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Adani’s Sri Lanka journey continues with port, cement projects

“The recent exit of Adani from the RE project will not impact investors confidence in the island nation, as the new government had already factored in such an incident, when it took the policy decision,” Aruna Kulatunga, President of the EOI Renewable Energy Project Promoters Association, Sri Lanka, said. The association is a point of […]

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Adani’s Sri Lanka journey continues with port, cement projects

“The recent exit of Adani from the RE project will not impact investors confidence in the island nation, as the new government had already factored in such an incident, when it took the policy decision,” Aruna Kulatunga, President of the EOI Renewable Energy Project Promoters Association, Sri Lanka, said. The association is a point of contact between the Sri Lankan government and investors. “Since the new government came to power in Sri Lanka, the likelihood of Adani exiting the project was factored in when taking stock of the investment strategy, as the tariff remained a contentious issue,” he told businessline, adding that “now that the government here has informed the court, chances of reviving the talks have narrowed down.”Though there is no official communication yet, two projects – NTPC’s green energy project and Adani’s port project – are being considered at the bureaucratic level for the PM to inaugurate during his visit.comment

Also read: Adani Group eyes $500-700 m cables & wires segment foray

 

However, a cent down is also negotiable, according to investors here, he said, adding that some also see it as a face-saving move for the government. Any climb down from what Adani was offering — a tariff of 8 cents a unit — can be a face-saving measure for the government, he said..Meanwhile, on the electricity policy front, Sri Lanka has been seeking stakeholders’ comments to review and revise the existing policy, which also includes the issue of tariffs. “A concern here is that the proposal suggests that the Minister for Energy has the power to decide on the tariff, which may not be acceptable to investors,” he said.Intra-regional energy trade is good for countries in this region, he said. On whether the RE project exit could be discussed with the Indian Prime Minister is there, sources said, “it could be. Though there is no official communication about it.”The Colombo West International Terminal (CWIT), which was initiated in September 2021 when Adani Ports signed an agreement with the Sri Lanka Ports Authority and Sri Lankan conglomerate John Keells Holdings, pledging over 0 million to expand the capabilities of Colombo Port, is expected to be inaugurated when Indian Prime Minister, Narendra Modi visits the Island nation shortly.

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Spices Board host awareness programme on organic production

Spices Board host awareness programme on organic production
Published on April 29, 2025
The programme was inaugurated P. Hemalatha, Secretary, Spices Board. Saswati Bose, General Manager, APEDA, B. N. Jha, Director (Marketing), Spices Board; Dharmendra Das, Director (Development), Spices Board and Joji Mathew, Director (Retd), Spices Board and Lead Auditor, NPOP addressed the participants. P. Hemalatha, Secretary, Spices Board inaugurated one-day sensitisation programme on the 8th edition of the National Programme for Organic Production (NPOP) on spices. B. N. Jha, Director (Marketing), Spices Board;  Saswati Bose, General Manager, APEDA, Dharmendra Das, Director (Development), Spices Board and . Joji Mathew, NPOP Lead Auditor were present.

The technical sessions featured insightful presentations on organic certification, updated NPOP standards, market trends, and practical challenges. Saswati Bose elaborated on the 8th edition’s provisions for sustainable spice production. The Spices Board, in collaboration with APEDA, conducted a one-day sensitisation programme on the 8th edition of the National Programme for Organic Production (NPOP) on spices at Kochi. The event aimed to raise awareness on updated NPOP standards for sustainable spice production besides promoting the export of organic spices and spice products.Thejas Thayyil, Business Head, Biowin Agro Research, spoke on the scope and global demand for organic spices. Hemalatha said, “Sustainable agriculture aims to ensure safe and nutritious food at affordable cost, farmer profitability, and environmental conservation. In this context, the 8th edition of NPOP provides essential guidelines for organic spice production in harmony with nature. I hope this programme deepens stakeholders’ understanding and commitment to sustainable practices.”

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Spices Board host awareness programme on organic production

Spices Board host awareness programme on organic production
The technical sessions featured insightful presentations on organic certification, updated NPOP standards, market trends, and practical challenges. Saswati Bose elaborated on the 8th edition’s provisions for sustainable spice production.
Hemalatha said, “Sustainable agriculture aims to ensure safe and nutritious food at affordable cost, farmer profitability, and environmental conservation. In this context, the 8th edition of NPOP provides essential guidelines for organic spice production in harmony with nature. I hope this programme deepens stakeholders’ understanding and commitment to sustainable practices.”The programme was inaugurated P. Hemalatha, Secretary, Spices Board. Saswati Bose, General Manager, APEDA, B. N. Jha, Director (Marketing), Spices Board; Dharmendra Das, Director (Development), Spices Board and Joji Mathew, Director (Retd), Spices Board and Lead Auditor, NPOP addressed the participants. Published on April 29, 2025 Thejas Thayyil, Business Head, Biowin Agro Research, spoke on the scope and global demand for organic spices. The Spices Board, in collaboration with APEDA, conducted a one-day sensitisation programme on the 8th edition of the National Programme for Organic Production (NPOP) on spices at Kochi. The event aimed to raise awareness on updated NPOP standards for sustainable spice production besides promoting the export of organic spices and spice products.P. Hemalatha, Secretary, Spices Board inaugurated one-day sensitisation programme on the 8th edition of the National Programme for Organic Production (NPOP) on spices. B. N. Jha, Director (Marketing), Spices Board;  Saswati Bose, General Manager, APEDA, Dharmendra Das, Director (Development), Spices Board and . Joji Mathew, NPOP Lead Auditor were present.

P. Hemalatha, Secretary, Spices Board inaugurated one-day sensitisation programme on the 8th edition of the National Programme for Organic Production (NPOP) on spices. B. N. Jha, Director (Marketing), Spices Board; Saswati Bose, General Manager, APEDA, Dharmendra Das, Director (Development), Spices Board and . Joji Mathew, NPOP Lead Auditor were present.

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Analysts seek visibility on tariff impacts on bottomlines, margins

Analysts seek visibility on tariff impacts on bottomlines, margins
Srini Pallia, CEO and MD of Wipro Ltd, felt that the economic environment had become uncertain on the back of tariff increases.
IT analysts have been grilling the top CXOs of top-tier companies like TCS, Infosys and Wipro to get a visibility on the terrain in the backdrop of tariffs

IT analysts have been grilling the top CXOs of top-tier companies like TCS, Infosys and Wipro to get a visibility on the terrain in the backdrop of tariffs. K Krithivasan, Chief Executive Officer and Managing Director of TCS, said that the Consumer Business Group saw heightened caution and delays in discretionary projects, especially in the US.Jayesh Sanghrajka, Chief Financial Officer (CFO) of Infosys, tariffs and trade barriers were likely to lead to a subdued spend and delayed decision-making.

The impact

Based on client conversations, large transformation projects are being paused or delayed. Clients with budgets are waiting for certainty about the situation before moving forward.There is some impact across the board, but there are some sectors more impacted than others. “For instance, our consumer business, you’re seeing more impact like retail, CPG, airlines, travel hospitality, we see more impact. Similarly, there is an impact in the auto sub segment within manufacturing. But if you take BFSI, by and large the segment is doing okay. There is some softness in insurance,” he said.“Retail sector has been impacted by economic uncertainty resulting in lower consumer spending in core markets. Due to recent tariff announcements, client budgets are expected to be tightened and there is increased caution. Decision cycles are getting stretched for discretionary spend and large deals,” he said.Pallia said that after the pause for 90 days on the tariffs, there was a little bit of stability over the last two few weeks. 

Uncertain economic environment 

In the recent earnings call, he said that it was driven by the significant drop in consumer sentiment in February, which had preceded changes in global trade and tariffs, creating a domino effect on retail CPG and TTH (travel, transportation, and hospitality) industries.“The impact of tariffs on IT service providers will be a function of their portfolio of offerings and end markets,” Prashant Shukla, vice president, Everest Group, said. “Weakness in auto, especially in Europe continues. We are helping clients in aerospace resolve bottleneck in the supply chain,” he said. “For instance, in terms of topline and deal pipelines,  part of portfolio which is discretionary in nature with exposure to directly impacted industries like manufacturing will suffer much more than, say, an essential, non-discretionary service with industry which is not directly impacted by tariffs, like banking. In short to medium term, cost-optimisation services will see more takers,” he said.Published on April 28, 2025 “We are seeing this impact not just in the US, but also in Europe. Similarly, these impacts are being seen across sectors, directly or indirectly. But some sectors have been impacted more, like consumer, manufacturing. Within manufacturing, specifically automotive and industrial, are impacted,” he said, responding to a query.Even as reciprocal tariffs by US President Donald Trump trigger an economic chaos across the world, IT analysts and investors are trying to weight how these tariffs could impact the bottomlines and margins of IT companies.He said the clients in all the industries were taking a lot more cautious approach. “And they’re also doing scenario planning, because they would like to see when this whole thing is settled down, before they start making more business decisions,” he said.

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Analysts seek visibility on tariff impacts on bottomlines, margins

Analysts seek visibility on tariff impacts on bottomlines, margins
In the recent earnings call, he said that it was driven by the significant drop in consumer sentiment in February, which had preceded changes in global trade and tariffs, creating a domino effect on retail CPG and TTH (travel, transportation, and hospitality) industries.
Based on client conversations, large transformation projects are being paused or delayed. Clients with budgets are waiting for certainty about the situation before moving forward.Jayesh Sanghrajka, Chief Financial Officer (CFO) of Infosys, tariffs and trade barriers were likely to lead to a subdued spend and delayed decision-making.Published on April 28, 2025

The impact

“We are seeing this impact not just in the US, but also in Europe. Similarly, these impacts are being seen across sectors, directly or indirectly. But some sectors have been impacted more, like consumer, manufacturing. Within manufacturing, specifically automotive and industrial, are impacted,” he said, responding to a query.“Retail sector has been impacted by economic uncertainty resulting in lower consumer spending in core markets. Due to recent tariff announcements, client budgets are expected to be tightened and there is increased caution. Decision cycles are getting stretched for discretionary spend and large deals,” he said.Srini Pallia, CEO and MD of Wipro Ltd, felt that the economic environment had become uncertain on the back of tariff increases.Pallia said that after the pause for 90 days on the tariffs, there was a little bit of stability over the last two few weeks. 

Uncertain economic environment 

Even as reciprocal tariffs by US President Donald Trump trigger an economic chaos across the world, IT analysts and investors are trying to weight how these tariffs could impact the bottomlines and margins of IT companies.“The impact of tariffs on IT service providers will be a function of their portfolio of offerings and end markets,” Prashant Shukla, vice president, Everest Group, said. “For instance, in terms of topline and deal pipelines,  part of portfolio which is discretionary in nature with exposure to directly impacted industries like manufacturing will suffer much more than, say, an essential, non-discretionary service with industry which is not directly impacted by tariffs, like banking. In short to medium term, cost-optimisation services will see more takers,” he said.IT analysts have been grilling the top CXOs of top-tier companies like TCS, Infosys and Wipro to get a visibility on the terrain in the backdrop of tariffs

There is some impact across the board, but there are some sectors more impacted than others. “For instance, our consumer business, you’re seeing more impact like retail, CPG, airlines, travel hospitality, we see more impact. Similarly, there is an impact in the auto sub segment within manufacturing. But if you take BFSI, by and large the segment is doing okay. There is some softness in insurance,” he said.He said the clients in all the industries were taking a lot more cautious approach. “And they’re also doing scenario planning, because they would like to see when this whole thing is settled down, before they start making more business decisions,” he said.“Weakness in auto, especially in Europe continues. We are helping clients in aerospace resolve bottleneck in the supply chain,” he said. IT analysts have been grilling the top CXOs of top-tier companies like TCS, Infosys and Wipro to get a visibility on the terrain in the backdrop of tariffs. K Krithivasan, Chief Executive Officer and Managing Director of TCS, said that the Consumer Business Group saw heightened caution and delays in discretionary projects, especially in the US.

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Editorial. Not so poor

Editorial. Not so poor
Published on April 27, 2025
It can be reasonably assumed that the implementation of food security schemes as well as crucial direct benefit transfers (Jan Dhan Yojana and PM Kisan Samman Nidhi Yojana, among others, including those introduced by the States) have made a big difference. The impact of these schemes has been captured through the new methodology used in Household Consumer Expenditure Surveys (HCESs) of 2022-23 and 2023-24. The World Bank draws an important line between extreme poverty and a ‘low and middle income country’ poverty level of .65 a day (PPP terms). Using the latter measure, India’s poverty is seen to have fallen sharply from 61.8 per cent to 28.1 per cent over a decade, lifting 378 million people out of poverty. The two sets of figures corresponding to their respective poverty lines are revealing. They tell us that foodgrain distribution to 80 crore people has perhaps played a big role in reducing extreme poverty; yet, a quarter of the population struggles to make ends meet even as their bare survival needs are provided for. The numerous DBT schemes could be meeting consumption needs in ways that are not entirely understood. Therefore, ‘freebies’ need to be understood in a more granular way with a view to rationalising them, as each could be distinct in its impact. The brief, which derives its conclusions from the HCESs of 2011-12 and 2022-23, also observes a decline in consumption-based inequality, but adds a caveat that this may not be borne out by income-based inequality assessments. It acknowledges that changes in methodology in HCES 2022-23 over its decade-ago version “present challenges for making comparisons”. The HCES data suggests that the urban-rural gap narrowed from 84 per cent in 2011-12 to 71 per cent in 2022-23 and further to 70 per cent in 2023-24. The brief, meanwhile, makes a sobering observation that the median earnings of the top 10 per cent were 13 times higher than the bottom 10 per cent in 2023-24. Owing to methodological issues, it is hard to say whether this marks an improvement over time. The World Bank’s recently released poverty and equity brief on India confirms what many researchers and lay observers have said from time to time — that ‘extreme poverty’ in India, measured in terms of those living on less than .15 a day in 2017 PPP terms, is turning into a footnote. It has fallen from 16.2 per cent in 2011-12 to 2.3 per cent in 2022-23. As a result 171 million people have emerged from a state of dire want.Foodgrain distribution to 80 crore people has perhaps played a big role in reducing extreme poverty

Some of the brief’s observations are puzzling. For instance, the view that “recent data indicates a shift of male workers from rural to urban areas for the first time since 2018-19” does not sit well with Periodic Labour Force Survey data on rising workforce in agriculture in recent years — or for that matter, arguably with a December 2024 study by the Economic Advisory Council to the Prime Minister that points to a decline in rural to urban migration over a decade. The data noise with respect to India’s socio-economic profile needs serious attention.

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Editorial. Not so poor

Editorial. Not so poor
It can be reasonably assumed that the implementation of food security schemes as well as crucial direct benefit transfers (Jan Dhan Yojana and PM Kisan Samman Nidhi Yojana, among others, including those introduced by the States) have made a big difference. The impact of these schemes has been captured through the new methodology used in Household Consumer Expenditure Surveys (HCESs) of 2022-23 and 2023-24. The World Bank draws an important line between extreme poverty and a ‘low and middle income country’ poverty level of .65 a day (PPP terms). Using the latter measure, India’s poverty is seen to have fallen sharply from 61.8 per cent to 28.1 per cent over a decade, lifting 378 million people out of poverty. The two sets of figures corresponding to their respective poverty lines are revealing. They tell us that foodgrain distribution to 80 crore people has perhaps played a big role in reducing extreme poverty; yet, a quarter of the population struggles to make ends meet even as their bare survival needs are provided for.
Some of the brief’s observations are puzzling. For instance, the view that “recent data indicates a shift of male workers from rural to urban areas for the first time since 2018-19” does not sit well with Periodic Labour Force Survey data on rising workforce in agriculture in recent years — or for that matter, arguably with a December 2024 study by the Economic Advisory Council to the Prime Minister that points to a decline in rural to urban migration over a decade. The data noise with respect to India’s socio-economic profile needs serious attention. The World Bank’s recently released poverty and equity brief on India confirms what many researchers and lay observers have said from time to time — that ‘extreme poverty’ in India, measured in terms of those living on less than .15 a day in 2017 PPP terms, is turning into a footnote. It has fallen from 16.2 per cent in 2011-12 to 2.3 per cent in 2022-23. As a result 171 million people have emerged from a state of dire want.Foodgrain distribution to 80 crore people has perhaps played a big role in reducing extreme poverty

Published on April 27, 2025 The numerous DBT schemes could be meeting consumption needs in ways that are not entirely understood. Therefore, ‘freebies’ need to be understood in a more granular way with a view to rationalising them, as each could be distinct in its impact. The brief, which derives its conclusions from the HCESs of 2011-12 and 2022-23, also observes a decline in consumption-based inequality, but adds a caveat that this may not be borne out by income-based inequality assessments. It acknowledges that changes in methodology in HCES 2022-23 over its decade-ago version “present challenges for making comparisons”. The HCES data suggests that the urban-rural gap narrowed from 84 per cent in 2011-12 to 71 per cent in 2022-23 and further to 70 per cent in 2023-24. The brief, meanwhile, makes a sobering observation that the median earnings of the top 10 per cent were 13 times higher than the bottom 10 per cent in 2023-24. Owing to methodological issues, it is hard to say whether this marks an improvement over time.

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