The U.S. government announced a plan Monday to award roughly $1.5 billion to the New York-based chipmaker, GlobalFoundries (GF), to strengthen domestic semiconductor production, drawing attention to its support plans for foreign firms like Samsung Electronics.
There was reduction in coal imports due to ample domestic supply and a slowdown in demand after the festive season in October, mjunction MD and CEO Vinaya Varma said.
Coal imports in India increased by 11.7% to 20.95 Million Tonnes (MT) in November compared to the same period last year, according to data from B2B e-commerce company mjunction services. However, overall coal imports for the April-November period of the current financial year decreased to 169.08 MT from 173.47 MT in the previous year. The reduction in coal imports can be attributed to sufficient domestic supply and a slowdown in demand after the festive season in October, explained Vinaya Varma, MD and CEO of mjunction.
India’s reliance on thermal coal imports for blending has witnessed a significant downturn, with a 44.3 per cent year-on-year decrease, totalling 15.16 million metric tons from April to November in.
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