India is aiming to reach 500 gigawatts of clean power capacity by 2030 and affordable storage solutions for intermittent sources like solar and wind are crucial in a country that still gets nearly three-quarters of its electricity from coal.
Essar, which continued to hold a 33 per cent stake in Vodafone-Essar, too sold its stake and bid goodbye to the telecom business.
At the World Economic Forum in Davos that kicked off on Wednesday, Prashant Ruia of the Essar Group explains to the CNBC-TV18‘s Menaka Doshi that government initiative in India and the return of growth in the US and China is set to create a global economic boom across all sectors.
Leading global steel producers are bracing themselves for a surge in Chinese exports, as a marked slowdown in Asia's largest economy pushes its struggling domestic steelmakers to send more excess capacity abroad.
Chief Executive of the Essar group Prashant Ruia has said India is facing a power crisis largely because of delayed approvals and an acute shortage of coal. Ruia called for more action from the government to make India an attractive destination for foreign investors.
Coal based power is the easiest solution to India's power needs, that's the word coming in from the CEO of the Essar Group, Prashant Ruia. He argues that when compared to the alternate options like nuclear power, coal based projects have multiple advantages.
The CBI today quizzed Essar group CEO Prashant Ruia in connection with its probe into the 2G spectrum allocation scam as the agency prepares to question top honchos of a Dubai-based group.
The Supreme Court will hear tomorrow the plea of bringing corporate czars like Reliance Telecom Chairman Anil Ambani, Essar's CEO Prashant Ruia and the Tatas' within the ambit of the probe into 2G spectrum allocation scam.
You cannot have failed to notice that Tihar jail is suddenly becoming a very crowded place. Over the last two months, MPs, ministers, civil servants and corporate CEOs have been committed with precincts. Consequently, many people are asking, is this a significant shift in Indian justice; silently but surely is something dramatic happening?
The Central Bureau of Investigation (CBI) charged three telecoms firms, former telecoms minister A Raja and several executives with a range of crimes on Saturday in a multi-billion dollar licensing scandal, potentially the biggest graft case in Indian history.
The Central Bureau of Investigation (CBI) continues to tighten its noose around the 2G scam controversy. After questioning ADAG chief Anil Ambani on Wednesday, the CBI on Thursday summoned Essar Group CEO Prashant Ruia in relation to 2G scam investigation.