Author: AsiaOne

On Monday, India’s state-owned firm, Khanij Bidesh India Ltd. (KABIL), signed a joint venture of $24 million with Argentina’s government-owned mining corporation, Catamarca Minera y Energética Sociedad del Estado (CAMYEN), for a lithium exploration pact for five blocks in Argentina.

The Federation of Mines confirmed that under the agreement, KABIL is granted exploration and development rights for commercial production of five lithium mines with a state-run firm in Argentina.

The Indian firm KABIL will begin the exploration and development of five lithium brine blocks: 1. Cortadera-I, 2. Cortadera-VII, 3. Cortadera-VIII, 4. Cateo-2022-01810132, and 5. Cortadera-VI. These blocks span an area of approximately 15,703 hectares. Meanwhile, the project is expected to cost approximately Rs. 200 crore.

KABIL is a joint venture business involving NALCO, HCL, and MECL, which sources minerals like lithium and cobalt from foreign locations.  The primary component of lithium-ion batteries is lithium, which is used in electric vehicles and battery energy storage systems.

Coal and Mines Minister Pralhad Joshi stated that this move would “ensure a resilient and diversified supply chain for critical and strategic minerals essential for various industries in India. Additionally, it will play a crucial role in driving the energy transition for a sustainable future.”

According to PwC’s most recent poll, India was ranked fifth as a preferred destination for investments. Following the US, China, Germany, and the UK, India has climbed four spots from the previous year.

As of 2020, the nation was the fourth-most popular investment destination. However, in 2021, it suffered a drop to the sixth rank, eighth in 2022, and ninth in 2023. As per PwC’s 27th Annual Global CEO Serve, the business leader supports India’s appeal as a favourable investment destination. The nation’s commercial landscape seems promising for 2024.

Global CEOs are taking notice of India’s positive vibes, according to the CEO Survey. They indicate that there will be an increase in the workforce by 5% for the next 12 months, a sharp contrast to 2023 when they had spoken of a planned hiring freeze and headcount reduction. Apart from real estate, sectors like private equity, hospitality, and engineering will also see a rapid increase in hiring.

Despite several challenges, such as a pandemic that negatively impacted businesses across the globe, India’s GDP is expected to expand at a steady rate. Global businesses, in contrast to their optimistic Indian counterparts, are optimistic about the future as well.

The BJP’s flagship health insurance scheme, Ayushman Bharat, has surpassed 30 crore beneficiary cards. The National Health Authority launched the AB-PMJAY (Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana), which offers secondary and tertiary care hospitalisation coverage worth Rs. 5 lakh per household annually.

According to government data, Uttar Pradesh tops the list with the highest number of AB beneficiary cards, with 4.8 crore holders. Madhya Pradesh and Maharashtra are next on the list, with 3.78 crore and 2.39 crore AB beneficiary card users, respectively. It has confirmed more than one crore Ayushman card holders in eleven states as of January 12.

As per the Health Ministry, gender equity is a fundamental component of the scheme’s design, as women have been issued nearly 14.6 crore Ayushman cards.

The Ayushman Bharat PM-JAY card safeguards underprivileged families from the financial burden of illness and has emerged to represent equity and empowerment.

In addition, it has made possible 6.2 crore hospital admissions, saving these families Rs. 1.25 lakh crore in additional expenses. The cost of these treatments would have more than doubled to roughly Rs. 79,157 crores without the scheme’s assistance.