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India.com
2 days ago
- Business
- India.com
Who was MM Sharma, the teacher of Mukesh Ambani? Reliance chairman calls this man ‘The Guru of…:, he taught Mukesh Ambani to be…
Mukesh Ambani (File) Mukesh Ambani, Chairman and Managing Director of Reliance Industries Ltd, has pledged an unconditional grant of Rs 151 crore to the Institute of Chemical Technology (ICT), Mumbai, his alma mater. Mukesh Ambani is a graduate of ICT from the 1970s. He was there for more than three hours at the institute, formerly known as the University Department of Chemical Technology (UDCT), on Friday. The occasion was for the release of the biography of Professor MM Sharma, titled Divine Scientist . Who Was MM Sharma? Crediting the rise of the Indian chemical industry to Sharma's efforts, Ambani, in his speech, referred to him as 'a Rashtra Guru ─ a Guru of Bharat'. Ambani reminisced how the first lecture he attended at UDCT by Professor Sharma motivated him and how Sharma later played the role of quiet architect of India's economic reforms. 'In the 80s, I used to call him a 'Bania Chemical Engineering Professor'—he taught us all to be Banias,' said Ambani. Sharma impressed upon the policymakers that the only way for India to grow was to unshackle Indian industry from license-permit-raj, which would allow Indian players to build scale, reduce dependence on imports and compete globally. 'Like my father Dhirubhai Ambani, he had a burning desire to change Indian industry from scarcity to global leadership,' said Ambani, adding that 'these two bold visionaries believed that science and technology, in alliance with private entrepreneurship, would open the floodgates of prosperity'. While speaking of 'Guru Dakshina', Ambani announced the unconditional grant of Rs 151 crore to ICT according to the instructions of Sharma. 'When he tells us something, we just listen. We don't think. He told me 'Mukesh you have to do something big for ICT, and I am very pleased to announce that for Prof Sharma,' Ambani said while referring to the grant. (With Input From Agencies)
Fibre2Fashion
03-06-2025
- Business
- Fibre2Fashion
India's LAB prices dip amid rising imports & softening feedstock costs
India's surfactant sector still relies heavily on linear alkyl benzoene (LAB), with local demand expected to reach over 720 KTA in fiscal 2024 (FY24) and 767 KTA in fiscal 2025 (FY25) with a growth rate of CAGR 6.53 per cent. Due in large part to India's expanding presence in the global soap and detergent industry, the market has demonstrated resilience in the face of global challenges. India's LAB demand is rising, but prices fell from ₹132/kg (~$1.55/kg) in Jan to ₹129/kg (~$1.51/kg) in May 2025 due to weak upstream costs, rising regional supply, and cautious buyer sentiment. Imports are expected to ease with IOCL's capacity ramp-up. Prices may drop ₹3â€'7/kg (~$0.04â€'$0.08/kg) from Junâ€'Aug 2025 amid stable but soft LABSA demand and higher feedstock availability. In fiscal 2023 (FY23), Indian Oil Corporation Ltd (IOCL) increased its LAB production capacity from 120 KTA to 162 KTA in order to meet the growing demand. However, India's LAB production fell to 400 KTA in FY23 from 457 KTA the year before as a result of planned shutdowns and de-bottlenecking efforts. With the exception of Reliance Industries Ltd's 60 KTA halted plant, the domestic operating rate was 93 per cent. This shortfall in production was offset by a rise in imports, which peaked at 337 KTA in FY23. With IOCL's capacity enhancement now complete, imports are expected to moderate, reflected in a projected 281 KTA and 310 KTA import level for FY25 and fiscal 2026 (FY26). Current Market Drivers (as of April–May 2025): From January to April 2025, Indian Linear Alkyl Benzene (LAB) prices showed a moderating trend. Starting the year at around ₹132 per kg in Jan 2025. However, by April 2025, a notable downward correction occurred. The decline continued into May 2025 around ₹129 per kg. This sustained reduction aligns with broader market dynamics, including weaker upstream costs, increased regional supply post-turnarounds, and softening buyer sentiment. Despite earlier resistance from suppliers, the growing supply and downward pressure on feedstock prices have begun to weigh on LAB prices in the Indian market. Downward Pressure on Prices: Falling Naphtha Prices: A major feedstock for LAB production, naphtha prices have declined significantly due to weak crude markets and improved refining margins. Negative Market Sentiment: Buyers are cautious, driven by sluggish demand recovery and global economic uncertainties. Plant Restarts in Asia: Key LAB production facilities in Asia have resumed operations post-maintenance, boosting regional supply. Expected LAB Price Trend in India (June–August 2025) Forecast: Indian Linear Alkyl Benzene (LAB) prices are expected to remain under pressure or decline modestly in the next quarter (June to August 2025), Overall, a gradual decline of ₹3–7/kg is expected over the next quarter. Reasons for the Expected Trend: 1. Weak Upstream Cost Support: Benzene and naphtha prices are on a declining trajectory Lower feedstock prices reduce cost push on LAB, encouraging sellers to lower offers. 2. Rising Regional Supply: Post-turnaround plant restarts in China and South Korea have increased LAB availability in the Asian market. Greater availability of feedstock normal paraffins may ease production constraints, further softening prices. 3. Buyer Sentiment & Inventory: Indian buyers remain cautious and price-sensitive, with ample inventory coverage. Expectation of lower offers is delaying procurement, reinforcing downward price pressure. 4. Stable but Soft Downstream LAS Demand: While the LABSA market is steady. Buyers are continuing to seek price reductions, aligning with upstream softness. Fibre2Fashion News Desk (VK)
The Print
23-05-2025
- Business
- The Print
Reliance to invest Rs 75,000 cr in North-Eastern states: Mukesh Ambani
'Reliance has invested around Rs 30,000 crore in the region in the past 40 years. In the next five years, we will more than double our investments, with our target at Rs 75,000 crore,' he said. Speaking at the Rising NorthEast Investors Summit here, Reliance Industries Ltd chairman and managing director said his group will invest in factories for high-quality FMCG products in the region and setting up a 150-bed cancer hospital in Manipur. New Delhi, May 23 (PTI) Oil-to-telecom conglomerate Reliance Industries Ltd will invest Rs 75,000 crore in North Eastern states in setting up 350 biogas plants, expanding its telecom services, retail footprint, and clean energy projects, chairman Mukesh Ambani said on Friday. This will create over 2.5 million direct and indirect employment opportunities as the conglomerate aspires to touch the lives of most of the 45 million population in the North-East. Ambani said he is making six commitments to the Chief Ministers of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura. The group's telecom unit Jio has already covered 90 per cent of the population with over 5 million 5G subscribers. 'We will double this number this year,' he said. 'Jio's priority will be to bring the revolutionary power of Artificial Intelligence to all schools, hospitals, enterprises and homes.' When talent meets technology and competence meets connectivity, our North-East will surge ahead, he said. Ambani said Reliance Retail will vastly increase its procurement of staples, fruits, and vegetables to boost the income of farmers. 'We will also invest in factories for high-quality FMCG products in the region and promote the region's fabulous artisan economy,' he said. In clean energy, Reliance will look to 'greatly' enhance generation of solar power in the region, he said without giving details. In line with the vision of converting waste to wealth, Reliance will convert the region's vast 'wasteland into wealth-land', by setting up 350 integrated compressed biogas plants which will turn organic waste into gas which could be used as CNG for transportation as well as fuel in industries and cooking in kitchens, he said. Ambani said Reliance Foundation, the philanthropic arm of the group, will bring the best of cancer care to the North-East. 'To begin with, we have established a 150-bed comprehensive cancer hospital in Manipur. We are collaborating with Mizoram University on the care of breast cancer using genomic data. In Guwahati, we have built an Advanced Molecular Diagnostics and Research Lab. It will be among the largest Genome Sequencing Capacities in India,' he said. 'We will help transform the North-East into a healthcare hub and a research powerhouse'. Stating that the North-East is a treasure-house of world-class talent in multiple sports, he said Reliance Foundation will work with all eight states to set up Olympic Training Centres, which will prepare our youth to be tomorrow's medal-winners in Olympics. 'For Reliance, it is a matter of privilege to fulfil the dreams of a region that has the fastest rate of economic growth with the youngest population in India,' he said. To Prime Minister Narendra Modi, he said, 'You have achieved something unbelievable and unimaginable. You have brought the North-East from the periphery to the centre of India's developmental map, from the margins to the mainstream of the India Story!' 'Under your guidance, we in industry will work with all the Chief Ministers to make the North-East an inspiring model to demonstrate to the rest of the world… how we can make progress, how development can take care of Dharti Maa, how Laxmi Mata can reach every home, and how Bharat Mata indeed embraces all her children with her boundless love.' PTI ANZ DR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
23-05-2025
- Business
- Time of India
Reliance Industries Investment In North East India: Reliance Industries Announces ₹75,000 Crore Investment in North-Eastern India for Biogas, Telecom, and Healthcare, ET Manufacturing
Advt Advt Advt Oil-to-telecom conglomerate Reliance Industries Ltd will invest ₹75,000 crore in North Eastern states in setting up 350 biogas plants, expanding its telecom services, retail footprint, and clean energy projects, chairman Mukesh Ambani said on Friday. Speaking at the Rising NorthEast Investors Summit here, Reliance Industries Ltd chairman and managing director said his group will invest in factories for high-quality FMCG products in the region and setting up a 150-bed cancer hospital in Manipur "Reliance has invested around ₹30,000 crore in the region in the past 40 years. In the next five years, we will more than double our investments, with our target at ₹75,000 crore," he will create over 2.5 million direct and indirect employment opportunities as the conglomerate aspires to touch the lives of most of the 45 million population in the said he is making six commitments to the Chief Ministers of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and group's telecom unit Jio has already covered 90 per cent of the population with over 5 million 5G subscribers. "We will double this number this year," he said. "Jio's priority will be to bring the revolutionary power of Artificial Intelligence to all schools, hospitals, enterprises and homes."When talent meets technology and competence meets connectivity, our North-East will surge ahead, he said Reliance Retail will vastly increase its procurement of staples, fruits, and vegetables to boost the income of farmers."We will also invest in factories for high-quality FMCG products in the region and promote the region's fabulous artisan economy," he clean energy, Reliance will look to "greatly" enhance generation of solar power in the region, he said without giving line with the vision of converting waste to wealth, Reliance will convert the region's vast 'wasteland into wealth-land', by setting up 350 integrated compressed biogas plants which will turn organic waste into gas which could be used as CNG for transportation as well as fuel in industries and cooking in kitchens, he said Reliance Foundation, the philanthropic arm of the group, will bring the best of cancer care to the North-East."To begin with, we have established a 150-bed comprehensive cancer hospital in Manipur. We are collaborating with Mizoram University on the care of breast cancer using genomic data. In Guwahati, we have built an Advanced Molecular Diagnostics and Research Lab. It will be among the largest Genome Sequencing Capacities in India," he said. "We will help transform the North-East into a healthcare hub and a research powerhouse".Stating that the North-East is a treasure-house of world-class talent in multiple sports, he said Reliance Foundation will work with all eight states to set up Olympic Training Centres, which will prepare our youth to be tomorrow's medal-winners in Olympics."For Reliance, it is a matter of privilege to fulfil the dreams of a region that has the fastest rate of economic growth with the youngest population in India," he Prime Minister Narendra Modi, he said, "You have achieved something unbelievable and unimaginable. You have brought the North-East from the periphery to the centre of India's developmental map, from the margins to the mainstream of the India Story!""Under your guidance, we in industry will work with all the Chief Ministers to make the North-East an inspiring model to demonstrate to the rest of the world... how we can make progress, how development can take care of Dharti Maa, how Laxmi Mata can reach every home, and how Bharat Mata indeed embraces all her children with her boundless love."
Time of India
23-05-2025
- Business
- Time of India
Reliance to invest ₹75,000 cr in North-Eastern states: Mukesh Ambani
New Delhi: Oil-to-telecom conglomerate Reliance Industries Ltd will invest ₹75,000 crore in North Eastern states in setting up 350 biogas plants, expanding its telecom services, retail footprint, and clean energy projects, chairman Mukesh Ambani said on Friday. Speaking at the Rising NorthEast Investors Summit here, Reliance Industries Ltd chairman and managing director said his group will invest in factories for high-quality FMCG products in the region and setting up a 150-bed cancer hospital in Manipur. "Reliance has invested around ₹30,000 crore in the region in the past 40 years. In the next five years, we will more than double our investments, with our target at ₹75,000 crore," he said. This will create over 2.5 million direct and indirect employment opportunities as the conglomerate aspires to touch the lives of most of the 45 million population in the North-East. Ambani said he is making six commitments to the Chief Ministers of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura. The group's telecom unit Jio has already covered 90 per cent of the population with over 5 million 5G subscribers. "We will double this number this year," he said. "Jio's priority will be to bring the revolutionary power of Artificial Intelligence to all schools, hospitals, enterprises and homes." When talent meets technology and competence meets connectivity, our North-East will surge ahead, he said. Ambani said Reliance Retail will vastly increase its procurement of staples, fruits, and vegetables to boost the income of farmers. "We will also invest in factories for high-quality FMCG products in the region and promote the region's fabulous artisan economy," he said. In clean energy, Reliance will look to "greatly" enhance generation of solar power in the region, he said without giving details. In line with the vision of converting waste to wealth, Reliance will convert the region's vast 'wasteland into wealth-land', by setting up 350 integrated compressed biogas plants which will turn organic waste into gas which could be used as CNG for transportation as well as fuel in industries and cooking in kitchens, he said. Ambani said Reliance Foundation, the philanthropic arm of the group, will bring the best of cancer care to the North-East. "To begin with, we have established a 150-bed comprehensive cancer hospital in Manipur. We are collaborating with Mizoram University on the care of breast cancer using genomic data. In Guwahati, we have built an Advanced Molecular Diagnostics and Research Lab. It will be among the largest Genome Sequencing Capacities in India," he said. "We will help transform the North-East into a healthcare hub and a research powerhouse". Stating that the North-East is a treasure-house of world-class talent in multiple sports, he said Reliance Foundation will work with all eight states to set up Olympic Training Centres, which will prepare our youth to be tomorrow's medal-winners in Olympics. "For Reliance, it is a matter of privilege to fulfil the dreams of a region that has the fastest rate of economic growth with the youngest population in India," he said. To Prime Minister Narendra Modi, he said, "You have achieved something unbelievable and unimaginable. You have brought the North-East from the periphery to the centre of India's developmental map, from the margins to the mainstream of the India Story!" "Under your guidance, we in industry will work with all the Chief Ministers to make the North-East an inspiring model to demonstrate to the rest of the world... how we can make progress, how development can take care of Dharti Maa, how Laxmi Mata can reach every home, and how Bharat Mata indeed embraces all her children with her boundless love.">
