India’s coal sector continues to play a pivotal role in supporting the country’s expanding economy. However, a significant gap remains in the availability of domestic coal reserves, particularly for coking coal and high-grade thermal coal, which are essential for critical industries like steel production. To bridge this gap, coal imports have been crucial. Reduction in …
The Union Ministry of New and Renewable Energy (MNRE) has reported substantial progress in India’s renewable energy sector, showcasing significant achievements between December 2023 and December 2024. The total installed renewable energy capacity has reached a remarkable 209.44 GW as of December 2024, marking a 15.84% increase from 180.80 GW in December 2023. Record Capacity …
The Bharat Climate Forum 2025 in New Delhi, Union Minister of Commerce & Industry, Shri Piyush Goyal, unveiled the Bharat Cleantech Manufacturing Platform. This initiative aims to strengthen India’s cleantech value chains across sectors like solar, wind, hydrogen, and battery storage, steering the nation towards its sustainability goals. The Need for Innovation and Independence During …
On January 13, 2025, the Indian rupee traded up at 86.31 to the U.S. dollar, against 85.97 at the previous close. The rupee had hit a record low of 85.97 against the dollar on Friday, surpassing its previous record low of 85.86 hit earlier last week. Rupee Drops to Record Low as Dollar Strengthens The …
India’s planned revision of its 14-year-old trade agreement with the Association of Southeast Asian Nations (ASEAN) is encountering delays, as the bloc’s members push to negotiate tariffs individually rather than adopting a unified tariff structure. The review, initially expected to be finalised at next month’s Jakarta meeting, has been stalled due to resistance from several …
The Union Government has transferred ₹1,73,030 crore to state governments under the tax devolution process, marking a significant increase from the ₹89,086 crore distributed in December 2024. This enhanced allocation aims to bolster states’ capacity for capital spending and support developmental and welfare initiatives. What is Tax Devolution? Tax devolution is the constitutional mechanism for …
India’s foreign exchange reserves dropped by $5.69 billion to $634.58 billion as of week ending January 3, 2025, the Reserve Bank of India said on Friday. The reserves have been on a declining trend for the last few weeks. Weekly Decline in Forex Reserves The country’s forex reserves had dropped by $4.1 billion for the …
The insurance sector in India has been experiencing steady growth since December 2023, though momentum slowed during May–June 2024. According to Deloitte, with the country’s growing GDP and expanding middle class, the sector is poised for further development. As per Deloitte’s report, life insurance saw a growth of about 12.1% in new policies by June …
In a significant move towards improving data accuracy, the Ministry of Commerce and Industry has revised India’s trade data for April- November 2024. This revision follows a reconciliation exercise initiated by the Directorate General of Commercial Intelligence and Statistics (DGCI&S) to address discrepancies in the reported figures for imports of precious metals. The Reason Behind …
The Indian government is set to offer a ₹35,000 crore subsidy to state-owned oil companies Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOC), and Hindustan Petroleum Corporation Ltd (HPCL). This will help cover the losses these companies have faced due to the selling price of LPG remaining unchanged while input costs have increased. …
