BUSINESS
Govt restricts import of alloys, chemical compounds containing gold to curb misuse
The import will be allowed for industrial and manufacturing sectors, including electronics, electrical and specialised chemical industry, against an import authorization, thereby addressing the need of the domestic industry without disruption for actual use, the government said in a statement.
BUSINESS
More demand needs to be created for green hydrogen mission to be successful: Report
India can achieve its 5 MMT target through blending, strategic sector selection and leveraging public procurement, Bain & Company, CII and Rocky Mountain Institute say in the report
BUSINESS
India’s non-fossil power generation capacity to touch 50% by December
The milestone will put India in the league of countries like China, Iceland, Norway, Brazil, New Zealand and Denmark, where clean energy capacity is 50 percent or more.
BUSINESS
Tariffs lower than MFN rates of US look difficult for India in the mini trade deal
The mini deal, or a scaled-down version of the first tranche of the Bilateral Trade Agreement (BTA) between India and US, may only focus on securing exemptions from the 26 percent reciprocal tariffs expected to kick in after July 8, along with sectoral levies.
BUSINESS
Govt striving to resolve China’s rare earth import issue for India: Commerce Secretary
'IIndia's diplomatic and commercial communication should yield a positive result on import of rare earth magnets from China,' said commerce secretary Sunil Barthwal.
BUSINESS
Iran-Israel Conflict: Centre to meet shipping stakeholders to assess impact on trade
Nearly two-thirds of India's crude oil and half of the LNG imports pass through the Strait of Hormuz, a narrow waterway which could be at risk in the ongoing Israel-Iran war.
BUSINESS
Hopeful of concluding early tranche of India-US deal before July 9, says commerce secy
For the trade deal with the UK, the process of legal vetting is on and is expected to be completed within three months since the closure of negotiations
BUSINESS
Trade deficit narrows to $21.88 billion in May, shows Commerce Ministry data
On a year-on-year basis, the trade gap in goods in the previous month shrunk versus $22.09 billion in May 2024.
BUSINESS
India to quadruple uranium imports for nuclear energy mission
The imports will be of natural uranium (uranium ore concentrate) and not enriched uranium as India's indigenous Pressurized Heavy Water Reactors can operate with even about 0.7 percent U-235, government officials told Moneycontrol.
BUSINESS
Centre looking to cut turnaround time to set up nuclear power plants by five years
The government is also planning to set up one nuclear power plant in every state that does not fall under the Seismic Zone 5 and may consider the 'fleet mode' in order to ramp up capacity addition.
BUSINESS
India met peak power demand of 241 GW this year: Manohar Lal Khattar
The Union Minister for Power said that in an unprecedented feat, India added its highest-ever generation capacity of 34 GW during 2024-25, with renewable energy accounting for 29.5 GW.
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.
