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The ?company, which began operations in India earlier this year, ?will first build an inverter manufacturing plant that is ?expected to be operational by the second quarter of 2027 View More

Goa's government has announced a 7% value-added tax on aviation turbine fuel, starting in October 2026. IndiGo has expressed support for this decision, encouraging other states to implement similar strategies. The airline believes this change will enhance air connectivity and support Goa's tourism industry. The notification alters the existing VAT rate under the Goa Value Added Tax Act of 2005. View More

The Goa government has set a 7% value-added tax (VAT) rate on aviation turbine fuel (ATF), with the revised rate taking effect from October 24, 2026. The state had last set VAT on this category of ATF at 15% in March 2024, before cutting it to 7% in the latest notification. IndiGo has welcomed the decision, urging other states to consider similar measures as aviation fuel costs remain high. The airline said rationalising VAT on ATF would strengthen air connectivity, support Goa’s tourism sector and help make air travel more accessible. In a post on X, IndiGo thanked Chief Minister Pramod Sawant for the decision, describing it as a progressive step towards strengthening the aviation ecosystem. The airline also expressed hope that other states would follow suit. The notification, issued by Goa’s Department of Finance (Revenue and Control) on October 23, amends Schedule C of the Goa Value Added Tax Act, 2005. It prescribes a 7% VAT rate for “Aviation Turbine Fuel other than covered by entry (1) above”, replacing the existing entry at serial number two. Live Events — IndiGo6E (@IndiGo6E) The revised provision retains a distinction between this category of ATF and fuel covered under the preceding entry. IndiGo said similar measures by other states could help improve the accessibility of air travel at a time when ATF costs remain elevated. The airline did not announce any corresponding change in airfares. .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;width: 100%;box-sizing: border-box} .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)

Adani Power CEO Khyalia said that the company remained focused on delivering reliable, high-quality electricity on schedule to meet India’s rising baseload requirements. India’s growing appetite for electricity is strengthening the case for thermal power, he added. View More

Adani Power is making progress with plans to add 23,720 MW of thermal power capacity amid rising electricity demand in India, CEO SB Khyalia said on October 23 as the company announced its Q2 earnings. CEO Khyalia said that the company remained focused on delivering reliable, high-quality electricity on schedule to meet India’s rising baseload requirements. India’s growing appetite for electricity is strengthening the case for thermal power, he added. Geopolitical developments and climate-related uncertainties have reinforced the importance of domestic coal-based generation in securing the country’s long-term electricity supply, Khyalia said. Thermal capacity expansion gathers pace Adani Power is pursuing a programme to add 23,720 MW of new thermal power capacity. Two projects nearing completion are the 1,320 MW Korba Phase-II supercritical thermal power project and the 1,600 MW Mahan Phase-II ultra-supercritical thermal power project. Also read | Adani Energy's 'smart' bet comes with a Rs 29,519 crore revenue potential Live Events At Korba Phase-II, the first 660 MW unit has been synchronised with the grid and is expected to be commissioned shortly. The second unit is scheduled to enter service in the fourth quarter of FY27. Mahan Phase-II is expected to be fully commissioned in the early part of FY28. Work is also progressing on the 1,600 MW Raipur Phase-II and 1,600 MW Raigarh Phase-II ultra-supercritical projects. Both have crossed 65% completion in less than 30 months since construction began, with commissioning scheduled for FY29. Coal-based generation gains share The expansion comes as electricity consumption rises across the country. India’s power demand increased 11.5% YoY to 502 BU in Q2 FY27, while generation advanced 11% to 536 BU. Rapid economic growth and a weak monsoon contributed to the increase in demand. Reduced hydropower generation potential, alongside higher electricity consumption, lifted coal- and lignite-based power’s share of total supply to 66% in the quarter, from 65% in Q2 FY26. These sources accounted for 73% of the additional electricity generated during the period. Also read | KEC International bags new orders worth over Rs 1,000 cr The aggregate plant load factor (PLF) of India’s coal-based power plants rose to 68% in Q2 FY27, compared with 62% in the corresponding quarter a year earlier, indicating higher utilisation of existing capacity. Big profit jump in Q2 In Q2, with Adani Power saw a sharp rise in quarterly earnings as demand climbed and its capacity expansion gathered pace. It reported a 134% year-on-year rise in consolidated net profit to Rs 6,919 crore for the second quarter of FY27, while revenue from operations increased 45% to Rs 19,439 crore. Adani Power on Friday reported a 134% year-on-year (YoY) increase in consolidated net profit to Rs 6,919 crore for the second quarter of FY27, compared with Rs 2,953 crore in the corresponding period last year. Revenue from operations grew 45% to Rs 19,439 crore from Rs 13,457 crore a year earlier, according to the company’s regulatory filing. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 60% to Rs 8,231 crore against Rs 5,150 crore in the year-ago quarter. The company’s consolidated power sales volume increased 11.5% YoY to 26.4 billion units (BU) in Q2 FY27, up from 23.7 BU in Q2 FY26, supported by stronger electricity demand. Adani Power also reported an improvement in its EBITDA margin to 42.3% from 38% in the year-ago period. The company’s reported figures described this as a 400% increase. .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;width: 100%;box-sizing: border-box} .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 company also plans to set up a research and development centre focused on battery energy storage systems in ?India View More

Bharat Coal Gasification and Chemicals Ltd has begun construction for a significant coal gasification project in Odisha. The project involves an investment of Rs 25,000 crore, aimed at producing technical grade ammonium nitrate. Most tenders have been awarded, with Rs 15,000 crore worth of contracts already distributed. Major work is divided between BHEL and Larsen & Toubro for specific project packages. View More

New Delhi: Bharat Coal Gasification and Chemicals Ltd (BCGCL), the joint venture of Coal India Ltd (CIL) and BHEL , has started ground construction activities for its Rs 25,000 crore coal gasification project in Odisha, with most of the tenders awarded, its Managing Director Peeyush Kumar said on Thursday. The development assumes significance in the wake of the country's push to build 100 million tonne of coal gasification capacity by 2030 under the National Coal Gasification Mission , aimed at converting coal into chemicals and bringing down the import dependence on products such as LNG, urea, ammonia and methanol. "We are going ahead with the joint venture of BHEL and Coal India, which is BCGCL....I am happy to share that we have started ground construction activities... Most of the tenders have been awarded and construction has started," Kumar said during the 17th Edition of Gasification India 2026 organised by Mission Energy Foundation. Also read: India turns back to Gulf oil as Russian crude loses its price edge BCGCL-a joint venture in which CIL holds the majority 51 per cent stake and Bharat Heavy Electricals Ltd (BHEL) the remaining 49 per cent-has been established to develop a state-of-the-art coal-to-ammonium nitrate project. Live Events Kumar said that the contracts worth about Rs 15,000 crore have already been awarded, while tenders for the remaining works are yet to be awarded. The balance of the project cost comprises soft costs, including interest, depreciation and land-related expenses. "Out of Rs 25,000 crore, Rs 15,000 crore of work has already been awarded. Of this, Rs 10,000 crore has gone to BHEL and Rs 5,000 crore to L&T," he said. The project is aimed at producing approximately 0.66 million tonnes per annum of technical grade ammonium nitrate through coal gasification and represents one of the country's pioneering commercial-scale initiatives utilising domestically developed pressurised fluidised bed gasification technology for chemical production. Also read: Indian Oil to trim Middle East oil imports under annual deals amid Iran war He further said that the work has been divided into four major packages. BHEL is executing the coal gasification and syngas purification packages, while Larsen & Toubro (L&T) is handling the ammonia synthesis and ammonium nitrate production packages. "After purification, the gas will be converted into ammonia, and ammonia will be converted into nitric acid and ammonium nitrate. The ammonia and ammonium nitrate packages are under L&T's scope," Kumar said. The project is being implemented in Odisha and has received single-window clearance from the high-level clearance authority of the state government. .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;width: 100%;box-sizing: border-box} .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)

Coal supply to Indian power plants is being increased, with a record 2.6 million tons delivered daily. The number of plants with critically low coal stocks has risen recently, impacting power generation. As hydropower usage declines due to El Nino effects, coal-fired plants face increased pressure. Gujarat has received additional power allocation to manage rising electricity demand effectively. Authorities have requested factories to limit electricity use to prevent potential shortages. View More

New Delhi: Coal supply to Indian power plants is expected to normalise soon, a senior power ministry official said on Thursday, adding that the country is supplying a record 2.6 million tons of coal to power plants every day. The comments come as the number of power plants with critically low coal stocks - enough fuel to generate power for less than three days - ​rose to 96 as of October 19 from 60 in mid-September, according to data from the Central Electricity Authority India increased coal supply to plants, including top power generator NTPC , after scattered rains in mining areas disrupted deliveries Reduced hydropower use is adding pressure on coal-fired plants as the El Nino weather pattern has affected rainfall, the official said. Daily peak electricity demand has risen by about 45 to 50 gigawatts from a year earlier, driven by hotter weather and higher industrial production. The federal power ministry has allocated additional power to Gujarat, India's top industrial state, and there is no power or coal shortage in the state, the official said. Live Events Reuters reported on Wednesday that Gujarat has asked factories to curb electricity use during evening hours to avoid power shortages due to surging demand. Gujarat state authorities declined to comment on the report. .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;width: 100%;box-sizing: border-box} .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)

Benchmark indices traded lower for the third consecutive session on Thursday, as selling across sectors amid elevated crude oil prices and concerns over corporate earnings weighed on sentiment. View More

The government plans to add 5 GW of dual-use agrisolar capacity over three years, targeting a 25% cost-neutralization subsidy to boost farm incomes and ease land constraints. View More

KENT RO's new energy division has an annual capacity of 3.5 GWh at its Noida plant, with plans to expand to 10 GWh in six months as it enters the energy storage market View More

OpenAI will now have its models on all three of the top clouds, giving corporate developers more choice. View More

In this articleGOOGLFollow your favorite stocksCREATE FREE ACCOUNT OpenAI CEO Sam Altman delivers a keynote speech during OpenAI's annual DevDay event in San Francisco, California, US, September 29, 2026.Carlos Barria | ReutersOpenAI will make its artificial intelligence models available for developers through Google's cloud, following years of competition between the two companies.For OpenAI, the effort reflects a growing push to expand distribution of its technology to enterprise developers. That's critical as the ChatGPT creator looks to build its business beyond its consumer roots, and the move puts OpenAI's models on all three of the top cloud infrastructure providers. Less than six months ago, OpenAI said Microsoft would no longer have the exclusive license on its intellectual property. The day after that ended, cloud leader Amazon unveiled plans to host OpenAI models. Now Google is getting its shot, bringing OpenAI's GPT products to its cloud's model garden and Antigravity coding tool in the coming weeks. "Google Cloud's longstanding investment in machine learning and AI has made it a destination for AI workloads and the developers and data scientists building them," OpenAI said in a blog post.Google has been on a run in cloud computing this year. Annualized revenue growth in the segment accelerated to about 82% in the second quarter from 63% in the first quarter, thanks partly to strong demand for AI models and custom chips. Amazon and Microsoft posted second-quarter cloud growth of 37% and 42%, respectively. All three report quarterly results next week. Most business spending on AI is on OpenAI and Anthropic, according to data from corporate card issuer Ramp, though some corporate IT departments have integrated Google's Gemini models into their systems. In September, Google announced its next-generation Gemini 4 Argon model.OpenAI was founded in 2015 partly as a counterweight to the concentration of AI research at companies like Google. Two years later, Google employees submitted the influential Transformer academic paper that propelled AI, but it was OpenAI that helped bring the technology forward with ChatGPT. Now OpenAI is courting investors at a $1.4 trillion valuation and targeting an initial public offering. Google and OpenAI previously partnered last year, when the AI lab said it was using Google's cloud to run ChatGPT and its application programming interface.WATCH: Google broadens access to Gemini 4 Argon in bid to regain AI momentumwatch nowVIDEO1:4601:46Google broadens access to Gemini 4 Argon in bid to regain AI momentumHalftime Report Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.