India releases guidelines for production incentives to push solar PV module manufacturing

India’s Ministry of New and Renewable Energy (MNRE) has released guidelines for the production-linked incentive (PLI) scheme in an effort to encourage domestic manufacturing of high-efficiency solar PV modules and reduce import dependence. In November 2020, the government had approved and allocated an amount of Rs 4,500 crore to be spent over a period of five years on […]

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India to roll out National Logistics Policy soon

The Indian government will soon release the national logistics policy that aims to promote seamless movement of goods across the country. Pawan Kumar Agarwal, Special Secretary (Logistics), said the policy is in its final stages and has been developed after wide consultations with all central ministries and other stakeholders. The aim of the policy is […]

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Port trusts and Airports Authority to be kept out of India’s PSE strategic divestment policy

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State-owned public sector units, like major port trusts, Airport Authority of India, those undertaking security printing and minting, will not fall within the purview of the new PSE policy for strategic disinvestment. The new Public Sector Enterprise (PSE) policy for Aatmanirbhar Bharat, which classifies public sector commercial enterprises as strategic and non-strategic sector, would be […]

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India notifies modified scheme on ethanol production to assist distilleries

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The Indian government notified a “modified” scheme to provide financial assistance to distilleries producing first-generation ethanol from feedstocks, including cereals. The assistance will be given for capacity expansion, setting up of new ethanol distilleries or converting molasses-based distilleries to dual feedstock. In a statement, the government said sugar mills, distilleries or entrepreneurs are required to submit an application in a prescribed […]

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India amends its steel policy to boost domestic industry over imports

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The government has amended the policy that provides preference to domestically-manufactured iron & steel products (DMI&SP) over imports in government procurement. By this change, the policy has widened its applicability to every project where the procurement value of iron and steel is above Rs 5 lakh, against Rs 25 crore earlier. The steel ministry also said in […]

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India’s central bank estimates GDP to contract by 8.6% in Q2; enters recession for first time

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India’s GDP is likely to contract by 8.6 per cent for the July-September period, which means India will enter into a recession for the first time in history in the first half of this fiscal with two successive quarters of negative growth due to the COVID-19 pandemic, as per an RBI official reported by the Press Trust […]

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UP government to spend Rs 2600 crore in creating fresh agri storage facility, says chief minister

The government of the Indian state of Uttar Pradesh is slated to spend around Rs 2,600 crore in creating over 5,000 storage units for agriculture produce across the state, Chief Minister Yogi Adityanath told an a conference organised by industry conference CII on Friday. He said improving agriculture infrastructure was a top priority of his […]

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Miners urges government to withdraw curbs on iron ore sale in Karnataka, India

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The community of mining dependents in Karnataka have urged the government to remove restrictions on iron-ore sale from the state, saying it will help create additional one lakh jobs in the mining sector and bring great relief amid COVID-19 crisis. Karnataka Gani Avalambithara Vedike (KGAV), which represents mining dependents, lauded Prime Minister Narendra Modi’s ‘Vocal […]

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