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Most of India's coal imports come from: Australia, Indonesia and South Africa....US to some degree as well.

About 300 - 400 million metric tons a year in total, or about 20 - 25 billion USD in recent years.

India also produces about 750 million metric tons itself.

So you can say total consumption in recent years is about 1.1 billion tons of it per year....and about 1/3rd via import.

Actually Indonesia is the largest exporter to India with 43 %

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As much as 80 per cent of India’s coal demand is met from domestic production. While India’s total demand for coal in 2020-21 was around 906 million tonnes, domestic coal production was 716 million tonnes. A bulk of India’s coal imports (43 per cent) are from Indonesia, followed by Australia (26 per cent), South Africa (14 per cent) and the US (6 per cent). CIL has a near-monopoly in domestic production, and along with its subsidiaries, accounted for 596.25 million tonnes of coal production in 2020-21.

 

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Australians think that only they have coal which is very stupid, all coal needing countries can easily switch to buy coal from other coal rich countries, coal is one of the most abundant resources on this planet.
 

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China is the world factory supplying the whole world with everything, it comes with a hefty energy consumption tag too.
China herself is the world most coal rich country, but China consumes 54.3 percent of the world's coal, China is coal rich but not to the point of having over half of the world total coal reserve. this is why China still needs to import about 8% of total amount of her coal consumption.

What might surprise you is that barely 20 years ago, China was a net coal and oil exporter, back then China's main foreign reserve money was from selling coal to Japan, China even built a special high standard railway solely for this purpose, Daqin railway, and coal from the major coal producing region Datong can be fast transported via the rail to Qinhuangdao port, which is very close to Japan and from there it was shipped to Japan.

Some people are remniscent and nostalgic over those times when China produced more than enough food, oil, coal and everything for herself and exported them in big quantity to other countries, but the real picture is not this simple. Back then China exported raw material and imported manufactured goods, the trade was not in China's favor.
 
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Sanction just wont work especially against countries with with global allies.
 

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Actually Indonesia is the largest exporter to India with 43 %

-------------------------------------------------------

As much as 80 per cent of India’s coal demand is met from domestic production. While India’s total demand for coal in 2020-21 was around 906 million tonnes, domestic coal production was 716 million tonnes. A bulk of India’s coal imports (43 per cent) are from Indonesia, followed by Australia (26 per cent), South Africa (14 per cent) and the US (6 per cent). CIL has a near-monopoly in domestic production, and along with its subsidiaries, accounted for 596.25 million tonnes of coal production in 2020-21.


Yes it seems to have changed in 2020 and maybe for 2021 too.

I took data from 2019 (OEC)....so amount we got from Australia afterwards seems to have dropped and INA remain the same or more.

I suppose India has more long term contracts with Indonesian coal.

I remember PM Vajpai visit in early 2000s when megawati was indonesian president.

A lot of coal agreements were signed then that likely form the larger reliablity of supply today compare to Australia which may be more year to year (fluctuate) kind of thing.
 

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Surge is likely to generate 7.5-10 million new jobs


Backed by the 'China Plus One' sentiment globally, India’s textile exports is expected to grow by 81 per cent to $65 billion by 2026 from the pre-Covid level of around $36 billion in 2019, said a report by the Confederation of Indian Industry (CII) and global consulting firm Kearney. This jump is likely to generate 7.5-10 million new jobs.

A large chunk of this targeted increase, or around $16 billion may come from the China Plus One sentiment due to India’s relatively large strategic depth compared with Vietnam or Bangladesh, the report said. “We believe with the right actions from the industry majors and robust execution of government schemes, India can hit $65 billion in exports (implying 9-10 per cent compound annual growth rate) by 2026. This, coupled with growth in domestic consumption, could propel domestic production to reach $160 billion,” said Siddharth Jain, Partner, Kearney.


Other key areas where the growth is expected include fabrics where the target is a $4 billion jump by positioning India as a regional fabric hub, starting with cotton wovens and then extending to other sub-categories. In home textiles too, the target is an increase of $4 billion by building on existing advantages to expand the global customer base. On man-made fiber and yarn a $2.5 billion to $3 billion jump is expected with a focus on gaining share in MMF (man made fiber) products. On the other hand, in technical textiles around $2 billion jump is targeted by building capabilities in select key sub-segments on the back of potential domestic demand growth.

“Covid-19 has triggered the redistribution of global trade shares and a recalibration of sourcing patterns (“China plus one” sourcing), providing a golden opportunity for Indian textiles to stage a turnaround and regain a leadership position as a top exporting economy. We believe India’s textile industry should target 8-9 per cent CAGR during 2019–2026, driven by domestic demand growth and significant growth in annual exports (reaching $65 billion by 2026)” says Neelesh Hundekari, Partner and APAC Head of Lifestyle Practice at Kearney.

The Textile industry employs almost 45 million people in the farming and manufacturing sectors. However, the country’s recent performance in global trade has not been commensurate with its abilities. Exports declined by 3 per cent during 2015–2019 and by 18.7 per cent in 2020. And yet during the same period, other low-cost countries such as Bangladesh and Vietnam have gained share.

A variety of factors have contributed to India’s recent trade performance. India has factor cost disadvantages (example, power costs 30 to 40 percent more in India than it does in Bangladesh). Lack of free or preferential trade agreements with key importers, such as the European Union, United Kingdom, and Canada for apparel as well as Bangladesh for fabrics, puts pricing pressure on exporters. The high cost of capital and high reliance on imports for almost all textiles machinery makes it difficult to earn the right return on invested capital, especially given India’s slight cost disadvantage. Longer lead times than for Chinese manufacturers make India uncompetitive, especially in the fashion segment.
 

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Yup I expect this year total services export (not just software) to be around 230 billion USD...a new record....with software (IT) making the majority.

On goods side, India also will see a record year...it will break 400 billion USD level for first time.

So total exports will be around 630 billion USD (or somewhere in range of 600 - 650)...

...an increase from 530 billion set in 2019 (so annualised growth of roughly 9% over two years)

...and increase from 475 billion in 2020 covid shut down year....or a growth over one year of nearly 33%

But these numbers are still early/lackluster at this current frame of time. (to make any mid term analysis, forget long term)

The difference between 33% and 9% (annualised over two years) for example shows how much of the larger number is recovery from covid shutdown due to depressed base effect in 2020.

I have always said more years of consistent growth are needed (to see any real evidence of baseline trajectory) and also to see some deeper trends to actually analyse (such as competitiveness and productivity gains etc....very important to any economy).

Thoughts on indian economy export situation right now as part of larger reply (can check out context etc with the quote arrow).
 

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From New Indian Express:

FC6olbzWEAENwXi
 

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its about 103 billion USD worth of digital transaction across country each month.

So we are going to get to about 1.2 trillion USD digitally transacted per year.

What are numbers like for (Digital transaction) Vietnam and Indonesia out of interest @Indos @Viva_vietnamm et al?
 

Viva_vietnamm

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its about 103 billion USD worth of digital transaction across country each month.

So we are going to get to about 1.2 trillion USD digitally transacted per year.

What are numbers like for (Digital transaction) Vietnam and Indonesia out of interest @Indos @Viva_vietnamm et al?
We haven't start the Digital transaction yet ̣(Bitcoin, dog coin etc ) due to worrying about money laundering and cheating.

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Central Bank Digital Currency Deployment in Vietnam: Opportunities and Challenges
05:30 October 2, 2021
In Decision No. 942/QD-TTg dated June 15, 2021, the Government assigned the State Bank to study, build and pilot the use of virtual currency based on blockchain technology, showing that it is time for the State Bank. Vietnam needs to research and build its own digital currency, like the digital currency in circulation or being piloted in many countries around the world.
Central bank-issued digital currency and problems with Vietnam


Along with the strong development of the Industrial Revolution 4.0, digital money and transactions related to digital money increasingly penetrate into the global socio-economic life. Facing this trend, Central Banks of many countries have begun and seriously studied the issuance and piloting of Central Bank digital currencies. That is, instead of printing paper money, the Central Bank issues a certain amount of digital money based on blockchain technology (blockchain) into circulation in the economy.

As such, a central bank digital currency is a fiat currency in a digital form issued by the Central Bank of a sovereign country or territory. Thanks to blockchain technology and encryption, the Central Bank's cryptocurrency transactions (CBDCs) are perceived as having high transparency, reliability and security, much less risk than cash. transaction history can be retrieved…

Payment, sending and receiving operations with digital currency are done directly, instantly, anytime, anywhere, without any intermediaries; Unlimited transaction amount with low cost, simple and fast, no country geographical restrictions. The use of digital currency also limits the use of cash, which causes many inadequacies and costs, especially in the context of digital technology development and epidemic outbreaks. Central banks of other countries also have additional tools to help accurately control the money supply, thereby contributing to improving the efficiency of monetary policy management to promote the economy...

Central Bank Digital Currency Deployment in Vietnam: Opportunities and Challenges - Photo 1
In Vietnam, on June 15, 2021, the Government issued Decision No. 942/QD-TTg approving the e-government development strategy towards digital government in the 2021-2025 period, with a vision to 2030. In particular, the Government assigned the State Bank to research, build and pilot the use of virtual currency based on blockchain technology. This strategy is considered as the basis, which can pave the way for the research and construction of a digital currency of the State Bank, similar to the digital currency in circulation or being piloted in many countries. country in the world.

Advantages of central bank digital currency development in Vietnam

Currently, some think that the acceptance of digital currencies in general and digital currencies issued by the Central Bank in particular in this period may not be appropriate, but Vietnam also needs to prepare and come up with appropriate scenarios and solutions to the general trend of the world. Given the current situation, the research, development and piloting of a digital currency issued by the Central Bank in Vietnam has a number of favorable factors as follows:

Firstly, the need to invest in digital cryptocurrencies is large:

Currently, Vietnam has a large number of people interested in participating in the field of virtual currency, digital cryptocurrency. A survey by Statista shows that Vietnam is in the top 3 globally in terms of the percentage of people owning cryptocurrencies. According to an estimate by Chainalysis, Vietnamese investors have made $0.4 billion in 2020 investing in Bitcoin. On a global scale, Vietnam ranks 13th in the world in terms of Bitcoin-related profitability (Figure 1).
 

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On the first day of the historic climate summit, the Republic of India represented by Prime Minister Narendra Modi made several key announcements & commitments toward a Green future. As this is a multi-day event, I'll keep this thread updated as further news comes, but here are the key points from the first day:

road-to-zero-cop26.jpeg


984235-cmayetr.jpg

PM Modi at COP26 in Glasgow, UK

  • Net-Zero by 2070 - India has set itself the goal of net-zero carbon emission by 2070, a decade later than China's announced goal of 2060 and well after the UN's desired target year of 2050, which both the US & EU have decided to adhere to. The announcement, lauded by most democratic leaders including UK PM Boris Johnson, is to be seen as a great way to guarantee ample time for India as a country to industrialize its economy before the brunt of climate regulation begins to be felt. Personally, I'd think investors across the world would be salivating at the prospects, given the extra time they get to pursue carbon-intensive investments in the country.

  • 500GW "Non-Fossil" Energy by 2030 - This is further ahead than the previous target of 450GW by 2030. Of note is that the term "non-fossil" was used in the official statement (linked below), not "renewable", which allays any fears that Nuclear would not be included in this target. As of July 2021, the renewable capacity stands at nearly 100GW, well on target.

Rajasthan_3_100_MW-1200x675.jpg

The Bhadla Solar Park in Rajasthan, India - At a capacity of 2,245MW (2.2GW), Bhadla is currently the largest photovoltaic powerplant in the world, with China's Huanghe Solar Park being a close second at 2,200MW

50% of Energy from Renewables by 2030 - This in my opinion is the tricky bit. Personally, I have very little faith in Wind to be a reliable source. The Germans are paying heavily for that mistake, as are anyone who followed them. Solar is fine & will keep getting better. But the fact that "renewable" is used here instead of "non-fossil" indicates that Nuclear may not be included in this 50% target. If half of the 50% is met through hydro, 30-35% solar & rest wind, it may be fine. But of crucial importance (to me especially) is how much percentage could Nuclear fill for the other half? The long-term goal should be to derive between 20-30% of total energy capacity from Nuclear, with no upper ceiling.

PHWR_under_Construction_at_Kakrapar_Gujarat_India.jpg

Kakrapar Atomic Power Station (KAPS) Units 3 & 4 under construction in Gujarat, India - the reactor is the IPHWR-700 designed by BARC & built by NPCIL together with Private industry. The 700MWe reactor is currently the largest-capacity reactor of indigenous design in operation. Currently there are 17 reactors of indigenous design operating in India, comprising IPHWR-220, 540 & 700MWe models, with over a dozen more in construction

India expects Developed Countries to Pay up - In the summit, PM Modi stated that it's important for developed states to finance renewable projects in the developing world, to the tune of $1 trillion dollars. I'd think India should seek to procure external financing for some of the more unviable/unreliable programs like Wind, while the bulk of domestic resources should be spent on R&D and increasing production capacity for the more reliable sources like Nuclear & Solar.

Indian Railways Net-Zero by 2030 - The third-largest railway network in the world, which is also the largest employer in India with over 1.4 million employees, the Indian Railways would reach its net-zero target well before the rest of the country. Electrification of the railway network, which can greatly reduce carbon emissions, has picked up considerable pace in last few years and currently stands at nearly 75% of the total railway being electrified. The target is to reach 100% electrification by 2024. Along with introduction of more efficient locomotives.

Locomotive_WAG-12B_Alstom_04.jpg

The WAG-12 of Alstom design built by ELF Madhepura in Bihar, India is currently the most powerful electric freight locomotive used by Indian Railways - capable of hauling over 6,000 tons of freight cargo at speeds of up to 120 km/ph on the Dedicated Freight Corridors (DFCs)

One Sun Declaration - PM Modi has also announced the creation of the "One Sun, One World, One Grid" or OSOWOG program under the Green Grids Initiative. The program will be implemented by the International Solar Alliance (ISA), an organization originally initiated by the Indian Government in 2015 and now has 124 member states. The OSOWOG plan, jointly launched by Indian PM Modi & British PM Johnson, aims to create a "Global Solar Grid", by which surplus production in part of the world can be transferred to another where there is a deficit leading to fossil fuel burning. The OSOWOG will be led by a "Steering Group" of countries (India, UK, US, Australia & France) and comprises of 80 other countries that endorsed the declaration.

cpo26_isa_blog_photo1.png

Real-Time Solar Calculator - PM Modi also announced that the Indian Space Research Organization (ISRO) will be developing an application for obtaining real-time data via a geostationary satellite network that would be specifically geared toward monitoring of solar energy potential across the world, providing data in support of the OSOWOG program enabling real-time regulation, planning & general monitoring of various grids. The technology, developed by ISRO's Space Applications Centre (SAC) was already implemented for pan-India solar monitoring, and would now be expanded for global coverage.

rsz_17-7gsat-19undergoingtestatcompactantennatestfacility.jpg

Representative image of ISRO geostationary satellite undergoing testing in an Anechoic chamber. The Solar Calculator App will be similar in function to Project Sunroof, created by Google engineer Carl Elkin, but geared toward the monitoring of various solar powerplants connected to the grid instead of monitoring personal homes & offices like Sunroof.


Further important updates, if any, will be posted in this thread.​
 

Nilgiri

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We haven't start the Digital transaction yet ̣(Bitcoin, dog coin etc ) due to worrying about money laundering and cheating.

------------
Central Bank Digital Currency Deployment in Vietnam: Opportunities and Challenges
05:30 October 2, 2021
In Decision No. 942/QD-TTg dated June 15, 2021, the Government assigned the State Bank to study, build and pilot the use of virtual currency based on blockchain technology, showing that it is time for the State Bank. Vietnam needs to research and build its own digital currency, like the digital currency in circulation or being piloted in many countries around the world.
Central bank-issued digital currency and problems with Vietnam


Along with the strong development of the Industrial Revolution 4.0, digital money and transactions related to digital money increasingly penetrate into the global socio-economic life. Facing this trend, Central Banks of many countries have begun and seriously studied the issuance and piloting of Central Bank digital currencies. That is, instead of printing paper money, the Central Bank issues a certain amount of digital money based on blockchain technology (blockchain) into circulation in the economy.

As such, a central bank digital currency is a fiat currency in a digital form issued by the Central Bank of a sovereign country or territory. Thanks to blockchain technology and encryption, the Central Bank's cryptocurrency transactions (CBDCs) are perceived as having high transparency, reliability and security, much less risk than cash. transaction history can be retrieved…

Payment, sending and receiving operations with digital currency are done directly, instantly, anytime, anywhere, without any intermediaries; Unlimited transaction amount with low cost, simple and fast, no country geographical restrictions. The use of digital currency also limits the use of cash, which causes many inadequacies and costs, especially in the context of digital technology development and epidemic outbreaks. Central banks of other countries also have additional tools to help accurately control the money supply, thereby contributing to improving the efficiency of monetary policy management to promote the economy...

Central Bank Digital Currency Deployment in Vietnam: Opportunities and Challenges - Photo 1
In Vietnam, on June 15, 2021, the Government issued Decision No. 942/QD-TTg approving the e-government development strategy towards digital government in the 2021-2025 period, with a vision to 2030. In particular, the Government assigned the State Bank to research, build and pilot the use of virtual currency based on blockchain technology. This strategy is considered as the basis, which can pave the way for the research and construction of a digital currency of the State Bank, similar to the digital currency in circulation or being piloted in many countries. country in the world.

Advantages of central bank digital currency development in Vietnam

Currently, some think that the acceptance of digital currencies in general and digital currencies issued by the Central Bank in particular in this period may not be appropriate, but Vietnam also needs to prepare and come up with appropriate scenarios and solutions to the general trend of the world. Given the current situation, the research, development and piloting of a digital currency issued by the Central Bank in Vietnam has a number of favorable factors as follows:

Firstly, the need to invest in digital cryptocurrencies is large:

Currently, Vietnam has a large number of people interested in participating in the field of virtual currency, digital cryptocurrency. A survey by Statista shows that Vietnam is in the top 3 globally in terms of the percentage of people owning cryptocurrencies. According to an estimate by Chainalysis, Vietnamese investors have made $0.4 billion in 2020 investing in Bitcoin. On a global scale, Vietnam ranks 13th in the world in terms of Bitcoin-related profitability (Figure 1).

Not crypto I mean, just regular non-cash payments (using debit, smartphone etc):


103 billion from 4 billion transactions means each transaction averaged about 25 USD each (Oct 2021 for india)

Also from 4 billion transactions per month, we could see increase to 50 billion transactions in 5 years:


@Jackdaws @crixus @Indos

Maybe this number of 14 billion for Vietnam, predicted to reach 24 billion by 2025:

I guess overall Vietnam is still cash-heavy system?

Vietnam is looking to grow digital fast:
 

Nilgiri

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BlackRock looks to power Tata Power's green business​



Synopsis

BlackRock chairman and CEO Larry Fink is closing in on an investment of $500-750 million (₹3,750-5,625 crore) in Tata Power Renewable Energy Ltd (TPREL), said people with knowledge of the matter.

green-energy.jpg


The biggest green warrior on Wall Street might soon partner with one of India's most trusted conglomerates. BlackRock chairman and CEO Larry Finkis closing in on an investment of $500-750 million (₹3,750-5,625 crore) in Tata Power NSE 0.13 % Renewable Energy Ltd (TPREL), said people with knowledge of the matter. That will value the subsidiary of listed Tata Power at around $5 billion (around ₹35,000 crore), said people aware of the development. Fink was among the earliest champions of climate change and sustainability linked investment; BlackRock is the world's largest asset manager.

ET was the first to report, on September 22, about Tata Power restarting capital-raising plans, mandating investment bank Moelis, nearly six months after pulling out of talks with Malaysian state-owned energy giant Petronas for a potential $2 billion investment.

Due Diligence on
Canadian pension fund CPPIB was another potential investor that was evaluating the investment opportunity. But BlackRock's chunky valuation of the business-buoyed by a $1 billion investment by TPG Rise in Tata Motors' electric vehicle business - has made it a stronger contender to be the main anchor investor, said the people cited above.

Due diligence has begun after the initial screening of potential investors. The company is looking to close negotiations by December-end. Depending on investor appetite, the company may increase its capital-raising plans to $1 billion with multiple smaller co-investors.

1635967057985.png


As with the private equity group, BlackRock has dedicated pools of capital for clean tech and green energy investments. BlackRock's third global renewable power fund raised $4.8 billion - almost double its initial target - to invest in assets around the world, drawing money from over 100 institutional investors, it said in April. Tata Power declined to comment. Tata Sons and BlackRock didn't respond to queries.

Unlike the previous attempt that sought to create an infrastructure investment trust comprising the generating green assets, this time funds are being raised for an entity that groups the entire renewables portfolio. This entity will include operating and pipeline independent power producer (IPP) assets, charging stations, rooftop solar, microgrids, panel manufacturing, engineering, procurement and construction (EPC). For instance, Tata Power Solar is a 100% subsidiary of the wholly owned TPREL.

Experts also see this as a potential value-unlocking and valuation-benchmarking exercise before an eventual listing.

Tata Power, the country's largest integrated power company, has a stated plan to phase out coal-based capacity and expand its clean and green capacity to 80% by FY30. Renewable energy comprises almost a third of its total power capacity of 13 GW. The management hopes to increase this share exponentially to 80% by 2030, as per the management's commentary, to improve its environmental, social and governance (ESG) ratings and increase its appeal to overseas investors. Since January, it has commissioned or received letters of intent for solar projects with a capacity of over 1 GW. "The company has the potential to be India's NextEra Energy, as it expertly straddles stable distribution and high growth renewable businesses," said Apoorva Bahadur of Investec.

Analysts said the company is increasingly looking at a holistic strategy across the clean energy business spectrum like solar module manufacturing, solar pumps and electric vehicle (EV) charging that provides growth options and helps position it as an integrated renewables player. Investors have endorsed the shift - the Tata Power stock has appreciated 125% in the past six months, while the BSE Power Index has gone up 36.5% in the same period.

One of the key growth strategies is to focus on sunrise areas that are less capital intensive but gaining traction, such as solar EPC and pumps, transmission and distribution and the value chain of renewable businesses. Besides, the company is gradually moving into the business-to-consumer (B2C) value chain via electric vehicle charging stations and home automation, among others. In solar for example, Tata Power has built a presence along the entire value chain - module and cell manufacturing, EPC and operations and maintenance (O&M) - for competitive advantage. The company also has a presence in upcoming battery storage technology and in August won the tender for the country's first large-scale battery storage project at Ladakh, rated at 50 MWh.

Tata Power is also one of the frontrunners in solar-wind hybrid power and market leader in solar rooftops. In April, Tata Power Solar doubled manufacturing capacity at its Bengaluru facility to 1.1 GW, and has been looking to tap into the government's Rs 4,500 crore production-linked incentive (PLI) scheme for solar modules. It submitted a bid to expand its cell and module manufacturing capacity to 4 GW, if the government's initiatives come through. For its EV play, Tata Power is leveraging the entire group to manage network access, billing, time of day (TOD) tariffs and others. While the market is still evolving, the overall opportunity size could be $3-5 billion over the next seven-eight years, assuming penetration of 30%, believe industry players.

This pivot coincides with the overall clean energy surge triggered by a combination of the decline in capital cost, technological advancements and political commitment toward climate change, making it the preferred choice for incremental capacity globally.

The balance sheet too has been broadly mended with restructuring and divestments, analysts said, giving a further boost to the stock. Net debt at the end of September was Rs 39,719 crore, of which Rs 13,733 crore is on account of the renewables business. Parent Tata Sons also invested $350 million in the company. Last week, the company posted a 36% jump in consolidated net profit for the September quarter on the back of higher revenues. "The Q2 results of Tata Power (TPCL) manifest strong traction towards clean energy businesses and a head start with leadership status across," said Swarnim Maheshwari of Edelweiss.
 

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Viva_vietnamm

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Yes, still cash-heavy system, we also wanna change, but seem like it will take more time.
Will Vietnam consider UPI system ,in addition to homegrown systems , Singapore also took initiative in this direction .

Dubai too allowed it .

 

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Will Vietnam consider UPI system ,in addition to homegrown systems , Singapore also took initiative in this direction .

Dubai too allowed it .

Seem like we have UPI system in big cities,

-----------

VNPAY, UPI cooperate in QR code payment​

Update: June, 21/2018 - 18:34
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qr58554108PM.jpg
UPI cardholders around the world can pay by QR code at nearly 20,000 accepted payment points established by VNPAY in Việt Nam. — Photo mastercard.com
Viet Nam News
HÀ NỘI — Việt Nam Payment Solution Joint Stock Company (VNPAY) and UnionPay International (UPI) signed a co-operation agreement on Wednesday on payment by QR code.

The signing ceremony marks the official entrance of UPI in the potential mobile payment market in Việt Nam.

UPI will become a strategic partner of VNPAY to bring the payment method via QR code on mobile application of banks to the global market.

At the same time, the linkage will be an important step for VNPAY to participate in the international payment system in future.

Under the agreement, UPI cardholders around the world can pay by QR code at nearly 20,000 accepted payment points established by VNPAY in Việt Nam. This figure is expected to increase to 50,000 by the end of this year.

To avail this facility, cardholders can use the QR code scanner integrated in the mobile applications of banks linked to UPI.

In the past, VNPAY has successfully developed and implemented payment methods using QR Pay code on mobile banking applications.

The payment method allows customers using the mobile application of banks to scan QR codes to make quick payments for goods and services.

Currently, QR Pay has been integrated in mobile applications of most major banks in Việt Nam, including Vietcombank, VietinBank, Agribank, ABBANK, SCB, NCB, IVB, MartimeBank, SHB and VIB, with more than eight million users. — VNS

 

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A
Seem like we have UPI system in big cities,

-----------

VNPAY, UPI cooperate in QR code payment​

Update: June, 21/2018 - 18:34
Share facebook Chia sẻ bài viết lên Twitter Share google+ |
icon_letter.gif

qr58554108PM.jpg
UPI cardholders around the world can pay by QR code at nearly 20,000 accepted payment points established by VNPAY in Việt Nam. — Photo mastercard.com
Viet Nam News
HÀ NỘI — Việt Nam Payment Solution Joint Stock Company (VNPAY) and UnionPay International (UPI) signed a co-operation agreement on Wednesday on payment by QR code.

The signing ceremony marks the official entrance of UPI in the potential mobile payment market in Việt Nam.

UPI will become a strategic partner of VNPAY to bring the payment method via QR code on mobile application of banks to the global market.

At the same time, the linkage will be an important step for VNPAY to participate in the international payment system in future.

Under the agreement, UPI cardholders around the world can pay by QR code at nearly 20,000 accepted payment points established by VNPAY in Việt Nam. This figure is expected to increase to 50,000 by the end of this year.

To avail this facility, cardholders can use the QR code scanner integrated in the mobile applications of banks linked to UPI.

In the past, VNPAY has successfully developed and implemented payment methods using QR Pay code on mobile banking applications.

The payment method allows customers using the mobile application of banks to scan QR codes to make quick payments for goods and services.

Currently, QR Pay has been integrated in mobile applications of most major banks in Việt Nam, including Vietcombank, VietinBank, Agribank, ABBANK, SCB, NCB, IVB, MartimeBank, SHB and VIB, with more than eight million users. — VNS

Amazing , this will help in our business environments to link up
 

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