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Indian Oil Corporation Limited (IOCL) is inviting applications for its apprenticeship programme

Kolkata, In a bold move to diversify its operations and integrate further into the value chain, <keyword id="45383" type="General" weightage="80" keywordseo="coal-india" source="Orion">Coal India</keyword> Limited (CIL) is targeting the acquisition of lithium, cobalt, and nickel assets abroad. The company has recently amended its Memorandum of Association (MoA) to include non-ferrous and critical minerals, indicating its commitment to expand its presence in new sectors. In the past, the miner's attempt to acquire coal assets aboard did not fructify. In its pursuit of overseas assets, CIL is currently identifying suitable opportunities for mergers and acquisitions, the management informed its shareholders in its latest annual report. The strategic move reflects the company's vision to secure a steady supply of these critical minerals toward the Atmanirbhar mission of India. In 2022, the Ministry of Mines also created a joint venture company, Khanij Bidesh India Ltd (KABIL), with participating interest from NALCO, Hindustan Copper Ltd and Mineral Exploration Corporation Ltd (MECL). KABIL is mandated to identify and acquire overseas mineral assets of critical and strategic nature such as lithium, cobalt, etc. In the past, NMDC and Coal India were considered for participation in the special purpose vehicle (SPV). Highlighting capex plans, Coal India stated that it has proposed a capital expenditure of Rs 16,600 crore in 2023-24. "As part of our investment plan, we have strategically allocated a substantial amount towards diversification projects including ventures such as solar power, thermal power plants, revival of fertilizer plants, surface coal gasification, coal bed methane and others. "With a focus on acquisitions and JVs, we seek to venture beyond our core competencies, tap into emerging opportunities and manage associated risks effectively," Coal India informed its shareholders. In 2022-23, the capital expenditure of CIL registered a phenomenal growth of 20.90 per cent to Rs 18,619 crore. Coal India chairman <keyword id="7940615" type="General" weightage="50" keywordseo="p-m-prasad" source="Orion">P M Prasad</keyword> said CIL has executed three Memorandum of Understanding (MoU) with BHEL, GAIL India Limited, and IOCL for undertaking coal-to-chemical business using surface coal gasification, which is proposed to be implemented jointly through JV companies. Coal India has also signed two MoU for its foray into the thermal power business. The first is for a joint venture between <keyword id="1365399" type="General" weightage="50" keywordseo="south-eastern-coalfields-limited" source="Orion">South Eastern Coalfields Limited</keyword> (SECL) and Madhya Pradesh Power Generating Company Limited (MPPGCL) to implement a 1x660 MW Supercritical thermal power station replacing the retired generating units situated at the existing premises of MPPGCL's <keyword id="1472730" type="General" weightage="50" keywordseo="amarkantak-thermal-power-station" source="Orion">Amarkantak Thermal Power Station</keyword>, Chachai, district Anuppur, Madhya Pradesh. The other initiative is setting up of 2x800 MW Supercritical thermal power plant in Odisha, through Mahanadi Basin Power Limited (MBPL), a wholly-owned subsidiary of Mahanadi Coalfields Limited (MCL). MoU between CIL and Assam Power Distribution Company Limited (APDCL) was executed for the purchase of 1,200 MW from the proposed MBPL Power Plant. CIL has also established joint ventures (JVs) with prominent entities such as the National Thermal Power Corporation (NTPC), Indian Oil Corporation Limited (IOCL), Gas Authority of India Limited (GAIL), and Rashtriya Chemicals and <keyword id="5270214" type="General" weightage="50" keywordseo="fertilisers-limited" source="Orion">Fertilisers Limited</keyword> (RCF). These partnerships aim to mitigate technological and financial risks associated with diversification projects, while also leveraging the expertise of its business partners, the dry-fuel miner said.

Coal India embarks on overseas acquisition of critical mineral assets

NIFTY 50: What it means and the companies covered under this index

<ul><li>The world is at the cusp of a lasting change that most people are not prepared for.</li><li>Questions about the future of work should not stop at what jobs will still exist at the end of this decade.</li><li>What we need to know is how to get ourselves up to speed with the changes around us.</li><li>To answer those vexing questions about the future unravelling in front of us, Business Insider is bringing together some of the world’s most insightful and influential voices as part of a virtual summit.</li><li>Register and engage with the folks who are actively shaping the future for all of us.</li></ul>The year of 2021 is, probably, the best year to sit back and wonder about the future of work. Almost half of the world’s workforce is working from home, and a quarter has given up hope of ever going back to office. The world is also at the cusp of an automated and Artificial Intelligence and Machine Learning driven future is being tried and tested now. This would be one of the discussion points at the Future of Work event organized by Business Insider on September 16-17, 2021. <cmsannotation type="cmsannotation" annotationid="New jobs, new skills" comment="subhead" text="New jobs, new skills">New jobs, new skills</cmsannotation> A glimpse of the future also brings with it — the fear of job losses as the <keyword id="69007" type="ORGANIZATION" weightage="20" keywordseo="World-Economic-Forum">World Economic Forum</keyword> has predicted that automation will take away 75 million jobs by 2022. Yet, the Future of Work report predicts that new opportunities like digitization may add 133 million jobs. While self-driving cars and trucks are threatening to dump the driver, the evolution of technology offers an opportunity for engineers to thrive. But the driver can’t take the techie’s job. Similar disruptions are visible everywhere from airports to restaurants, from public utilities to high finance and law where apps and bots are ready to replace ⁠— if not replaced already ⁠— the traditional workforce at least partially. That would also mean a large chunk of the workforce will have to develop new and better skills, quickly and efficiently. These changes would affect the entire workforce including the top brass to the entry level employees. “Leaders must also ensure that everyone in the organization understands the importance and necessity for employee-driven continuous learning and have the requisite processes in place to encourage and allow for that. The future organization needs a mix of employees that continuously learn and a source of talent with specific skills that’s available on demand,” said Tony Saldanha, former vice president of Procter &amp; Gamble in the report Future of Work by Talent Alpha. The first phase of work-from-home has already shown us some of the challenges. “The playbook for remote leadership is still a work in progress. Both ‘earning the trust’ and ‘keeping the faith’ are going to get as tough as imperative. There is an opportunity to redefine professional relationships in a way the inspirers will excel more than the taskmasters. And communication will form an integral part of this process. It is not enough for leaders to know their core teams and cliques that get work done. Every cog in the corporate wheel must feel acknowledged and appreciated. This has the potential for a cultural revolution in workplaces. Every remote manager, irrespective of his or her rank, will need the skill and maturity that was once expected of the CEO of a multinational corporation. This kind of managerial talent will be rare and, hence, will command a premium,” Sriram Iyer, the Editor-in-Chief of Business Insider India, said during the Global Trends Festival last year. <cmsannotation type="cmsannotation" annotationid="Gigs, chips and laws" comment="subhead" text="Gigs, chips and laws">Gigs, chips and laws</cmsannotation> A large number of these new-age jobs might come without baggage of traditional jobs like long commutes and rigid hours, as they could be in the form of gigs. Big techs like Google are also heralding the trend of ‘shadow workforce’ where they have more temporary and contract workers than actual employees, as per the report. Remote working will test the capacity for trust for both organizations and leaders. As per the report, a Swedish startup has implanted all its employees with microchips, and another tech firm is looking for legalities that can allow it to do so. However, few employees around the world might condone this, as worries of data usage are already spreading fast and wide. The workforce in a hyperconnected world can also need to adapt with competencies to handle gig jobs and develop skills that can differentiate them from robots and algorithms. “We need to take active ownership, make decisions and take the lead; because it’s our ability to think on our feet, be agile and street smart that really differentiates us from our digital counterparts. So the valuable skills are - our cognitive capacity for courage, creativity and sociality,” says AdeMcCormack, advisor to Fortune 500 companies, in the report. <cmsannotation type="cmsannotation" annotationid="The case for welfare" comment="subhead" text="The case for welfare">The case for welfare</cmsannotation> The rapid changes in the way organizations transform and workforce adapts also shifts the balance of power. A new law by California legislation says that tech companies and others are not providing employees with basic protection like minimum wage, sick leaves, paid leaves and health insurance for drivers, delivery personnel and more such. Many companies will have to revisit their business model that had not factored in welfare as an expense. The question is can we smoothen this inevitable transition and how do we make it acceptable to a large population that not only stands to lose the most but has the least power to sustain through this shift. The new age workplace is also quite different and much more diverse, with a better mix of genders, pay parity, flexibility and work-life balance. All in all, the workplace is hurtling towards an ideal situation --- which is a transformative change in itself. Before that however sustainable solutions need to be evolved. Some such voices could be heard at the Business Insider Future of Work event from experts across industries who will debate how, when and how much we all work in the years to come. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/iocl-is-inviting-applications-for-its-apprenticeship-programme/articleshow/85390400.cms">Indian Oil Corporation Limited (IOCL) is inviting applications for its apprenticeship programme</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/a-third-of-internet-users-would-be-actively-shopping-online-by-the-end-of-this-decade-offline-retail-to-take-a-back-seat/articleshow/85390712.cms">A third of internet users would be actively shopping online by the end of this decade, offline retail to take a back seat</a>

Future of Work ⁠2021 ⁠— meet top decision makers at the forefront of shaping a new era for jobs and leadership

<ul><li>India’s central <keyword id="182472" type="CITY" weightage="20" keywordseo="Public-sector-enterprises">public sector enterprises</keyword> will exist only in ‘strategic sectors’ where the government role will be important.</li><li>The Narendra Modi government has decided to use the COVID-19 crisis to merge or privatise many of these and expose them to private competition. </li><li>There are 339 public sector enterprises in India.</li></ul>There are 339 public sector enterprises in India and often at the receiving end of the argument that the ‘government has no <keyword id="6355515" type="UNKNOWN" weightage="20" keywordseo="business">business</keyword> being in business’. However, the Narendra Modi government has decided to use the COVID-19 crisis to merge or privatise many of these and expose them to private competition. India’s central public sector enterprises will exist only in ‘strategic sectors’ where the government role will be important. But there will be two different sets. Here’s how it will work. <ol><li>In one set, there will be at least one central public sector company which will compete with private players. </li><li>In the second set, there won’t be more than four public sector enterprises and private players will be allowed. </li></ol>“If there are sectors where there are too many government companies, they will be brought together in such a way that there won't be more than four. A detailed policy will soon be issued,” Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> said but stopped short of mentioning what these sectors will be. <a href="https://dpe.gov.in/about-us/divisions/list-maharatna-navratna-and-miniratna-cpses">Here’s the list of total of all the central public sector enterprises in India.</a> These are the list of Maharatna <keyword id="44880" type="CITY" weightage="20" keywordseo="PSUs">PSUs</keyword> in India <ul><li>Steel Authority of India Limited (SAIL)</li><li>National Thermal Power Corporation ( NTPC)</li><li>Oil and Natural Gas Corporation (ONGC)</li><li>Bharat Heavy Electricals Limited (BHEL) </li><li>Bharat Petroleum Corporation Limited (BPCL)</li><li>Hindustan Petroleum Corporation Limited (HPCL)</li><li>Indian Oil Corporation Limited (IOCL)</li><li>Power Grid Corporation of India (POWERGRID)</li><li>Gas Authority of India Limited (GAIL)</li><li>Coal India Limited (CIL)</li></ul>As of March, 2019 the net worth of all CPSEs in India stood at ₹12.08 lakh crore. The government has already begun the process of privatisation of several public companies. Air India – the government-owned airline – has been on the block for a while now. Aside from this, there are also pending proposals to sell the central government stake in companies like BPCL, Industrial Development Bank of India (IDBI), and Container Corporation of India (Concor). It is not clear as of now whether the new reforms will affect these decisions. During the budget announcements in February 2020, the Indian government had set a target of gaining ₹2.1 lakh crore from disinvestments by FY21. This is even after in the previous financial year, the government had to revise its targets from ₹1.05 lakh crore to ₹65,000 crore. An <a href="https://economictimes.indiatimes.com/news/economy/finance/dipam-may-look-at-sale-of-smaller-cpses-to-meet-fy21-disinvestment-target/articleshow/75323885.cms">ET report</a> had quoted an official from the Department of Investment and Public Asset Management (DIPAM) who said that the government is looking at the “option of strategic sale of smaller CPSEs to their sector counterparts.” See Also: <a href="https://www.businessinsider.in/education/news/top-100-universities-to-go-online-tv-channels-for-students-special-content-for-visually-and-hearing-impaired/articleshow/75785494.cms">100 universities to go online, TV channels for students, special content for visually and hearing impaired - India's big boost for education during Covid-19</a> <a href="https://www.businessinsider.in/finance/news/india-puts-a-pause-on-new-bankruptcy-cases-for-a-year-and-other-changes-that-will-cap-the-rise-in-bad-loans/articleshow/75785508.cms">India puts a pause on new bankruptcy cases for a year ⁠— and other changes that will cap the rise in bad loans</a> <a href="https://www.businessinsider.in/science/health/news/india-to-increase-expenditure-on-health-will-set-up-public-health-labs-at-block-levels-in-all-districts/articleshow/75785483.cms">India to increase expenditure on health — will set up public health labs at block levels in all districts</a>

India will reduce the number of central government companies⁠— some of them will get bigger and some will be sold to private players

<ul><li>The <keyword id="6356955" type="LOCATION" weightage="20" keywordseo="united-states">United States</keyword> will reimpose sanctions on <keyword id="41896" type="COUNTRY" weightage="20" keywordseo="Iran">Iran</keyword> come November 5 but will exempt eight countries, including <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>, from the penalty.</li><li>That being said, the waiver is only temporary with the aim of stabilizing global oil prices. </li><li>While the pressure campaign may be reduced Iran oil exports, India is importing more oil from the OPEC nation now as compared to 2011 levels.</li></ul>The sanctions imposed by the United States may be hard on India’s current account deficit, but at least the pressure to find an alternate crude oil supplier has been eased. The United States has agreed to let India, as well as seven other countries, <a href="https://www.bloomberg.com/news/articles/2018-11-02/u-s-said-to-give-eight-nations-oil-waivers-under-iran-sanctions">continue to buy oil from Iran</a> even after it reimposes sanctions on November 5. And while that may be true, it’s only temporary. So, essentially, it should be treated as an extension to the deadline that’s already been placed. This is good news for the rising petrol and diesel prices in India. Since the sanctions hit, taxi drivers, rickshaw operators and even petrol pumps have gone on <a href="https://www.business-standard.com/article/current-affairs/few-cabs-and-little-fuel-twin-strikes-hit-commuters-hard-in-delhi-118102300039_1.html">strike</a> to protest the sudden inflation. A senior administration official in the know stated that it was important to do so international oil prices don’t inflate even further. He added that the Michael Pompeo, the United States Secretary of State, will be confirming the waivers and the number of exemptions later this week. While four countries have been identified — India, China, Japan and South Korea — the other four are yet to be disclosed. United States’ pressure campaign The aim of the United States is to cut off Iran’s revenue stream from trade entirely. So, while oil is their main export, President Donald Trump is also asking countries to reduce trading in other goods as well, that aren’t covered by the sanctions. So far the pressure campaign against Iran has managed to <a href="https://www.houstonchronicle.com/business/energy/article/Iranian-oil-exports-fall-to-1-6-million-barrels-a-13309081.php">drive down</a> their oil exports from 2.7 million barrels a month to 1.6 million barrels a month. That being said, India’s imports from Iran have increased to 800,000 barrels a day as of July 2018, which is well above the levels of 2011. But, change is on the way with the primary players in the oil sector, like Reliance Limited and the Indian Oil Corporation Limited, <a href="https://in.reuters.com/article/india-iran-reliance/exclusive-reliance-to-halt-oil-imports-from-iran-sources-idINKCN1IV1XR">looking to pull out</a>. They say that efforts to stay engaged with Iran are getting more complicated and transactions will have to cease. The impact can be observed with Iranian oil imports have already reducing between July and August. Experts <a href="https://www.cnbc.com/2018/09/07/india-may-not-be-able-to-cut-iranian-oil-imports-despite-us-sanctions-demands.html">speculate</a> that cutting oil imports from Iran might not be so easy for India as the world third-largest oil importer and the second-largest buyer of crude oil from India.

India among the eight countries allowed to continue buying oil from Iran even after the US reimposes sanctions — But there’s a catch

As the first phase of placements at IITs comes to a close, trends highlight a lot about how India's premier institutes fared in this recruitment season. 
 
While several big ticket companies stayed off campuses and international offers took a hit this time, the younger IITs had the last laugh as they fared much better than the older ones in terms of salaries and international offers to students. A lot of other interesting points came out. 
 
Here's all you need to know about the IIT placements that just concluded: 
 
Number of job offers dwindled 
These are mostly the older IITs like Kharagpur and Kanpur which have registered a significant slump in recruitments. At IIT-Kharagpur, the number of offers came down to 1,080 from 1,300 in 2016 while IIT-Kanpur saw the number fall to 725 from 800. IIT Roorkee made an exception - the number of recruiters visiting the campus was up to 243 from last year's 180 while the total number of offers were almost the same as last year, at about 680. The reason for this is being seen as: 
 
Offers per company saw a decline At IIT-Mumbai, Madras and Guwahati, the number of total offers went up, but offers per company were fewer than previous years. Large recruiters like Coal India, <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> and <keyword id="6361649" type="CITY" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> were particularly conservative in handing out letters. At <keyword id="57604" type="CITY" weightage="20" keywordseo="iit-delhi">IIT Delhi</keyword>, average number of offers from each recruiter was down by about 15 per cent compared to last year. 
 
Many companies like Boston Consultancy Group, Goldman Sachs and Microsoft, which had hired in huge numbers from the campus last year, radically cut the number of recruits. Several opted for pre-placement offers instead of coming to the campus and holding interviews. Those students who had already joined them as interns were given full-time placement offers. 
 
Top recruiters stayed off IIT campuses At IIT Roorkee, officials blamed the absence of bigtime recruiter <keyword id="6355629" type="CITY" weightage="20" keywordseo="Google">Google</keyword> for the total number of offers going down to 700 from 2015's 740. Google chose to hire off-campus. <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, after its strained relations with IITs for deferring campus offers in the previous placements, was nowhere to be seen this time around. <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> stayed off-campus too. 
 
Top offers not too high Not many croreplus packages were handed out this time. The number fell by more than 50 per cent since 2014. Plunging international offers from US firms and the likes of <keyword id="6354576" type="CITY" weightage="20" keywordseo="Facebook">Facebook</keyword> and Google going off-campus is being seen as the reason behind this. Moreover, Cost to company among the international offers made by companies like Oracle barely crossed Rs 1.2 crore this year (inclusive of bonuses and stock options) compared to Rs 2 crore-plus in 2014. 
 
Newer IITs had the last laugh Newer IITs saw an increase in top as well as average salaries. <keyword id="666989" type="ORGANIZATION" weightage="20" keywordseo="IIT-Indore">IIT Indore</keyword>, Ropar and Mandi received their first international offers this year, with salaries touching as high as Rs 40 lakh a year. At IIT Hyderabad, there were 16 offers for international positions. At <keyword id="642435" type="ORGANIZATION" weightage="20" keywordseo="IIT-Mandi">IIT Mandi</keyword>, four students got international offers from a Japanese company. An IIT student Patna bagged an international offer of Rs 35 lakh. The highest salary at IIT Indore increased from Rs 28 lakh last year to more than Rs 30 lakh, at Hyderabad it increased by Rs 4 lakh to Rs 38 lakh. Also, one of the big recruiters at IITs, Amazon, was seen visiting 17 IITs including the young ones in Indore, Jodhpur and Bhubaneswar this year. 
 
PSUs made a stunning comeback 
Public sector units returned to the IITs post the ban on PSU hiring from campuses was lifted. Companies like Coal India, Indian Oil Corporation Limited, and Bharat Petroleum visited colleges early in the placement season. For the first time, IIT Delhi, Madras and Roorkee gave day 1 slots to PSUs and the companies obliged by offering double digit salaries to students in the first two weeks of placements.

You Searched For "Indian Oil Corporation Limited" and got 7 results

Indian Oil Corporation Limited (IOCL) is inviting applications for its apprenticeship programme

Vaamanaa Sethi

Coal India embarks on overseas acquisition of critical mineral assets

PTI

NIFTY 50: What it means and the companies covered under this index

BI India Bureau

Future of Work ⁠2021 ⁠— meet top decision makers at the forefront of shaping a new era for jobs and leadership

BI India Bureau

India will reduce the number of central government companies⁠— some of them will get bigger and some will be sold to private players

Sanchita Dash

India among the eight countries allowed to continue buying oil from Iran even after the US reimposes sanctions — But there’s a catch

Prabhjote Gill

Top offers not too high; number of jobs dwindled: Here's all that happened at IITs as they wrap up first phase of placements

Anushree Singh

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