&w=3840&q=100)
Electric vehicles: Why change is needed and how to make it happen
Sunita Narain
Listen to This Article
There are three key reasons why countries need to electrify their vehicle fleet. One is climate change. The transport sector guzzles massive amounts of oil (petrol and diesel) and globally contributes roughly 15 per cent of annual carbon dioxide emissions. Zero-emission vehicles, or electric vehicles (EVs), replace oil with electricity, which is ideally generated in renewable-energy plants, and are seen as the solution. The second reason, which is more important for Indian cities, is that replacing petrol and diesel vehicles with zero-emission ones will reduce local pollution. And third: It will save us valuable foreign exchange because oil consumption will
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
5 minutes ago
- Time of India
Govt's bid to reform ship ownership and registration through new Merchant Shipping Bill wins Parliament backing
Advt Advt By , ETInfra The Rajya Sabha on Monday passed the new Merchant Shipping Bill , clearing the decks for the government to overhaul a more than six decades old law governing the nation's shipping sector that had restrictions on registering ships under the Indian flag and stalled Bill was passed by the Lok Sabha last week and when signed into law by the President, it will facilitate reforms relating to ownership of ships that can be registered in India, a step that is aimed at boosting India's below par shipping tonnage The passage of the Merchant Shipping Bill is the latest in a series of initiatives taken by the Narendra Modi-led government to overhaul old legislation and rules relating to the maritime sector and bring them up to date with modern day Bill seeks to promote ease of doing business in the maritime sector, increase India's tonnage, strengthen the country as a bankable shipping jurisdiction, enhance welfare of Indian seafarers, improve adjudication and predictability of will help expand the ownership criteria of Indian vessels, allowing Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs), joint ventures and body corporates to make investments in India and own vessels under the Indian will facilitate registration of a foreign vessel chartered on a so-called bareboat charter cum demise (BBCD) contract by an Indian is a form of financing ship acquisition, whereby the purchase is typically done by paying one-fourth of the total cost of the vessel as down payment while the balance is paid in instalments over the demise period, typically ranging from three-five a BBCD ship is allowed be converted to an Indian flag ship only when the last instalment is paid to the overseas owner. Till then, it flies the flag of the jurisdiction where it is Ministry plans to permit ships acquired through the BBCD route to be registered even before the last instalment is paid.'These reforms are aimed at encouraging investors, including smaller investors, to make investments in the shipping sector by way of ownership or joint ownership, resulting in increasing the Indian tonnage,' said Sarbananda Sonowal, Union Minister of Ports, Shipping and allows registration of Indian flagged vessels without the need to visit Indian Bill enables electronic means of registration, and grants statutory recognition to electronic agreements, records, and logbooks, in addition to electronic licenses, certificates and payments. The Bill also includes an enabling provision to notify an electronic database for inspections and conducting inspections based on ship risk profiles attributed to ships, thereby creating an efficient Port State Control and coordinated inspection measures are aimed at increasing the country's shipping tonnage and help tap a larger slice of international trade, a government official 2022, India was ranked 18th globally in ship owning, controlling a meagre 1.4 per cent of the global tonnage. In comparison, India's export-import (EXIM) trade is about 11 per cent of the global seaborne cargo trade, and this share is expected to rise to 30 per cent by FY20, India paid $85 billion in sea freight, of which some $75 billion was paid to foreign shipping companies, resulting in a huge outflow of foreign exchange. This is because the share of overseas cargo carried by Indian flagged vessels has dwindled from 40.7 per cent in 1988 to less than 5 per cent 2008 and 2021, the reliance on foreign fleets for hauling export-import cargo led to outbound freight charges of a whopping $637 billion, according to a document prepared by the Ministry of Ports, Shipping and of reliance on foreign fleet in geo-political situations may result in food and energy security disruptions, the document the benefits of having a robust national shipping fleet, the Ministry said it would mitigate 'supply chain disruptions and unforeseen geopolitical risks such as the COVID pandemic, Russia-Ukraine conflict and the Red Sea crisis'.It would make Indian shipping 'Atmanirbhar and globally recognized' besides enhancing the share of transport services in the export basket from 12 per India's shipping tonnage is estimated to cost some ₹55 lakh crore, according to the Maritime Amrit Kaal 2047 Vision 95 per cent of India's trade by volume and about 70 per cent by value is hauled via sea routes. A robust maritime sector is thus indispensable for realizing the vision of a $5 trillion economy and cementing India's position as a global economic powerhouse, Sonowal added.
&w=3840&q=100)
Business Standard
5 minutes ago
- Business Standard
Flipkart Minutes debuts 'Gourmet' category in Delhi, Mumbai, Bengaluru
Homegrown e-commerce marketplace Flipkart on Monday announced the launch of a 'Gourmet' category under Flipkart Minutes, its quick commerce offering. In its first phase, the category is live in select metro cities such as Delhi, Mumbai, and Bengaluru, with more cities to be added in the coming phases. Under this category, consumers will have access to over 650 products from more than 130 brands sourced from various international destinations, including South Korea, Italy, France, and the United States. Some of the brands listed on the platform are Habanero, Samyang, WickedGud, Barilla, Nongshim, Lindt, Smoor, MadMix, Cremeitalia, Akshayakalpa, Organic Acre, IFB Fresh Catch, and Gadre. It added that the assortment will cater to both value-conscious and gourmet-curious consumers who are looking to explore global flavours without compromising on quality. 'The expansion addresses India's growing appetite for premium and international gourmet experiences by delivering carefully curated homegrown and global brands with Flipkart Minutes' value, convenience, and speed,' the company said in a statement. Commenting on the new category, Kabeer Biswas, vice-president, Flipkart Minutes, said: 'With the launch of Gourmet, we are not just expanding our assortment but also redefining what convenience means for India's growing modern consumers. Today's consumers are aspirational and upwardly mobile, seeking global flavours, healthier alternatives, and premium ingredients as part of their everyday lifestyle. This is a step forward in our journey to make high-quality, niche products more accessible to Indian consumers to meet their evolving culinary preferences.'
Mint
5 minutes ago
- Mint
₹1.12 to ₹38.72: Multibagger penny stock turns ₹1 lakh into ₹34.57 lakh in five years
Spice Lounge Food Works (formerly known as Shalimar Agencies), one of the country's fast-growing food and tech companies, has delivered handsome returns to Dalal Street investors, with its shares continuing to climb, breaking record highs, and emerging as one of the biggest wealth creators in the Indian stock market in recent times. The stock has been hitting upper circuit limits in recent months, causing the wealth of its shareholders to rise sharply, as the company is entirely owned by retail shareholders with zero per cent promoter stake, according to the latest data available on the BSE. Founded in 2019 in India, the company operates in India, the USA, and Canada. It holds exclusive franchise rights for global brands like Buffalo Wild Wings, Wingzone, eTouch, and TekSoft, and it owns four original brands—Blaze Kebabs, Xora, Salud, and Sunburn Union. Focused on innovation and quality, the company is rapidly expanding its global footprint, according to its website. It also provides computer and outsourcing services in the information technology sector, including data, voice, or video collection and processing, as well as call center services. Last week, the company informed the exchanges about its name change to Spice Lounge Food Works Limited from Shalimar Agencies, effective from today. From a trading price of ₹ 4.60 apiece one year ago, the stock has surged 741% to its current level of ₹ 38.72 apiece. Even during periods of sharp volatility in the small-cap segment, the stock did not lose momentum and continued to surge higher, resulting in a 1,043% jump over the last three years and 3,143% over the last five years, raising from ₹ 1.12 apiece. The stellar rise in the stock price has also pushed the company's market capitalization to ₹ 2,645 crore as of August 11. The company is expected to announce its June quarter numbers on August 14 (Thursday). It ended FY25 with a net profit of ₹ 6 crore on revenue of ₹ 105 crore. The massive rise in the share price over a short period has significantly boosted investor wealth. An investor who had put ₹ 1 lakh into the stock five years ago and held onto it would have seen its value grow to ₹ 34.57 lakh, highlighting the wealth-creating potential of the stock market when the right counters are chosen. Meanwhile, the stock has been trading on an ex-split basis in the ratio of 1:10 since March 2025. The above calculation does not factor in the post-split benefit. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
