
Waaree Energies' arm wins order worth USD 176 million
For supply of 586 MW solar modulesWaaree Solar Americas, a wholly owned subsidiary of Waaree Energies has received an order on May 28, 2025 for supply of 586 MW solar modules for an amount of 176 Mn USD from a renowned customer who is a developer and owner operator of utility scale solar and energy storage projects across the United States.Powered by Capital Market - Live News

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News18
25 minutes ago
- News18
'Disgusting Abomination': Elon Musk Criticises Donald Trump's Tax Bill, White House Reacts
Last Updated: The tech billionaire's remarks come shortly after his abrupt exit from the administration last week. Elon Musk has sharply criticized President Donald Trump's flagship tax and spending legislation, calling it a 'disgusting abomination". Reacting to Musk's comments, White House press secretary Karoline Leavitt said the president remains unfazed and he already knew where 'Elon Musk stood on this bill". The controversial bill—passed by the House of Representatives in May—includes multi-trillion-dollar tax breaks, increased defence spending, and provisions that expand the federal government's borrowing capacity. 'Shame on those who voted for it," Musk posted on X on Tuesday. I'm sorry, but I just can't stand it massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it. — Elon Musk (@elonmusk) June 3, 2025 The tech billionaire's remarks come shortly after his abrupt exit from the administration last week, following a 129-day stint leading a cost-cutting initiative through his advisory group, Doge. Musk doubled down on his criticism in a series of follow-up posts, warning that the bill would 'massively increase the already gigantic budget deficit to USD 2.5 trillion" and claiming that 'Congress is making America bankrupt." Officially titled the 'One Big Beautiful Bill Act," the legislation builds upon Trump's 2017 tax cuts while significantly boosting funding for the military and border security. However, it also proposes cuts to key social programs including Medicaid, food assistance, and other welfare schemes. The nonpartisan Congressional Budget Office estimates that the bill would add around USD 3.8 trillion to the federal government's current USD 36.2 trillion debt over the next ten years. Senate deliberations on the bill are ongoing, with Trump reportedly making direct calls to senators to secure backing for his landmark legislative effort. White House Dismisses Musk's Criticism The clash highlights ongoing tensions between Musk and the administration over fiscal policy, even as the bill continues to polarize opinion across political and economic circles. At a Friday press conference held in the Oval Office, President Trump hailed the legislation as 'an unbelievable bill" that 'cuts your deficits," while adding that he would have liked 'a bigger cut in taxes." Musk did not revisit his criticism of the bill during the event. First Published: June 04, 2025, 06:56 IST


India Today
6 hours ago
- India Today
Trump Gold Card to be a game-changer for Indian investors: US Commerce Secretary
The proposed Trump Gold Card, a USD 5 million pathway to permanent US residency, is expected to be a runaway success in India, US Commerce Secretary Howard Lutnick said on Monday, calling it a "wonderful opportunity" for Indian entrepreneurs and investors to link two powerful at the US-India Strategic Partnership Forum (USISPF) Leadership Summit 2025, Lutnick outlined the vision for the Trump-backed immigration initiative that would allow wealthy foreigners to gain permanent residency in the United States, much like a Green Card, only at a think the ordinary path of immigration for America is changing,' Lutnick said in his keynote. "The Trump Card is coming out. I expect the Trump Card will create an enormous opportunity for people to have the ability to come to America.' Lutnick was effusive about Indian talent and its outsized contribution to the US economy. 'The success of Indian entrepreneurs in America — individuals of Indian nationality leading and running so many of the great companies of America is because they're fantastic entrepreneurs, fantastic business people, smart, thoughtful, educated in every way.'Under the Trump Gold Card proposal, individuals would gain residency by investing $5 million. Lutnick said the program will especially resonate in India, given the nation's rising number of high-net-worth individuals eager to participate in global business.'We are going to be incredibly successful in India,' Lutnick said confidently. 'So when people ask me, 'When are you coming to India?' I'd say, 'When I launch the Trump Card, I promise you I'm coming to India.''advertisementHe added that the Gold Card offers more than just a visa —it offers a flexible tax option. 'You can become like a green card holder, the equivalent of it—it's the Trump Gold Card. You can do it that way and pay global tax, or keep everything the way it is and pay US tax on US assets, and nothing on your global assets. No inheritance tax either.'He said that creates a new class of investor: 'an international entrepreneur.'Lutnick also discussed trade and technology partnerships between the US and India, saying both nations stand to gain as America seeks to bring back advanced manufacturing while deepening its ties with trusted allies.'There are enormous numbers of product categories that we'd really like to go to India,' Lutnick said. 'India will benefit from a trade deal that gives it a better tariff relationship than most countries in the world.'In the tech space, Lutnick emphasized future collaboration. 'We want our allies to participate in the AI revolution with us. And if India is interested—and of course it is—we are ready, willing, and look forward to embracing India as a partner and friend in that path.'With immigration, trade, and tech all in play, Lutnick's remarks signal a deeper realignment in US-India ties under a Trump administration, one that bets big on Indian entrepreneurship, capital, and Watch
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Business Standard
8 hours ago
- Business Standard
India, EU likely to go for comprehensive FTA; GI pacts to follow later
India and the European Union (EU) are likely to agree upon a comprehensive free trade agreement (FTA) instead of an interim deal, an official said on Tuesday. However, the proposed investment treaty and a pact on geographical indications (GI) may not be concluded simultaneously. The official said that the situation remains dynamic in the free trade agreement negotiations. Negotiations for the "comprehensive agreement" between India and the EU are progressing at a rapid pace, and the deal could be concluded before the year-end, the official added. Earlier, there were discussions that an early harvest trade pact may be finalised before going for a comprehensive deal. In June 2022, India and the 27-nation EU bloc resumed negotiations for a comprehensive free trade agreement, an investment protection agreement and a pact on GIs after a gap of over eight years. A GI is primarily an agricultural, natural or manufactured product (handicrafts and industrial goods) originating from a definite geographical territory. The negotiations stalled in 2013 due to differences over the level of opening up of the markets. On February 28, Prime Minister Narendra Modi and the European Commission President agreed to seal the much-awaited free trade deal by the end of this year. The India-EU trade pact negotiations cover 23 policy areas or chapters, including Trade in Goods, Trade in Services, Investment, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Trade Remedies, Rules of Origin, Customs and Trade Facilitation, Competition, Trade Defence, Government Procurement, Dispute Settlement, Intellectual Property Rights, Geographical Indications, and Sustainable Development. India's bilateral trade in goods with the EU was USD 137.41 billion in 2023-24 (exports worth USD 75.92 billion and imports worth USD 61.48 billion), making it the largest trading partner for goods. The EU market accounts for about 17 per cent of India's total exports, while the EU's exports to India make up 9 per cent of its total overseas shipments. In addition, the bilateral trade in services, in 2023, between India and the EU was estimated at USD 51.45 billion. Speaking to reporters here, French Minister of Foreign Trade Laurent Saint-Martin said that the agreement can be concluded in the coming weeks or months. "I am pretty optimistic about the fact that we can have an agreement in the coming weeks, coming months, because we have to showcase to the world that we do believe in trade, in freer trade, and not in a trade war. So this is what we agreed on with the minister," the French minister said after a bilateral meeting with Goyal.