More funds for startup scheme likely in Budget (Financial Express)
The Ministry of Commerce and Industry is considering increasing the Startup India Seed Fund Scheme (SISFS) allocation due to higher-than-expected demand and off-take, with more than ₹740 crore approved to 190+ incubators as of October 2023. The scheme, launched with a corpus of ₹945 crore for four years, has disbursed ₹400 crore so far, and an additional ₹175 crore is expected to be spent this financial year. The government is also contemplating replacing SISFS with a new scheme under the National Deep Tech Startup Policy to continue supporting seed-stage startups and drive innovation, growth, and job creation in India's startup ecosystem.
From Chimneys to Skies: NTPC Explores Sustainable Aviation Fuel (The Economic Times)
NTPC Ltd, India's largest power producer, is exploring sustainable jet fuel production by combining carbon captured from its thermal power plants with green hydrogen. The company aims to set up an annual capacity of 100,000 tonnes of clean jet fuel, potentially at its green hydrogen hub in Pudimadaka, Andhra Pradesh, though the location is not finalized. This initiative, driven by NTPC Green Energy Ltd, marks a significant step in NTPC's green energy transition and efforts to reduce its carbon footprint through carbon capture utilisation and storage (CCUS) technology.
‘India’s energy use to grow 90% by 2050’ (mint)
Igor Sechin, CEO of Rosneft, predicts India's energy consumption will nearly double by 2050, driven by its fast-growing economy, which he expects to surpass the US in size by that year. Speaking at the St. Petersburg International Economic Forum, Sechin emphasised the continued importance of fossil fuels, criticizing the "green agenda" for its lack of profitability and technology limitations in hydrogen and renewable energy. He highlighted that developing countries, particularly in Asia, will be the primary drivers of oil consumption growth, and stressed the need for a balanced energy transition that ensures energy security and addresses the needs of these nations.
