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India and Africa aim to double trade to USD 200 billion in seven years

India, News

Commerce and Industry Minister Piyush Goyal highlighted the vast potential for economic cooperation between India and Africa, proposing to double two-way trade to USD 200 billion in the next seven years. Speaking at CII’s India-Africa business conclave, Goyal identified key sectors for collaboration, including agriculture, pharmaceuticals, mining, tourism, auto, critical minerals, and renewable energy. Goyal emphasized the need to engage more African countries in India’s duty-free tariff preference (DFTP) scheme, noting that currently, only a…

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Key measures for energy sector in India’s Union Budget 2024

India, News

The 2024 Union Budget of India introduced significant measures to boost the energy sector, emphasising renewable energy adoption, energy transition, and infrastructure enhancement. Here are the key highlights: PM Surya Ghar Muft Bijli Yojana: 10 million households will receive up to 300 units of free electricity monthly, supported by subsidies and concessional loans, with a National Online Portal for streamlined applications. Renewable Energy Funding: The Ministry of New and Renewable Energy (MNRE) has been allocated…

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Coal India targets 5 GW of renewable energy capacity by 2028

India, News

Coal India Limited (CIL) is aiming to add 5 GW of renewable energy capacity by 2028, with a focus on diversifying into green energy through solar power and pump storage projects in its open-cast mines. The company is in discussions with various countries to acquire critical mineral assets to support its diversification efforts. CIL has targeted Rajasthan, Gujarat, Maharashtra, and Karnataka for solar ventures, signing joint venture agreements with state governments to generate and supply…