BUSINESS
India announces Rs 5,400 crore funding scheme to build 30 GWh battery energy storage
The Central Electricity Authority (CEA) has estimated that India will need 37 GWh of BESS capacity by 2027, and 236 GWh by 2031-32. With the new VGF announcement India is poised to achieve a BESS capacity of 43.2 GW by 2027-28.
BUSINESS
India spent $100 billion on clean energy in 2024, China $627 billion, say IEA
India looks set to reach its 2030 target of 50% non-fossil generation capacity ahead of schedule. There has been a surge in investment in renewables, led by solar PV, IEA has said in a report
BUSINESS
`Mini deal,' major stakes: India, US trade talks resume, may cover defence, auto
India is likely to allow increased imports of energy products, edible oils, automobiles, and defence equipment, among others, in order to slash the looming Trump tariffs.
BUSINESS
Govt relaxes SEZ norms for manufacturing chips, electronic components
The minimum land required for setting up a factory has been reduced to 10 hectares from 50 hectares in special economic zones for semiconductors and electronic components and to 4 hectares from 20 in multi-product SEZs
BUSINESS
Important to show the world EU and India believe in free trade, not trade wars: French minister for foreign trade
Meanwhile, India has sought consultations with the United States (US) at the World Trade Organisation (WTO) on tariff increase of 25 per cent on imports of passenger vehicles (PVs) and light trucks, and on certain automobile parts.
BUSINESS
India is using only 20% of its 20 GW annual wind turbine manufacturing capacity: Suzlon Group CEO
At the current pace, I believe we will be able to reach 85-90 GW against the 100 GW target by 2030, which would also be a decent achievement, said JP Chalasani, CEO, Suzlon Group.
BUSINESS
India rolls out tweaked electric car manufacturing scheme, offers tax cuts against local production commitment
The scheme will now allow companies to import a limited number of electric cars at a lower import duty of 15 percent, if they commit to investing Rs 4,150 crore to manufacture electric passenger cars in India within three years from approval.
BUSINESS
India-Chile conclude first round of trade talks in New Delhi
The next round of negotiations is expected in July-August, 2025. India and Chile aim to conclude their trade negotiations for a Comprehensive Economic Partnership Agreement (CEPA) by 2026.
BUSINESS
Govt may extend PLI scheme deadline for solar module projects
Visa issues for Chinese technicians, supply chain disruptions, and slow technology transfer have hampered progress under the Production Linked Incentive scheme for solar modules.
BUSINESS
‘India doesn’t comment on internal matters’: Piyush Goyal on US tariff row, says India-US trade deal ‘well on track’
On May 29, a federal appeals court temporarily reinstated President Donald Trump's tariffs.
BUSINESS
Next round of India-US trade talks on June 5-6 in New Delhi
Earlier in the day, India's chief negotiator, Special Secretary in the Department of Commerce Rajesh Agrawal, said the talks are progressing well.
BUSINESS
Electricity prices crash to zero on exchanges as cooler weather cuts May power demand
With the monsoon arriving sooner, the Ministry of Power plans to reassess its peak power demand projections for this year, which are currently pegged at 270 GW.
BUSINESS
Record domestic production cuts India's coal import by 8% in FY25, saving $7.93 billion in forex
The lower coal import for FY25 has also resulted in foreign exchange savings of approximately $7.93 billion or Rs 60,681.67 crore for the fiscal.
BUSINESS
Amid tariff turmoil, FIEO says businesses targetting export of goods and services worth $1 trillion in FY26
To boost exports, Centre had on May 26 restored the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme benefits for SEZs and other export-centric hubs, with effect from June 1.
BUSINESS
Resonia betting big on power transmission, to invest Rs 1 lakh crore by FY32: Chairperson Pratik Agarwal
Sterlite Electric expects a turnover of about Rs 6,500 crore in FY26 and plans to double in the next three to four years by expanding into high-end cable manufacturing, Agarwal has said
BUSINESS
Coal ministry surpasses asset monetisation target by Rs 63,000 crore
The record numbers indicate renewed confidence in the coal sector as the Indian government seeks to ensure energy security for the country through thermal power till the time firm renewable energy becomes affordable.
BUSINESS
Electricity trade between India-Bangladesh to continue amid other curbs
At 2.5 GW, Bangladesh is the biggest electricity export market for India as of now. Not just that, the neighbouring country uses India’s power grid to import electricity from Nepal.
BUSINESS
Adani, Tata, Vedanta make a power play for coal-fired projects after five-year lull
The government expects Rs 6.67 lakh crore investment in thermal power by FY32 as firms rush to meet rising demand.
INDIA
Jal Jeevan Mission: Govt's tap water scheme to be completed by 2028, says Minister Patil
Patil said the biggest challenge under the mission is about purity of water
INDIA
'Hard to call it river’: CR Patil slams state of Yamuna in Delhi, sets 3-year goal for drinkable water
Patil said that after the Bharatiya Janata Party (BJP) won the Delhi Assembly elections, Prime Minister Narendra Modi convened a meeting to discuss cleaning of the river
BUSINESS
JSW Energy Q4 net profit rises 16% to Rs 408 crore; increases power generation target to 30 GW
The company unveiled 'Strategy 3.0' targeting 30 GW of generation capacity by 2030 along with 40 GWh of energy storage, up from the previous goal of 20 GW generation capacity.
WORLD
EAM Jaishankar says IWT in abeyance till terror stops, after Pakistan seeks talks on water pact
The only thing to be discussed on J&K is the vacating of illegally occupied territory by Pakistan, and India is open to that discussion, External Affairs Minister S Jaishankar said on May 15.
BUSINESS
Tata Power open to investing in thermal power again, says CEO Praveer Sinha
Tata AutoComp Systems will manufacture batteries and provide them to Tata Power, which will execute all renewable energy power projects with battery energy storage systems, Tata Power CEO and MD Praveer Sinha told Moneycontrol.
WORLD
Operation Sindoor: Crude oil rules India’s trade with Azerbaijan
India's crude oil imports from Azerbaijan fell to $733.09 million in 2024, as per UN Comtrade data. Despite the drop, Azerbaijan remains a key player in India’s diversified energy sourcing strategy.
