Daily News - Tuesday, 17 September 2024
No Better Place than India to Innovate and Invest in Renewable Energy: PM (The Economic Times)
Prime Minister Narendra Modi emphasized that India's growing renewable energy sector presents vast investment opportunities, not only in energy generation but also in manufacturing, under the 'Make in India' initiative. He highlighted India's commitment to renewable energy despite being a developing economy, aiming for long-term sustainability and global leadership in the sector. Modi projected that India's future energy needs will be met through renewable sources like solar, wind, nuclear, and hydro, positioning the country as a key player in the global energy landscape by 2047.
India, Germany launch platform to push global green funding (Financial Express)
India and Germany have launched a joint platform to accelerate investments in renewable energy both domestically and globally, announced at the Global Renewable Energy Investors Meet & Expo in Gandhinagar. The platform, part of their Green and Sustainable Development Partnership, aims to significantly boost renewable energy investments. Germany's economic cooperation minister, Svenja Schulze, emphasized the partnership's goal to drive concrete solutions for expanding renewable energy in India.
Govt to float company for startup promotion, says Goyal (Financial Express)
The Indian government is establishing a not-for-profit Section 8 company to lead initiatives in the startup ecosystem, modeled on public-private partnerships like Invest India. Commerce Minister Piyush Goyal emphasized that this new entity should be run by startups themselves, potentially issuing shares to unicorns and engaging stakeholders such as Sidbi and the National Startup Advisory Council. Additionally, the Bharat Startup Knowledge Access Registry (BHASKAR) platform was launched to streamline collaboration between startups, investors, and other stakeholders, providing centralized resources and tools to accelerate growth.
E-way bills surge to 105.4 mn in August, marking a record (mint)
In August, a record 105.4 million e-way bills were generated, a 13% year-on-year increase, signalling growing manufacturing and trading activities as industries prepare for the festive season. This rise reflects stronger compliance with GST regulations and suggests enhanced supply chain efficiencies and economic recovery, with intra- and inter-state transactions pointing to broader market opportunities. Despite weather-related disruptions affecting some sectors like commercial vehicles, the overall growth in e-way bill generation and GST infrastructure advancements contribute to better tax collection and supply chain transparency.
RE sector gets $386 billion commitment (Business Standard)
At the 4th RE-Invest Summit, renewable energy companies, banks, and financial institutions committed $386 billion (₹32.45 trillion) to develop 570 GW of renewable energy capacity by 2030, surpassing India's goal of 500 GW. Major players like Reliance Industries, NTPC, and ReNew made significant commitments, with Reliance leading the way at 100 GW, while Adani New Industries and Suzlon pledged large investments in wind turbine manufacturing. Union Minister Pralhad Joshi highlighted that India's solar capacity has grown 33 times since 2014, and the country remains on track to meet its global RE commitments.
