Weekly Media Update_19_04_2023

1. (This document comprises news clips from various media in which Balmer Lawrie is mentioned, news
related to GOI and PSEs, and news from the verticals that we do business in. This will be uploaded on
intranet and website every Monday.)
Balmer Lawrie in News
C&MD’s interview published in the March-April edition of Infrastructure Today Magazine. Click the
link below to read the interview.
http://pdf.infrastructuretoday.co.in/Monthly-Edition/PDF-version/April-2023.pdf
Economy to stay on course in FY24: FM
Nirmala Sitharaman
The Indian economy will likely grow by 7% in
2022-23 and is projected to be the fastest-
growing economy in 2023-24 by the International
Monetary Fund (IMF), finance minister Nirmala
Sitharaman said in Washington. “In her
intervention, the FM highlighted that conducive
domestic policy environment along with the
government’s focus on structural reforms has kept
domestic economic activity in India robust,” the
finance ministry tweeted, quoting Sitharaman.
She was speaking at the plenary meeting of the
International Monetary and Financial Committee
at the IMF Headquarters in Washington. The
finance ministry’s Economic Survey on January 31
had projected the country’s GDP growth to be 6-
6.8% in FY24, against an advance estimate of 7%
in FY23. The International Monetary Fund (IMF) on
Tuesday lowered its growth forecasts for India for
the current fiscal and the next by 20 bps and 50
bps, to 5.9% and 6.3%, respectively. This was
broadly in line with the cuts in its global growth
forecasts for 2023 and 2024 by 10 bps each to
2.8% and 3% but indicated that India may not be
weathering the global turmoil as exceptionally as
it was expected to.
The Financial Express - 16.04.2023
https://www.financialexpress.com/economy/econ
omy-to-stay-on-course-in-fy24-fm-nirmala-
sitharaman/3048688/
India, China to drive about half of ’23
growth: IMF
China and India will together account for about
half of global growth this year, underscoring
Asia's increasing heft in the world economy,
according to the International Monetary Fund.
The Washington-based fund is now forecasting
growth in the Asia Pacific region will come in at
4.6% this year, some 0.3 percentage points
higher than expected in October, and faster
than the 3.8% last year mostly due to China's
reopening. The region as a whole will contribute
over 70% of global growth this year, the IMF
estimates. China's recovery is lifting activity
around the region, Krishna Srinivasan, director
of the IMF's Asia and Pacific Department wrote
in a blog. “The strongest spill overs to regional
growth have been from Chinese demand for
investment goods,” he said. “But this time, we
expect the biggest spill over effect will be from
China's increased demand for consumption
goods.” Even so, China's expansion at 5.2%
would be substantially lower than its pre-Covid
trend. IMF First Deputy MD Gita Gopinath earlier
Thursday highlighted that “we don't have any
Chinas anymore that are growing at very high
rates."
The Economic Times - 15.04.2023
https://epaper.timesgroup.com/article-
share?article=15_04_2023_007_004_etkc_ET
India’s growth modestly downgraded
from 6.1% to 5.9% for FY24
India’s growth rate has been modestly
downgraded from 6.1 per cent to 5.9 per cent for
the current fiscal mainly because of the slowness
of domestic consumption and data revision,
according to a top IMF official. The International
Monetary Fund (IMF) on Tuesday lowered India’s
economic growth projection for the current fiscal
India sees oil cuts, war impact as
biggest risks to economy: FM
Sitharaman
The biggest threats to India’s economic growth
would likely come from forces outside the
country, Finance Minister Nirmala Sitharaman
said, citing the risk of higher oil prices and the
impacts from Russia’s war in Ukraine. The effect
on fuel prices from the recent surprise OPEC+
WEEKLY MEDIA UPDATE
Issue 598
19 April 2023
Wednesday

2. to 5.9 per cent from 6.1 per cent earlier. Yet India
will continue to be the fastest-growing economy in
the world. In its annual World Economic Outlook,
IMF also lowered the forecast for 2024-25 fiscal
(April 2024 to March 2025) to 6.3 per cent from
the 6.8 per cent it had predicted in January this
year. Krishna Srinivasan, Director of the Asia and
Pacific Department, IMF, said the revisions to
India’s growth have been very modest from 6.1
per cent to 5.9 per cent and probably reflects two
factors. All those point to the fact that output gaps
are closing, he told reporters at a news conference
here on Thursday.
Millennium Post - 15.04.2023
https://www.millenniumpost.in/business/indias-
growth-modestly-downgraded-from-61-to-59-
for-fy24-515210
oil-output cut and “the spill over of all the
decisions which are related to the Russia-
Ukraine war” are “the two main things which I
think I’d be more worried about than anything
internal,” she said in an interview in Washington
on Saturday. She also said possible recessions
in the US or other developed countries could be
a drag on India by hurting exports, particularly
manufacturing. Sitharaman was in the US to
attend the International Monetary Fund’s Spring
Meetings and to co-chair the Group of 20
finance chiefs’ gathering, along with Reserve
Bank of India Governor Shaktikanta Das. India’s
$3.2 trillion economy is showing signs of fatigue
as domestic and foreign demand gets clipped by
high interest rates.
Business Standard - 17.04.2023
https://www.business-
standard.com/economy/news/india-sees-oil-
cuts-war-impact-as-biggest-risks-to-economy-
fm-sitharaman-123041600215_1.html
Retail inflation dips on easing food prices
Retail inflation eased sharply in March on the back
of moderating food prices and a favourable base
effect and dipped below the 6% mark, while
industrial output growth remained healthy in
February, bringing much-needed cheer against
the backdrop of a gloomy global economic outlook.
Data released by the National Statistical Office
(NSO) on Wednesday showed inflation, as
measured by the Consumer Price Index (CPI), rose
an annual 5.7% in March, slower than the 6.4% in
February and below the central bank’s upper band
of comfort zone. The food price index was at 4.
8%, lower than the near 6% in February. Rural
inflation was lower at 5. 5% while urban was at
5.9%. Vegetable prices contracted by 8. 5% while
oils and fats declined 7.9%. Core inflation
(excluding food and fuel) also moderated
marginally during the month but still remains
stubborn.
The Times of India - 13.04.2023
https://epaper.timesgroup.com/article-
share?article=13_04_2023_017_015_toikc_TOI
WPI falls to 29-month low on high base
and deflation
India's wholesale-price based inflation (WPI) fell
to a 29-month low aided by a high base and
deflation in prices of manufactured products,
official data showed Monday. WPI in March
came in at 1.34% year-on-year, as compared
to February’s 3.85%. Experts point more
downside to wholesale inflation on the back of a
favourable base, moderation in domestic food
inflation and no major uptick in global
commodity prices. They maintain that
wholesale inflation data provides support to
RBI’s decision to pause rate hikes in its April
meeting and said that the rate hike cycle has
likely ended. “We expect WPI inflation to fall
further as global commodity prices come off
their 2022 highs, domestic food inflation
moderates, and favourable base effects play out
more strongly,” said Rahul Bajoria, managing
director EM Asia (exChina) Economics, Barclays.
The Economic Times - 19.04.2023
https://epaper.timesgroup.com/article-
share?article=18_04_2023_007_014_etkc_ET
Export slump sharpens, down 13.9% in
March
India’s merchandise exports plunged 13.9% on
year in March to $38.4 billion, and imports
contracted by 7.9% to $58.1 billion, official data
showed on Thursday. Both onward and inward
shipments have been in the negative zone in the
final four months of the year, but the pace of
contraction sharpened for exports in March,
indicating that the global demand slump and trade
headwinds have started to take a toll on India’s
Oil prices may rise, could hit eco,
users: IEA
The International Energy Agency (IEA) on
Tuesday said that oil prices are expected to
increase from current levels of around $85 a
barrel due to the recent decision by Opec+ to
reduce production and warned that it could “put
a burden” on the Indian economy and
consumers. The agency, which tracks energy
markets in major economies, also said it was
“legitimate” for India to import crude from

3. foreign trade. At $447.5 billion, goods exports for
the whole of the last financial year were, however,
still up 6% on year, thanks to strong growth
registered in the initial four months of the year.
Merchandise imports grew 16.5% $714 billion in
2022-23. In keeping with the trend since January,
trade deficit in March came in at a relatively
benign $19.73 billion, as a moderate slowdown in
the economy coupled with a fall in oil prices led to
the relatively uncommon situation of sustained
import contraction.
The Financial Express - 15.04.2023
https://www.financialexpress.com/economy/expo
rt-slump-sharpens-down-13-9-in-
march/3046301/
Russia and export petrol and diesel to other
countries, including Europe. “India is doing this
in a transparent way. And India is profiting by
importing crude at a lower, discounted price,”
IEA executive director Fatih Birol said after
meeting commerce and industry minister Piyush
Goyal here. India’s oil imports from Russia have
soared to make the sanction-hit nation the
second-largest source of crude. During April-
February 2022-23, export of petrol and diesel
from India has also shot up almost 50% to $86.
2 billion, with shipments to several countries
such as the Netherlands seeing a significant
increase.
The Times of India - 12.04.2023
https://epaper.timesgroup.com/article-
share?article=12_04_2023_017_006_toikc_TO
I
Breaking down the demand surge for
petroleum products
In the Financial Year 2023(FY-23), the demand for
petroleum products was 10.2% higher than the
year before. In previous years, the demand was
impacted due to the Covid-19 pandemic. But in
FY23, demand for most products crossed pre-
covid levels as various sectors of the economy
made a recovery from the pandemic slowdown.
The increase in consumption of petrol, diesel and
jet fuel during FY23 came on the back of growth
in industrial activity and travel. These activities
recovered after slowing down in the previous two
fiscals because of the pandemic. The Russian
invasion sparked an energy crisis. India had to
diversify its oil import sources and raise imports
for energy security. Cheap oil from Russia was also
added to the import bill. The global economy is
expected to slow down. Yet, the demand for
petroleum products in India is expected to stay
robust. This is because an increase in domestic
consumption, fuelled by accumulated household
savings during and after the pandemic will boost
the demand.
Mint - 14.04.2023
https://blog.forumias.com/breaking-down-the-
demand-surge-for-petroleum-products/
Diesel sales jump on agricultural
demand
Diesel sales in India jumped up sharply in the
first half of April as agricultural activity pick-up
and trucking increased to meet industrial
demand, preliminary industry data showed on
Monday. Demand for diesel, the most consumed
fuel in the country accounting for about two-
fifths of the demand, soared more than 15% to
3.45 million tonnes in the first half of April
compared with a year earlier. Month-on-month
sales rose 8.4% when compared with 3.19
million tonnes of diesel consumed in the first
half of March that had witnessed seasonal
slowdown. Petrol sales rose about 2% to 1.14
million tonnes during April 1 to 15 when
compared with the same period of last year.
Sales however fell 6.6% month-on-month, the
data showed. In the first half of March, petrol
sales had fallen 1.4% and diesel 10.2% year-
on-year. Consumption of petrol in April first half
was 14.6% more than COVID-marred April 1-
15, 2021, and almost 128% more than in the
same period of 2020. Diesel consumption was
up 24.3% over April 1-15, 2021, and 127%
higher than in the same month of 2020.
The Hindu - 18.04.2023
https://www.thehindu.com/business/diesel-
sales-jump-on-agricultural-
demand/article66747816.ece
India's gasoil sales jump in April first
half
Indian state refiners posted an 8.4% rise in sales
of gasoil to 3.45 million tonnes in the first half of
April compared with the same period last month,
preliminary sales data showed, indicating higher
demand from the agriculture sector and a recovery
in industrial activity. Gasoil accounts for about
Hardeep Singh Puri confident of
meeting 20% ethanol blending target
in FY25
Oil minister Hardeep Singh Puri on Monday
exuded confidence of meeting the target of
supplying petrol mixed with 20 per cent ethanol
by 2025, five years earlier than the previously
planned roll-out in 2030. Petrol blended with 20

4. two-fifths of refined fuel consumption in India and
is directly linked to industrial activity. While gasoil
is mainly used by trucks, gasoline is used in
passenger vehicles. Sales of gasoline fell 6.6% to
1.14 million tonnes during the period, the data
showed. Sales of liquefied petroleum gas (LPG)
also declined more than 6% to 1.1 million tonnes
in the same period, and jet fuel sales were down
nearly 4% at 284,600 tonnes, the data showed.
State-run companies - Indian Oil Corp (IOC.NS),
Hindustan Petroleum Corp (HPCL.NS) and Bharat
Petroleum (BPCL.NS) - own about 90% of India's
retail fuel outlets.
Reuters - 18.04.2023
https://www.reuters.com/markets/commodities/i
ndias-gasoil-sales-jump-april-first-half-2023-04-
17/
per cent ethanol was rolled out at select petrol
pumps in 11 states and Union Territories in
February as part of a programme to increase
use of biofuels to cut emissions as well as
dependence on foreign exchange-draining
imports. At present, 10 per cent ethanol is
blended in petrol (10 per cent ethanol, 90 per
cent petrol) and the government is looking to
double this quantity by 2025. "I am sure we will
be able to supply 20 per cent ethanol blended
petrol by next (fiscal) year," he said. India
saved as much as Rs 41,500 crore in forex
outgo from 10 per cent blending besides
benefiting the farmers, he said at a biofuels
conference here.
Business Standard - 18.04.2023
https://www.business-standard.com/india-
news/hardeep-singh-puri-confident-of-
meeting-20-ethanol-blending-target-in-fy25-
123041700647_1.html
Fuelled up: Diesel, ATF exports to Europe
touch multi-year high in March
After falling to a nine-month low in February,
India’s petroleum fuel exports–mainly diesel and
aviation turbine fuel–to Europe surged to a multi-
year high in March as the continent’s demand rose
due to refinery disruptions in France and
anticipation of lower production during the
springtime refinery maintenance season. India’s
refined fuel exports to Europe shot up to an
average of 385,547 barrels per day (bpd) in March
from 169,196 bpd in February, and 276,068 bpd
in January, as per data shared by energy cargo
tracker Vortexa. In the run-up to the European
Union’s ban on Russian refined fuels from
February 5, Indian refiners, particularly private
sector players, rushed to cater to the region. The
same was true for other fuel exporters like China
and Saudi Arabia, as Russia was the EU’s largest
fuel source, and a ban on fuel imports meant that
the lion’s share of the supplies to the region would
not be available anymore.
The Indian Express - 17.04.2023
https://indianexpress.com/article/business/comm
odities/fuelled-up-diesel-atf-exports-to-europe-
touch-multi-year-high-in-march-8560023/
Russian oil to India may be hit by OPEC
and drive for higher prices
The drive by OPEC and its allies to boost oil
prices is lifting Russian crude along with it,
prompting concerns from India’s banks that
cargoes could breach the $60-a-barrel cap.
State Bank of India and Bank of Baroda
informed refiners they will not handle payments
for oil bought above the limit, said a refinery
executive involved in seeking financing for the
company’s Russian oil purchases, who asked
not to be identified as he isn’t authorized to
speak publicly. Banks in the South Asian nation
are keeping a closer watch on prices at loading
ports, before shipping and logistics costs are
added, executives said. Spokespeople at State
Bank of India and Bank of Baroda didn’t
immediately respond to requests for comment.
India, along with China, emerged as key buyers
of Russian crude after most others shunned its
supplies following the invasion of Ukraine.
The Economic Times - 14.04.2023
https://energy.economictimes.indiatimes.com/
news/oil-and-gas/russian-oil-to-india-may-be-
hit-by-opec-and-drive-for-higher-
prices/99464187
India could buy Russian oil past cap if
OPEC+ cuts boost costs
India will explore buying Russian crude oil near or
past the price cap imposed by the G-7 as it
navigates external risks it sees as the biggest
economic threat. “Yes, because otherwise I’ll end
up paying far more than what I can afford,”
finance minister Nirmala Sitharaman said in an
interview Saturday in Washington, when asked if
India would continue importing Russian oil beyond
Filling stations being operated by
OMCs transforming into 'experience
stations': Hardeep Singh Puri
Union Petroleum and Natural Gas Minister
Hardeep Singh Puri on Thursday said from
merely being 'petrol pumps', the filling stations
being operated by the country's oil marketing
companies are transforming into 'experience
stations'. Indian Oil Corporation Ltd (IOCL) has
entered into a memorandum of understanding

5. the $60-a-barrel price cap. “We have a large
population, and we also therefore have to look at
prices which are going to be affordable for us.” The
stance underscores the pressing need in the
country of 1.4 billion people to curb inflation and
spur growth amid a surprise output cut by OPEC+
and western sanctions to rein in Russia’s oil
revenue following the invasion of Ukraine. India,
along with China, has emerged as one of the key
buyers of Russian crude. It is now India’s top
supplier, above Iraq and Saudi Arabia.
The Economic Times - 18.04.2023
https://energy.economictimes.indiatimes.com/ne
ws/oil-and-gas/india-could-buy-russian-oil-past-
cap-if-opec-cuts-boost-costs/99544808
with a startup engaged in the business of
manufacturing and selling of toys to provide
space at retail outlets for setting up toy
shops/kiosks. The minister visited IOCL
company-owned and company-operated retail
outlet in Mohali, Punjab, and inaugurated a toy
kiosk -- Urban Tots. Puri lauded the one-of-its-
kind initiatives of the company of handholding
and supporting startup Urban Tots. He said that
first five Urban Tots stores have been
commissioned in Tricity (Chandigarh, Mohali,
Panchkula), while 500 more stores will be set
up across the country.
The Economic Times - 14.04.2023
https://energy.economictimes.indiatimes.com/
news/oil-and-gas/filling-stations-being-
operated-by-omcs-transforming-into-
experience-stations-hardeep-singh-
puri/99479734
Global oil demand on course for a record
high
Global demand for oil this year is on track to rise
to a record 101.9m barrels per day as China leads
an economic surge among developing nations, the
world’s leading energy body has forecast, a media
report said. The International Energy Agency’s
predicted daily average for 2023 is 2m bpd higher
than last year’s figure. The price of a barrel of oil
rose from $85.62 to $86.10 on Friday morning
after the IEA’s report was published, The Guardian
reported. The agency warned that a recent
decision by the world’s biggest oil exporters to cut
their; production could drive oil prices higher, in a
blow to efforts to reduce inflation and reset
economic growth in developed countries, The
Guardian reported. “This augur badly for the
economic recovery and growth,” the IEA said.
“Consumers confronted by inflated prices for basic
necessities will now have to spread their budgets
even more thinly.” Oil market prices soared by $7
a barrel earlier this month after OPEC, led by Saudi
Arabia, and other allied oil-producing nations, led
by Russia, agreed to deepen their production cuts
to 2m bpd this year despite concerns that China’s
economic rebound could drive higher demand for
oil, The Guardian reported.
Sarkaritel.com - 15.04.2023
https://www.sarkaritel.com/global-oil-demand-
on-course-for-a-record-high/
Fuel that powers the global economy is
flashing recession signs
Signs of an economic slowdown are flashing in
the global diesel market. In China, the number
of trucks running on highways is noticeably
down in recent weeks. In Europe, diesel’s
premium to crude futures recently plunged to
the lowest level in more than a year. In the US,
demand is on track to contract 2% in 2023, S&P
Global Inc. says. Excluding 2020, when much of
the economy briefly came to a standstill, that
2% slump would be the biggest drop in
America’s diesel use since 2016. We are
“assuming one of the worst economic climates
in recent memory outside of the 2008-2009
financial crisis and the pandemic,” said Debnil
Chowdhury, S&P’s head of Americas fuels and
refining. No matter how you crunch it, demand
for the heavy-machinery fuel that powers
everything from commercial trucking fleets to
construction equipment is weakening in many
of the world’s largest economies. Viewed as an
early signal of weaker industrial activity and
reduced consumer spending, the pullback has
recession-watchers on high alert.
The Economic Times - 17.04.2023
https://economictimes.indiatimes.com/small-
biz/trade/exports/insights/fuel-that-powers-
the-global-economy-is-flashing-recession-
signs/articleshow/99546980.cms?from=mdr
Revised gas pricing formula to aid
demand, profit stability for producers:
Fitch
India’s (BBB-/Stable) decision to limit prices of
domestic natural gas from legacy fields to between
USD4 per million British Thermal Unit (mmbtu)
New pricing norms cut earnings
downside for gas producers: S&P
India’s new gas pricing regime will offer greater
downside protection for earnings of gas
companies such as Oil and Natural Gas Corp
(ONGC) and Oil India Ltd, S&P Ratings said on

6. and USD6.5 will support margins for city gas
distributors, encourage the use of gas, and reduce
cash flow volatility for upstream producers, says
Fitch Ratings. We expect a partial pass-through of
the lower administered price mechanism (APM)
gas prices, at which domestic upstream producers
supply gas to city gas distributors, in the prices of
compressed natural gas (CNG) and domestic piped
natural gas (PNG) to add to the distributors'
margins in the near term. The APM price under the
new regime was calculated at USD7.92 but is
capped at USD6.5 for the rest of April, 24% below
levels in October 2022-March 2023. Following the
change, Mahanagar Gas Limited, a city gas
distributor, announced a 9% reduction in domestic
PNG and CNG prices. We expect such price cuts by
city gas distributors and the fixing of a price ceiling
to add certainty to domestic natural gas’ price
advantage relative to alternative fuels, supporting
gas usage for transportation and households, and
overall demand in the medium term.
The Economic Times - 13.04.2023
https://economictimes.indiatimes.com/industry/e
nergy/oil-gas/revised-gas-pricing-formula-to-aid-
demand-profit-stability-for-producers-
fitch/articleshow/99438278.cms
Friday. The new norms will not affect the pricing
for gas produced from difficult fields that
companies like Reliance Industries Ltd operate.
Under the new guidelines announced on April 6,
2023, the government will set prices for
domestically produced gas on a monthly basis;
the rate will be 10 per cent of the average price
of the Indian crude basket in the preceding
month. The price will have a floor of $4 per
million British thermal unit (mmbtu) and a
ceiling of $6.5 per mmBtu. “We expect the new
gas pricing terms to result in more fluid market
price revisions,” said S&P Global Ratings credit
analyst Shruti Zatakia. Under the earlier
regime, prices were reset semi-annually and
were linked to gas prices in key international
trading hubs. The pricing mechanism for gas
production from deep water, ultra-deep water,
high-temperature, and high-pressure fields is
unchanged.
Millennium Post - 17.04.2023
https://www.millenniumpost.in/business/new-
pricing-norms-cut-earnings-downside-for-gas-
producers-sp-515215
Indian Road Logistics Industry to clock
high single-digit growth this fiscal:
Report
The Indian Road logistics industry is expected to
clock a high single-digit growth this fiscal on an
elevated base of the previous year, ICRA said on
Monday. The credit ratings agency also expects
the demand momentum to continue in FY24, aided
by stable domestic consumption and investment
demand, ICRA said. The Indian Road logistics
industry's revenue growth is pegged at a high
single-digit on an elevated base of FY2023, Icra
said, adding that the outlook is stable. The
downside risks to the estimates remain from any
material tapering of demand due to high
inflationary and interest rate regime, the
emergence of any further Covid waves, or a sub-
par monsoon impacting the overall economic
health, given its strong linkage to economic
activity on an aggregate basis, it said. According
to ICRA, quarterly revenues for the logistics sector
witnessed a marginal contraction of 2 per cent in
Q3 FY23, compared to the earlier quarter of the
same year.
Outlook India - 18.04.2023
https://www.outlookindia.com/business/indian-
road-logistics-industry-to-clock-high-single-digit-
growth-this-fiscal-report-news-279054
At 1.29cr, highest-ever air traffic post
Covid in March
January to March is conventionally a lean period
for air travel in the country, and while the first
two months of the year remained true to the
trend, March has upended it as airlines flew
about 1.29 crore passengers, the highest-ever
traffic recorded post the pandemic. Also,
domestic passenger traffic for FY 2023 (April
2022 to March 2023) is about 4% lower than
the traffic registered pre-Covid in FY 2020,
shows data released on Tuesday by the
Directorate General of Civil Aviation (DGCA).
Airlines flew more passengers in March than
they did in December 2022, a month when
demand for year-end travel pushes up
passenger volumes. The March figure was
marginally lower than the pre-Covid monthly
high of 1.3 crore passengers, which airlines flew
in December 2019, shows DGCA data. In
January and February, airlines flew 1.25 crore
and 1. 20 crore passengers respectively, which
was lower than the 1.27 crore passengers flown
in December 2022, a month that spikes
passenger volumes.
The Times of India - 19.04.2023
https://epaper.timesgroup.com/article-
share?article=19_04_2023_009_010_toikc_TO
I
DPIIT aims to get a clear picture of
India's logistics cost in about 4 months:
Official
Sunil Prasad Singh set to be next
Director (Technical) of NCL

7. The Department for Promotion of Industry and
Internal Trade (DPIIT) is aiming to get a clear
picture of the country's logistics costs in the next
four months, a senior government official said on
Monday. At present, the government is going by
certain estimates, which suggest that India's
logistics cost stands at about 13-14 per cent of the
country's GDP (gross domestic product). The
department has conducted a workshop last month
on logistics cost framework, and a task force has
been set up to formulate a framework to
determine the cost in the country. "The task force
will give its report in two months' time...in about
four months, we should have an estimate, that's
what we are aiming for," Special Secretary in the
DPIIT Sumita Dawra told reporters here. She said
that in two months, they would get the framework
and it would take another two months for the
calculations.
The Economic Times - 17.04.2023
https://economictimes.indiatimes.com/news/indi
a/dpiit-aims-to-get-a-clear-picture-of-indias-
logistics-cost-in-about-4-months-
official/articleshow/99564658.cms?from=mdr
Sunil Prasad Singh is set to be next Director
(Technical) of Northern Coalfields Limited
(NCL), a PSU under the Ministry of Coal. He has
been recommended for the post by the Public
Enterprises Selection Panel on Tuesday.
Presently, he is serving as General Manager in
the same organisation. Singh has been
recommended for the post of Director
(Technical) of NCL from a list of eight
candidates, who were interviewed by the PESB
panel in its selection meeting held on April 11.
He was the only candidate from NCL. Among the
other candidates, two candidates were from
Western Coalfields Limited (WCL), two
candidates from NTPC Limited and one each
from Eastern Coalfields Limited (ECL) & Lignite
Mines. As Director (Technical) of NCL, Singh will
be a member of the board of Directors and will
report to the Chairman and Managing Director
(CMD). He will be responsible for the operation
of mines and also of field activities, technical
functions and safety of mines.
PSU Watch - 11.04.2023
https://psuwatch.com/psu-
appointments/sunil-prasad-singh-set-to-be-
next-director-technical-of-ncl
PESB picks Shantanu Roy for BEML's CMD
post
Shantanu Roy is set to be next Chairman &
Managing Director (CMD) of BEML Limited, a
Miniratna PSU under the Ministry of Defence. He
has been recommended for the post by the Public
Enterprises Selection Board (PESB) panel on
Tuesday. Presently, he is serving as Director
(Mining & Construction Business) in the same
organisation. Roy has been recommended for the
post of CMD of BEML Limited from a list of three
candidates, who were interviewed by the PESB
panel in its selection meeting held on April 18. All
the candidates, who were on the list, were from
BEML Limited. Roy has been serving as Director
(Mining and Construction Business) of BEML
Limited since February 17, 2023. Prior to
assuming his present position, he was Executive
Director and was responsible for international
business division, strategy & new initiatives,
coordination and northern region operations.
PSU Watch - 18.04.2023
https://psuwatch.com/psu-appointments/pesb-
picks-shantanu-roy-for-bemls-cmd-post
Amarendu Prakash to be the next
Chairman of SAIL
Amarendu Prakash has been appointed as the
next Chairman of the Steel Authority of India
(SAIL), a Maharatna PSU under the Ministry of
Steel. The Public Enterprises Selection Board
(PESB) panel has recommended him for the
position. He is currently the Director in Charge
of SAIL's Bokaro Steel Plant. Prakash was
chosen for the position of Chairman of SAIL
from a pool of nine candidates interviewed by
the PESB selection panel at its meeting on 12
April. SAIL had five candidates, while the
National Mineral Development Corporation,
Manganese Ore Mining Company, Indian
Railways Stores Service and Indian Railways
Service of Electrical Engineering each had one.
Prakash holds a Bachelor of Technology in
Metallurgy from BIT Sindri (Ranchi University).
He is a skilled technocrat with over 28 years of
experience, including 24 years in Plant
Operations at BSL and four years in the
Chairman's office at SAIL. Prakash started his
career at SAIL in 1991, with a job at the Rolling
Mills. During his 20-year tenure at BSL, he
mastered the skill of steel rolling and finishing.
Business World - 13.04.2023
https://www.businessworld.in/article/Amarend
u-Prakash-To-Be-The-Next-Chairman-Of-
SAIL/13-04-2023-472802/