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Karnataka aims to collect Rs 3,000 crore from a new mining tax in 2026-27. The state government amended its mineral rights law to introduce this levy. However, the legislation requires central government approval. Union Steel Minister HD Kumaraswamy opposes the tax, citing potential impact on the steel sector. The Supreme Court ruling allows states to tax mineral-bearing land and rights. View More
Bengaluru: Chief Minister Siddaramaiah has pencilled in Rs 3,000 crore in revenues from a proposed mining levy for 2026-27, but the plan remains stalled as the legislation awaits approval from the Centre amid opposition from Union Steel Minister HD Kumaraswamy. The state government amended its mineral rights law in December 2024 to introduce a tax on mineral rights and mineral-bearing land. But the bill has been pending with the Union government for over a year. “The State Government will continue to engage with the Government of India for an early resolution in this regard,” Siddaramaiah said in his budget speech on Friday, while including ₹3,000 crore from the levy in projected revenues for the next fiscal. The proposed tax has faced strong resistance from Kumaraswamy, whose ministry oversees the steel sector. Governor Thawar Chand Gehlot returned the Karnataka (Mineral Rights and Mineral Bearing Land) Tax Bill, 2024, in January last year, to the government without assenting it, amid the controversy. Kumaraswamy had publicly criticised the move, arguing that additional taxation could undermine Prime Minister Narendra Modi ’s vision for expanding the steel sector. He also discussed concerns raised by mining companies with Union Law Minister Arjun Ram Meghwal after industry players protested the levy. Live Events The proposed tax follows a landmark Supreme Court ruling on August 14, 2024, which allowed states to impose taxes on mineral-bearing land and mineral rights with retrospective effect from April 1, 2005. The court, however, waived interest and penalties on dues prior to July 25, 2024, and allowed mining leaseholders to pay arrears in instalments over 12 years starting April 1, 2026. The judgment clarified that Parliament’s Mines and Minerals (Development and Regulation) Act, 1957 does not limit states’ powers to tax mineral rights. It also held that the value of minerals or mineral output could serve as the basis for such taxation. Karnataka estimates that the new levy could generate about Rs 4,208 crore annually from taxes on mineral rights and another Rs 506 crore from owners of mineral-bearing land. Under the proposed structure, the state plans to impose a tax of Rs 100 per tonne on bauxite, laterite ore, chromite, iron ore, magnesite and mineral concentrates; Rs 50 per tonne on copper ore and gold (both primary and by-product); Rs 25 per tonne on limestone; Rs 20 per tonne on lime shell; and Rs 40 per tonne on other unspecified major minerals. The draft legislation was cleared by the state cabinet chaired by Siddaramaiah in December 2024, following the Supreme Court’s 8–1 ruling on July 25, 2024, that overturned a 1989 judgment which had held that only the Centre could impose royalty on minerals and mineral-bearing land. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
India's Jindal Stainless anticipates potential near-term delays in steel shipments to the Middle East due to regional conflict. While the Middle East is a small export market, the company is monitoring the situation and prepared to mitigate supply chain disruptions. Availability of industrial gases and raw materials from the region is also a focus. View More
Jindal Stainless said on Friday there may be some delays in steel shipments to the Middle East in the near term due to the conflict in the region. The country's biggest stainless steel producer said the Middle East accounted for a small share of its export market but that the company remained committed to serving the region. "Given the escalating conditions, there may be some delays in shipment arrivals in the near term, due to extended transit timelines across certain international shipping routes and air spaces," Abhyuday Jindal , managing director of Jindal Stainless, told Reuters. He said it was premature to comment on any kind of surcharges. The company was closely monitoring the evolving geopolitical situation and was prepared to ensure minimal disruption to its supply chain and operations, Jindal said. Live Events "One focus area currently is the availability of certain industrial gases and raw materials, such as limestone and dolomite, sourced from the (Middle East)," Jindal added, saying that while the company maintained adequate inventory levels, they were prepared to tap other sourcing options to prevent any impact on production. Some steel companies are also bracing to pay higher prices for gas. Reuters reported on Thursday that India's Adani Total Gas has sharply raised prices for supplies to industrial clients, citing lower availability of gas due to the conflict in the Middle East. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Aditya Birla Group suspended its iron ore business in 2022 and is returning ?to focus on ?the Chinese market View More
Aditya Birla Global Trading, the Singapore-based trading arm of the Aditya Birla Group, is restarting its iron ore trading operations after suspending them in 2022, according to three sources. The move is aimed at diversifying its portfolio and focusing on the Chinese market. View More
Indian commodities trading house Aditya Birla Global Trading is restarting its iron ore operations, three sources familiar with the matter said, as other traders exit the market due to record-low volatility. The Singapore-headquartered company, part of India's conglomerate Aditya Birla Group , which also owns aluminium producer Hindalco , trades agriculture, energy and metals but not iron ore, according to its website. The company suspended its iron ore business in 2022 and is returning to focus on the Chinese market to diversify its portfolio and reduce risk, according to two of the sources. All the sources spoke on condition of anonymity as they are not authorised to speak to media. Energy traders are increasingly moving into metals trading to capitalise on buoyant markets such as aluminium and copper, but iron ore has not benefited from the new enthusiasm because of falling volatility. Prices have been fluctuating less in China's giant $132 billion iron ore market over the past few years as state iron ore buyer, China Minerals Resources Group, consolidates purchasing and tries to suppress volatility. Live Events Aditya Birla Global Trading and Aditya Birla Group did not respond to questions from Reuters. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Srinibas Pradhan Constructions' Rs 20 crore IPO opens for subscription on Friday. Grey market signals suggest a flat listing outlook. The company operates in infrastructure and utilities, focusing on roads, bridges, and electricity projects. The IPO aims to raise funds for working capital and debt repayment. Investors will monitor subscription demand closely. View More
The Rs 20 crore IPO of Srinibas Pradhan Constructions will open for subscription on Friday with grey market signals indicating a flat listing outlook. The IPO currently commands a GMP of 0%, suggesting neutral sentiment ahead of its NSE SME debut . The book-built issue will remain open for bidding until March 10, with share allotment expected to be finalised on March 11. The company is scheduled to list on the NSE SME platform on March 13. The IPO comprises a fresh issue of about 17.13 lakh shares aggregating to Rs 16.79 crore and an offer for sale of 3.60 lakh shares worth Rs 3.53 crore. The price band for the issue has been set at Rs 91–98 per share. At the upper end of the price band, the company's pre-IPO market cap is estimated at around Rs 77 crore. Retail investors are required to bid for a minimum of 2,400 shares, translating into an investment of Rs 2,35,200 at the upper price band. Out of the total issue size of 20,73,600 shares, 1,04,400 shares have been reserved for the market maker, Rikhav Securities Ltd. The remaining portion includes 9,75,600 shares allocated to non-institutional investors and 9,74,400 shares reserved for retail investors. Only 19,200 shares have been set aside for qualified institutional buyers. Live Events Business overview Srinibas Pradhan Constructions operates in the infrastructure and utilities sector, focusing on projects related to roads, highways, bridges, electricity infrastructure and mining infrastructure. The company undertakes construction of rural and urban roads, bridges, steel structures and industrial facilities. It also delivers civil construction services covering foundations, industrial buildings and multi-storey structures. Most of its projects are executed through competitive bidding processes involving government departments, public sector undertakings and private corporate clients. The company’s operations are largely concentrated in Odisha. As of February 15, the company reported an order book of about Rs 184 crore, providing visibility for upcoming revenue streams. Financial performance For the six months ended September 30, the company reported total income of Rs 46 crore and profit after tax of Rs 4 crore. In FY25, total income stood at Rs 89.73 crore, while net profit was Rs 6.59 crore. Use of proceeds The company plans to use Rs 11.55 crore from the net proceeds to meet working capital requirements, Rs 1 crore towards repayment of a portion of existing borrowings and the remainder for general corporate purposes. With the GMP currently flat, listing expectations remain subdued. Investors will closely track subscription demand over the next few days, particularly from retail and non-institutional segments, as SME IPO sentiment remains cautious amid broader market volatility. Novus Capital Advisors is the book-running lead manager to the issue, while Maashitla Securities is the registrar. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
The Supreme Court has strongly condemned government authorities and litigants for routinely defying court orders and resorting to delayed appeals when facing contempt. Justices Ahsanuddin Amanullah and R Mahadevan emphasized that such practices erode public faith in the judiciary, urging strict action against disobedient parties, especially state entities, to uphold the rule of law. View More
After years on the front lines of Russia's invasion of Ukraine, the Iranian Shahed-136 drone is at the center of Tehran's retaliation against recent U.S. strikes. View More
A Shahed-136 drone is displayed at a rally in western Tehran, Iran, on February 11, 2026.Nurphoto | Nurphoto | Getty Images In the aftermath of the Israeli-U.S. strikes on Iran, American allies in the Persian Gulf are hearing a sound that Ukrainian soldiers have long come to dread: the foreboding hum of the Shahed-136 'kamikaze' drone. First designed in Iran, the Shahed has already become a fixture of modern warfare, with Tehran's strategic partner, Russia, utilizing the technology in its years-long invasion of Ukraine.Now, the drones â the most advanced of which is the long-ranged Shahed-136 â have become central to Iran's retaliation strategy against the U.S. and its regional allies, with thousands unleashed so far. At first glance, the Shahed is unremarkable compared with cutting-edge weapon technologies, with analysts sometimes referring to it as "the poor man's cruise missile." But while American allies have managed to intercept the vast majority of incoming drones with the help of U.S.-provided defense systems such as the 'Patriot' missile, many Shaheds have still managed to hit their targets. The United Arab Emirates Ministry of Defence said on Tuesday that out of 941 Iranian drones detected since the start of the Iran war, 65 fell within its territory, damaging ports, airports, hotels and data centers. The Shahed ... has allowed states like Russia and Iran a cheap way to impose disproportionate costsPatrycja BazylczykAnalyst at the Center for Strategic and International Studie Analysts say the key to their effectiveness lies in the numbers. The drones are relatively cheap and easy to mass-produce, especially compared to the sophisticated systems used to defend against them. Those factors make the drone ideal for swarming and overburdening aerial defenses, with each drone intercepted also representing a more valuable defense asset expended. "The Shahedâ136, among other unmanned aerial systems, has allowed states like Russia and Iran a cheap way to impose disproportionate costs," said Patrycja Bazylczyk, analyst with the Missile Defense Project at the Center for Strategic and International Studies in Washington DC."They force adversaries to waste expensive interceptors on lowâcost drones, project power, and create a steady psychological burden on civilian populations." The cost imbalance U.S. government reports describe the Shahed-136 as a one-way attack unmanned aerial vehicle produced by Iranian entities tied to the Islamic Revolutionary Guard Corps.Compared with ballistic missiles, the drones fly low and slow, deliver a relatively modest payload, and are limited to mostly fixed targets, Behnam Ben Taleblu, senior director of the Iran program at the Foundation for Defense of Democracies, told CNBC.Public estimates suggest individual Shahed drones can cost between $20,000 and $50,000. Ballistic and cruise missiles, by contrast, can cost millions of dollars each.In that sense, the Shahed and its equivalents "basically serve as 'the poor man's cruise missile' offering a way to strike and harass adversaries "on the cheap," said Taleblu.For Iran, which faces both international sanctions and limitations on acquiring advanced weapons, that cost advantage is significant.Meanwhile, air defense systems used by Gulf states and Israel can cost between $3 million and $12 million per interceptor, according to U.S. Department of Defense budget documents.This cost discrepancy raises a serious issue for Iran's enemies: Air defense systems have finite numbers of defense missiles, with each target intercepted representing a valuable asset expended. Pimary technical data from the U.S. Armyâs ODIN database and Iranian military disclosures describe the Shahed-136 as about 3.5 metres long with a 2.5-metre wingspan.Sergei Supinsky | Afp | Getty Images Thus, in a war of attrition, the drones could be used by Tehran to wear down air defenses, opening them up to more damaging attacks, analysts say. "The logic is to expend drones early while preserving ballistic missiles for the long haul," said CSIS's Bazylczyk.She added that Iran's ability to sustain massâdrone use will depend on its stockpiles, how well it can protect or restore its supply chain, and whether the U.S. and Israel can meaningfully disrupt the flow of components or production sites. The U.S. has long sought to disrupt Iran's production of the Shahed-136, and recently imposed new sanctions targeting suspected component suppliers across Turkey and the UAE.However, Russia's production of Shahed drones shows that such systems can be manufactured at scale during wartime and amid targeted sanctions. U.S. officials claim Iran had launched over 2,000 drones in the conflict as of Wednesday. However, the country is understood to have large stockpiles and may be capable of producing hundreds more each week, military experts reportedly told The National newspaper."Gulf countries are at risk of depleting their interceptors unless they are more prudent about when it fires those interceptors," said Joze Pelayo, a Middle East security analyst with the think tank Atlantic Council."The depletion is not imminent, but it remains an urgent issue," he said. However, attacks on multiple fronts by Iranian allies such as Hezbollah and the Houthis could put stockpiles at risk of being depleted within days, he added. A new staple of the modern battlefield? The Shahedâ136 was first unveiled around 2021 and gained global attention after Russia began deploying the Iranian-supplied weapons during its invasion of Ukraine in 2022. The Kremlin has since received thousands of the drones and begun producing them based on Iranian blueprints, highlighting their replicable and scalable design.Some analysts have suggested that Iran has drawn from Russia's extensive battlefield experience with the drones, including modifications such as anti-jamming antennas, electronic warfare-resistant navigation, and new warheads. Those warheads typically carry 30 kg to 50 kg of explosives and can pack a punch, particularly when used in large swarms, with advanced versions capable of a range of up to 1,200 miles.Michael Connell, a Middle East specialist at the Center for Naval Analyses, said that the Shahed-136 has proven so effective that the U.S. has reverse-engineered it and deployed its own version on the battlefield against Iranian targets. In its Iran attacks over the weekend, the U.S. Central Command confirmed that it had used its drones modeled on the Shahed for the first time in combat. watch nowVIDEO9:4809:48Chinese drone maker DJI dominates the market â despite being on a U.S. blacklistInternational Originals With unmanned attack drones becoming a fixture of the modern battlefield, methods for dealing with them are also evolving.According to Taleblu from the Foundation for Defense of Democracies, Ukraine has found some success in downing drones with fighter jet cannon fire, a more sustainable deterrent than missile interceptors. Ukraine also recently pioneered the development of cheaper mass-produced interceptors, which Kyiv claims can stop the Shahed. Gulf states are also expected to adopt more sustainable approaches. The Pentagon and at least one Gulf government are reportedly in talks to buy the cheaper Ukrainian-made interceptors. Meanwhile, Qatar's Ministry of Defense says it is using its air force jets to intercept Iranian attacks, including Shahed drones, alongside ground-based air defenses.Electronic warfare targeting the Shahed's GPS, as well as short-range missiles and directed-energy systems such as Israel's Iron Beam, are also significantly cheaper to operate than traditional interceptors.Still, Gulf states currently lack fast, high-volume anti-drone capabilities, and developing and deploying such systems will likely take years, said Atlantic Council's Pelayo. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
The investment will be made through IMR’s Indian entities — India Coke and Power and IMR Steel View More
Guillaume Dourdin, CEO & Country Director of Veolia India, on the company’s 25-year journey, Mumbai’s water ambitions, and why compliance is becoming the ultimate licence to operate in India. View More
Confidence can grow with the passage of time. Veolia ’s Indian operations have been under the leadership of French executive Guillaume Dourdin for the last 10 years, and he handles them with remarkable ease. His discussion of India’s water infrastructure reflects deep, long-term involvement, not detached observation, highlighting his experience in negotiating with officials, adapting to brief construction windows due to monsoons, and successfully expanding a pilot project in Nagpur into a vast continental water treatment initiative. Veolia established its presence in India during the late 1990s, preceding the widespread recognition of sustainability as a key business concern. Initially, the company's proposal was straightforward: round-the-clock water availability, a goal that felt almost unattainable in India back then. The Nagpur pilot in 2005 proved the sceptics wrong. Twenty years on, this city exemplifies advanced digital water management. It features a control centre that provides real-time visibility of all pipes, valves, and leakages, enabling a municipal commissioner to oversee the city’s water supply from one display. The Mumbai projects Dourdin is overseeing today are of a different order of magnitude. The Bhandup plant’s 2,000 MLD (million litres per day) capacity will make it Asia’s largest water treatment facility. This, along with the 910 MLD Panjrapur facility, will supply close to 60% of Mumbai’s water requirements. These are not marginal infrastructure upgrades; they are city-defining investments being delivered through a three-way partnership between Veolia, Welspun Enterprises , and Mumbai's municipal authority, with each focused on what they do best. Live Events The most striking aspect of Dourdin’s perspective is its lack of the immediate, deal-focused thinking prevalent in India’s infrastructure discussions. In a chat with Economic Times Digital , he discusses transforming sludge into a resource, implementing carbon capture in steel factories, and utilising AI for leak detection, all within the framework of a 30-year outlook for India’s environmental economy. He is, in a sense, a patient capitalist in an impatient market. And in that patience, Veolia may have found its most durable competitive advantage in India. Edited excerpts. The Economic Times (ET): Veolia has been in India for 25 years. How has the journey evolved? Guillaume Dourdin (GD): Twenty-five years ago, we launched in India our municipal water business, our historical area of expertise. The goal was to determine if a 24X7 water supply could be implemented here, a concept already proven globally. The first project we undertook was in Nagpur in 2005, serving as a demonstration to prove the technical feasibility of a consistent water supply within a single district. The success we achieved emboldened us to proceed. The demo resulted in our first complete water concession in Nagpur in 2012, and from there, we expanded, developing a similar model in Delhi and building network management capabilities in Karnataka. For roughly the first 15 years of our India journey, we were purely focused on the municipal sector. When I joined in 2017, we made a deliberate strategic shift where, along with what we already do in water, we wanted to build capabilities for industrial customers. At that time, Veolia Group aimed for a 50-50 balance between municipal and industrial operations globally. We then considered potential starting points, and hazardous waste treatment in Gujarat emerged as the solution. It’s a strong industrial state with a significant chemical sector, and we acquired a majority stake in Detox India Private Limited, where we now hold 70%, and used that as a platform to expand our industrial services and geographic footprint across India. After that, we started offering onsite services, assisting industrial clients with managing their water and utilities at their own locations. And we have also been exploring something more innovative, which is carbon capture. In 2021, we entered a partnership with a start-up, leading to a commercial carbon capture project trial at Tata Steel’s Jamshedpur plant. We collect 5 tonnes of CO2 daily. While the figure is small compared to a steel mill’s overall emissions, it demonstrated the concept’s technical and financial practicability. The goal was to create a scalable model that Tata Steel and other companies could use for their decarbonisation plans. ET: Veolia has deep experience in ultra-pure water for microelectronics globally. Given India’s push into semiconductors, is this a space you’re actively targeting here? GD: India currently lacks our ultra-pure water operations, yet our worldwide references are exceptionally strong, especially in South Korea, where we partner with leading chip producers SK Hynix and Magnachip. We handle their complete water cycle at their main sites, including producing ultra-pure water, recycling it, and managing the entire process. It’s a domain where Veolia has deep expertise. The 'Hubgrade' control center at Veolia's Orange City Water (OCW) Head Office in Nagpur. This advanced digital system provides real-time monitoring, significantly reducing non-revenue water and ensuring transparent, efficient service for citizens. India is absolutely on our radar for this, and we think our contributions extend beyond technology to encompass significant long-term operational capacity. Water is vital to chip manufacturing. The quality requirements are extraordinarily stringent and must be maintained consistently. A significant challenge for semiconductor fabs, beyond quality, is their immense water consumption and the need to access it responsibly without compromising other water supplies. For this industry to operate sustainably in India, reusing and purifying water to extremely high standards will be essential. The same logic applies to data centres, which are massive water consumers. We have successfully implemented solutions globally and anticipate strong opportunities for their deployment here. India is currently the subject of several ongoing discussions; once they progress, we will act swiftly. ET: The Bhandup and Panjrapur water treatment projects in Mumbai are massive undertakings. How significant are these for Veolia, both in India and globally? GD: These projects are truly groundbreaking, both for India and for the Veolia Group worldwide. The Bhandup plant, with its 2,000 MLD capacity, is poised to become Asia’s largest water treatment facility and possibly one of the world’s biggest. The immense size is crucial for showcasing our ability to handle intricate, extensive infrastructure projects. Mumbai faces growing resource limitations, including water, land, energy, and waste management, due to its rapid urbanisation. We are committed to being a true partner to Mumbai in tackling these challenges. Once they are operational, projects in Bhandup and Panjrapur will supply almost 60% of Mumbai’s water. That’s a material contribution to the city’s water security, and we are also doing this in a way that conserves land because the technology we use is compact. A plant of equivalent capacity using conventional technology would occupy far more space. We are also optimising for energy and chemical efficiency, which means we are conserving multiple resources simultaneously. The 240MLD water treatment plant featuring Veolia's patented advanced technologies designed, built and operated by Veolia in Nagpur to support the city's enhanced 24X7 water supply. Bhandup’s projected operational date is 2029, with construction started in 2025, and Panjrapur is due to come online in 2030. This four-year construction timeline is typical, considering detailed design, permits, site preparation, and the monsoon season. In India, you can realistically anticipate nine months of useful construction annually. Factor that in, and the timeline is logical. ET: These projects are being delivered through a subcontracting model with Welspun Enterprises. How effective is this partnership model, and what must Indian cities get right to make such arrangements work? GD: This model is truly beneficial for everyone involved, aligning with our approach to integrating into local systems when expanding internationally. Working with local partners is something we are quite comfortable with. The reason for its effectiveness lies in each partner dedicating themselves to their primary strength. Welspun possesses the project management expertise for a construction project of this scale. Despite being a massive group with €44.7 billion in global revenue and 230,000 employees, we do not have the necessary India-specific workforce and construction capabilities to undertake a project of this magnitude independently. This is where Welspun fills that gap. What we bring is the technology, where Veolia’s advanced water treatment systems are, if you like, the engine of the plant and, critically, our long-term operations and maintenance capability. Our core strength lies in decades of operating facilities at their best, rather than just building them. The Mumbai municipality’s role in policy and governance includes making decisions on project financing, tariff structures, and the distribution of benefits to citizens. For PPP models to succeed, the contract needs to be truly equitable, assigning risks to the parties best equipped to manage them. The model becomes highly effective when that alignment is correct, and when it isn’t, you get disputes. The primary focus for Indian cities should be achieving the correct contractual balance. ET: For years, Indian cities have aimed for a 24X7 water supply. What are the biggest obstacles to actually achieving it? GD: The fundamental challenge is that we are never starting from scratch. A greenfield project offers a straightforward approach, ensuring continuous supply from its inception. What we face is a living, evolving system that was not originally designed for uninterrupted service, where you cannot simply replace everything. The process involves gradual intervention, upgrading, and redesign, all within the city’s ongoing operations. Veolia's 91 MLD Sewage Treatment Plant in Nilothi, Delhi a model of sustainable urban infrastructure, generates 50% of its energy on-site from municipal wastewater sludge, showcasing innovative resource recovery. The evolutionary journey of a city like Mumbai, with its scale and intricacy, is a lengthy and arduous process. Very often, the first challenge is even more basic: understanding exactly where the network is. Over many decades of gradual expansion, numerous cities have failed to develop a comprehensive understanding of their pipe systems. The initial efforts involved in setting up GIS systems, evaluating the state of pipes and valves, and ranking which ones need replacing are considerable on their own. The second challenge is that the ecosystem doesn’t stand still. The population grows, new industries arrive, and demand patterns shift, yet your strategy has to accommodate that dynamism. The third challenge, a governance issue, involves shifting from a system lacking universal metering, delivery, and payment for water to one with accountability at all stages. Sustained policy commitment is necessary to get all stakeholders, including citizens, utilities, and political leadership, on board with that transition. We have observed the process in Nagpur, where we manage the entire city water concession. Between 2011 and now, we’ve nearly quintupled the number of connected households, doubled the network’s size, and reduced non-revenue water from 70% to 30%. It is achievable, but it will take years of synchronised investment and hard work. ET: Energy efficiency and decarbonisation are becoming central to water treatment. How is Veolia integrating digital tools, AI, and low-carbon practices into large-scale operations? GD: Energy efficiency is a key consideration in our technology development and our day-to-day operations. In Nagpur, for example, we have deployed what we call Hubgrade, a fully digital monitoring and control system for the entire water concession. Visiting our control room would give you a real-time overview of everything, including treatment plants, the distribution network, and water loss locations. This provides full insight into your system, which is the basis for optimisation. We also utilise Digital Twin technology, a virtual copy of the physical system, for monitoring. This allows us to simulate various operational scenarios and pinpoint optimisation strategies before applying them. And the platform is fully transparent to the municipality, where the client has complete visibility into their own water infrastructure, which many municipal commissioners had never had before. Today, the commissioner in Nagpur can see the entire city's water supply on a screen in their office. Such accountability transforms system management. Regarding AI, yes, we are developing various applications, with a primary focus on leakage detection. By integrating network data analytics with specific field inspections, we can accurately pinpoint leak locations down to the street level. It greatly cuts down on the expense and duration of physical checks. To be upfront, like many businesses, we're still figuring out how to best integrate AI into our daily work, but the potential is considerable, and we are investing in it. ET: You have been in India for a decade. How have you seen the country’s approach to sustainability and decarbonisation evolve? GD: My optimism is real, and it stems from my in-depth understanding of this, not from political politeness. People tend to focus on what isn’t working, but if you step back, the transformation is real. We conduct the Barometer of Ecological Transformation every two years, surveying citizens, policymakers, and business leaders in various countries. The India results consistently impress me. There’s a high level of environmental consciousness here, and crucially, people say they are willing to pay more for better environmental outcomes. They understand that failing to address these challenges is itself a threat to India’s growth trajectory. At the policy level, we are seeing movement, too. The new MSW regulations, the government’s bio-CNG initiatives, and the Union Budget’s focus on CCUS all indicate a significant change. And I believe personal experience plays a role in that. Experiencing 50-degree summers in Delhi makes the reality of climate change undeniable. People feel it. An aerial view of Veolia's Integrated Common Hazardous Waste Landfill Facility in Kutch, Gujarat provides safe disposal for industrial hazardous waste. The regulatory environment has also strengthened, where the Pollution Control Boards, with oversight from the National Green Tribunal (NGT), are exerting much more pressure on industrial compliance than they were a decade ago. It’s still imperfect, but the direction is right. This is important for us, as Veolia is dedicated to complete adherence, not only to local laws but also to our own internal benchmarks, which are often more stringent. That is what we bring to our customers: the assurance that we will not cut corners. There is also a broader dynamic at play. With Indian companies increasingly involved in worldwide supply chains across industries like pharmaceuticals and manufacturing, adhering to regulations is now a business imperative, not solely a legal requirement. Global partners and shareholders will raise enquiries that regulators might overlook, and I see more and more of our industrial customers internalising this. Compliance is becoming a licence to operate and to survive. ET: Many municipalities struggle with the human capacity to sustain complex water systems over time. How do global operators like Veolia help bridge that gap? GD: This is really at the heart of what we do, our core strength and what differentiates us, which is long-term operational capability. We have seen this pattern repeatedly: infrastructure gets built, then it underperforms because no one is managing it to its potential. You build a hundred plants operating at 30% capacity, and the answer seems to be to build more plants. That logic has to change, and the imperative now is to operate existing infrastructure at its optimum. When we operate a facility, we train our own people, but we also invest in the broader ecosystem. We train subcontractors and we build capability within the municipalities we partner with. We have been here 25 years, and our intention is to be here for the next 30 or more. Considering the long-term perspective, developing human capital, and enhancing the industry's capacity is both morally correct and economically advantageous. A more capable municipal customer, one that asks harder questions and holds us to higher standards, makes us better too, and that is the kind of ecosystem we want to help build. ET: How critical is India to Veolia’s global strategy, and what are your growth plans here? GD: I firmly believe India’s importance cannot be overstated, and this is not a corporate cliché. That is why I have been here for 10 years, and there is enormous potential here for a company like Veolia that can deliver integrated solutions across multiple environmental challenges. We have competitors in water, and we have competitors in waste management. However, there are significantly fewer companies capable of generating value by integrating water, waste, and decarbonisation. That is what makes us different. The broader strategic context matters too, and the global search for alternatives to China as a manufacturing and supply chain hub has put India in a unique position. This market, characterised by a young, growing populace and an expanding middle class, is among the few truly large global markets currently accessible. For the Group, being present and invested in India is important, as the coming 20 years belong to the nation. Our ambition is to double our size in India by 2030, which is ambitious but achievable, given the market dynamics. We will pursue it across several fronts, which includes expanding our municipal water business with a focus on water reuse and recycling; scaling our hazardous waste platform with our next facility is likely to be in Maharashtra, with investment beginning in the second half of this year. We will also support industrial decarbonisation through energy optimisation and alternatives to coal and bio-CNG from sludge management, which I see as a significant emerging opportunity. Sludge, in particular, is emerging as a major obstacle for Indian municipal bodies, while simultaneously being a valuable asset. Sludge contains energy and can be converted into fertiliser. Right now, India imports them both at considerable cost. Economically and environmentally, the capacity to produce these locally from waste streams represents an ideal circular solution. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now!
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