Daily News - Thursday, 23 January 2025
Green hydrogen incentives likely for polluting sectors (mint)
The upcoming Union Budget FY26 is expected to provide financial support for green hydrogen and carbon capture, utilization, and storage (CCUS) to accelerate adoption in high-polluting industries like steel, cement, and power, as current high costs hinder green technology uptake. Under the ₹19,700 crore National Green Hydrogen Mission (NGHM), the government already offers supply-side incentives, including ₹17,490 crore for hydrogen and electrolyzer production, but subsidies ranging from $0.66 per kg to $0.4 per kg over three years have proven insufficient to meet breakeven costs. With India targeting 5 million tonnes of green hydrogen production by 2030, leveraging its low renewable energy tariffs and vast land area, further fiscal measures in FY26 aim to boost demand, scale production, and bridge viability gaps, ensuring cleaner energy transitions for industries while improving energy security and geopolitical strength.
Ashwini Vaishnaw steers Davos parleys (The Hindu)
Union Minister Ashwini Vaishnaw, ahead of the World Economic Forum (WEF) 2025 in Davos, participated in strategic meetings in Switzerland to enhance India’s international collaboration in railways and showcased India’s semiconductor ecosystem. He engaged with Swiss Federal Railways and SMEs like Rhomberg Sersa AG and Stadler Rail to explore advanced technologies and manufacturing practices for Indian Railways, emphasizing operational efficiency and safety. Meanwhile, at the WEF, India Pavilion featured eight states, including Andhra Pradesh and Telangana, presenting investment opportunities in sectors such as semiconductors, electric vehicles, pharma, and infrastructure, underscoring India’s position as the world’s third-largest domestic market.
H-1Bs fill critical skills gap in U.S.: Nasscom (The Hindu)
Nasscom emphasized that H-1B visas address critical U.S. skill gaps and are unrelated to immigration, countering myths that H-1B workers depress salaries or replace American workers, while highlighting the Indian IT industry’s $1.1 billion investment in upskilling over 2,55,000 U.S. employees and benefiting 2.9 million students. Despite concerns over President Trump’s recent immigration policies, including revoking birthright citizenship and potential 100% tariffs on BRICS countries, Nasscom remains optimistic about the $250 billion Indian IT industry’s role in driving U.S. economic growth. Nasscom Vice President Shivendra Singh reaffirmed the need for collaborative, “win-win partnerships” between the two nations, emphasizing that technology will remain a cornerstone of U.S. economic progress.
Bids for mega Vadhvan port project likely by September (Financial Express)
Bids for core infrastructure development under the ₹76,220 crore Vadhvan Port project in Maharashtra, a key part of the India-Middle East-Europe Economic Corridor (IMEEC), are expected to open before September 2025. The greenfield deepwater port, featuring nine container terminals and multiple cargo berths, will have a capacity of 298 MMT per annum, including 23.2 million TEUs, making it one of the world’s top 10 ports when completed by 2034. Aligned with the PM Gati Shakti programme, the project is expected to generate 1.2 million jobs and significantly boost economic activity, while doubling cargo handling capacity and reducing logistical costs across Indian ports.
Food, fertiliser and LPG subsidies may be raised (Financial Express)
The government is likely to increase its spending on food, fertiliser, and cooking gas subsidies to ₹4.1 lakh crore in FY26, an 8% year-on-year rise, driven by higher food and energy costs. The food subsidy bill is projected to grow by 5% to ₹2.15 lakh crore due to increased rice purchases and storage costs, while the cooking gas subsidy allocation is expected to more than double to ₹25,000 crore. Subsidies, which currently account for 8% of the total annual spending, will remain critical in supporting the rural economy as the country faces slowing growth and global uncertainties.
