INDUSTRIAL SUBSIDIES
Production Linked Incentive scheme for drones to kickstart industry, not permanent subsidy: Piyush Goyal
Goyal noted that technological progress in the drone industry will help farmers in getting higher quality crops and will also help in increasing the yield of crops,
PLI scheme only kickstarter not permanent: Piyush Goyal
Commerce Minister Piyush Goyal emphasizes that the PLI scheme for drone components is meant to kickstart the sector, not provide permanent subsidies. He encouraged industry to focus on growth without depending on government support. Goyal highlighted India's stock market boom and global trade engagement.
Budget 2024 may see Modi govt hiking rural housing subsidy by 50% following Lok Sabha disappointment
India plans a substantial increase in rural housing subsidies in the upcoming federal budget, potentially exceeding $6.5 billion, up by 50% from the previous year. This initiative aims to address rural economic distress and boost infrastructure spending including village roads and job programs, amid challenges in the agriculture sector and recent electoral setbacks for Prime Minister Narendra Modi's party.
What's draining the juice out of electric two-wheeler makers' battery
Sales of e2Ws plummet due to policy inconsistencies, supply chain issues with Chinese suppliers, and expectations for FAME III rollout, impacting top manufacturers like Hero Electric, Okinawa, and Ampere.
EV companies seek stability in incentives ahead of FAME-III rollout
The comparison between FAME-II and EMPS subsidies is crucial, as highlighted by a report from the Federation of Automobile Dealers Associations, emphasizing the importance of stable subsidy regimes for the EV industry's growth.
Budget 2024: MSME ministry seeks additional ₹5,000 crore for job generation scheme
Budget 2024: The government subsidizes a percentage of the loan amount for self-employment ventures, with applicants required to contribute towards the project cost. Despite the high demand, the budget allocation for PMEGP in the current year is lower than the revised estimates for the previous year.
India needs to build its own EV paradigm, products, and core technology in the EV stack: Bhavish Aggarwal, Ola
This is the start of the EV penetration. India is the world's largest two-wheeler market. 20 million two-wheelers are sold a year. Over time, EV penetration will grow to a much larger percentage in the overall industry and there is no single company that can achieve that full transition, says Bhavish Aggarwal,
Retrofitting of inter-city diesel buses can generate over 50,000 jobs
Dr. Charan Singh and Davinder Sandhu emphasize the economic and environmental benefits of retrofitting. It offers a pragmatic solution for sustainable urban transport, driving economic revitalization and environmental improvements. Retrofitting leverages existing infrastructure while transitioning towards cleaner mobility, showcasing tangible progress in achieving sustainability goals.
DGTR for continuation of anti-subsidy duty on certain type of steel pipes, tubes from China, Vietnam
The Directorate General of Trade Remedies (DGTR) has recommended the extension of countervailing duties on welded stainless steel pipes and tubes from China and Vietnam to protect domestic players, citing the risk of harm to the local industry if the duty is lifted, proposing a duty of up to 29.88%.
China says escalation by EU over EV imports could trigger 'trade war'
Last week, the European Commission proposed tariffs of up to 38.1% on electric vehicle imports from China despite Beijing's protest, plunging trade ties to a new low and risking punitive retaliatory action. "The European side continues to escalate trade frictions and could trigger a 'trade war'," a statement attributed to the commerce ministry's spokesperson said. "The responsibility lies entirely with the European side."
Budget wishlist from agriculture & MSMEs stakeholders: Sops, infra push, easy loans and PLI schemes
Stakeholders from the agricultural sector and MSMEs provided key suggestions to Finance Minister Nirmala Sitharaman during pre-budget consultations. Suggestions included rationalizing fertilizer subsidies, boosting agricultural infrastructure investment, and implementing employee-centric production-linked incentive schemes.
The secret behind Chinese EV industry's rise: $231 billion in 15 years
China's EV industry received $231 billion in government subsidies and aid from 2009 to 2022. Support per vehicle decreased, with sales tax exemptions being over half the total. Research suggests EU and US tariff responses. EV quality is improving, challenging global automakers.
EU electric car sales drop in May as German demand slumps, industry says
Sales of new battery-electric cars in the EU dropped 12% in May, led by a 30% plunge in Germany. The EU imposed provisional duties on China-made EVs, affecting Tesla's Model 3 price. Elon Musk's company recorded a 34.2% drop in May sales.
Digital advances and subsidies propel the state’s thriving MSME sector, says Shashi Panja, Minister of Industries, West Bengal
At the ET Make in India SME summit’s Kolkata edition, Shashi Panja highlighted the various policies adopted by the TMC government to support MSMEs, including bank interest subsidies, setting up cooperatives and clusters, and offering credit cards for MSME entrepreneurs.
Bajaj Chetak 2901 launched in India under Rs 1 lakh. Check price, features
Bajaj Auto has recently unveiled the latest addition to its electric scooter range, the Chetak 2901. Priced at INR 95,998 (ex-showroom, Bangalore), this model comes in five vibrant colors: Red, White, Black, Lime Yellow, and Azure Blue. The Chetak 2901 is equipped with a sturdy metal body and advanced technological features, making it a standout in the electric scooter market.
Dutch may pay as much as €3 billion to clean up Tata Steel plant
The Netherlands is considering contributing up to €3 billion for the eco-friendly renovation of Tata Steel Ltd.'s IJmuiden factory, addressing severe health and environmental issues. The Dutch parliament approved subsidies for the renovation. Tata Steel, a major employer, has faced criticism for emissions linked to health problems. Discussions with Tata Steel are ongoing, with the subsidy amount yet to be confirmed.
Hero Electric, Okinawa, Benling could be blacklisted from all govt schemes, say officials
Three electric vehicle makers, Hero Electric, Okinawa, and Benling India, face blacklisting from central schemes for not returning wrongly claimed benefits under the government's FAME-II scheme due to violations of local sourcing requirements by OEMs in 2022.
Companies knowingly violated FAME subsidy scheme, finds panel
The report, submitted by the panel earlier this month, counters findings of an earlier probe by a joint secretary in the Ministry of Heavy Industries (MHI) that said some key terms in the FAME were not clearly defined.
Govt keeping top EV makers accused of FAME subsidy misappropriation out of the new scheme: Report
EV makers face subsidy dispute. EMPS 2024 offers Rs 10,000 per two-wheeler. TVS Motor and Ather show notable sales growth in FY24, while electric vehicle manufacturers experience production decrease amid subsidy conflict.
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