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India is implementing temporary measures to address cooking gas shortages. Commercial LPG for eateries will be rationed. Alternative fuels like kerosene, biomass, and coal are permitted. These steps aim to ease pressure on LPG supplies amid disruptions from West Asia. The government assures domestic consumers that supplies remain stable. Citizens are urged to avoid panic booking and conserve fuel. View More

Seeking to calm frayed nerves and ease pressure on cooking gas supplies, the government on Thursday announced a series of temporary measures, including rationing commercial LPG for eateries and allowing the use of alternative fuels such as kerosene, biomass and coal. The steps come as energy supplies from West Asia remain disrupted due to the ongoing military conflict, prompting concerns across India’s hospitality sector and among consumers. Also Read: LPG output in India surges 30% as govt tackles gas shortage Under the new measures, commercial establishments such as hotels and restaurants will be allowed to procure only 20% of their average monthly LPG consumption. The government has also increased the mandatory gap between booking two domestic LPG cylinders in rural areas from 25 days to 45 days as bookings surged amid panic buying. The decision was taken by a three-member committee of oil marketing companies following complaints from across the country about shortages of cooking gas cylinders, even as the government insisted that overall supplies remain adequate. Live Events Officials from the Ministry of Petroleum and Natural Gas said the government has allocated an additional 48,000 kilolitres (kl) of kerosene to states on top of the regular monthly quota of one lakh kl for use as cooking fuel. The ministry has also asked state and Union Territory pollution control boards to allow the temporary use of biomass, RDF pellets — produced from municipal, industrial and commercial waste — and coal as alternative cooking fuels in the hospitality and restaurant sector for a period of one month. Officials said the measures were aimed at easing immediate pressure on LPG supplies while the government works to secure additional energy cargoes from alternative sources amid the disruption in West Asia. Also Read: India boosts LPG imports from US, Norway as Gulf supplies tighten Despite reports of shortages, the government maintained that domestic cooking gas supplies remain stable, with about 50 lakh LPG cylinders being distributed every day. “It’s a difficult situation. But govt is making all efforts to ensure that the supply to domestic consumers is maintained. On the distribution side, no dry retail outlet has been reported but there is a manifold increase in bookings because of the panic. We urge citizens to avoid panic booking and all efforts have to be made to conserve fuel wherever possible,” said Sujata Sharma, joint secretary, ministry of petroleum and natural gas. She added that it will be the responsibility of states and Union Territories to identify beneficiaries for the distribution of kerosene oil. To monitor the evolving situation, the government has also set up a three-member group of ministers headed by Home Minister Amit Shah. External Affairs Minister S. Jaishankar and Petroleum Minister Hardeep Singh Puri are the other members of the panel. Officials said the government is also tracking consumer complaints related to LPG cylinders through the National Consumer Helpline to ensure quick redressal. Speaking in the Lok Sabha, Petroleum Minister Hardeep Singh Puri said the Strait of Hormuz — a crucial energy transit route — had remained disrupted for the 13th consecutive day. “For the first time in recorded history, the Strait of Hormuz has been effectively closed to commercial shipping. Despite India having no role in causing the conflict, like many countries, India has to navigate through its consequences,” Puri said. The strait is a critical energy artery for India, through which the country receives more than half of its 5.8 million barrels per day of crude oil imports, 55% of its LPG supplies and 30% of its LNG. Puri, however, said India’s crude supply position remained secure. “The availability of petrol, diesel, aviation turbine fuel, kerosene and fuel oil is fully assured. Retail outlets across the country are stocked, and supply chains for these products are functioning normally,” the minister said. He added that India had diversified its energy procurement and was securing cargoes from the United States, Norway, Canada, Algeria and Russia, apart from available supplies from Gulf countries. On domestic LPG availability, Puri told Parliament that the average delivery time for cooking gas cylinders remains 2.5 days, unchanged from pre-crisis levels. “Field reports indicate hoarding and panic booking at the distributor and retail level, driven by consumer anxiety rather than any actual supply shortage,” he said. “The House should be clear on this: the rush-booking pressure in some localities reflects a demand distortion, not a production or supply failure,” Puri added. Explaining the rationale behind regulating commercial LPG supplies, Puri said the segment previously operated in a completely deregulated market without any booking requirements or government subsidy. “In a supply-constrained environment where public anxiety is elevated, this deregulated structure creates a direct and uncontrolled pathway for hoarding, diversion and resale at inflated prices... The govt has taken the responsible course: to regulate this channel with clear priorities and a transparent allocation mechanism,” he said. (With inputs from TOI) .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)

Experts unveiled a vision for super-efficient, humidity-optimized ACs that can cut energy use by 60% and halve peak power demand. This innovation is crucial as 76% of the population faces extreme heat risk and AC demand is projected to surge. View More

With India experiencing record-breaking heat and surging demand for cooling, leading voices from across the air conditioning and HVAC industry gathered at the recently concluded summit to confront one of the country’s most urgent challenges: how to deliver affordable, resilient comfort for a rapidly warming nation. As air conditioner sales climb toward unprecedented levels and 76% of the population faces extreme heat risk, the arrival of summer has been abrupt and intense. Mumbai’s recent temperature spike to 38.7°C, nearly six degrees above average for March, serves as a stark reminder of the escalating climate pressures. Industry experts unveiled a bold vision for the future: widespread adoption of super-efficient, humidity-optimised air conditioning systems that can cut energy use by 60%, halve peak power demand, and transform the way India keeps cool. The urgency of the moment was underscored at the session “Can Today’s Air Conditioners Keep Up with a Hotter, More Humid World? Delivering Affordable, Efficient Comfort for the Global South,” organised by RMI and CEPT University at the Jio World Convention Centre. The event convened leading voices from across the ecosystem, including Sanjay Sudhakaran, Managing Director, Bosch Home Comfort India Ltd; Akshima Ghate, Managing Director, RMI; Aun Abdullah, Vice President, Lodha; Mukundan Menon, Managing Director, Voltas Limited; Bishal Thapa, Chief Strategy & Impacts Officer, CLASP; Ankit Kalanki, Principal, RMI; and Dr. Yash Shukla, Principal Researcher and Centre Head, CARBSE, CEPT University. Sanjay Sudhakaran, Managing Director, Bosch Home Comfort India Ltd, emphasised, “As the heat waves intensify and climate patterns shift, India stands on the brink of a cooling revolution. The Indian air conditioning market size was valued at USD 6.15 billion in 2025 and is projected to reach USD 21.59 billion by 2034, growing at a remarkable compound annual growth rate of 14.98% from 2026 to 2034. For the first time, climate solutions, such as energy-efficient inverter air conditioners, government-backed incentive programs, and the widespread availability of affordable smart cooling technologies, are within reach for millions of Indians. This accessibility is driven by falling unit costs, increased domestic manufacturing, and supportive policies like the India Cooling Action Plan . As a result, these innovations are transforming not just homes and businesses but entire communities across the country, backed by the state-of-the-art R&D centres and testing labs.” Projections indicate that by 2050, the nation will operate more than one billion room air conditioners, driving a ninefold increase in cooling-related electricity demand compared to 2022. According to the Rocky Mountain Institute (RMI), today's air conditioners are optimised for temperature-only cooling, not humidity removal. As a result, when people feel uncomfortable due to high humidity, they reduce the AC set point and overcool to compensate, which not only ‘chills’ the space but wastes energy. Most ACs sold today can consume over 30% additional energy in real-world conditions to manage humidity, as revealed by the nine-month field testing conducted by RMI in Palava City. However, consumers have no visibility of this real-world energy use when they purchase the AC, as this ‘humidity-driven’ overcooling is not accounted for in the performance metrics adopted today. Industry estimates suggest that 60% of Indian districts, representing 76% of the population, are now at very high risk of extreme heat. Meanwhile, across Southeast Asia, air conditioner demand is expected to surge from 40 million to 300 million units by 2040, with cooling already accounting for as much as 10% of peak electricity load; it is expected to surge to 30% by 2040. Live Events Akshima Ghate, Managing Director, RMI, said in a statement “As India faces record heat and humidity, we cannot afford to lock ourselves into inefficient cooling solutions. Now is the time to act. By building right the first time and accelerating the adoption of super-efficient, humidity-optimised ACs, we can transform comfort for millions while safeguarding our energy future. The choices we make today will define our resilience for decades to come.” Industry leaders emphasised that India stands at a pivotal juncture, equipped with a strong policy foundation through the India Cooling Action Plan, robust energy efficiency frameworks, a growing manufacturing base, and increasing investments in research, development, and supply chains. These strengths position the nation to shape the global future of air conditioning, not only addressing domestic needs but also advancing as a leader in sustainable cooling exports. Mukundan Menon, Managing Director, Voltas Limited, said in a statement “As India’s air conditioning market doubles over the next five years, we must ensure efficiency standards keep pace with real-world performance. Addressing humidity and updating our testing protocols is essential, not just for energy savings, but for delivering true comfort and safeguarding our energy future.” The discussion further highlighted the country’s potential to lead the development and deployment of next-generation, super-efficient, humidity-optimised air conditioning. Stakeholders agreed that collaboration across the cooling ecosystem, including buyers, manufacturers, standards bodies, and policymakers, is essential to drive meaningful market transformation. Bishal Thapa, Chief Strategy & Impacts Officer, CLASP, highlighted, “Innovation is the game-changer India needs, just as changing the turf transformed hockey, addressing humidity in air conditioning will change the future of cooling. If we reimagine our standards and invest in super-efficient, humidity-optimised solutions, India can leap ahead, making sustainable comfort accessible to all and setting a new global benchmark for leadership and manufacturing.” As temperatures and humidity continue to rise, the commitment to high-performance, sustainable air conditioning is no longer just an option; it is a national imperative. The momentum witnessed at the session sets the stage for India to lead the world in delivering affordable, resilient, and climate-smart comfort for the future. .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!

The Department of Education has scaled back its oversight of student loan servicers, a new report from the nonpartisan Government Accountability Office finds. View More

A school bell from Milford, Pennsylvania, stands in front of the Department of Education's headquarters in Washington, March 6, 2025.Chip Somodevilla | Getty Images News | Getty Images The U.S. Department of Education has scaled back its oversight of the companies that manage federal student loans, a new congressional watchdog report found.In February 2025, the department stopped "assessing servicers on accuracy and call quality," according to the report from the nonpartisan Government Accountability Office. That change occurred shortly before the Trump administration terminated around 50% of the Education Department's staff. Without its evaluation of student loan servicers, the GAO wrote, the Education Department "can't be sure that borrower records are correct and servicers are giving borrowers quality information." The office also said that borrowers could be placed into the wrong repayment status or overbilled as a result. "Instead of providing relief to 43 million Americans who are drowning in student debt, the Trump Administration has made it harder for them to understand how much they owe and how long it will take to pay back," said Sen. Bernie Sanders, I-Vt., in a statement. Sanders was among the lawmakers who requested the GAO investigation. Ellen Keast, press secretary for higher education at the Education Department, told CNBC the agency uses "a variety of methods" to assess loan servicers. "The agency uses data quality assessments, cross-system assessment data validation, daily and weekly performance reporting from servicers, weekly executive-level check-in meetings and borrower satisfaction surveys to monitor and improve the customer service delivered by our vendors," Keast said. Read more CNBC personal finance coverageIran war heightens affordability issues ahead of the Fed's March meetingCouples often miss this 'overlooked tax break' for retirement savers: CFPTrump administration has scaled back oversight of student loan servicers: GAOSocial Security 2027 COLA forecast may rise with high oil pricesYou can't 'borrow your way out of debt,' expert says, but more people are tryingHere's the inflation breakdown for February 2026 — in one chartSAVE plan used by millions of student loan borrowers is over, court ordersIdentity theft and your taxes: It's 'a terrible reverse lottery,' one victim saysAs Iran war disrupts oil prices, consumers could be 'hammered,' economist saysMillion-dollar earners have already stopped paying into Social Security for 2026Women and the K-shaped economy: Lower pay, affordability issues reduce spendingSmall 401(k) accounts may follow workers to their next job — except Roth moneyIn a jobs apocalypse, look to 'AI-proof' skilled trades, career experts sayMiddle-income homebuyers have $30,000 more buying power than a year agoAverage IRS tax refund is up 10.6%, early filing data showsCNBC's Financial Advisor 100: Best financial advisors, top firms ranked The drop in oversight of student loan servicers comes as the Trump administration is working to implement a massive overhaul of the lending system. President Donald Trump's One Big Beautiful Bill Act eliminates several affordable repayment plans and other relief. Many borrowers are likely to have questions for their servicers amid the changes, or to need assistance navigating the new options, consumer advocates say. More than 42 million Americans hold student loans, and collectively, outstanding federal education debt exceeds $1.6 trillion, according to the Congressional Research Service. Student loan servicers have a spotty history The Education Department contracts with different companies to service its federal student loan portfolio. It pays these companies more than $1 billion a year to manage borrowers' accounts, according to higher education expert Mark Kantrowitz.The servicers process borrowers' loan payments, supply information to borrowers and help them access repayment plans and forgiveness opportunities. The Federal Student Aid Office at the Education Department managed the assessments of these student loan servicers. However, the Trump administration has reduced the staff at the FSA to 777 people from 1,433, the GAO said. Student loan servicers have long faced criticism from advocates and lawmakers for misleading borrowers or failing to provide them with sufficient support. "Without oversight to ensure that loan servicers provide borrowers with correct information, borrowers may make decisions that negatively impact their finances, such as choosing the wrong repayment plan, not qualifying for forgiveness and defaulting on their student loans," Kantrowitz said. The Biden administration withheld $7.2 million in payment from servicer Mohela in 2023 for not sending timely billing statements to 2.5 million borrowers, resulting in more than 800,000 borrowers becoming delinquent. In 2017, days before Trump took office, the Consumer Financial Protection Bureau sued Navient. It accused the then-servicer of steering student loan borrowers away from affordable repayment plans and into expensive forbearances, which caused many to incur steep interest charges. Navient stopped servicing federal loans in 2021 and, in 2024, reached a $120 million settlement with the CFPB. As part of that deal, the CFPB banned the company from ever again managing federal student loans. Mohela and Navient did not immediately respond to a request for comment. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Despite concerns over the Strait of Hormuz being shut down, India’s fuel supply stands strong. Petroleum Minister Hardeep Puri confirmed in the Lok Sabha that there's no shortage of petrol, diesel, or kerosene, attributing the current rush to panic buying fueled by anxiety rather than any real supply crisis. View More

The Strait of Hormuz has been effectively closed to commercial shipping for the first time in recorded history, but India’s fuel supply remains secure, Petroleum Minister Hardeep Puri assured the Lok Sabha on Thursday. Addressing concerns over panic buying, Puri clarified, “Panic on LPG supply [is] driven by consumer anxiety rather than supply shortage,” adding, “There is no shortage of petrol, diesel, kerosene.” Fuel retail outlets are fully stocked, and supply chains are operating normally. Check out our live coverage on US-Israel war with Iran Highlighting the impact of the Prime Minister’s diplomatic efforts, Puri said India has secured crude volumes exceeding what the disrupted Strait could have delivered. Non-Hormuz sources now account for 70% of crude imports, up from 55% before the crisis, while LPG production has increased by 28% over the past five days. Large LNG shipments are arriving almost daily via alternative routes. “The world has not faced a moment like this in energy history,” Puri said. India is sourcing cargoes from the US, Norway, Canada, Algeria, and Russia, with refineries running at high capacity utilisation. Alternate fuels are being deployed to ease pressure on LPG and gas. Live Events Also Read: India cooking gas crunch fuels inflation fear as Iran war widens Crude and fuel supply India’s crude imports are secure and diversified, with supply from 40 countries compared to 27 in 2006–07. Refineries are operating at high capacity, ensuring uninterrupted availability of petrol, diesel, aviation turbine fuel, kerosene, and fuel oil. Additional PDS kerosene has been issued to states. Natural gas and LPG Domestic natural gas production stands at 90 MMSCMD, supplemented by alternative LNG imports. “Domestic piped gas to homes and CNG for vehicles receive 100% supply with no cuts. Industrial and manufacturing consumers will receive up to 80% of their previous six-month average,” Puri said, noting that fertiliser plants and power generation are fully supported. LPG imports, previously heavily reliant on Gulf countries, have been diversified to include the US, Norway, Canada, Algeria, and Russia. “In the last 5 days, LPG production has been increased by 28% through refinery directives, and further procurement is actively underway,” he added. Domestic supply is fully protected, with the standard delivery cycle unchanged at 2.5 days. Puri stressed that localized rush bookings reflect consumer anxiety rather than supply issues. Measures like Delivery Authentication Codes and minimum booking gaps for urban and rural areas have been introduced to curb hoarding and black marketing. Commercial LPG and alternate fuels To prevent diversion, 20% of the average monthly commercial LPG requirement will be allocated in coordination with state governments. Alternate fuels, including kerosene, fuel oil, biomass, and RDF pellets, are being made available for hospitality and industrial users for one month to free LPG for priority consumers. Also Read: Middle East war: OMCs to start allocating 20% of commercial LPG from today to curb hoarding, says Hardeep Puri Consumer prices and state coordination Despite global price rises, domestic LPG prices remain controlled. The PMUY beneficiary price in Delhi stands at Rs 613 per cylinder, while non-subsidised consumers pay Rs 913—well below regional comparators. State governments are coordinating closely with central authorities, with monitoring committees and anti-diversion operations in place. Puri concluded, “India is navigating the most severe global energy disruption in recorded history. Crude supply is flowing. Gas is prioritised for homes and farms. LPG production has been stepped up by 28 per cent. Consumer prices are held far below market levels. Schools are open. Petrol is on the forecourt. Every citizen has a stake in that. India must stand united behind its energy warriors, behind the institutions managing this crisis, and behind the national interest.” .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)

Brent is up 27% since the start of the war as the Strait of Hormuz is effectively shut and some oil production in the region has been curtailed. "We make the assumption in our modelling that the effective closure of the Strait of Hormuz will cause oil production in the Middle East (West Asia) to fall further in the coming weeks. We assume this shut-in production will gradually ease as transit through the Strait resumes," the EIA, the primary federal authority in the US for energy statistics, said in its short-term energy outlook. View More

NEW DELHI: The US Energy Information Administration (EIA) has forecast Brent crude oil to remain above $95 per barrel over the next two months, signalling a longer duration for the Iran war and its impact on energy markets . During afternoon trade, Brent was up 5% at about $92, suggesting the market doubted either the plan itself or its effectiveness in offsetting supplies lost due to the Gulf conflict. Brent is up 27% since the start of the war as the Strait of Hormuz is effectively shut and some oil production in the region has been curtailed. "We make the assumption in our modelling that the effective closure of the Strait of Hormuz will cause oil production in the Middle East (West Asia) to fall further in the coming weeks. We assume this shut-in production will gradually ease as transit through the Strait resumes," the EIA, the primary federal authority in the US for energy statistics, said in its short-term energy outlook. Brent prices are expected to average $91 in the second quarter of 2026 and fall below $80 in the third quarter, according to the EIA, which also raised its forecast for the average price in 2026 by 37% from last month's estimate to $79. Higher oil prices for an extended period would mean hardship for refiners as well as consumers, an industry executive said. If companies are not allowed to raise prices of petrol, diesel or LPG for long, their earnings will suffer, he said. In some other refined products such as aviation turbine fuel, however, prices should quickly reflect market realities. Live Events Before 2026 began, several forecasts had projected oil prices falling into the $50s. "This was supposed to be an easy year for oil consumers but it's turning out to be difficult," the executive said. There had also been expectations that low oil prices would allow governments to raise additional revenues by increasing fuel taxes, but the situation has now turned completely opposite, he added. With increased access to floating Russian volumes in recent days, India has been able to partly ease its crude supply crunch, though it is still unable to fully replace the lost Gulf volumes. The overall price it is paying is also much higher. The average price of the Indian crude basket for March is $95.79 per barrel compared with $63 in January. .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)

FHRAI flags LPG shortage amid West Asia tensions impacting hotel stocks, while Reliance Retail acquires Pahadi local and True North exits Anthem Biosciences stake View More

India anticipates increased reliance on coal power this summer. Tight liquefied natural gas supplies are impacting generation plans. Power companies have not bid for gas-based power. The government is preparing coal plants for higher output. India has ample capacity from coal, nuclear, hydro, and wind to meet demand. This shift ensures electricity availability for consumers. View More

India will likely lean more on its coal capacity to meet peak power demand this summer as liquefied natural gas supplies tighten after shipping disruptions linked to the U.S.-Israeli war on Iran hit exports from major producers, two industry officials said. New Delhi typically pushes power plants to ramp up generation during the April-June summer months, including ‌costly gas-fired generation, ⁠to ⁠meet surging electricity demand and subsidises the cost for companies to shield customers from higher prices. But so ​far the government has received no bids from power companies to supply 12,000 megawatt-hour of gas-based ​power for the summer months, an official with knowledge of the matter said. The tender will close in the next two days. A second official said the power ​ministry is looking to bring coal plants out of ⁠planned outages ‌and advising generators to avoid shutdowns during the peak summer months. Top utility NTPC has already told India's grid regulator it will not be ⁠able to supply gas-fired power during the April-June summer months, two company sources said. NTPC and the federal power ministry did ​not respond to Reuters emails seeking comment. Live Events EMERGENCY PROVISIONS India has invoked emergency provisions and declared force majeure, reprioritising natural gas supplies to key sectors such as households and fertiliser plants. India's Petronet LNG Ltd , the country's top gas importer, has also issued a force majeure notice to customers including top power suppliers GAIL (India) Ltd, Indian Oil ‌Corp and Bharat Petroleum Corp after supplies from Qatar and Abu Dhabi National Oil Company were halted. The country has about 20 gigawatts (GW) of gas-based ​generation capacity, ​which typically operates at ⁠6-10% utilisation due to costly LNG, but rises to about 30% during the summer months. Even if peak demand reaches 250-260 GW this summer, India is unlikely to face ​material power cuts given ample coal, lignite, nuclear, hydro and wind capacity, said Gautam Shahi, senior director at Crisil Ratings. India relies on coal power for nearly 75% of its power generation. "India's thermal coal market is seeing steady import demand, particularly for coal grades used by power producers," said Vasudev Pamnani, director at Gujarat-based coal trader i-Energy Resources. .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)

The NAACP has accused Mississippi regulators of rushing a meeting to approve xAI plans for a massive, methane-burning power plant in Southaven. View More

Elon Musk waves to the crowd during the 56th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 22, 2026. Denis Balibouse | Reuters With Elon Musk's xAI planning to build a massive, natural-gas burning power plant in Southaven, Mississippi, the state's environmental authority has scheduled a board meeting for Tuesday — Election Day for the 2026 primaries — to decide whether to grant the company key permits. The NAACP and other civil rights and environmental advocates tried to get the meeting delayed, arguing that it was being rushed and would conflict with some residents' efforts to vote. The groups also said that by holding the meeting in Jackson, nearly 200 miles away from Southaven, those directly effected by the plant are impeded from attending. "This is not only a civic duty conundrum, but an unnecessary financial burden to Black residents and individuals who live in low-income and other communities near the facility," the NAACP wrote in a letter to the Mississippi Department of Environmental Quality (MDEQ) that's dated March 8, but was released publicly on Monday. They asked that the hearing be rescheduled and moved to a site closer to the proposed facility.The MDEQ denied the request on Monday, writing in a response to the NAACP that its permit board "regularly meets on the second Tuesday of each month, which has been the standard practice for decades," and that the regulator, "considers matters on a statewide basis." A copy of the letter was shared with CNBC. The meeting is set to take place a little over a month after Musk merged xAI with SpaceX, his reusable rocket company, in a transaction that valued the combined entity at $1.25 trillion. Since starting xAI in 2023, Musk has tried to turn the AI company into an OpenAI competitor in the booming generative AI market. watch nowVIDEO5:1405:14Calculating Elon Musk's wealth: Here's what to knowSquawk Box Training and running AI models requires hefty amounts of compute and power, and rising utility bills have been partly blamed on the massive electricity consumption of new data centers. At a meeting last week with the White House, execs from tech companies, including xAI, signed non-binding pledges to supply their own power for their facilities. So far, xAI has relied on its Colossus 1 and Colossus 2 data centers in Memphis, Tennessee, just across the Mississippi state line. In Southaven, a roughly 15 minute drive from Memphis, xAI is investing in the proposed power plant, and a large data center dubbed Macrohardrr.Following the MDEQ's response on Monday, the NAACP said in a statement that by having the hearing the morning of Election Day, three hours away from the community, "their actions speak volumes." "They're trying to sneak xAI's data center into the community's backyard and they don't care about the people living there," the letter said. In February, the NAACP filed a notice of intent to sue xAI over alleged Clean Air Act violations in Southaven. As CNBC previously reported, residents in the area say they've endured round-the-clock noise pollution, and are concerned about air quality and public health issues from xAI's use of "temporary" natural gas-burning turbines. Research by scientists at the University of Tennessee found that xAI's earlier turbine use added to air pollution woes in Greater Memphis.At a public hearing on Feb. 17 in Southaven, about 200 residents turned out to implore state and local officials to deny xAI authorization to rapidly build out data and power infrastructure without greater transparency, community engagement and effective efforts to prevent noise and air pollution. Physicians, parents, teachers and local officials spoke out at the hearing. "We are slowly falling out of love with where we have decided to grow our family," said Taylor Logsdon, a mother of three, citing pollutants, noise levels and negative health effects. "It's no coincidence that this is happening now. And I feel it will only get worse." A recent investigation by Floodlight showed that xAI has been operating more than a dozen "temporary" turbines concurrently in Southaven, as it previously did in Memphis. The company has argued that the turbines did not require federal permits, but environmental compliance experts have disagreed. Community pushback and regulatory requirements are among the factors driving Musk and other tech executives to explore the potential of data centers in space.WATCH: SpaceX takes on xAI cash burn after merger watch nowVIDEO1:3901:39SpaceX takes on xAI cash burn after mergerTechCheck Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Jawed Ashraf said stronger value addition and supply chains will be key as the 40th edition of AAHAR begins in New Delhi. View More

New Delhi: India’s vast agricultural base and expanding food processing industry are positioning the country as a potential global food powerhouse, but challenges such as perishability, supply-chain inefficiencies and limited value addition must be addressed to unlock the sector’s full potential, according to India Trade Promotion Organisation (ITPO) chairman Jawed Ashraf. Speaking at the curtain raiser for the upcoming AAHAR – International Food & Hospitality Fair at Bharat Mandapam on Monday, Ashraf said the food ecosystem, spanning agriculture, processing, hospitality and exports, has emerged as one of the most significant pillars of India’s economy. “This is an extremely important sector for the Indian economy because it is directly connected to the livelihood of farmers, to small and medium-scale industry, and to broader employment in the economy,” he said. The AAHAR exhibition, which begins tomorrow and is now entering its 40th edition, reflects the growing importance of the food processing and hospitality sectors in India’s economic landscape, he added. The ITPO chief, who has also served as former Ambassador to France and Monaco and former High Commissioner of India to Singapore, highlighted that the country is among the world’s largest producers of a wide range of agricultural commodities , including dairy, sugarcane, pulses, food grains, fruits, and vegetables. However, translating this production strength into higher incomes and global competitiveness requires stronger value addition. Live Events “India has been one of the major producers of virtually every crop you can think of, but there are challenges in realising its full potential,” he said. According to Ashraf, one of the key issues plaguing the farming community is the high level of perishability of agricultural produce and the long distance between farms and consumers, particularly for small farmers. “Tthe distance between the farm and the fork on the table remains difficult for many farmers, especially small-scale farmers,” he said, adding that strengthening food processing capacity is essential not only to reduce wastage but also to increase farm incomes and create jobs in rural India. Ashraf said future employment generation in rural areas is closely tied to the growth of the food processing industry, noting that limited and shrinking arable land makes value addition through processing, supply chains, marketing and allied activities increasingly important. Speaking about India’s food processing industry, he stated that the food processing sector is today the fifth largest globally and contributes about 32% of India's total food market. "The $350-billion sector today is expected to reach about $700 billion by 2030,” he said. Besides its established export strengths in rice, marine products, animal products and spices, Ashraf highlighted India's increasing success in the high-value processed foods sector. He said the government is placing strong emphasis on diversifying trading partners through free trade agreements and expanding market access. “Food processing will be at the heart of this strategy because it is labour-intensive and driven by small-scale industries. India’s trade agreements with key markets such as the European Union, the United Kingdom and EFTA countries are expected to further open new opportunities for Indian food exports,” he added. AAHAR expands global footprint The 40th edition of AAHAR will showcase the growing scale and global interest in India’s food and hospitality sectors. This year’s exhibition will feature around 1,800 participants, including about 150 international exhibitors from 17 countries, spread across 125,000 square metres of exhibition space. The event will cover a wide range of segments, including processed foods, bakery and confectionery products, hospitality equipment, storage technologies , and décor solutions. For the first time, AAHAR will also feature a partner country, with Italy chosen for the inaugural edition. “Italy is a global leader in tourism, hospitality and culinary art, and we believe its participation will add great value to the exhibition,” Ashraf said. Union Minister of Commerce and Industry Piyush Goyal will inaugurate the five-day international food and hospitality event on March 10. The event at Bharat Mandapam is expected to attract over one lakh business visitors from across the food processing and hospitality ecosystem. .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!

The severe supply challenges reportedly forced state-run refiner Mangalore Refinery and Petrochemicals Ltd (MRPL) to shut a crude processing unit while moving gas companies to levy further curbs on supplies to industries. The discussions are underway with national oil companies as well as international oil majors and traders for supplying replacement barrels, the official said. View More

NEW DELHI: India is in talks with major global suppliers, including Russia, to compensate for the crude oil shortage caused by the Gulf conflict, a senior oil ministry official said Thursday. The severe supply challenges reportedly forced state-run refiner Mangalore Refinery and Petrochemicals Ltd ( MRPL ) to shut a crude processing unit while moving gas companies to levy further curbs on supplies to industries. The discussions are underway with national oil companies as well as international oil majors and traders for supplying replacement barrels, the official said. However, India hasn't yet curtailed exports of petrol, diesel, or aviation turbine fuel (ATF), which it ships in large volumes, especially to Europe, as such a move would only add to the prevailing global turmoil, the official said. Mangalore Refinery and Petrochemicals is facing a shortage of crude as it has become overwhelmingly dependent on Gulf supplies after stopping imports of Russian oil a few months ago. A company executive described the shuttering of the crude processing unit as routine maintenance. Live Events Given the current situation, it is better to use the time for maintenance, he said. India has lost access to about 60 mmscmd of liquefied natural gas (LNG), accounting for about 60% of national gas imports, following the shutdown of a Qatari LNG plant after an Iranian attack on Monday, the official said. The supply disruption is affecting several industries but hasn't impacted cooking gas availability for households or for compressed natural gas (CNG) vehicles, said people familiar with the matter. State-run GAIL had earlier sent supply curtailment advisories to city gas distribution companies but later withdrew them, possibly after government intervention, a person said. However, many industrial customers of GAIL, Indian Oil , BPCL , Gujarat Gas , and Adani Total Gas have been affected by shortages. Meanwhile, two tankers carrying Russian oil arrived at Gujarat's Vadinar port and Odisha's Paradip port on Thursday, signalling India's efforts at tapping oil from Russia. Oil discharged at Vadinar is used by Rosneft-backed Nayara Energy, while Indian Oil uses crude imported at Paradip. Nayara had continued to import Russian oil, but other refiners had turned cautious following US pressure. India is also in talks with the US on insurance for tankers in the Gulf region, the ministry official said. US President Donald Trump has ordered the US Development Finance Corporation (DFC) to provide, at a reasonable price, political risk insurance and financial guarantees for ships travelling through the Gulf. The absence of insurance due to the war is making it doubly difficult for ships, which already want to avoid the barrage of Iranian missiles in the Gulf. The choking of the Strait of Hormuz and attacks on key energy installations have pushed up oil and gas prices. Benchmark Brent traded around $84 per barrel on Thursday. .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)