Daily News - Friday, 7 February 2025
Lotte plans $300-mn India push (Financial Express)
Lotte Wellfood plans to invest an additional $300 million (₹2,600 crore) in India over the next 3-5 years, aiming to expand beyond its 5% share in the $3-billion domestic ice-cream market by entering new categories like snacks, cakes, biscuits, and cookies. The merger of Lotte India (confectionery) and Havmor Ice-Cream India by FY25 will create a $350-million (₹3,000 crore) entity, targeting a turnover of ₹6,000 crore in six years, supported by a ₹500-crore investment in Havmor’s Talegaon plant, which will double its ice-cream production capacity to 100 million litres. Lotte Wellfood is also positioning India as an export hub for West Asia and Africa while capitalizing on the rising demand for Korean food with the launch of Pepero, a chocolate-coated biscuit stick, by July 2025.
Bengal summit gets investment proposals worth ₹4.40 lakh crore (Financial Express)
West Bengal secured investment proposals worth ₹4.40 lakh crore during the Bengal Global Business Summit (BGBS) 2025, surpassing the ₹3.76 lakh crore pledged in 2023, with 212 MoUs and letters of intent signed across various sectors. Chief Minister Mamata Banerjee highlighted that these investments would generate thousands of jobs and credited her government’s development policies since 2011 for lifting 17.2 million people out of poverty. She emphasized the state’s progress in infrastructure, industry, and social welfare, reinforcing West Bengal’s position as a key investment destination.
Govt inks ₹10k-cr deals for Pinaka rocket system (Financial Express)
The Indian government signed defence contracts worth ₹10,147 crore to procure Area Denial Munition (ADM) Type-1 and high-explosive pre-fragmented (HEPF) Mk-1 (Enhanced) rockets for the Pinaka Multiple Launch Rocket System (MLRS), aiming to boost the Indian Army’s firepower. The advanced HEPF Mk-1 (E) rockets offer extended range and precision strikes, while ADM Type-1 warheads are designed to neutralize enemy mechanized forces and personnel over a wider area. Additionally, a contract was signed with Bharat Electronics Limited (BEL) for an upgrade to the Shakti software, marking a key step in modernizing India’s artillery capabilities.
Solar cell capacity set to jump fivefold to 55 GW by 2027 (Financial Express)
India’s solar cell manufacturing capacity is projected to reach 50-55 GW by FY 2027, a fivefold increase from 10 GW in FY 2024, driven by government policies such as the Production-Linked Incentive (PLI) scheme and domestic content requirements, with an estimated ₹28,000-30,000 crore investment funded through a 70:30 debt-equity mix. While module imports have declined to 25% of total consumption (from 45% last fiscal) due to a rise in domestic module production (60 GW as of March 2024), cell imports—mostly from China—remain high at 80%, though this dependence may gradually decrease as local capacity expands. Crisil Ratings forecasts 60-65 GW of solar capacity additions by FY 2027, with domestic cell production expected to capture 70-80% of module costs, improving India’s self-reliance and reducing long-term import dependency.
India can be a wind turbine hub for world: Suzlon’s Girish Tanti (mint)
India has the potential to become a global manufacturing hub for wind power components, with 64% localization in wind energy projects compared to just 20% in solar, and a robust supply chain of 2,500 MSMEs supporting the sector, said Girish Tanti, vice chairman of Suzlon Energy Ltd. The National Manufacturing Mission and a dedicated incentive program, similar to the PLI scheme for solar, could drive further growth, enabling India to meet 10% of global wind energy demand by 2030 while leveraging its annual wind turbine production capacity of 18 GW. With established exports to the US, Australia, Brazil, and Europe, policy support and investment in clean tech manufacturing can enhance India’s competitiveness in the global wind energy market.
