Search Result for : Piyush Goyal

The Dollar Business Bureau Industry association Federation of Indian Chambers of Commerce and Industry (FICCI) welcomed the Government decision for allowing commercial mining of coal and said that it will support ‘Make in India’ initiative and reduce the country’s dependence on coal imports. The Union Cabinet on Tuesday cleared a process of bidding for commercial mining after four years after enabling the sale and commercial mining of coal through the Coal Mines (Special Provisions) Ordinance, 2014. “FICCI welcomes Cabinet approval to introduce commercial mining of coal and sees it as a landmark policy decision that will change the face of Indian Coal Sector by ushering in rebalancing of prices and market dynamics riding on efficient and large-scale mining,” the industry association said in a statement on Wednesday. It considers that ...

The Dollar Business Bureau India has signed an agreement with Germany on technical cooperation to enhance parameters for renewable energies’ grid integration, said Power Minister Piyush Goyal on Monday. The pact was signed by Ministry of New and Renewable Energy (MNRE) of India and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH on behalf of Germany, under the “Indo-German Energy Programme - Green Energy Corridors (IGEN-GEC)” in New Delhi. This association between MNRE and GIZ will result in better market mechanisms and rules and also help in training manpower in India to ensure stability of grid and to enhance integration of renewable energies in the country, said Goyal. “It will lead to a safer grid, a more secured grid, a grid which can also take care of ...

The Dollar Business Bureau Mineral exploration in the country is presently constrained due to lack of participation from the private sector, said Power, Coal, New & Renewable Energy and Mines Piyush Goyal, and suggested a public private partnership (PPP) model to provide a fillip to the mineral exploration activity. “The time is ripe to reflect on where we had gone wrong”, the Minister said while addressing a conference on ‘Indian Mining Industry 2030 - Way Forward’, organised jointly by FICCI and Ministry of Mines on Tuesday. He suggested setting up of a committee that consists of young mining aspirants for developing a position paper to expedite exploration activities. “This committee should look at innovative ways to bring down the time of actual operation of mine after it ...

The Dollar Business Bureau  With a huge demand for investment in the infrastructure, India is looking for investors globally and London would prove to be natural destination, said Nikhil Rathi, Chief Executive Officer, London Stock Exchange (LSE). “So, India is a fastest growing economy in G-20, growing at 7% a year. There is huge demand for infrastructure investment in India, and it is going global and looking for global investors and London is proving to be natural place for it,” Rathi said. The LSE witnessed the listing of Rs.7,000 crore worth of bonds on Thursday and Friday. India’s Road Transport Minister Nitin Gadkari has launched NHAI bonds worth Rs.5,000 crore on Thursday. Piyush Goyal, Power, Coal and Renewable Energy Minister, has launched the trading of papers on Friday worth Rs.2,000 crore from NTPC ...

The Dollar Business Bureau By 2030, India plans to make a 100% shift to electric vehicles, and occupy the position of a global leader in the new-age e-vehicle industry. To realise this ambition, the government is working towards a comprehensive plan which will usher the start of a green era much earlier. In this context, power and coal Minister Piyush Goyal said that a robust policy for the promotion of e-vehicles is in the pipeline. “Niti Aayog has drawn up certain ideas but the project is being looked after by the Ministry of Heavy Industries. I am sure that will have all discussions and come up with a robust policy because we want to encourage domestic manufacturing of electric vehicles,” the Minister said, adding that a policy is likely ...

The Dollar Business Bureau The Madhya Pradesh state government formally signed strategic agreements to fuel India’s ambitions of cheaper solar tariff. A formal function at Delhi, presided by Piyush Goyal, Union power minister, Shivraj Chouhan, Chief Minister of Madhya Pradesh and Venkaiah Naidu, Union Minister for Urban Development, saw signing of deals for the Rewa Ultra Mega Solar Park (RUMSP). RUMSP is a joint venture between the Madhya Pradesh Urja Vikas Nigam Limited and Solar Energy Corporation of India Limited, aimed at a 1,590 acre solar park in the Gurh tehsil of Rewa district. Official release from the ministry as well as International Finance Corporation (IFC), a World Bank affiliate confirmed the development. IFC, the official transaction and auction advisor, shared in an ...

The Dollar Business Bureau India said on Thursday that it would export extra electricity of 145 MW to Nepal through the newly built two cross-border transmission lines, few days after Nepal requested for more electricity to cope with the severe load-shedding. “Export of power to Nepal is expected to increase by around 145 MW shortly through two 132 kV transmission lines," Indian Embassy said in a statement. Last month, construction of the two cross-border transmission lines was completed. These are Katiya- Kusaha and Raxual-Parwanipur cross-border. Soon after the construction completed, Kathmandu requested New Delhi to provide power via these two transmission lines. Recently, Ambassador of Nepal to India, Deep Kumar Upadhyay, prodded the Indian Power Minister Piyush Goyal ...

The Dollar Business Bureau Power and Renewable Energy Minister Piyush Goyal on Friday said India’s solar power generation capacity would most likely cross 20,000 MW over the next 15 months from its current capacity of 10,000 MW. "On 10th of March this year the installed solar power capacity in India has crossed 10,000 MW, four times the installed capacity three years back, which in next 15 months would cross 20,000 MW," a Power Ministry said in a statement. Speaking at a media event, Goyal said: "India could not have completely focused on Making in India' in the last three years as being in the nascent stage, its solar power sector needed a technological and financial boost from abroad to rapidly expand its horizons." The ...