INDIA GREEN ECONOMY
NexGen Energia plans to invest Rs 15,000 cr over 10 yrs to open 5,000 green diesel, CBG pumps
NexGen Energia plans a Rs 15,000 crore investment to establish 5,000 green diesel and CBG pumps across India over the next decade. The initiative aims to reduce fuel imports by 30% and create jobs for 10 lakh people. The company also expands into electric vehicles with affordable two-wheelers and upcoming electric trucks and buses.
MNRE issues incentive guidelines for green hydrogen producers under SIGHT scheme
Solar Energy Corporation of India (SECI) is the implementing agency for this tranche as well. The Request for Selection (RfS) shall be issued by SECI shortly. The bidding shall be based on the least average incentive quoted by the bidder. The minimum bid under bucket-I is 10,000 TPA while the maximum bid is 90,000 TPA.
India's solar output grows at slowest pace in six years in first half of 2024
Solar power generation in the third-largest producer of electricity from the sun rose to 63.6 billion kilowatt-hours (kWh) in the first half of 2024, the data showed, up 14.7% compared with the same period last year and 18.5% in the calendar year 2023. The world's fastest growing major economy has prioritised coal to address a surge in power demand in recent years.
Modi's message from Parliament on business and economy
Though PM Modi stressed his government's social agenda, he also confidently underlined the policy continuity. Speaking in the Rajya Sabha today, he said not only the markets are upbeat but the global community too is glad at the return of his government and is willing to raise its bet on India.
India economy likely to sustain high growth trajectory: ITC
Indian conglomerate ITC predicts the Indian economy will sustain its high growth trajectory in FY2024-25 due to strong momentum in fixed investments and private consumption. The growth is supported by a good Rabi harvest and normal monsoons. Factors like a favorable demographic profile, increasing affluence, rapid urbanisation, and accelerated digital adoption are key structural drivers of the Indian economy.
Bharat Forge's Amit Kalyani on what's wrong with India's EV model and whether green hydrogen is the silver bullet
The London session emphasized innovative EV approaches, green financing, and electrification for energy transition. It celebrated the London Stock Exchange's role in supporting Indian companies and capital flows, showcasing financial expertise for India's growth.
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Adani to invest Rs 2 lakh crore in renewable energy capacity addition by 2030
Adani Group plans to invest Rs 2 lakh crore by 2030 to achieve 40 GW of renewable energy generation capacity, aiming for net zero emissions by 2050. With over 10 GW capacity currently, they aim to add 6-7 GW annually to reach 50 GW by 2030. The investment is estimated at Rs 5 crore per megawatt. Adani Green Energy Ltd has added 2.8 GW capacity in FY24.
In 10 years, India no longer a charity case, it's the driving force of world economy: Sanjeev Sanyal
There are no such things as poor people. They are poor places. Say two brothers grew up in Moradabad. One of them stays back in Moradabad and another went off to Dubai. After five years, one person will be earning a lot more than the other. Why does this happen? It is because places matter, says Sanjeev Sanyal
Brookfield targets USD 10 billion investments in renewable sector
Canada’s Brookfield Asset Management plans to triple its investments in India’s renewable energy sector to over $10 billion within the next three to four years. The firm is also exploring opportunities in electric vehicles and green hydrogen. With a current portfolio of over 25 GW, Brookfield is the second-largest investor in India’s green energy assets. Through its new Catalytic Transition Fund, Brookfield aims to further its commitment to clean energy and transition projects in emerging economies, including India.
India, Bangladesh agree to start talks on comprehensive trade pact
India and Bangladesh have agreed to begin negotiations on a comprehensive economic partnership agreement, as Prime Minister Narendra Modi announced after talks with Bangladeshi PM Sheikh Hasina. Modi emphasized that Bangladesh is India's largest development partner and that New Delhi gives top priority to their relationship. The leaders also discussed enhancing defense cooperation, including defense production and modernization, and signed agreements in areas such as the digital domain, maritime sphere, and railway connectivity.
India drops seven notches in global FDI ranking, inflows down 43% in 2023
Global FDI fell 2% to $1.3 trillion in 2023 amid an economic slowdown and rising geopolitical tensions. FDI flows to developing countries dropped 7% to $867 billion. Tight financing conditions led to a 26% fall in international project finance deals, critical for infrastructure investment. “Among the top 20 host economies, the largest absolute drops were registered in France, Australia, China, the US and India, in that order,” it said.
By 2032, India infrastructure spending will surpass $2.5 trillion, says Adani
The Adani Group, he said, will invest over $100 billion (around ₹8.35 lakh crore) over the next decade in energy transition projects and in manufacturing every major component required for green energy generation. Adani Green Energy is building solar and wind parks. The group is also building facilities to manufacture electrolyzers to make green hydrogen, wind power turbines and solar panels.
Now, here's an India plan
The path to a developed economy by 2047 needs to be sustainable and inclusive. Boosting rural consumption is an immediate requirement. But this can't come at the cost of a disconnected fiscal policy, which may create an untenable level of debt. Similarly, physical and digital infrastructure development needs to be addressed more consciously, keeping in mind broader societal needs and environmental challenges.
India’s climate dilemma will hang over Modi’s next five years
Modi, who has cast himself as climate champion for much of the past decade, will be under pressure to make faster progress toward existing green targets, including pledges to hit net zero by 2070, install a mammoth 500 gigawatts of non-fossil energy by the end of the decade, and corral a global alliance on solar power that aims to secure $1 trillion in investment.
India offers $500 billion investment opportunity in clean energy: Commerce secretary
India's commerce secretary Sunil Barthwal announced at the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum in Singapore that India presents an investment opportunity exceeding $500 billion in the clean energy sector, including renewables, green hydrogen, and electric vehicles by 2030. The forum, consisting of 14 countries like India, Australia, and the US, has identified investment prospects totaling $23 billion for sustainable infrastructure projects in the Indo-Pacific region.
Singapore-based Sembcorp to supply green ammonia to Japan from its India plant
Singapore-based Sembcorp Green Hydrogen Pte Ltd signed an agreement with two Japanese firms to supply green ammonia from its 200,000-metric tonne capacity plant in India.
India offers above $500 bln investment opportunity in clean energy value chain
India offers a $500 billion investment opportunity in clean energy by 2030 at the IPEF Clean Economy Investor Forum in Singapore, resulting in $23 billion investment opportunities for sustainable infrastructure projects in the Indo-Pacific.
India offers USD 500 billion investment opportunities in clean energy, other sectors by 2030
New Delhi India offers huge investment opportunities worth over USD 500 billion, particularly in clean energy value chain including renewables, green hydrogen and EV, by 2030, the commerce ministry said on Thursday. This was stated by Commerce Secretary Sunil Barthwal, who is in Singapore for the two-day meet of the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum.
As India steps back into coalition era, uphill road for tough reforms
In the new coalition government era, India's reform agenda may prioritize job creation and factors market reforms. Balancing political sensitivities and reform priorities will be crucial for the government in navigating coalition dynamics and opposition pressures.
Heat is costing India dear. How to prevent it from charring our economy
Indian Institute for Human Settlements (IIHS) estimates that failing to address climate change, notably heat, could cost India up to 2.3% of GDP by 2023, and 6.7% by 2050. India can't roll the heat back. But we can prevent it from charring our economy and grilling India's liveability.
Future of green jobs holds immense promise in India: Ramesh Alluri Reddy, TeamLease Degree Apprenticeship
India’s transition towards sustainability holds immense potential in creating new employment opportunities.
India seen to emerge as an economic superpower in impending problem-ridden global financial landscape
Global recession risks have diminished, but inflation concerns threaten financial stability. The IMF, World Bank, and rating agencies forecast a slowdown in global growth, citing Middle East conflicts, financial stress, persistent inflation, and reduced international trade as key risks. The IMF's Global Debt Monitor reveals global debt at $235 trillion, or 238% of global GDP, raising fears of a debt crisis. Fiscal prudence may suffer as many nations face elections this year.
Shift towards sustainable packaging is helping companies minimise environmental impact, improve operational efficiency
There is a growing consumer demand that presents a mine of opportunities for businesses to reevaluate business strategies in terms of eco-friendly packaging.
Green shoots seen in IT hiring; 99acres turned cash positive in Q4: Hitesh Oberoi, Info Edge
Hitesh Oberoi, Co-Promoter, MD & CEO of Info Edge, discusses the growth in IT hiring, positive Naukri JobSpeak index movement, and real estate success. He also addresses EBITDA margins, recruitment trends, and global market influences, including exceptional losses and FY25 projections. Oberoi says IT hiring is more indexed to what happens in the US and the global economies than to what happens in the Indian economy and it has to be seen how that plays out over the next few quarters.
India's data centre capacity to double to 2,000 MW by 2026
India's data centre capacity will double to 2,000 MW by 2026, driven by 'green energy'. The industry expects substantial growth, with increasing internet users and digitisation fueling demand for data centres.
Hydrogen fuel of future, vehicles will run on 100% ethanol in coming years: Nitin Gadkari
Nitin Gadkari champions hydrogen as the future fuel, promoting green fuels in India. He envisions ethanol-based vehicles dominating the market, leading to job creation in agriculture. Supporting BJP's Giriraj Singh, he emphasizes infrastructure development for PM Modi's economic goals.
NTPC Green Energy inks pact with Indus Towers to develop renewable energy projects
NTPC Green Energy Ltd (NGEL), a subsidiary of NTPC, has signed an initial agreement with Indus Towers Ltd (ITL) to collaborate on developing grid-connected renewable energy projects, including solar, wind, and energy storage solutions. This move aligns with the Indian government's push for a carbon-neutral economy.
Coal keeps powering India as booming economy crushes green hopes
India's energy dilemma at Tuticorin plant showcases the struggle to shift from coal to renewables. Despite global pressure, the country leans on coal, hindering efforts to reduce greenhouse gas emissions and ensure reliable electricity for its growing population.
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