Friday, 2 October 2026

'Smallest trader receives...': What Piyush Goyal said as he rejects conditional MFN treatment at G20 meet

Union Commerce and Industry Minister Piyush Goyal made it clear that India opposes linking the Most-Favoured-Nation (MFN) status to voluntary or selective WTO rules. He was attending the the G20 Trade Ministers' Meeting Session.

Mint

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View Market Dashboard 'Smallest trader receives...': What Piyush Goyal said as he rejects conditional MFN treatment at G20 meet Union Commerce and Industry Minister Piyush Goyal made it clear that India opposes linking the Most-Favoured-Nation (MFN) status to voluntary or selective WTO rules. He was attending the the G20 Trade Ministers' Meeting Session. Sneha Biswas Published3 Oct 2026, 12:06 AM IST Prefer Liveminton Google AI Quick Read ✕ Wait for it… Log in to our website to save your bookmarks. It'll just take a moment. Yes, Continue ✕ Wait for it… Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.

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L&T may sell minority stake in its clean energy arm

L&T is looking at the Kandla project as a strategic export hub for green hydrogen derivatives Mumbai: Engineering conglomerate Larsen & Toubro is in talks with Japan's Itochu Corporation to sell a minority stake in its wholly-owned clean energy unit. The Japanese general trading giant is also partnering with L&T Energy GreenTech Ltd (LTEGL) in developing and commercialising a 300 kilo tonnes per annum (ktpa) green ammonia project at Kandla in Gujarat. "We are in discussion with Japan's Itochu group for equity participation, in addition to the green ammonia offtake," Subramanian Sarma, deputy managing director and president, L&T told ET. He didn't disclose the size of Itochu may acquire. Live Events LTEGL had earlier raised equity from its parent through rights issues, including an issue specifically intended for the green ammonia development project at Deendayal Port, formerly Kandla Port. LTEGL is building the project in Kandla on a sizeable land parcel acquired by L&T last year for building green hydrogen and green ammonia projects. This April, LTEGL signed a long-term take-or-pay agreement to supply 300,000 tonnes per annum of green ammonia from the proposed facility. Through this partnership with LTEGL, supplies from Kandla are expected to support Itochu's bunkering operations in Singapore and other locations, enabling the early adoption of green ammonia as a next-generation marine fuel and support the shipping industry's transition towards low-carbon operations. LTEGL may also evaluate offering minority stakes in its green ammonia projects to other international partners, as it seeks to bring external capital into the business and strengthen the financing of its planned projects, said industry sources. L&T's FY26 annual report identified the 300 KTPA Kandla project as a key part of its energy transition strategy. The move to onboard international equity partners comes as developers of large green hydrogen and ammonia projects increasingly look to combine project development expertise, long-term offtake and capital from strategic partners to improve the bankability of projects. L&T is looking at the Kandla project as a strategic export hub for green hydrogen derivatives. The company has been building a broader clean energy platform spanning green hydrogen and green ammonia. Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel)

Economic Times·4 hours ago·2 min read

Business

Hackers Breached Propulsion System of US-Bound Oil Tanker

FBI and US Coast Guard investigators have found evidence that hackers accessed the propulsion system of an oil supertanker as it was approaching the Texas coast this summer, according to US officials familiar with the matter, an extraordinary breach that highlights the growing physical risks from cyberattacks.

Mint·4 hours ago·1 min read

Business

Senior IAF officer reviews fifth Gen fighter programme in Bengaluru

A senior Indian Air Force (IAF) Officer on Thursday visited various aerospace manufacturing and R&D facilities in Bengaluru to get an overview of the ongoing indigenous programmes and production capabilities. Air Officer Commanding-in-Chief (AOC-in-C) of the Southern Air Command, Air Marshal Jasvir Singh Mann, visited the Aeronautical Development Agency (ADA) and Hindustan Aeronautics Limited (HAL). According to the Southern Air Command, Air Marshal Mann interacted with Amitabh Saraf, PGD (Combat Aircraft) & Director, other senior leadership and reviewed presentations on design and development programmes, including LCA AF Mk-II and fifth-generation Advanced Medium Combat Aircraft (AMCA). He also visited the VR Lab. The ADA will execute the AMCA programme through industry partnership, and three entities, Larsen and Toubro-Bharat Electronics Limited combine, Tata Advanced Systems, and the Bharat Forge-BEML consortium, have been shortlisted for the stealth fighter programme which is expected to be inducted into the IAF in the next decade. At the HAL, the AOC-in-C interacted with Ravi K., Chairman and Managing Director of the PSU and other senior officers. He also visited the LCA Aircraft Division and production facilities and during his meeting with the HAL officials, he emphasised the importance of timely delivery of LCA Tejas Mk1A aircraft to meet the operational requirements of the IAF. There has been a delay in the delivery of the LCA Mk-1A variant to the IAF which has been blamed due to delay in the delivery schedule of GE engines for the indigenous fighter jet. In February 2021, the Defence Ministry signed a ₹48,000 crore deal with the HAL for the procurement of 83 Tejas Mk-1A jets for the IAF. As per the contract, the HAL will manufacture 73 LCA Tejas Mk-1A fighter aircraft and 10 LCA Tejas Mk-1 Trainer aircraft. The delivery of all 83 aircraft was to be completed in eight years from the date of signing the contract. The HAL was to deliver the first three aircraft in the third year, and 16 aircraft per year for subsequent five years.

The Hindu·4 hours ago·2 min read