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India, the world's third-largest emitter of carbon dioxide, is burning more coal as demand for power rises, most of which is coal-fired. View More
NEW DELHI, INDIA - APRIL 27: People are seen protecting themselves from the sun on a hot summer day at Raisina Hill on April 27, 2026 in New Delhi, India. Delhi-NCR experienced intense heatwave conditions with maximum temperatures reaching between 42 degrees Celsius and 45 degrees Celsius across the region. (Photo by Raj K Raj/Hindustan Times via Getty Images)Hindustan Times | Hindustan Times | Getty Images India, the world's third-largest carbon dioxide emitter, is burning more coal as energy supply disruptions due to the Iran war and a nationwide heatwave have boosted demand for the dirty fuel.More than 70% of India's power is generated from coal-fired plants, and energy experts told CNBC that the share is expected to rise this year. In February, India announced that more than 52% of its total installed power generation capacity came from non-fossil fuel sources, with the majority coming from solar, hydropower and wind. Yet, coal-fired power plants, which account for nearly 43% of total generation capacity, remain the dominant source of energy.Coal-fired power generation in India in April increased to 164.9 average gigawatts, compared with 160.7 average gigawatts last year, according to data shared by S&P Global Energy. According to the data, coal-fired power generation rose sequentially by 5.6 average gigawatts, or 3.5%, in April.About 4% of India's installed power generation capacity is gas-fired and runs on liquified natural gas, of which about 60% is imported through the Strait of Hormuz. Higher coal burn The higher liquid natural gas prices have also made gas-based power generation economically unviable, said Girish Madan, director of corporate ratings at Fitch Ratings in Singapore. "So, coal-based power needs to share a higher burden in these peak summer months," he added.Electricity demand in India is rising as temperatures surge amid heatwaves. On April 27, data compiled by New Delhi-based air quality and temperature monitoring platform AQI showed that all 50 of the world's hottest cities were in India."Heatwave conditions, with readings above 40-45 degrees C (Celsius), across several places in India have lifted power demand," Andre Lambine, lead APAC short-term power and renewables research at S&P Global Energy, told CNBC in an email.He added that while gas-fired generation rebounded in the last weeks of April, it remains "1.5 average gigawatts below 2025 levels, underscoring the continued displacement of gas by coal in the power mix."If the El Niño climate effect develops, there could be a "potential growth of 10% year over year for coal-fired power generation in India," he said.India is expected to experience relatively higher temperatures this month, which could result in "heat wave conditions across parts of Northwest, Central and West India, along with the East Coast," the government said in a release on May 2. NEW DELHI, INDIA - APRIL 26: People are seen out during a Hot day at Humayun's Tomb, on April 26, 2026 in New Delhi, India. Hindustan Times | Hindustan Times | Getty Images While demand for coal is primarily driven by the power sector, other industries are also leaning on the fossil fuel, said Firat Ergene, lead Insights analyst for coal, petcoke, and cement at Kpler.Additional demand is coming from industries such as cement producers, he told CNBC.Supplies of petroleum coke, which is burned as fuel, have been disrupted by the Middle East conflict, pushing prices higher. This has prompted cement companies to substitute petcoke with coal, Ergene explained.Last month, India vowed to reduce the emissions intensity of its economy by 47% by 2035, in line with its goal to become a net-zero country by 2070. India is the world's third-highest emitter of carbon dioxide, after China and the U.S.While India's carbon dioxide emissions are still rising, the growth rate last year was the slowest in more than two decades, according to an analysis by the Center for Research on Energy and Clean Air, a policy think tank. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
The domestic equity benchmarks rallied on May 4, supported by positive auto stock performance and a dip in crude prices. Nifty 50 increased by 1% to 24,236, indicating a consolidation phase as it faces resistance levels, while broader markets may need time to stabilize. View More
Until U.S. Attorney Jeanine Pirro's comments, prosecutors had not disclosed whose bullet hit the agent. View More
From left, Acting Attorney General Todd Blanche, Jeanine Pirro, the U.S. attorney for Washington, D.C., and FBI Director Kash Patel conduct a news conference at the Department of Justice about Cole Tomas Allen, the suspect in the White House Correspondents' Association dinner shooting, on Monday, April 27, 2026.Tom Williams | Cq-roll Call, Inc. | Getty Images U.S. Attorney for the District of Columbia Jeanine Pirro said Sunday that the alleged White House Correspondents' Association dinner shooter, Cole Tomas Allen, shot a Secret Service agent as he attempted to storm the Washington Hilton ballroom last weekend. Pirro, speaking on CNN's "State of the Union," said new ballistics evidence showed the agent's protective vest contained a buckshot pellet from the Mossberg pump action shotgun Allen allegedly carried on the night of the shooting.Allen has been charged by federal prosecutors with attempting to assassinate President Donald Trump in the shooting that left one Secret Service agent shot but uninjured. Prosecutors have also charged Allen with the discharge of a firearm during a crime of violence, but until Pirro's comments, law enforcement officials had not disclosed whose bullet hit the agent. Read more CNBC politics coveragePirro reveals new Trump attack evidence; Cole Allen challenges 'suicide precautions'Bard President Botstein retiring after Jeffrey Epstein ties detailedTrump tells Congress hostilities in Iran 'have terminated' at war powers deadlineLutnick gets grilling on Nvidia chip sales to China in Sen. Chris Coons letter "It is definitively his bullet," Pirro said. "He had every intention to kill him and anyone who got in his way on his way to killing the president of the United States." It's so far unclear if the determination that Allen was allegedly the person who shot the agent will result in any additional charges. Prosecutors have warned that more charges may be filed in the case. The shooting at the annual press dinner â which Trump, Vice President JD Vance and many high-ranking administration officials were attending â marked the third attempt on the president's life since 2024. Allen, 31, of California, has been held in custody since the night of the shooting. He waived his right to challenge his detention on Thursday. A video still showing Cole Tomas Allen running through security at the White House Correspondents' Association dinner.Courtesy: USAttyPirro Allen, on Sunday, was removed from any suicide precautions in jail following an emergency motion from his attorneys.Allen's attorneys, in a court filing on Saturday, asked the court to remove him from any suicide precautions while he is imprisoned. The emergency motion was withdrawn on Sunday after his release from suicide precautions, and Allen's attorneys requested a Monday hearing that was scheduled to be canceled. Magistrate Judge Zia M. Faruqui on Sunday denied the motion to vacate the scheduled hearing, however, saying in a minute order that the "Court has grave concerns" about the defendant's "seemingly unprompted solitary confinement for days and overall conditions of confinement."Allen's lawyers, in asking for his removal from suicide status, said they "have not seen, and therefore do not argue, that there is expressed intent to punish Mr. Allen.""Nevertheless, his placement on suicide precautions amounts to punishment where, as here, he has exhibited no indications of suicidality," they wrote.They contended his placement on "suicide watch and suicide precautions amount to violations of his rights under the Due Process Clause to the U.S. Constitution."Allen's attorneys said he was assessed on May 1, and a jail nurse determined he should be removed from suicide watch and suicide precautions protocols. They reported that he was still on suicide precautions during a visit that day, and that they believe he is still under such precautions. The defense said Allen's presence on suicide precautions limited his ability to mount a defense and deprived him of his due process rights. A person held in suicide watch or precautionary protocols "is not permitted to interact with others inside the facility, receive visits, make phone calls, or access commissary or resources such as the law library or jail tablets.""Continued housing under suicide precautions is unnecessary and violates Mr. Allen's due process rights by depriving him of dignity and access to resources inside the jail," they wrote. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Ramkrishna Forgings is set to make waves in the manufacturing sector as they commence operations at their Chennai facility in June. This venture into forged wheel production positions them to create Asia's second-largest wheel manufacturing unit. With an impressive order book of ?9,635 crore, FY27 is shaping up to be a pivotal year, underlining the company's ambitious growth trajectory. View More
New Delhi: Ramkrishna Forgings is gearing up to start commercial operations of its Chennai facility from June this year, a development that will mark the company's foray into forged wheel manufacturing business. The company has been setting up the facility at an estimated cost of Rs 2,000 crore after receiving a Letter of Award (LOA) from the Indian Railways in 2023, Naresh Jalan, the Managing Director of Ramkrishna Forgings, said. Kolkata-based Ramkrishna Forgings has posted a consolidated net profit of Rs 72 crore and income of Rs 4,251.19 crore in FY26. Speaking further about the Chennai project, Jalan said it has been set up in a joint venture with a private entity, in which his company holds a majority stake. He said the facility would be Asia's 2nd largest wheel manufacturing unit with an annual production capacity of 2,28,000 forged wheels. Live Events The project has been executed in two phases - Phase I, costing Rs 1,810 crore and Phase II (Rs 370 crore) - through a combination of debt and equity, Jalan said. Ramkrishna Forgings is a manufacturer and supplier of closed-die forgings of carbon and alloy steel, micro-alloy steel, and stainless steel forgings. During the fourth quarter of FY26, the company secured new orders worth Rs 594 crore, of which 56 per cent of the orders were from the automotive segment and the remaining 44 per cent from the non-automotive segment. As of March 31, the company's total orderbook was at Rs 9,635 crore to be executed over 4 years. About the outlook, Jalan said, "FY27 is poised to be a strong year for the company. A healthy order book provides strong revenue visibility, while improving demand conditions, better operating leverage, continued diversification, and disciplined capital allocation position us well for continued long-term value creation for all stakeholders." .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)
Jindal Steel International had made an indicative bid for
Thyssenkrupp Steel ?Europe (TKSE) last year, leading to months of
due diligence and ?negotiations View More
While SAIL is trading at a 15-year high, today it trades at a price/book of 1.3 times vs 2.25 times in December 2010 View More
Thyssenkrupp AG and Jindal Steel International have paused discussions on a potential stake sale in the German firm’s steel unit. The company said the assumptions for the deal have changed, citing progress in restructuring its steel business and a more favourable regulatory environment in Europe, which offers better growth prospects despite high energy costs. View More
Thyssenkrupp AG said it and Jindal Steel International agreed to pause talks about the Indian company acquiring a stake in its steel unit. “The original assumptions and prerequisites for a potential sale of Thyssenkrupp Steel have significantly changed in recent months,” the German company said in a statement on Saturday, as per Bloomberg. “Thyssenkrupp has made significant progress in realigning its steel segment,” it said, adding that the regulatory environment for the industry in Europe has become “fundamentally more favorable” and “offers the sector significant potential for stabilization and growth” despite the current surge in energy prices. A deal had become increasingly elusive in the months since Jindal submitted a non-binding offer last fall to buy Thyssenkrupp Steel Europe outright. By March, senior officials at Thyssenkrupp had begun to doubt that an agreement could be reached, Bloomberg reported at the time. The sides hit roadblocks over how much funding the Indian group would be able to provide through a prolonged downturn in Europe’s steel market and how much cash Thyssenkrupp itself would need to inject into the unit before handing control to a new owner. Live Events The German company could have to commit at least €2 billion ($2.3 billion) over time to make a deal work, people familiar with the negotiations said at the time told Bloomberg. Thyssenkrupp Steel has been seeking billions of euros in subsidies from the German government to help fund a raft of decarbonization measures, but uncertainty around approvals for this state aid are also complicating negotiations, the people said. Thyssenkrupp’s goal remains to make the unit autonomous, the company said on Saturday. (With inputs from Bloomberg) .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)
Israel has reportedly sent its advanced 'Iron Beam' laser defence system and surveillance tech to the UAE to counter Iranian threats, marking a significant defence cooperation step. This deployment, alongside US military sales to regional allies, underscores escalating tensions and a bolstered regional security posture amid the ongoing US-Iran conflict. View More
From a cotton trader to a nation builder, the visionary behind steel, science, and modern Indian industry. View More