MAM
TV industry may lose Rs 500-600 cr due to demonetisation
MUMBAI: The government’s move to not accept Rs 500 and Rs 1000 currency notes as legal tender may affect the TV industry in a big way.
A recent media report has estimated that the Indian television industry is to suffer a loss of Rs 500 to Rs 600 crore in advertising revenue as fallout of PM Modi’s decision to demonetise close to 86 per cent of liquid cash in the economy.
This is because several advertisers are postponing their campaigns scheduled to air in November and December due to a slowdown in consumer spending, a media buyer informed livemint.com.
As Colors TV CEO Raj Nayak puts it, “There is disruption in off-take of consumer goods & FMCG (fast moving consumer goods) products.” According to a press statement shared by Nayak, the situation is also affecting new businesses as most advertisers are “clueless as to how the market will evolve and respond.”
Dentsu Aegis Network South Asia chairman and CEO Ashish Bhasin feels that the reason for the cut back on the marketing spends could be the impact on sales that the demonetisation has had on the FMCG products.
Typically, the October-December quarter is the most active quarter accounting for almost 30 to 40 percent of annual billing in terms of advertising spends. With how things are, that is unlikely to be the case this year, a worried Bhasin said.
ALSO READ: Demonetisation: Housing, online payment gung-ho; others find solace in India’s larger interest
Brands
Trump announces $300bn Texas oil refinery with Reliance, calls it the biggest in US history
First new US refinery in 50 years planned at Brownsville port with Reliance
WASHINGTON: The United States may soon see the first brand-new oil refinery built on its soil in half a century.
Donald Trump announced a proposed $300 billion refinery project in Texas, calling it a landmark moment for American energy production and jobs.
Posting on Truth Social on 10 March, Trump said the facility would be built at the Port of Brownsville and developed by a company called America First Refining, with major investment from India’s Reliance Industries.
The announcement frames the project as a centrepiece of the administration’s push for “energy dominance”, with Trump claiming it would deliver thousands of jobs and billions of dollars in economic activity to South Texas.
If realised, the plant would mark the first all-new major refinery constructed in the United States since the 1970s. In recent decades, oil companies have largely chosen to expand existing facilities rather than build new ones, citing high costs, regulatory hurdles and environmental scrutiny.
Trump described the proposed investment as the “biggest in US history”, positioning it as proof that policy changes such as streamlined permits and lower taxes are drawing large-scale energy investments back into the country.
The refinery is planned for the Port of Brownsville, a strategic Gulf Coast location that provides easy access to shipping routes and export markets.
A key partner in the project is Reliance Industries, controlled by billionaire industrialist Mukesh Ambani. The company already runs the world’s largest refining complex in Jamnagar, India, making it one of the most experienced operators in large-scale petroleum processing.
The Texas venture would mark a significant step for the group into America’s domestic refining sector, potentially strengthening industrial ties between the US and India.
The proposed refinery is being promoted as a next-generation facility capable of processing American shale oil while maintaining high environmental standards. Trump said it would be “the cleanest refinery in the world”, although the specific technologies behind that claim have not yet been detailed.
Industry observers also note that the $300 billion figure is unusually large for a refinery project, and analysts are waiting for more clarity on whether the number reflects total construction costs, long-term infrastructure investment, or broader economic impact estimates.
As of 11 March, Reliance Industries had not publicly confirmed the investment size or the structure of its involvement.
For now, the announcement has sparked equal parts excitement and curiosity in energy markets. If the plan moves from promise to pouring concrete, the refinery could reshape the Gulf Coast energy landscape, and reopen a chapter in American refining that has been quiet for nearly fifty years.
