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Market Ready

14 June 2024
India leads the global increase in fuel demand

In Focus Today

  • Mahindra Plans Big Expansion

  • Reliance proposes linked pipeline-rail tariffs

IEA reports India to lead World in fuel demand growth

The International Energy Agency (IEA) predicts India will drive global oil demand, with consumption expected to rise by 1.3 million barrels/day by 2030, reaching 6.7 million barrels/day. This surge is fueled by India's expanding economy and robust industrial growth despite efforts to diversify energy sources. Source: IBEF

ICRA predicts Investments from the PLI Scheme

The Production Linked Incentive (PLI) scheme is expected to attract investments of USD 35.95 – 47.93 billion (Rs. 3-4 trillion) over the next 4 years. This will increase private sector capital expenditure across key industries like oil and gas, metals, healthcare, and cement, supported by government incentives to stimulate economic growth. Source: IBEF

India's Tech sector to shine brightest in APAC growth race

India's technology spending is expected to grow 8% this year, the highest in Asia Pacific (APAC), driven by government-led digitisation efforts. APAC's tech spending will grow to USD 876 billion by 2027, with software investments leading the way, particularly in AI technologies. Source: IBEF

Mahindra Group favours major-scale expansion

Mahindra Group's CEO, Anish Shah, plans to focus on scaling up existing businesses, aligning with India's expected growth over the next decade. By 2030, Mahindra aims to expand significantly within the nation. Source: The Economic Times

Reliance calls for integrated pipeline and rail tariffs

Reliance Industries wants petroleum pipeline tariffs to be based on railway freight rates rather than being increased annually. They discussed this with Indian Oil, Hindustan Petroleum, GAIL, and Reliance BP Mobility Ltd. at a PNGRB meeting about regulating tariffs fairly for everyone involved. Source: The Economic Times
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