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GVK Reddy shares his thoughts on the India-UAE trade agreement

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  India and the United Arab Emirates have committed to increase bilateral trade to $100 billion by 2030, resulting in the creation of millions of new jobs. The two countries’ complete free trade agreement is expected to benefit around USD 26 billion in domestic products such as diamonds and jewellery, which are currently subject to a 5 per cent import fee by the Gulf country. GVK Reddy agrees with the broad contours of the agreement and fervently elaborates how it will fulfil the aim of increasing bilateral merchandise trade in the coming years. On February 18th, 2022, India and the United Arab Emirates signed the Comprehensive Economic Partnership Pact, or CEPA, marking the Indian government’s first free trade pact since 2014. GVK Reddy informs, “The deal was completed in a record-breaking 88 days, and it will go into effect in May, 2022. Between the two countries, non-oil trade will more than double in five years from $45 billion in 2021 to $100 billion.” The CEPA between India a...
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GVK Reddy opines about the impact of Omicron on the Hospitality And Tourism Industry

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  Dr. GVK Reddy shares insights on Omicron’s devastating effects on the hospitality and tourism sectors of India. In addition to the massive impact the COVID-19 pandemic had on India’s various sectors, the new coronavirus variant – omicron is also shaking them. No sector is spared from the effects of this pandemic. In all areas of shopping, dining, and eating to travel, aviation, and trading, people are experiencing a dread about the renewed restrictions. Dr. GVK Reddy shares insights on Omicron’s devastating effects on the hospitality and tourism sectors of India. As a result of the spread of Coronavirus’ new variant, Omicron, the stock prices of the hospitality industry, travel services, entertainment industry, and many others started falling. There is a concern among investors who invested in these sectors that a new lockdown will be imposed by many countries. And India might not just remain immune. Industries that have yet to recover from their earlier losses will be adversely ...
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Bringing Electric Vehicles on India’s Road: Dr GV Krishna Reddy talks problems, potential and possibilities

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  As the Founder and Chairperson of GVK Group which operates in the energy sector, Dr GVK Reddy offers crucial insights into the industry’s present position and future path. With the launch of FAME India (Faster Adoption and Manufacturing of Hybrid and Electric vehicle) scheme in 2015, the Union Government signaled the overhaul of the Indian vehicle space with the adoption of Electric Vehicles (EVs). Since then, the shift towards EVs has been underpinned by the colossal dependence on fossil fuels to satisfy the consumption demands. Dr GVK Reddy  puts this into perspective, “In the year before FAME initiative was taken up by the government, India’s import of crude oil stood at $112 billion for 2014-15. In addition, India is also the second-largest importer of coal in the world.” . Given India’s commitment to curb its CO2 emissions by 2030, there is a surge in investments and promotion of EVs to replace the present predominant ICE (internal-combustion engine) driven vehicles on ...
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Responsible Tourism amid Covid: GVK Reddy urges for wariness amongst Travellers of the Country

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  Amidst tour packages’ misinformation spreading like wildfire, lockdown restrictions of countries changing by the minute or wrong choice of travel accommodation that might go against all your other safety precautions, Chairman of GVK Group, GVK Reddy suggests ways to safe travel for fellow Indian travel enthusiasts. By the beginning of the pandemic in India, in 2020, a  s udden restriction on travel was one change that the country had rarely seen before. As the lockdown restrictions were slowly relaxed later, travellers and enthusiasts alike were soon seen making the most out of their work from home settings to take Staycations and breather trips. Soon enough however, situations deteriorated again as the pandemic cases shot up in the country like never before, imposing a total ban on movement whilst also sealing borders that won’t let travellers in. For a large part of the year, travelling activities came to a halt and soon enough so, travelling started to look like a distant...
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Dr. GVK Reddy interprets the government efforts in revival of the hospitality sector from the blows of Covid

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  Hospitality has been one of the industries that have received the hardest blows of COVID-19. Hospitality has been one of the industries that have received the hardest blows of Covid 19. Sustaining their costs through travellers and tourists alone – the pandemic had quickly and unexpectedly blocked their only source of sustenance, leaving the industry in a gloomy state of depletion and drop. If we draw back to 2020, Hospitality was one sector along with tourism, travel or retail that directly froze with the imposed lockdown in the country. Travelling was not as common anymore, and on the other end, the entire working setup was shifted to digital means, curtailing the need for professionals to travel for corporate meetings or business trips. Amid the colossal wreck of its economy with the first wave of Covid, the Indian Hospitality sector witnessed a massive drop of 38.7 % in Revenue based on its Per Available Room. Dr.  GVK Reddy  assesses this recession in the hospitali...
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National Electricity Policy Draft 2021 is an ambitious initiative, feels Dr. GVK Reddy

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  C hairman of the GVK Group, Dr. GVK Reddy assesses the strengths of the new and promising Electricity Draft, underscoring the interest of the nation through a series of suggestions and unveiling the possible challenges that lie ahead of it. What is the National Electricity Policy Draft It is an ambitious government initiative that aims to accelerate the power infrastructure of the country, creating a sustainable power highway that makes electricity accessible to every pocket in the country. More electricity genera t ion & supply and the extended use of renewable power sources are at the core of the project. Of late in 2021, two months after the project was announced, the Ministry of Power, India set up a bench of experts to formulate and map this new strategy. The panel comprises an amalgamation of members from the various state governments, The NITI Aayog, Central Electricity Authority and the Ministry of New and Renewable Energy. The former Chairman of the Central Electrici...
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GVK Reddy Talks About Prospects Of Maritime Sector Being The Next Big Beneficiary Of Ocean Thermal Energy

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  Handling the climate change crisis is the real need of the hour. As the world faces unprecedented extremes of weather and the threat of Antarctic ice caps melting, we simply cannot look away. Founder and Chairman of GVK Group, Dr. GVK Reddy states, “It is high time we start taking better care of our planet, being kinder and more prudent with our limited resources before it is too late. The first step to sustainable practices is clean energy.” One of the latest development in the renewable energy sector that has grabbed quite some attention is Ocean Thermal Energy. Un d erstanding Ocean Thermal Energy Ocean thermal energy is harnessed from thermal gradient of the ocean, which is the difference of temperature between the warmer surface and colder deep waters. The technology and the process by which this form of energy is produced is known as Ocean Thermal Energy Conversion or OTEC. It pumps the warmer water through an evaporator containing a working fluid. The vaporized fluid, thus...
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