Modi govt’s this policy change offers big boost for Ambani, Adani, Mittal

Agencies
February 2, 2022

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New Delhi, Feb 2: Government of India’s plans to classify data centres and energy storage as infrastructure assets allowing firms to access cheap and long-term credit, in a big boost for billionaires Gautam Adani, Sunil Mittal and Mukesh Ambani’s plans to aggressively grow in these segments.

“Data centres and energy storage systems including dense charging infrastructure and grid-scale battery systems will be included in the harmonized list of infrastructure,” Finance Minister Nirmala Sitharaman said Tuesday as part of the Budget speech in Parliament. “This will facilitate credit availability for digital infrastructure and clean energy storage.” 

The policy tweak, effective from April 1, comes as Asia’s no. 3 economy seeks to keep its data within its borders as well as stoke a massive boom in online payments, e-commerce and quantum computing. Roll out of ultra-speedy 5G telecom services will further increase demand for data centre services, spurring conglomerates helmed by Adani and Mittal to rapidly scale up. Ambani’s Reliance Industries Ltd., which is developing gigafactories including one for energy storage as part of a $76 billion investment plan, is also likely to benefit from this reclassification.

The infrastructure tag “is expected to provide access to cheaper and long-term institutional funds, which will promote investments,” Radha Dhir, chief executive officer and India head at real estate consultancy JLL, said in an email. She expects India’s data centre capacity to double from 499 megawatts in the first half of 2021 to 1,008 megawatts next year.

Adani, Asia’s second-richest person, said in November that he wants his conglomerate to be a world leader in green data storage, with sites run entirely on clean power, in sync with India’s goal of turning carbon net zero by 2070. The Adani Group plans to initially build data centres in Mumbai, Chennai, Hyderabad and in and around New Delhi. 

Bharti Airtel Ltd., the country’s No. 2 wireless carrier overseen by Mittal, announced plans in September to invest Rs 5,000 crore to triple its data centre capacity to 400 megawatts by 2025. Reliance’s digital unit has also been looking to build a data centre, according to a local media report.

Representatives for Adani Group, Reliance and Bharti Airtel did not immediately respond to an emailed request for comments on the policy change announced in the Budget.

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News Network
September 20,2024

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Mandya: The Deputy Superintendent of Police of Nagamangala town in Mandya district has been suspended for "negligence and dereliction of duty" in connection with the clashes that broke out between two groups during a Lord Ganesh idol procession, police said on Friday.

This is the second suspension of a police officer over the clashes on September 11 following which mobs went on a rampage targeting several shops and vehicles leading to tension here.

The situation in the town has since returned to normalcy and most of the shops have started operating. However, adequate security forces continued to be stationed here as a precautionary measure, according to police.

Sumeeth A R, DySP (Nagamangala), was suspended on Thursday for negligence and dereliction of duty, Mandya Superintendent of Police Mallikarjun Baldandi told PTI.

"He (Sumeeth) was not present at the spot nor was he at the police headquarters when the incident occurred. He arrived late at the spot despite the sensitive nature of events," he said.

Earlier, Police Inspector Ashok Kumar posted at Nagamangala town police station was suspended for dereliction of duty in connection with the violence.

A total of 55 people have been arrested in connection with the incident.

According to police, an argument broke out between two groups, when the Ganesh idol procession by devotees from Badarikoppalu village reached a place of worship on September 11, and some miscreants hurled stones, which escalated the situation.

The police had used mild force to disperse the crowd to control the situation.

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News Network
September 19,2024

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Narendra Modi-led government of India has abstained in the UN General Assembly on a resolution that demanded that Israel bring an end, “without delay”, to its unlawful presence in the Occupied Palestinian Territory within 12 months.

The 193-member General Assembly adopted the resolution, with 124 nations voting in favour, 14 against and 43 abstentions, including that by India.

Those abstaining included Australia, Canada, Germany, Italy, Nepal, Ukraine and the United Kingdom.

Israel and the US were among the nations who voted against the resolution titled ‘Advisory opinion of the International Court of Justice on the legal consequences arising from Israel’s policies and practices in the Occupied Palestinian Territory, including East Jerusalem, and from the illegality of Israel’s continued presence in the Occupied Palestinian Territory’.

The resolution adopted Wednesday demanded that “Israel brings to an end without delay its unlawful presence in the Occupied Palestinian Territory, which constitutes a wrongful act of a continuing character entailing its international responsibility, and do so no later than 12 months from the adoption of the present resolution.” 

The Palestinian-drafted resolution also strongly deplored the continued and total disregard and breaches by the Government of Israel of its obligations under the Charter of the United Nations, international law and the relevant United Nations resolutions, and stressed that such breaches seriously threaten regional and international peace and security.

It recognised that Israel must be held to account for any violations of international law in the Occupied Palestinian Territory, including any violations of international humanitarian law and international human rights law, and that it “must bear the legal consequences of all its internationally wrongful acts, including by making reparation for the injury, including any damage, caused by such acts.”

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News Network
September 14,2024

Bengaluru: Karnataka Home Minister G Parameshwara on Saturday said the situation in violence-hit Nagamangala town in Mandya district is peaceful now, and steps have been taken to ensure that no untoward incidents take place.

Clashes had broken out between two groups during the Ganesh idol procession in the town, following which mobs went on a rampage with stone pelting and targeting several shops and vehicles leading to tension on Wednesday night.

"Situation in Nagamangala is now peaceful and there is no problem there. I have also instructed officials to hold a peace meeting there. We have instructed officers to ensure that no untoward incidents take place, enough police force is also stationed there," Parameshwara told reporters here.

About 55 people have been arrested in connection with the incident and they have been sent to judicial custody, according to police sources.

Responding to a question on opposition parties including JD(S) leader H D Kumaraswamy raising doubts about the FIR, he said, "The police will do what has to be done in accordance with law..."

Asked about BJP sending a fact finding team to Nagamangala, the Home Minister said, "Let them find the facts and inform us, and if there is any fact from their fact finding, we will look into it. It will make our work a bit easier." The BJP panel consisting of MLA C N Ashwath Narayan, former Minister Byrathi Basavaraj, former Minister K C Narayana Gowda, state secretary Lakshmi Ashwin Gowda, and former IPS officer Bhaskar Rao, will visit the spot and submit a comprehensive report to the party in a week.

According to police, an argument had broken out between two groups, when the Ganesh idol procession by devotees from Badri Koppalu village reached a place of worship on Wednesday, and some miscreants hurled stones, which escalated the situation.

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