Corporate India

GRSE Lays Keel for ARS

GRSE achieves a key milestone by laying the keel for the Advanced Acoustic Research Ship (ARS) for DRDO’s NPOL. The vessel, a leap beyond the Sagar Dhwani, will significantly enhance India’s acoustic and oceanographic research, reinforcing the Atmanirbhar Bharat initiative.

Corporate India

ONGC’s Cost Cutting Drive Targets ₹9,300 Crore Savings

Oil and Natural Gas Corporation (ONGC) initiated a comprehensive cost optimisation programme to achieve ₹9,300 crore in savings by FY27. This move prepares the PSU for a future with oil prices around $60 per barrel while fighting production decline.

Corporate India

RBI Allows Banks to Fund Corporate Acquisitions

The Reserve Bank of India will now permit banks to finance mergers and acquisitions by Indian corporates. This new framework significantly expands the scope of capital market lending for the banking sector.

Corporate India

India Indigenous Nuclear Reactor Project Draws Interest ftom Corporate Giants

India’s largest corporate groups, including Reliance and Adani, show strong interest in NPCIL’s tender for the Bharat Small Reactors (BSR). The project, using indigenous PHWR technology, marks the first major entry of the private sector into nuclear generation, with a project deadline now set for March 2026.

Ministries

Empowering growth in Solar Energy sector production linked incentives boosts indigenous solar panel production

Sujeet Kumar Jha18 December 202303 mins

In a bid to elevate indigenous production of solar panels, Union Minister of State for New & Renewable Energy, Bhagwanth Khauba, highlighted the significance of schemes like the Production Linked Incentive (PLI) for High Efficiency Solar Panel manufacturing. With a substantial budget of Rs. 24,000 crores, the PLI initiative is expected to spur growth in the solar panel industry.

Addressing the inaugural session of the 1st India Solar Manufacturing Summit in New Delhi recently, the Minister emphasized the need for the industry to adopt reasonable pricing strategies for solar modules. He cautioned against exploiting basic customs duty to artificially inflate domestic panel prices, stressing the importance of ensuring competitive prices for domestic developers.

During the event, Khauba launched a comprehensive report on PV Supply Chain Resilience & Sustainability – India-EU Cooperation Study, underlining the collaborative efforts between India and the European Union in advancing solar energy sustainability.

Speaking on India’s commitment to sustainability, Khauba highlighted the nation’s achievements in setting and meeting targets at global forums such as COP. He reiterated the importance of the Aatmanirbhar Bharat initiative, emphasizing self-reliance across sectors. The Minister also mentioned the global recognition received by India’s efforts, with leaders like President Vladimir Putin acknowledging initiatives led by the Prime Minister.

Asserting a holistic approach, Khauba assured investors of a stable government and policy certainty in the years ahead, encouraging them to capitalize on emerging opportunities. The Minister concluded by affirming the government’s commitment to continuous consultation with stakeholders for the collective benefit of all. The event witnessed the presence of industry representatives and officials from the Ministry of New & Renewable Energy.

Sujeet Kumar Jha

Sujeet Kumar Jha is a prolific and versatile journalist with more than 10 years of experience in reporting and writing. Passionate about journalism and media communication, he has extensively written on a wide range of topics including real estate issues. A Master in Mass Communication from Guru Jambheshwar University and Bachelor of Arts from University of Delhi, he has also handled editorial co-ordination, planning and production.