India’s renewable power capacity is 4th largest in the world: PM
India in last 6 years has increased its installed renewable energy capacity by two and half times and that the country’s renewable power capacity is 4th largest in the world, Prime Minister Narendra Modi said during his speech at recently concluded RE-Invest 2020, a 3-day summit organised by the Ministry of New and Renewable Energy.
“Our annual renewable energy capacity addition has been exceeding that of coal based thermal power since 2017. In the last 6 years, we increased our installed renewable energy capacity by two and half times,” the Prime Minister said.
He adds, “Today, India’s renewable power capacity is the 4th largest in the world. It is growing at the fastest speed among all major countries. The renewable energy capacity in India is currently 136 Giga Watts, which is about 36% of our total capacity.”
Prime Minister Modi further informed that for next 10 years, India has huge renewable energy deployment plan which is likely to generate business opportunities of 20 billion dollars per year.
Govt coming up with many structural reforms in mining sector: Pralhad Joshi
The government is coming up with many structural reforms in the mining sector to realise its true potential, said Union Minister for Coal and Mines Pralhad Joshi said while addressing the 15th edition of Global Mining Summit and International Mining & Machinery Exhibition.
He said, “The proposed structural changes in the mining sector aim to increase participation of the private sector in mineral exploration, redefine the norms of exploration for auction of mineral blocks to ensure a seamless transition from exploration to production. They will also redefine the standard of exploration required for auctioning of blocks for prospecting license-cum mining lease and open acreage licensing policy for allocation of mining rights which will give a major boost to the production of minerals in the country.”
Highlighting the proactive reform approach of the Government, Joshi said that March, 2020 was a significant period during which leases of large number of working mines expired and they had to be auctioned immediately. The Government took a proactive and biggest industry-friendly step of transferring all statutory clearances to the new lessees by promulgating an ordinance. This was a major step to ensure seamless production of raw materials.
The Minister said that the results of this particular reform have been encouraging and with this ordinance in place, recently Odisha has completed the successful auction of large number of iron ore mines. However, some of the successful bidders are trying to evade the process of auctions by delaying the production. He added that such cases will be dealt seriously and in coordination with the state government, the Ministry is contemplating to bring stringent provisions in the act so that non serious players are terminated and barred from future auctions.
India’s manufacturing PMI slips to 3-month low in Nov
India’s manufacturing sector lost growth momentum in November, as a slower order flow and COVID-related restrictions impacted output.
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) fell from 58.9 in October to a three-month low of 56.3 in November, indicating that the manufacturing sector growth remained strong, despite losing traction.
Pharma and medical device industry shown positive response for PLI: Govt
Production Linked Incentive (PLI) schemes for bulk drugs and medical devices have shown a very positive response from the pharmaceutical as well as the medical device industry. According to the official information, 215 applications made by 83 pharmaceutical manufacturers have been received under the PLI Scheme for bulk drugs. Similarly, 28 applications made by 23 medical device manufacturers have been received under the PLI Scheme for medical devices. The closing date of applications was 30th November.
“Looking at the increasing imperative of drug security, support to domestic production capability in bulk drugs would ensure higher resilience of the Indian pharmaceutical industry to external shocks. The PLI scheme for medical devices will help meet the objective of product diversification and production of innovative and high value medical devices in India. These initiatives have the potential to contribute significantly to achieving higher objective of affordable healthcare in the country and globally on a sustained basis,” the statement adds.
Production-linked incentive schemes for bulk drugs and for medical devices were approved by the government on March 3 and the revised guidelines for implementation of both the schemes were issued on October 29.
