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  • Massive Gas Evacuation After Ammonia Leak in Tiruvallur Unit

    July 4: A massive gas removal and safety containment operation is currently underway at a seafood processing unit in Tiruvallur, Tamil Nadu, following an ammonia gas leak that triggered an immediate emergency response from district authorities and specialized disaster management teams.

    Soon after the leak was detected, emergency personnel including fire and rescue services, hazardous materials handling experts, and local administrative officials rushed to the site and initiated swift containment measures. The facility was promptly secured to prevent further exposure, and access to the surrounding area was restricted as a precautionary step to ensure public safety.

    The ongoing operation involves the use of advanced gas evacuation equipment and established industrial safety protocols to safely extract and neutralize residual ammonia from the premises. Authorities are closely supervising the process to ensure that the site is fully stabilized before any resumption of operations is permitted.

    As part of precautionary measures, nearby workers and residents were advised to avoid the vicinity while containment and decontamination efforts continued. Medical support teams were placed on standby to respond to any potential health impacts, while continuous monitoring of air quality was carried out in and around the affected area.

    An inquiry has been launched to determine the cause of the leak and to assess adherence to mandatory industrial safety standards at the facility. Officials stated that appropriate corrective actions will be taken based on the findings to prevent similar incidents in the future and strengthen safety compliance across similar industrial units.

    Authorities emphasized that the primary focus remains on ensuring complete safety at the site, minimizing environmental impact, and restoring normal operations only after thorough verification and clearance.

    The incident underscores the critical importance of stringent safety protocols in industrial facilities handling hazardous chemicals and highlights the need for continued vigilance and preparedness to manage such emergencies effectively.

  • India and Israel Unlock New Investment Opportunities with Bilateral Pact

    July 4: India and Israel have reached a significant milestone in their economic relationship with the entry into force of a landmark bilateral investment agreement, paving the way for stronger investment flows, enhanced business collaboration, and greater economic cooperation between the two nations.

    The agreement establishes a modern and transparent framework for promoting and protecting investments, providing greater confidence to businesses and investors seeking opportunities in both markets. By ensuring a stable and predictable investment environment, the pact is expected to encourage long-term capital flows and facilitate deeper commercial engagement across strategic sectors.

    The implementation of the investment agreement is anticipated to unlock new opportunities in areas such as technology, innovation, manufacturing, agriculture, healthcare, renewable energy, cybersecurity, defence, and digital infrastructure. Businesses from both countries are expected to benefit from improved investment security, streamlined regulatory processes, and enhanced market access, fostering stronger cross-border partnerships.

    India and Israel have steadily expanded their strategic relationship over the years, with economic ties emerging as a key pillar of bilateral cooperation. The new investment framework reflects the shared commitment of both governments to strengthening trade, promoting innovation-driven growth, and supporting sustainable economic development through increased private-sector participation.

    Industry leaders believe the agreement will further boost investor confidence by reducing investment risks and creating a more predictable business environment. The pact is also expected to encourage joint ventures, technology transfers, research collaborations, and greater participation by startups and emerging enterprises, reinforcing the innovation ecosystems of both countries.

    As global businesses continue to diversify investments and strengthen international partnerships, the agreement positions India and Israel to capitalize on new growth opportunities while expanding bilateral trade and investment. It also aligns with the broader objective of enhancing economic resilience and fostering mutually beneficial partnerships in an evolving global business landscape.

    The coming into force of this landmark investment pact marks a new chapter in India–Israel economic relations, laying the foundation for stronger investment cooperation, sustained business growth, and a deeper strategic partnership in the years ahead.

  • International Travel Takes Off Again as India’s Aviation Sector Gains Fresh Momentum

    July 4: India’s aviation industry is witnessing a steady revival in international passenger traffic as easing global tensions and improving travel conditions encourage more people to fly overseas. The recovery signals renewed confidence among travelers and airlines, reflecting stronger demand for both business and leisure travel.

    International airlines and Indian carriers have reported a noticeable increase in bookings on overseas routes, supported by improved connectivity, expanding flight schedules, and growing demand from tourists, business travelers, and the Indian diaspora. The restoration of key international routes and the addition of new destinations have further strengthened the sector’s recovery.

    The increase in international passenger traffic has also boosted activity at airports across the country, with higher passenger volumes and aircraft movements contributing to the aviation ecosystem’s overall growth. The resurgence is expected to generate positive spillover effects for tourism, hospitality, retail, and other travel-related industries, supporting employment and economic activity.

    The easing of geopolitical uncertainties has played a significant role in restoring traveler confidence, allowing airlines to gradually expand operations and optimize capacity on major international routes. Combined with India’s strong economic growth, rising disposable incomes, and increasing preference for air travel, these factors are creating a favourable environment for sustained expansion in the aviation sector.

    India continues to strengthen its position as one of the world’s fastest-growing aviation markets through ongoing investments in airport infrastructure, improved connectivity, and supportive government initiatives. These developments are enhancing the country’s ability to cater to rising passenger demand while reinforcing its role as a key global aviation hub.

    Looking ahead, industry experts expect international passenger traffic to maintain its upward momentum, driven by robust travel demand, expanded airline networks, and improving global conditions. While external uncertainties remain, the sector’s continued recovery reflects the resilience of India’s aviation industry and its readiness to capitalize on emerging growth opportunities.

    The renewed growth in international travel highlights the sector’s strong fundamentals and reinforces confidence in India’s long-term aviation growth story.

  • India Emerges as M&A Powerhouse with USD 86.9 Billion in Deal Value

    July 4: India’s mergers and acquisitions (M&A) market recorded a significant upswing, with total deal value rising 31% to USD 86.9 billion, underscoring strong investor confidence and sustained corporate expansion across key sectors. The sharp increase reflects a growing appetite among domestic and international companies to pursue strategic acquisitions, strengthen market presence, and unlock long-term growth opportunities.

    The robust performance was driven by several high-value transactions spanning industries such as financial services, technology, healthcare, energy, manufacturing, and consumer goods. Companies continued to leverage mergers and acquisitions as a strategic tool to enhance operational efficiencies, expand product portfolios, access new markets, and accelerate digital transformation initiatives.

    India’s resilient economic growth, favourable demographic profile, improving regulatory environment, and expanding consumer market have continued to make the country an attractive destination for both strategic and financial investors. Strong participation from private equity firms, sovereign wealth funds, and global corporations further contributed to the rise in deal activity during the period.

    Cross-border transactions also remained an important component of the M&A landscape, reflecting increasing global interest in India’s growth story. International investors continued to view India as a preferred investment destination, supported by stable macroeconomic fundamentals, ongoing infrastructure development, and government-led reforms aimed at improving the ease of doing business.

    Industry experts believe the continued momentum in mergers and acquisitions demonstrates the confidence of businesses in India’s long-term economic prospects. As companies focus on scaling operations, enhancing competitiveness, and responding to evolving market dynamics, M&A activity is expected to remain a key driver of corporate growth.

    Looking ahead, the deal-making environment is expected to remain favourable, supported by healthy corporate balance sheets, ample liquidity, increasing digital adoption, and sustained investor interest. While global economic uncertainties may influence transaction timelines, India’s strong economic fundamentals are likely to continue attracting strategic investments and supporting robust M&A activity in the months ahead.

    The rise in deal value highlights the growing maturity of India’s corporate ecosystem and reinforces the country’s position as one of the world’s most dynamic and attractive markets for mergers and acquisitions.

  • Nifty, Sensex Register Strong Weekly Gains Amid Easing Crude Oil Prices

    India’s benchmark equity indices, the Nifty 50 and BSE Sensex, concluded the week on a strong note, extending their upward momentum as sustained correction in global crude oil prices significantly improved investor sentiment. The decline in crude prices eased concerns over inflationary pressures and India’s import bill, creating a favourable environment for equities and encouraging broad-based buying across sectors.

    July 4: Throughout the week, market participants remained optimistic amid improving global cues, steady foreign institutional investment, and expectations of a stable domestic economic environment. Lower energy costs strengthened confidence in sectors that are sensitive to input prices, while investors continued to accumulate fundamentally strong stocks across large-cap and broader market segments.

    Nifty, Sensex Register Strong Weekly Gains Amid Easing Crude Oil Prices

    The rally was broad-based, with information technology, pharmaceuticals, financial services, real estate, and select consumer-focused stocks emerging among the key contributors to the market’s gains. Mid-cap and small-cap indices also witnessed healthy buying interest, reflecting improved risk appetite and growing confidence among retail and institutional investors alike.

    The sustained correction in crude oil prices is expected to provide multiple benefits to the Indian economy. Lower fuel and transportation costs can help ease inflationary pressures, improve corporate profit margins, reduce pressure on the country’s current account deficit, and support overall economic growth. These factors collectively strengthened investor confidence during the week and reinforced expectations of continued market stability.

    Market participants also remained encouraged by resilient domestic economic fundamentals, healthy corporate balance sheets, and expectations of sustained policy support. While global uncertainties continue to warrant caution, the combination of easing commodity prices and steady domestic demand has provided a supportive backdrop for Indian equities.

    Looking ahead, investors are expected to closely monitor upcoming corporate earnings, domestic macroeconomic indicators, global monetary policy developments, and movements in commodity prices for further market direction. Analysts believe that if crude oil prices remain stable and broader global conditions continue to improve, Indian equity markets are well-positioned to sustain their positive momentum in the coming weeks.

    The week’s strong performance underscores the resilience of India’s capital markets and highlights growing investor confidence in the country’s long-term economic prospects despite an evolving global environment.

  • Centre Directs Apple, Google to Remove Seven Apps Facilitating Illegal E-Rickshaw Operations

    New Delhi, July 5 (UDN): The Central Government has directed technology giants Apple and Google to remove seven mobile applications that allegedly facilitate the unauthorised operation of e-rickshaws and violate existing transport regulations.

    Centre Directs Apple, Google to Remove Seven Apps Facilitating Illegal E-Rickshaw Operations

     Representational Image

    According to official sources, the action was initiated following complaints that the apps were enabling unregistered and non-compliant e-rickshaw services, posing concerns over passenger safety, regulatory compliance and fair competition in the urban transport sector.

    The Ministry concerned has asked both app store operators to delist the applications from their respective platforms pending further examination. Authorities said the apps were found to be operating without adhering to mandatory licensing and other statutory requirements prescribed under the Motor Vehicles Act and related rules.

    The government has also directed enforcement agencies to investigate the operations of the platforms and examine whether they were facilitating transport services in violation of applicable laws. Appropriate legal action will be taken against entities found guilty of flouting regulatory norms, officials said.

    The move is part of the Centre’s broader efforts to streamline the operation of app-based transport services, strengthen passenger safety and ensure that digital platforms function within the legal framework governing public transport.

    Officials reiterated that while technology-driven mobility solutions are being encouraged, all operators must comply with licensing, registration and safety standards to safeguard the interests of commuters and maintain an orderly transport ecosystem.

    Further details regarding the names of the applications and the timeline for their removal are awaited.

     

  • Green steel push reshapes India’s scrap sourcing strategy

    Mumbai, July 04: India’s transition toward green steel is fundamentally changing how steelmakers view scrap procurement. As the country moves toward its target of 300 million tons of steelmaking capacity by 2030, a growing share of production is expected to come from electric arc furnaces (EAFs) and induction furnaces (IFs), both of which rely heavily on scrap as a key raw material.

    The shift is being driven not only by economics but also by sustainability considerations. Scrap-based steelmaking can reduce carbon emissions by 60-70 percent compared to the conventional blast furnace route, making it a critical component of decarbonisation efforts.

    As environmental, social and governance (ESG) requirements gain prominence, steelmakers are increasingly focusing on the quality, consistency, traceability and carbon footprint of scrap. Procurement strategies are evolving from opportunistic buying to structured sourcing backed by certification, digital tracking and long-term supply partnerships.

    “In the coming years, scrap will no longer be viewed merely as a low-cost raw material. Instead, it will emerge as a strategic resource that helps steel producers meet both sustainability goals and operational requirements in an increasingly carbon-conscious market,” Vinaya Varma, MD & CEO, mjunction, said.

    The country’s steel scrap ecosystem is undergoing a transformation driven by vehicle scrappage policies, industrial recycling initiatives, urban mining opportunities and the growing need to reduce dependence on imported scrap. At the same time, evolving green steel requirements are pushing industry stakeholders to focus on quality assurance, traceability, certification and efficient supply chain management.

    Commenting on the coking coal scenario — a critical raw material for steelmaking — he noted, “While thermal coal imports have declined over past few months, coking coal import volumes are trending upward. Given the sustained growth in hot metal production, we expect this momentum to continue.” 

    After registering a 6% year-on-year increase in FY 2025-26, hot metal production continued its upward trajectory with a 2% year-on-year growth during April–May 2026. Consequently, coking coal imports for April–May 2026 reached approximately 12.5 million tons (mt), marking a 27.5% surge from the 9.8 mt recorded during the same period last year. 

    Interestingly, overall coal and coke imports have dropped by an estimated 6.5% through May 2026 compared to the previous year. 

    Given the country’s heavy reliance on imports to meet its coking coal needs, developing an efficient scrap–sourcing ecosystem has become increasingly vital. 

    Against this backdrop, mjunction services limited will organise the 13th Indian Steel Markets Conference (ISMC 2026) in New Delhi on July 8-9, 2026, under the theme “Steelathon: Shaping the Steel-to-Scrap Value Chain.”

    The two-day conference will bring together leading voices from the steel, scrap, mining, infrastructure, automotive, logistics, finance and policymaking communities to discuss the challenges and opportunities shaping the sector’s next growth phase.

    The conference will feature around 30 eminent speakers representing major steel producers, mining companies, infrastructure developers, automotive manufacturers, financial institutions, logistics providers and policy bodies.

  • ECI Appoints 10 Senior IAS Officers as Electoral Roll Observers for Odisha

    Bhubaneswar, July 4 (UDN): The Election Commission of India (ECI) has appointed ten senior IAS officers as Electoral Roll Observers to supervise the Special Intensive Revision (SIR)-2026 of electoral rolls in Odisha, with an aim to ensure a transparent, inclusive and error-free voter registration exercise across the State.

    ECI Appoints 10 Senior IAS Officers as Electoral Roll Observers for Odisha

    The observers have been assigned responsibility for different clusters of districts and will oversee the implementation of the revision process, monitor field-level activities and coordinate with district election authorities to ensure strict adherence to the Election Commission’s guidelines.

    According to the Chief Electoral Officer’s office, each observer has been directed to undertake at least three visits to the districts under his or her charge during the revision period. Besides reviewing progress at district headquarters, the officers will inspect polling stations in selected Assembly constituencies and hold meetings with Members of Parliament, MLAs and representatives of recognised political parties to assess the implementation of the exercise.

    The observers will also be accessible to members of the public to receive complaints and representations relating to voter enrolment, deletion of names and correction of electoral roll entries. They have been tasked with examining constituencies where additions or deletions of electors exceed the prescribed limits and reviewing reports submitted by District Election Officers before submitting their findings to the Chief Electoral Officer.

    As per the district-wise allocation, Rajesh Pravakar Patil will oversee Jagatsinghpur, Kendrapara and Jajpur districts; Aravind Agrawal will monitor Balasore, Bhadrak and Mayurbhanj; Balwant Singh has been assigned Kalahandi, Balangir and Nuapada; B. Parameswaran will supervise Subarnapur, Boudh and Kandhamal; and Bijay Ketan Upadhyaya will oversee Deogarh, Sambalpur and Bargarh.

    Similarly, D. Prasantha Kumar Reddy has been assigned Ganjam, Gajapati and Rayagada; Sudhansu Mohan Samal will supervise Cuttack, Dhenkanal and Angul; Rashmita Panda will oversee Puri, Khordha, Nayagarh and Bhubaneswar; Mohammed Sadique Alam has been assigned Nabarangpur, Koraput and Malkangiri; while Sangram Keshari Mohapatra will monitor Keonjhar, Sundargarh and Jharsuguda districts.

    The draft electoral rolls under the Special Intensive Revision-2026 will be published on July 5, while claims and objections can be filed between July 5 and August 4. Eligible citizens can apply for inclusion of their names through Form 6, seek deletion through Form 7, and request corrections in electoral details using Form 8.

    The Special Intensive Revision is being carried out with July 1, 2026 as the qualifying date to ensure that the electoral rolls remain updated, accurate and comprehensive ahead of future elections.

  • Two Killed, Five Injured as Speeding Dumper Rams Rescuers, Media Personnel in Mayurbhanj

    Baripada, July 5 (UDN): Two persons were killed and five others, including three television camerapersons, sustained grievous injuries after a speeding dumper truck rammed into a group of rescuers and media personnel at an accident site in the Palbani area of Odisha’s Mayurbhanj district late Friday night.

    Two Killed, Five Injured as Speeding Dumper Rams Rescuers, Media Personnel in Mayurbhanj

    According to police, the tragedy unfolded after a timber-laden truck overturned on the roadside near Palbani, prompting local residents, police personnel, forest officials and journalists to rush to the spot to assist in the rescue operation and regulate traffic.

    While the rescue work was in progress, a dumper truck, allegedly travelling at high speed, lost control, mounted the overturned vehicle and crashed into the gathering, causing panic and leaving several people trapped under the vehicle.

    Two persons died on the spot, while five others suffered serious injuries. Three of the injured are television camerapersons covering the incident. One of them, identified as Lalit Barik, sustained critical injuries and was initially admitted to Pandit Raghunath Murmu (PRM) Medical College and Hospital in Baripada before being shifted to a hospital in Bhubaneswar for advanced treatment. The remaining injured are undergoing treatment at the Baripada medical college.

    The identities of the deceased were yet to be officially confirmed till the filing of this report.

    Police have seized the dumper involved in the incident and launched an investigation to ascertain the circumstances that led to the crash. Senior district officials visited the accident site and reviewed the rescue and relief measures.

    The incident has sent shockwaves across the district, particularly among the media fraternity, as journalists covering the earlier accident became victims of the second mishap. Authorities are investigating whether overspeeding, negligence or poor visibility contributed to the fatal collision.

  • CPDL Credits Banked Solar Units for FY 2025-26

    Chandigarh, July 04: The Chandigarh Power Distribution Limited (CPDL) has credited the value of banked surplus solar units generated through rooftop solar plants to consumers for the financial year 2025–26. 

    Under the Net Metering Regulations, rooftop solar consumers of CPDL do not lose the value of the surplus electricity exported to the grid. The excess energy generated is banked throughout the financial year and adjusted against future electricity consumption. Any unutilised banked units remaining at the end of the financial year are credited to the consumer at the Average Power Purchase Cost (APPC) approved by the Joint Electricity Regulatory Commission (JERC).  

    Each month, the energy exported out of the rooftop solar plant is adjusted against the units imported from CPDL. If the consumer exports more units than imported, then the surplus units are banked to the next month and continue to be adjusted against future imports. At the close of the financial year, any remaining banked units are compensated for at the applicable APPC. For FY 2025–26, the APPC approved by JERC is Rs 3.61 per unit.  

    For example, a consumer with 1000 banked units as on March 31, 2026, would receive a credit of Rs 3610, which reflected in the recent electricity bill under the head “Excess Solar Energy Credit @ APPC.”