Billionaire Mukesh Ambani's Reliance Industries has invested euro 25 million in German solar wafer maker NexWafe GmbH to use the firm's technology to set up giga-scale wafer manufacturing facilities in India. "NexWafe GmbH (NexWafe) today announced the induction of Reliance New Energy Solar Limited (RNESL), a wholly-owned subsidiary of Reliance Industries Limited (Reliance) as a strategic lead investor in its euro 39 million ($45 million) Series C financing round with an investment of euro 25 million ($29 million) in phase one," the Indian firm said in a late Tuesday evening statement. The investment by Reliance will accelerate product and technology development for NexWafe, including the completion of the commercial development of NexWafe's solar photovoltaic products on prototype lines in Freiburg.
Portfolios were on Tuesday allocated in the new Bihar cabinet headed by Chief Minister Nitish Kumar who, predictably, retained the all-important home department which helps him keep direct control on the state police.
The most immediate challenge for growth is the disruption of the global economy brought about by the Ukraine war and related sanctions, the Covid shutdowns in China and the rising tide of inflation, points out Nitin Desai.
'The first duty of the government is to learn lessons from a bad experience and course correct. It's a pity that the government is making policy without looking at evidence and differentiating between immediate and urgent.'
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
Gautam Adani's plan to build one of the world's biggest coal mines in Australia has been hampered time and again.
Britain has finalised 1 billion pounds worth of new trade and investment with India, creating over 6,500 jobs in the UK, to be signed off at a virtual summit between Prime Minister Boris Johnson and his Indian counterpart Narendra Modi on Tuesday. The investments confirmed by Downing Street on Monday evening form part of an Enhanced Trade Partnership (ETP), which will set the ambition to double the value of UK-India trade by 2030 and declare a shared intent to begin work towards a comprehensive Free Trade Agreement (FTA). "Like every aspect of the UK-India relationship, the economic links between our countries make our people stronger and safer," Johnson said.
The Islamabad Declaration was issued at the conclusion of the 48th session of the foreign minister of the Organisation of Islamic Cooperation which was attended by the ministers and delegates from 57 Muslim states and international organisations.
As President Biden moves ahead with a new 'strategic concept' for China and Russia, the going is bound to get rough for the US and its G7 partners, notes Ambassador T P Sreenivasan.
Signalling both change and continuity, India's new government, headed by Prime Minister Narendra Modi for a third consecutive term, got into work gear on Tuesday with cabinet ministers and ministers of state filing into their respective offices to assume charge.
He has the ability to instantly go to the heart of issues and deconstruct them.
While India won't be immune to global spillovers, we need to create the macro preconditions for sustained growth. Policy agility, prudence, and resilience will be key, suggests Sonal Varma.
Chairperson of Ad Hoc Working group on Kyoto Protocol, John Ashe, said parallel negotiations on the Kyoto Protocol are being carried on at the conference and will be wrapped on December 15 after which a report will be presented.
Days after Moody's cut its gross domestic product (GDP) forecast for financial year 2022-23 (FY23) after the official GDP print for the June quarter came in lower than expectations, the global ratings agency said it would maintain its long-term sovereign debt credit rating and outlook on Asia's third-largest economy. "The credit profile of India reflects key strengths, including its large and diversified economy with high growth potential, a relatively strong external position, and a stable domestic financing base for government debt," Moody's said on Tuesday. "We do not expect rising challenges to the global economy, including the impact of the Russia-Ukraine military conflict, higher inflation, and the tightening financial conditions on the back of policy tightening, to derail India's ongoing recovery from the pandemic in 2022 and 2023," it said.
Finance Minister Nirmala Sitharaman on Tuesday proposed enhancing the funding under the PLI scheme for domestic solar cells and module manufacturing to Rs 24,000 crore from the existing Rs 4,500 crore to make India an exporting nation. "For facilitating domestic manufacturing for the ambitious goal of 280GW of installed solar capacity by 2030, an additional allocation of Rs 19,500 crore for PLI scheme for manufacturing of high efficiency (solar) modules with priority of fully integrate manufacturing units for polysilicon to solar PV modules will be made," Sitharaman said in her Budget speech in the Lok Sabha. In April 2021, the Union Cabinet approved a Rs 4,500 crore production linked incentive (PLI) scheme to boost domestic manufacturing capacity of solar PV modules.
India on Friday signed the historic Paris climate agreement in the United Nations along with more than 170 nations.
At the Paris climate change summit, there is talk of restricting temperature rise to 1.5?C instead of 2?C, which has been negotiated so far. This would give India less space to grow by limiting carbon emissions further, reports Darryl D'Monte, reporting exclusively for Rediff.com from the French capital.
India and the US are working with renewed trust in areas of new and emerging technologies, Prime Minister Narendra Modi said on Friday as he thanked the American leadership for giving him a grand welcome.
Politicians and Twitter warriors around the globe have a new buzzword among them: Net zero. Everyone appears to be keen to state their commitment to net zero, with India providing an outlay of Rs 35,000 crore to achieve energy transition and net-zero objectives in its Budget for FY24, even as the latest and final report by the United Nations' Intergovernmental Panel on Climate Change (IPCC) warned that current efforts are not enough to curb global warming. A number of small factory owners and businesses, however, have pointed out that the transition to net-zero emissions will cost them hugely.
Biden on Friday opened the first Quad Leaders' Summit held virtually and attended by Prime Minister Modi, Australian Prime Minister Scott Morrison and Japanese Prime Minister Yoshihide Suga.
Youngsters must remember education is their BIGGEST investment EVER: Their lifelong income-earning provider! asserts CA P V Subramanyam.
If Paris really meant to serve as a landmark in recognising equity in climate negotiations, it should have heralded the second phase of the Kyoto protocol. Instead we have all countries, India and China included, all signing up with voluntary commitments in what can only be seen as a race to the bottom, reports Darryl D'Monte.
The government, it would seem, is reserving its firepower to spend on big-ticket items that will be announced in the Budget, reports Subhomoy Bhattacharjee.
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Climate change and US-India collaborations in renewable energy resources will be up for discussion at the US-India energy summit coinciding with Prime Minister Narendra Modi's visit to Washington, DC, later this month, reports Aziz Haniffa.
Minister of state for personnel Jitendra Singh said it is a major step to place the right talent for the right role.
The amount of money lying unclaimed with the Life Insurance Corporation of India dwarfs the budgets of many ministries. There was Rs 21,539.5 crore which lay unclaimed with India's largest insurance company, according to details in the initial public offer (IPO) document it filed over the weekend. The regulatory documentation is ahead of LIC selling shares to the public through the stock exchange for the first time this financial year. This will be India's largest ever public listing.
IMF's Chief Economist Gita Gopinath will leave her job in January next year and return to the prestigious Harvard University, according to the global financial institution.
Govt resists pay panel suggestion on scrapping allowances for acting, bad climate, family planning, funeral, robe maintenance and even hair cutting.
'Young IFS officers today would take it for granted that they represent a major country with strengths and capabilities.' 'They will be aware that India is seen as one of the 10 significant countries in the world and therefore their voice will be heard whether on climate change or regime change,' says Ambassador B S Prakash.
Former Union minister Suresh Prabhu would be India's Sherpa at the 14th meeting of the world's top economies in Osaka, Japan.
Modi emphasised that it was necessary to work together for sustained global economic recovery.
Sushma in her address at the Shanghai Cooperation Organisation Council of Foreign Ministers meeting said that terrorism is an enemy of basic human rights.
In the opinion piece after the summit, the leaders said the cooperation, known as "the Quad," was born in crisis. It became a diplomatic dialogue in 2007 and was reborn in 2017.
Former BCCI president Anurag Thakur on Tuesday announced setting up of a cricket and sports academy in Leh to ensure that talented athletes get the required training to become a part of the mainstream.
Elaborating on America and India's scope of engagement, Kerry said he has seen first-hand the transformation in Indo-US relationship as well as the ups and downs in the relationship. Kerry says the world's oldest and largest democracy were "finally beginning to captalise on our connections to each other." Sheela Bhatt/Rediff.com reports after the media interaction with the US secretary of state.
Amid Covid-19 protocols, here's how the monsoon session looks like.
The meeting with Xi is being held amid the ongoing trade war between the United States and China.
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
The government has identified nine key focus areas in the AI national programme, including agriculture, education, Indian languages, smart cities, cybersecurity, transportation, and finance.
'If you look at the order books of capital equipment companies or money deployed on the ground, there is forward movement in terms of actual investment by the private sector.'
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