The heavy industries ministry has asked US-based electric car major Tesla to first start manufacturing its iconic electric vehicles in India before any tax concessions can be considered, government sources said. They said that the government is not giving such concessions to any auto firm and giving duty benefits to Tesla will not send a good signal to other companies that have invested billions of dollars in India. Tesla has demanded reduction in import duties on electric vehicles (EVs) in India.
Bharat Heavy Electricals Ltd (BHEL) is India's largest engineering and manufacturing enterprise, operating across energy, industry, and infrastructure sectors. The investment path for the stock is based on a large order backlog, continued strong order inflows, and rising power demand, which should push demand for BHEL's equipment and services. BHEL has historically held over 70 per cent market share in power projects.
Since Hyundai has developed its 'small cars' based on the current definition of 4,000 mm, it could lose out on excise benefit if the length were to be altered to 3,800 mm as per the auto policy.
Minority Affairs Minister Najma Heptulla, who had crossed 75 years, resigned on Tuesday from the Union Cabinet along with Minister of State for Heavy Industries G M Siddeshwara.
Girish Chandra Chaturvedi (57), a 1977 batch Indian Administrative officer from the UP cadre, took charge as the new petroleum secretary on May 3.
The government will offload a portion of its equity in Bharat Heavy Electricals Ltd and Maruti Udyog in the market by the end of this fiscal to mop up over Rs 2000 crore (Rs 20 billion).
The programme being outlined under the aegis of the ministry of heavy industries and public enterprises is part of the National Electric Mobility Mission Plan 2020.
Union Minister for Heavy Industries and Public Enterprises Praful Patel on Friday said his ministry was preparing a list for outright sale of sick and closed PSUs that have no potential for turnaround.
The government is working out a scheme that will facilitate finance for the auto component industry hit by economic slowdown and increasing competition from abroad.
VW cheating a 'well thought-out crime', diesel cars under lens
Adani Power, part of the Adani group, plans to add close to 6 gigawatts (Gw) of new power assets in the next five years, according to an investor presentation by the company. That is clearly meant to ride on India's burgeoning power demand. But there is another side to it: All of this new capacity is expected to be thermal power, or power produced from coal.
If a committee set up under the heavy industries ministry approves a recommendation of the auto industry, the country may soon get a scheme, which would incentivise a vehicle buyer for scrapping his old vehicle in exchange.
Union Minister Nitin Gadkari on Friday said he has asked US-based Tesla several times to manufacture its iconic electric vehicles in India, while assuring that all support will be provided by the government to the company. Addressing 'India Today Conclave 2021', Gadkari further said electric cars manufactured by Tata Motors are not less good than electric cars manufactured by Tesla. "I have told Tesla that don't sell electric cars in India which your company has manufactured in China.
Ford, which had announced to quit the Indian market last year, said it was exploring the possibility of using one of its plants in India to produce electric cars for exports.
His tenure will end in December this year.
As per the well-established system, all the 249 public sector units are to sign a memorandum of understanding with their administrative ministries, setting the performance targets which are reviewed at the end of the fiscal year.
India also went on an overdrive in expanding its military engagement with like-minded countries in its neighbourhood and beyond in the face of China's relentless attempts to become a regional hegemon and establish its primacy in South Asia.
Subsidies have been stopped for several manufacturers that are under investigation for alleged violations of local-sourcing rules.
The five-member Group of Ministers (GoM) also include Agriculture Minister Sharad Paward, Heavy Industries Minister Vilasrao Deshmukh, Petroleum Minister Murli Deora and Chemical and Fertiliser Minister M K Azhagiri, official sources said.
If the country wants to have eco-friendly vehicle, definitely some concessions have to be offered.
Concerned over the staggering Rs 2,100 crore (Rs 12 billion) statutory dues of ailing public sector undertakings in the midst of a cumbersome and time consuming winding up process
The Narendra Modi-led government has issued around 50 fresh guidelines easing conditions for industry in about six months, beside launching an online system for applying environment clearances.
The change in stance follows a strong opposition by automakers of the proposed government plan to ban two-wheelers (below 150cc) and three-wheelers by 2023 and 2025, respectively
The government on Tuesday provided enhanced financial autonomy to two public sector units -- Bridge and Roof Company and Bharat Pumps and Compressors -- by granting them the 'mini-ratna' status.
The testing track for high speed vehicles (having speeds between 250 kmph and 350 kmph) at the Indore centre would be operational by 2012.
B C Khanduri, who was elevated to Cabinet rank in the Ministry of Road Transport and Highways, and Rajiv Pratap Rudy, who was given independent charge of the civil aviation ministry, were among those who joined work on Monday.
The report said people with heavy luggage lost their balance because of which the stampede may have occurred.
Industry analysts say the display of mileage data will help buyers take informed decisions. "Studies conducted by us reveal this fact. Customers who were over-promised on mileage developed dissatisfaction that was four times higher than customers who were promised the actual mileage. So, the resultant transparency actually boosts the brand image of the car manufacturer," said Mohit Arora, senior director of Singapore-based JD Power and Associates.
Action has been taken according to a memorandum that requires 'periodic review of performance of government servants'.
Top level public sector executives, including directors and chief executives, will not be able to join private firms after retirement or resignation unless they get go-ahead from the government.
American automaker Ford on Thursday said that it had withdrawn plans to manufacture electric vehicles (EVs) in India and it won't invest in the country under the performance-linked incentive (PLI) scheme. "After careful review, we have decided to no longer pursue EV manufacturing for exports from any of the Indian plants. "We remain grateful to the government for approving our proposal under the PLI and for being supportive while we continued our exploration. "Ford India's previously announced business restructuring continues as planned, including exploring other alternatives for our manufacturing facilities.
