(This document comprises news clips from various media in which Balmer Lawrie is mentioned, news
related to GOI and PSEs, and news from the verticals that we do business in. This will be uploaded on
intranet and website every Monday.)
No K-shaped recovery in India, pandemic
'leveler' to reduce inequality: SBI
Economists at the country's largest lender SBI on
Monday dismissed the 'K-shaped recovery'
critique, saying the pandemic was a 'leveler' which
helped in reducing inequalities. They said
government transfers to the poor alone are adding
up to Rs 75,000 per household per annum. It can
be noted that in the months following the outbreak
of the COVID-19 pandemic, concerns were being
raised about deepening inequalities in India, with
some calling it as a 'K-shaped’ recovery, where
rich emerged richer while the poor slipped down
further. After analysing data and studies, the SBI
economists said," in hindsight, the pandemic may
have been a leveller in terms of inequality with the
poor getting protected through measures such as
food transfers." It said India has delivered a sharp
recovery after the pandemic and acknowledged
that critics are still quoting it as a K-shaped
recovery for India. "It is true that the strong rise
in financial assets resulted in an increase in
inequality in 2021.
Business Standard - 10.01.2023
https://www.business-standard.com/article/pti-
stories/no-k-shaped-recovery-in-india-pandemic-
a-leveler-to-reduce-inequality-sbi-economists-
123010900820_1.html
Fiscal deficit in FY24 may be capped at
5.9%, says Goldman Sachs
The central government is likely to further
consolidate its fiscal deficit by 50 basis points
(bps) to 5.9 per cent in FY24 from 6.4 per cent
in FY23, according to a recent report released
by Goldman Sachs on Tuesday. In the current
fiscal year, there is going to be an upside of 0.5
per cent on the receipts side due to higher
nominal GDP growth, and higher tax buoyancy
because of the formalisation, the report said.
The upside to expenditure is mainly going to
come from incremental subsidies (0.8 per cent
of GDP), in both food and fertilizer, it said. The
upcoming pre-election Budget will carry forward
the trend of the increased capital expenditure
seen in recent years. “We expect the
government to continue with capex allocation at
2.9 per cent of GDP in FY24, which would imply
an 11 per cent year-on-year growth compared
to our Revised Estimate for FY23,” the report
notes.
Business Standard - 11.01.2023
https://www.business-
standard.com/article/economy-policy/govt-to-
further-consolidate-fiscal-deficit-to-5-9-in-
fy24-goldman-sachs-123011001092_1.html
Global economy is at risk of recession:
World Bank
The global economy will come "perilously close" to
a recession this year, led by weaker growth in all
the world's top economies the United States,
Europe and China the World Bank warned on
Tuesday. In an annual report, the World Bank,
which lends money to poorer countries for
development projects, said it had slashed its
forecast for global growth this year by nearly half,
to just 1.7%, from its previous projection of 3%.
If that forecast proves accurate, it would be the
third-weakest annual expansion in three decades,
behind only the deep recessions that resulted from
the 2008 global financial crisis and the coronavirus
pandemic in 2020. Though the United States
might avoid a recession this year the World Bank
predicts the US economy will eke outgrowth of
0.5% global weakness will likely pose another
Inflation cools, industrial growth
bounces back
In twin relief for India’s economy, retail inflation
eased more than expected to a 12-month low in
December while industrial growth swung to a
five-month high in November from a contraction
in the preceding month, separate data releases
on Monday showed. The positive data mix raises
the odds that the Reserve Bank of India (RBI)
may pivot its monetary policy from fighting
inflation to supporting growth amid a worsening
global economic outlook. Retail inflation, as
measured by the Consumer Price Index (CPI),
eased to 5. 72% in December from 5. 88% in
the preceding month, within the RBI’s 2-6%
target band, as lower vegetable prices eased
food inflation. The Index of Industrial
Production (IIP) rebounded to 7. 1% growth in
November from a 4. 2% contraction in October.
WEEKLY MEDIA UPDATE
Issue 585
16 January 2023
Monday

headwind for America's businesses and
consumers, on top of high prices and more
expensive borrowing rates. The United States also
remains vulnerable to further supply chain
disruptions if COVID-19 keeps surging or Russia's
war in Ukraine worsens.
Millennium Post - 11.01.2023
https://www.millenniumpost.in/business/global-
economy-is-at-risk-of-recession-world-bank-
504974
The World Bank said on Wednesday that the
global economy is “perilously close to falling into
recession”. Retail inflation is now within the
RBI’s target rate band for the second month
running. But despite the rebound in November,
economists expect the industrial sector to
struggle in the face of higher interest rates and
an adverse global environment.
The Economic Times - 13.01.2023
https://epaper.timesgroup.com/article-
share?article=13_01_2023_001_009_etkc_ET
IMF sees world economy rebounding, yet
still fragile, in 2023
The International Monetary Fund expects that
global economic growth will begin to rebound later
this year and that a worldwide recession can be
averted if China continues to ease its pandemic
restrictions and Russia’s war in Ukraine does not
worsen. Kristalina Georgieva, the managing
director of the IMF, expressed optimism Thursday
that the recent run of downgrades to global growth
could be coming to an end and that an economic
expansion could accelerate next year. Her
comments, made to reporters during a briefing at
the IMF headquarters in Washington, suggested
that the storm clouds hanging over the world
economy could soon dissipate. The IMF, which is
expected to release its new global forecasts later
this month, projected in October that world output
would slow to 2.7% in 2023 from 3.2% in 2022.
“We think we’ve bottomed out,” Georgieva said.
“We are going to see, toward the end of 2023,
hopefully a reversal in trend toward a higher
growth trajectory in 2024.”
The Economic Times - 14.01.2023
https://economictimes.indiatimes.com/small-
biz/trade/exports/insights/imf-sees-world-
economy-rebounding-yet-still-fragile-in-
2023/articleshow/96955742.cms
Narendra Modi gets lowdown on
economy
Prime Minister Narendra Modi on Friday said
both the public and private sectors need to
leverage synergies and think out of the box to
seize opportunities arising as a result of the
emerging global environment. He was
interacting with economists and analysts at the
Niti Aayog ahead of the budget to be presented
on February 1. The meet took place a day after
the NSO reported two strong positives: inflation
tumbled to a 1-year low of 5.72 per cent in
December and IIP growth came in at an
unexpected 7.1 per cent in November. On the
macro front, there are two concerns: core
inflation remains sticky at 5.75 per cent, while
CAD (current account deficit) has widened to
4.4 per cent in Q2. The Centre raised capital
expenditure by 35.4 per cent to Rs 7.5 lakh
crore in Budget 2022. There is pressure on the
government to do so again. During the meeting,
economists offered suggestions on ways in
which India can sustain its development
momentum, it added.
The Telegraph - 14.01.2023
https://www.telegraphindia.com/business/prim
e-minister-narendra-modi-gets-lowdown-on-
economy/cid/1909758
PM tells India Inc to think out of the box
Prime Minister Narendra Modi on Friday called
upon Corporate India to leverage synergies with
the public sector and think out of the box to seize
opportunities arising as a result of the emerging
global environment. While interacting with noted
economists and experts at Niti Aayog ahead of the
FY24 Budget, he also made a pitch for greater
participation of women in the workforce. The
comments come at a time when there are early
signs of a new investment cycle in India, but the
global headwinds are seen slowing the country’s
exports and the GDP growth in the next financial
year. A shift in the global supply chain due to a
slowdown in China holds both opportunities and
short-term challenges for the country. Modi noted
that while there were risks, the emerging global
Budget 2023-24 may unveil road map
for OECD’s Pillar 2
The Union Budget 2023-24 is likely to announce
a roadmap for the implementation of the Pillar
2 solution of the Global Anti Base Erosion Rules
(GloBE) of the OECD and G-20, which seeks to
ensure that multinational corporations are
subjected to a minimum effective tax of 15% in
every country they operate. While a change in
the tax rates through the Finance Bill is unlikely
(India’s corporate tax rate is anywhere higher
than the Pillar 2 threshold), finance minister
Nirmala Sitharaman is expected to initiate work
on Pillar 2 compliance and give some guidance
on how the relevant proposals will be taken
forward in the domestic context. The OECD/G20
inclusive framework is aimed at equipping

environment offered new and diverse
opportunities for the country in areas such as
digitisation, energy, health care and agriculture.
The Financial Express - 14.01.2023
https://www.financialexpress.com/industry/pm-
tells-india-inc-to-think-out-of-the-box/2947802/
governments with domestic and international
instruments to tackle tax avoidance by firms
operating in multiple countries.
The Financial Express - 15.01.2023
https://www.financialexpress.com/budget/bud
get-2023-24-may-unveil-road-map-for-oecds-
pillar-2-2947837/
Govt revises disinvestment estimate by
55.4% to ₹78,000 crore
The government has revised its disinvestment
estimate for the current financial year to ₹78,000
crore, down from ₹1.75 lakh crore envisaged in
the budget estimate (BE) on February 1 last year,
which is a 55.4% reduction, and has set a target
of ₹65,000 crore for 2022-23, according to Union
Budget documents. Speaking to reporters after
presenting the budget, finance minister Nirmala
Sitharaman said that the government would
continue the policy related to public sector
enterprises as envisaged in the previous budget
on February 1, 2021. Union Budget 2021-22,
presented on February 1 last year laid a clear
roadmap for disinvestment in all nonstrategic and
strategic sectors. “We have kept four areas that
are strategic where bare minimum CPSEs [central
public sector enterprises] will be maintained and
rest privatised,” she said in her previous budget
speech. An official aware of the development said
the revised estimate (RE) of the current financial
year has been reduced as the government does
not want to mention the valuation of initial public
offering (IPO) of Life Insurance Corporation (LIC)
at this stage, which is not prudent.
The Hindustan Times - 10.01.2023
https://www.hindustantimes.com/india-
news/govt-revises-disinvestment-estimate-by-
55-4-to-78-000-crore-101643744145040.html
Modi: Global risks offer new openings
for desi businesses
Amid the backdrop of looming dangers, the
rising international surroundings presents new
and numerous openings in digitisation, power,
wellbeing care and agriculture, PM Narendra
Modi mentioned on Friday, and urged the
private and non-private sector to suppose out
of the field and leverage synergies to grab the
chance. Throughout his assembly with
economists forward of the Finances, the PM
applauded the success of the India digital story
and the speedy adoption of fintech, and the
potential for inclusive development and growth
it guarantees. He underscored ‘Nari Shakti’ as a
key driver of India’s development and urged to
proceed making efforts to allow and enhance
ladies’s participation within the workforce. The
assertion is seen to be within the context of the
low feminine labour participation fee within the
nation and authorities are making it a
precedence to lift the share of ladies within the
workforce. Economists have flagged it as a key
concern and the federal government has
additionally taken it up throughout its G20
presidency.
The Times of India - 14.01.2023
https://www.pehalnews.in/modi-global-risks-
offer-new-openings-for-desi-businesses-times-
of-india/2752996/
Biz confidence index back at 2-year high
in Oct-Dec: CII
The latest business confidence index by the
Confederation of Indian Industry (CII) for the
October-December quarter rebounded to its
highest reading in almost two years of 67. 6 from
62. 2 in the previous quarter, reflecting optimism
around India being in a ‘sweet spot’ despite rising
global uncertainties. The sharp improvement in
the value of the index was buttressed by subsiding
of concerns around the impending recession and
its impact on the Indian economy, the
confederation said on Sunday. The index is based
on the findings of a survey of over 120 firms of
varying sizes and across all industry sectors and
regions of the country. However, a majority (70%)
of survey respondents feel that the Indian
economy will expand in a range of 6. 5-7. 5% in
the current financial year ending March, slower
India's fuel demand hits 9-month high
in Dec due to uptick in PV sales
India's fuel demand reached a nine-month high
in December, helped by strong industrial
activity and a rise in gasoline consumption due
to an uptick in passenger vehicle sales.
Consumption of fuel, a proxy for oil demand,
was about 4% higher than the previous month,
and rose 3.1% year-on-year to 19.60 million
tonnes in December, data from Indian oil
ministry's Petroleum Planning and Analysis Cell
(PPAC) showed on Monday. "Demand in India,
the third largest consumer, was growing the
fastest among major economies in 2022," said
UBS analyst Giovanni Staunovo, and that "solid
economic growth should see Indian demand
expanding also at a solid pace this year." India's
manufacturing industry ended 2022 on a solid
footing as business conditions improved at the

than the 8. 7% recording last fiscal. “Growth is
expected to moderate further in the next year on
global headwinds. Hence, to support growth, it is
critical that the RBI refrains from raising interest
rates any further,” CII stated.
The Times of India - 16.01.2023
https://epaper.timesgroup.com/article-
share?article=16_01_2023_013_015_toikc_TOI
fastest rate in over two years while growth in
new orders and output accelerated, a business
survey showed.
Business Standard - 11.01.2023
https://www.business-
standard.com/article/economy-policy/india-s-
fuel-demand-hits-9-month-high-in-dec-due-to-
uptick-in-pv-sales-123010901155_1.html
India's ethanol capacity to jump 25% to
1,250 crore litres by year-end:
Government official
The government on Friday said the overall ethanol
production capacity in India is expected to go up
by 25 per cent to 1,250 crore litres by the end of
this year, as proactive steps have been taken for
faster clearance of projects. A single-window
clearance has been put in place wherein ethanol
projects seeking interest subvention and
environment clearances are given faster
clearance. "As on today, more than Rs 20,000
crore worth loans have been sanctioned by the
banks for ethanol projects, out of which Rs 10,000
crore has already been disbursed under the
interest subvention scheme," said Sangeet Singla,
Director of Sugar and Vegetable Oils under the
aegis of the Union Food Ministry. Around 225
projects have been benefited so far, he said,
speaking at a conference on "Fuels for future'
organised by industry body Assocham here. India
has doubled ethanol blending with petrol to 10 per
cent in the last two years. Ethanol blending will
reach 12 per cent this year and meet the target of
25 per cent by 2025, he added.
Outlook India - 14.01.2023
https://www.outlookindia.com/business/india-s-
ethanol-capacity-to-jump-25-to-1-250-crore-
litres-by-year-end-government-official-news-
253348
Policy on Ethanol pumps in the works,
says Gadkari
The Centre is working on a policy for setting up
ethanol pumps in the country to speed up the
adoption of clean energy and wean away the
nation from polluting fossil fuels. Speaking at a
Bio-Energy Summit organised by the
Confederation of Indian Industry (CII), minister
of road transport and highways Nitin Gadkari
said he will be meeting the petroleum minister
in 15 days to make a policy for setting up
ethanol pumps in the country. “The potential of
ethanol is huge and there is a demand from
Bangladesh for it as well,” he said. Gadkari said
there is a requirement of 10 billion litre of
ethanol if we blend it with petrol by up to 20%.
“Now Bajaj, Hero, and TVS have motorcycles
ready that can run on 100% bioethanol. We can
also have auto rickshaws that run on it,” he
said. India has been pushing for replacing fossil
fuel-run vehicles with alternate fuels in a bid to
cut import dependence and boost local
manufacturing. According to Gadkari, the
country’s Rs 16 lakh crore fuel import bill is a
challenge that needs to be addressed.
The Economic Times - 13.01.2023
https://epaper.timesgroup.com/article-
share?article=13_01_2023_009_015_etkc_ET
$58 bn investment in E&P; Chevron,
Exxon, Total keen on India: Hardeep Puri
India will likely see an investment of USD 58 billion
in finding and producing oil and gas resources by
2023, Oil Minister Hardeep Singh Puri said on
Friday, adding global energy majors Chevron
Corp, ExxonMobil and TotalEnergies are keen to
invest. India, the world's third biggest oil-
consuming and importing nation, is looking to
raise domestic output to help cut down reliance on
costly imports. India imports 85 per cent of its
crude oil, which is converted into petrol and diesel,
and roughly half of its natural gas is converted to
CNG and used in industries. Speaking at the Voice
of Global South Summit, Puri said the government
has targeted to increase the geographical area
under exploration and production to 0.5 million
square kilometres or 15 per cent by 2025 from the
Russian oil imports top 1-m barrels a
day in Dec
India's import of crude oil from Russia increased
further in December 2022, topping 1 million
barrels per day for the first time ever as Moscow
remained its top oil supper for the third month
in a row, according to data from energy cargo
tracker Vortexa. Russia, which made up for just
0. 2 per cent of all crude oil India imported in
the year to March 31, 2022, supplied 1. 19
million bpd in December. This was higher than
909,403 bpd crude oil India imported from
Russia in November and 935,556 bpd in
October 2022. The previous record for most
crude oil imports from Russia was in June 2022
when India bought 942,694 bpd, according to
Vortexa. Russia, which in October 2022 for the
first time surpassed traditional sellers Iraq and

current 0.25 million sq km. "We are expecting an
investment of around USD 58 billion in exploration
and production (of oil and gas) by 2023," he said.
"Several multinational corporations like Chevron,
ExxonMobil and TotalEnergies are showing keen
interest to invest in Indian E&P sector."
Business Standard - 14.01.2023
https://www.business-
standard.com/article/companies/chevron-exxon-
totalenergies-keen-to-invest-in-india-hardeep-
singh-puri-123011300649_1.html
Saudi Arabia to take the No. 1 spot, now makes
up for 25 per cent of all oil imported by India.
The imports peaked as a price cap was agreed
upon by the EU on Russian seaborne oil.
Russian oil is available at much lower than USD
60 per barrel cap agreed, industry sources said.
India is the world's third-largest oil-consuming
and importing nation. It imports 85 per cent of
its crude oil needs. Crude oil is converted into
fuels like petrol and diesel at refineries.
The Economic Times - 16.01.2023
https://epaper.timesgroup.com/article-
share?article=16_01_2023_007_002_etkc_ET
Petroleum & natural gas sector to drive
growth of green hydrogen in India:
Hardeep Puri
Union minister Hardeep Singh Puri on Thursday
said the petroleum and natural gas sector will
drive the growth of green hydrogen in the country
as industry players will produce and consume the
clean energy source for multiple purposes. The
Minister of Petroleum and Natural Gas also said
that oil marketing companies (OMCs) have been
directed to prepare a plan in the field of green
hydrogen, which he said will be submitted to the
Prime Minister's Office very soon. The minister
made the remarks while addressing reporters on
the sidelines of '11th CII Bio-Energy Summit' in
the national capital. "I have always a staunch
believer that the success of green hydrogen will
come from the petroleum and natural gas (PNG)
sector for a variety of reasons (like) you have
refineries which will produce and consume green
hydrogen for a variety of PNG functions," he said.
On January 4, the Union Cabinet approved the
National Green Hydrogen Mission with an outlay of
Rs 19,744 crore to make India a global hub for the
manufacturing of this clean source of energy.
The Economic Times - 14.01.2023
https://energy.economictimes.indiatimes.com/ne
ws/renewable/petroleum-natural-gas-sector-to-
drive-growth-of-green-hydrogen-in-india-
hardeep-puri/96953428
Puri asks automakers to start
introducing green vehicles in market
Union Minister Hardeep Singh Puri on Friday
asked automobile manufacturers to move from
the prototype stage and start introducing green
vehicles in the market, saying the time has
come for biofuels and other clean energy
technologies. In his address at a symposium
here at the Auto Expo 2023, the Minister of
Petroleum and Natural Gas said India has also
advanced the 20 per cent ethanol blending
target to 2024-25 from 2030 and as a pilot E20
will be available in many pumps soon, ahead of
the earlier schedule of April this year. The
minister earlier inaugurated the 'Ethanol
Pavilion' at the expo where passenger vehicle
makers -- such as Maruti Suzuki and Toyota
Kirloskar Motor along with two-wheeler majors
TVS, Hero MotoCorp, Bajaj Auto, Honda
Motorcycle, Yamaha and Suzuki motorcycle --
are displaying their working prototype of flex-
fuel vehicles. These vehicles can take a range of
ethanol blends varying from 20-85 per cent. "I
want to congratulate you, and I'm delighted,
because biofuels, and all the other clean energy,
the time has come," he said.
Business Standard - 14.01.2023
https://www.business-
standard.com/article/economy-policy/puri-
asks-automakers-to-start-introducing-green-
vehicles-in-market-123011300665_1.html
Fitch sees risks to India's target of
raising natural gas' energy share
Price volatility and infrastructure constraints will
challenge India's target of increasing the share of
natural gas in its primary energy to 15 per cent by
2030 from 6 per cent in 2017, Fitch Ratings said
in a new report Tuesday. "Progress on the target
has been minimal - 6 per cent share in 2021 - as
natural gas growth has not managed to outpace
total energy growth," it said. This is despite
resilient demand from city gas distribution (CGD)
networks and rising domestic production. Prime
India emerging as front-runner in fight
against climate change: Hardeep Singh
Puri
India is emerging as a front runner in the global
fight against climate change, Union Petroleum
minister Hardeep Singh Puri said on Thursday,
noting that the country is progressing fast on its
energy transition agenda. Speaking at Auto
Expo-2023, the minister said for automobile
industry, the event will be an exposition of the
country’s technology, capability, and vision of
the mobility for tomorrow - safer, cleaner,

Minister Narendra Modi had in 2017 set a target of
raising the share of natural gas in the primary
energy consumption basket with a view to cutting
down emissions. However, the demand for the fuel
is rising at a slower rate, with current growth rates
only around 53 per cent of levels required for the
country to meet a 15 per cent gas use target.
Business Standard - 11.01.2023
https://www.business-
standard.com/article/economy-policy/fitch-sees-
risks-to-india-s-target-of-raising-natural-gas-
energy-share-123011001037_1.html
connected and shared. For the visitors, it will be
an experience of the mobility eco-system that is
unfolding every day and offering better
solutions for all our requirements. “It will also
provide a platform for domestic & international
investors and other stakeholders," he said.
Talking about the progress made by India in
terms of ethanol blending, the minister said that
we have increased the ethanol blending in
petrol from 1.53% in 2013-14 to 10.17% in
2022, which was well ahead of November 2022
deadline and advanced its target to achieve
20% ethanol blending in petrol from 2030 to
2025-26.
Mint - 14.01.2023
https://www.livemint.com/industry/energy/ind
ia-emerging-as-front-runner-in-fight-against-
climate-change-hardeep-singh-puri-
11673597831254.html
India will contribute 25% of global
demand in Natural Gas by 2040: Hardeep
Singh Puri
New Delhi: India has been able to navigate
through the most formidable energy crisis the
world has seen since the 1973 oil crisis thanks to
its four-pronged energy security strategy:
Diversification of energy supplies; Increasing
India's Exploration & Production footprint; Meeting
energy transition through Gas-based economy,
Green Hydrogen and EVs; and Meeting energy
transition through Gas-based economy, Green
Hydrogen and EVs. India increased the number of
its crude oil suppliers from 27 countries in 2006-
07 to 39 in 2021-22, adding new suppliers like
Columbia, Russia, Libya, Gabon, Equatorial Guinea
etc., while strengthening our relationship with
countries like US and Russia, said Shri Hardeep
Singh Puri, Minister of Petroleum and Natural gas.
Diesel prices, which in India between December
2021 and December 2022 rose by only 3%, went
up by 34% in the USA, 36% in Canada, 25% in
Spain and 10% in the UK.
PSU Connect - 11.01.2023
https://www.psuconnect.in/news/india-will-
contribute-25-percent-of-global-demand-by-
2040/35879
India eyes ₹35kcr investments by
2047 to create waterways network
India is eyeing an investment of ₹35,000 crore
by 2047 to create a network of waterways in the
country, Sanjay Bandopadhyaya, chairman of
the Inland Waterways Authority of India (IWAI),
told ET. The plan to be implemented over the
next 25 years will include developing waterways
and jetties to improve the navigable capacity of
Indian rivers. Bandopadhyay said the world's
longest river cruise, which will be inaugurated
by Prime Minister Narendra Modi on Friday,
covers two national waterways (NWs) and goes
through Bangladesh. “This cruise will cover a
distance of more than 3,200 km across NW1
(Ganga-Bhagirathi-Hooghly), Indo-Bangladesh
Protocol (IBP) Route 1 and NW2 (Brahmaputra).
This reinforces the resolve that this route is
ready for movement of cargo and passenger
services,” Bandopadhyay said. It is the first
river cruise to connect Uttar Pradesh, Bihar,
Jharkhand, West Bengal and Assam. It begins
from Varanasi (UP) and concludes in Dibrugarh
(Assam).
The Economic Times - 13.01.2023
https://epaper.timesgroup.com/article-
share?article=13_01_2023_009_005_etkc_ET
Allcargo Logistics picks 75% stake in
European rival
Allcargo logistics, the largest integrated player in
the private sector, has picked up a 75 per cent
stake in the European rival Fair Trade for 12
million euros, valuing the German company at 16
million euros. The city-based company in a
statement said the acquisition is being carried out
through its European subsidiary Allcargo Belgium,
which is operating as ECU Worldwide. The existing
Shri Jitendra Malik took over as
Director (Technical) of NCL, Singrauli
Shri Jitendra Malik has taken over as Director
(Technical), at Northern Coalfields Limited,
Singrauli. He assumed his charge of the post on
Tuesday. Prior to joining the NCL, Shri Malik was
serving as General Manager in BCCL, another
Subsidiary of Coal India Limited. He was
selected by the Department of Public
Enterprises for the post of Director (Technical)

owner will retain the balance 25 per cent stake in
the company, it added without offering a value of
the deal, which has been approved by the
Bundeskartellamt, the German competition
authority. However, a company source told PTI
that Allcargo has paid 12 million euros for the
controlling stake, valuing the German firm at 16
million euros. The acquisition, pending regulatory
approvals, will expand and strengthen the service
network of ECU Worldwide in Europe in general
and the largest EU economy Germany in
particular.
Moneycontrol - 13.01.2023
https://www.moneycontrol.com/news/business/a
llcargo-logistics-acquires-75-stake-in-european-
rival-fair-trade-for-12-million-euros-
9857491.html
on 6th September 2022. Shri Malik, a Mining
Engineer from IIT (ISM), Dhanbad, graduated
in the Year 1987 and secured a First Class Mine
Manager’s Certificate of Competency in 1992.
He also holds an MBA (HRM) from Sikkim
Manipal University.
PSU Connect - 11.01.2023
https://www.psuconnect.in/news/shri-jitendra-
malik-took-over-as-director-technical-of-
ncl/35744/
R K Jain takes over as chairman of IGL
akesh Kumar Jain has taken over as the chairman
of Indraprastha Gas Ltd, the firm that retails CNG
to automobiles and piped natural gas to household
kitchens in the national capital region and
neighbouring towns. Jain, who is Director
(Finance) at state gas utility GAIL (India) Ltd, took
over as the company chairman on January 14, IGL
said in a regulatory filing. IGL is a joint venture of
GAIL and Bharat Petroleum Corporation Ltd
(BPCL), and they hold 22.5 per cent stake each.
The two firms appoint directors on the board and
rotate chairmanship among themselves. Jain
replaces Sukhmal Kumar Jain, Director
(Marketing) of BPCL, who was chairman of IGL
from October 23, 2022. Sukhmal Kumar Jain will
continue to be director of IGL, the filing said.
''Rakesh Kumar Jain, nominee of GAIL is Director
(Finance) of GAIL. He is a Cost and Management
Accountant by profession,'' the filing said.
Dev Discourse - 16.01.2023
https://www.devdiscourse.com/article/headlines/
2319938-r-k-jain-takes-over-as-chairman-of-igl
Shri Anurag Kumar assumed the
charge of CMD ECIL
Shri Anurag Kumar has assumed the charge of
the post of Chairman & Managing Director of
ECIL today. He shall be carrying forward the
legacy left by many former C&MDs including Dr
A S Rao, the founding Chairman of ECIL. Shri
Kumar has a very rich wealth of experience will
help negotiate the company in these difficult
times. The skills and knowledge that he has
acquired during his career spanning 3 decades
will certainly help the corporation at this critical
juncture. Shri Kumar joined ECIL in the year
2015 as General Manager and was promoted as
Executive Director – Homeland Security System
in the year 2020. Prior to his Joining. ECIL Shri
Anurag Kumar worked in Bharat Electronics Ltd
and Reliance Industries Ltd.
PSU Connect - 14.01.2023
https://www.psuconnect.in/news/shri-anurag-
kumar-assumed-the-charge-of-cmd-ecil/35949
Prasanna Kumar Mottupalli Assumes
Office as CMD of NLC India Ltd.
Prasanna Kumar Motupalli assumed charge as
Chairman and Managing Director of NLC India Ltd
today. Prior to taking up the baton, he was the MD
of Gujarat State Electricity Corporation Ltd
(GSECL). Prasanna Kumar, a gold medallist in
Mechanical Engineering from Bapatla College of
Engineering, Andhra Pradesh, has a rich
experience of more than 3 decades in power
sector. He holds MBA in four specialization,
Operations Management, Marketing management
Financial Management and Human resource
Management and is a Fellow of The Institution of
Engineers (India). He is a topper of Energy Auditor
Examination of Bureau of Energy Efficiency, GOI
Shri Debasis Acharyya takes over as
Director (Personnel) of SECL
Shri Debasis Acharyya has taken over as
Director (Personnel) of South Eastern Coalfields
Limited (SECL). He was working as Head of
Department (Executive Establishment) at
Eastern Coalfields Limited (ECL) before taking
over as Director (Personnel), SECL. Shri
Acharyya brings with him 32 years of rich
experience in the field of Personnel and
Industrial Relations management.
PSU Connect - 16.01.2023
https://www.psuconnect.in/news/shri-debasis-
acharyya-takes-over-as-director-personnel-of-
secl/35953

and is also a Certified Level-D exam holder of
International Project Management Association
(IPMA). In addition to his rich profile of education
he has to his credit more than 50 technical and
manager paper in renowned National and
International conferences and journals winning
him laurels and appreciation.
Sarkaritel.com - 13.01.2023
https://www.sarkaritel.com/prasanna-kumar-
mottupalli-assumes-office-as-cmd-of-nlc-india-
ltd/