Daily News - Friday, 10 October 2025
Modi invites UK to partner in India’s nuclear, RE push (Financial Express)
Prime Minister Narendra Modi announced that India will open its nuclear power sector to private participation, inviting UK businesses to collaborate in green energy and infrastructure as part of India’s broader vision to achieve 500 GW of renewable capacity by 2030 and 100 GW of nuclear power by 2047. The move marks a major policy shift backed by a ₹20,000 crore Nuclear Energy Mission and planned amendments to key atomic energy laws, paving the way for both Indian and global companies to enter a sector previously restricted to the public domain. With firms like NTPC, L&T, Tata Power, and IndianOil already exploring partnerships with U.S. and Russian players, India’s nuclear expansion drive signals a new era of public–private collaboration aimed at securing clean, reliable, and large-scale energy independence.
China’s fresh rare earth curbs deepen supply risks for India (Financial Express)
China has tightened its export controls on rare earths, expanding restrictions from raw minerals to include processing technologies, machinery, and intellectual property, effectively strengthening its dominance over global critical mineral supply chains. The move, which bars exports tied to foreign defence and semiconductor uses, poses fresh challenges for India’s plans to achieve self-reliance in advanced manufacturing, as it still depends heavily on Chinese-origin rare earths for its EV, renewable energy, and defence sectors. With China demanding end-user assurances and curbing overseas collaborations, India faces renewed supply uncertainties even as it prepares a ₹7,300 crore scheme to boost domestic magnet production and seeks alternative partnerships with Japan and South Korea.
Modi, Trump review trade deal progress (Financial Express)
Prime Minister Narendra Modi and U.S. President Donald Trump discussed the steady progress in their ongoing trade negotiations and agreed to stay in close contact, while Modi also congratulated Trump on the success of the Gaza peace plan that both Israel and Hamas have signed onto. The bilateral trade agreement, under discussion since March and expected to conclude by November, has seen some delays, but both governments remain engaged at multiple levels, with recent meetings between Commerce Minister Piyush Goyal and U.S. trade officials in Washington. Key sticking points include India’s demand for the removal of the 25% additional U.S. duties on its Russian oil purchases and the reduction of reciprocal tariffs, as both nations seek to finalise a deal that could reset the terms of their economic partnership.
No power on earth can stop India from becoming developed nation by 2047: Piyush Goyal (The Hindu)
Commerce and Industry Minister Piyush Goyal said that no force can stop India from becoming a developed and prosperous nation by 2047, as the government pushes major initiatives to strengthen the domestic economy, boost infrastructure, and deepen global trade ties. Speaking at the Global Fintech Fest in Mumbai, he highlighted that India has transformed from being a participant to a key architect in the global fintech space, earning global trust for its skilled talent, reliable goods, and commitment to timely delivery. Goyal added that with strong macroeconomic fundamentals, expanding trade with advanced economies, and a realistic target of becoming a $30–35 trillion economy, India stands at an inflexion point where technology, digital progress, and international partnerships will shape its path to developed-nation status.
Govt to launch ₹7,350 cr plan to boost production of rare-earth magnets (Business Standard)
The government is finalising a ₹7,350 crore scheme to establish a domestic ecosystem for producing sintered rare earth permanent magnets (REPMs), aiming to reduce dependence on Chinese imports that are crucial for sectors like automobiles, electronics, wind energy, and defence. The plan envisions setting up five integrated manufacturing units with a total annual capacity of 6,000 tonnes, offering capital subsidies and sales-linked incentives to firms that build and operate these high-tech facilities, which India currently lacks the capability to produce. To ensure fair competition and transparency, the Ministry of Heavy Industries will invite global bids under a least-cost system while also overseeing the project’s implementation and monitoring raw material sourcing, with limited domestic supply supplemented by private procurement to meet the ambitious targets.
