Centre offers ₹1,000 crore to MSMEs for energy efficiency initiatives
Launched nationally from Panipat, the scheme is being implemented by the Bureau of Energy Efficiency (BEE) and is designed to fast-track the adoption of advanced energy efficient technologies in MSMEs, an economic backbone employing millions and driving innovation across sectors.
As part of the national rollout, BEE has appealed to all State Governments to take immediate and focused action in scaling up implementation of the ADEETIE scheme. States have been urged to engage their State Designated Agencies (SDAs) to proactively educate stakeholders, identify eligible clusters, and provide end-to-end support to MSMEs for seamless technology transition.
'ADEETIE is a big boon to the MSME sector,' Akash Tripathi, Additional Secretary in the Ministry of Power and Director General of BEE said. 'We urge all States to capitalise on this opportunity from the very beginning to ensure the scheme's success and maximise benefits for their industries,' he added.
Secretary of BEE Milind Deora explained that the MoP has selected five States for implementing the scheme, including Telangana, to promote global energy efficiency technologies in the pharma industry. Apart from Baddi, Madgaon, Ahmedabad and Bidar, Medak has been selected under the ADEETIE scheme for the pharma sector.
Of the ₹1,000-crore budget, ₹875 crore is earmarked as interest subvention to ease access to concessional finance for energy efficient upgrades, while ₹50 crore is allocated for implementation and capacity-building. The initiative is expected to leverage total investments of over ₹9,000 crore, including significant lending by MSMEs themselves, media advisor (south) to BEE A. Chandrasekhara Reddy said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
an hour ago
- The Hindu
Make Koodal Nagar station a full-fledged railway junction: Agri & All Trade Chamber
The railways should make Koodal Nagar station a full-fledged railway junction, said Agri and All Trade Chamber president S. Rethinavelu here on Friday. Submitting a memorandum to the Divisional Railway Manager Om Prakash Meena, who assumed office recently, the chamber president said that by developing Koodal Nagar as a full-fledged junction, it would help people located in the northern side of Madurai city to use it and help decongest the existing railway junction. The Koodal Nagar railway station was primarily established to decongest Madurai junction, especially to shift the goods shed as the number of trains and passenger volume had increased manifold. However, the facility did not get the expected support over the years for various reasons. The railway station could be put to effective use as Koodal Nagar was well connected to the railway lines towards Dindigul, Chennai and further north. The station is strategically positioned to ease congestion at Madurai Junction and provides convenient access for residents in the northern parts of the city, provided the access and transport connectivity is well developed making it convenient for travellers needing to reach the City centre and the station infrastructure, including waiting room, signage, digital boards and other basic amenities, is upgraded. The railways can increase the number of express trains halting there, particularly for boarding and deboarding only. This will also considerably reduce the road traffic between north and south of Madurai city through the road bridges over the Vaigai river, to reach Madurai Junction. Considering the development of Tuticorin Port slated to become a Container Port with the arrival of Mother Vessel, the 'Dry Port' goods booking at Koodal Nagar, which was inaugurated long back, should be revived in full swing by putting up all the infrastructure needed. This will boost not only export from this region but also movement of goods Pan India to and fro Madurai, which is a Commercial and Industrial Centre. The chamber suggested upgradation of railway stations for industrial use. By converting underutilised stations into freight-handling hubs with modern loading/ unloading facilities, revenue generation would be assured. Provision of sidings for MSMEs engaged in bulk goods transport (e.g. agricultural produce, fireworks, textiles, salt, and seafood exports) helps both the railways and the users. Introduction of dedicated freight corridors or time slots for goods trains would minimise delay. Lastly, establishment of satellite goods terminals in industrial clusters such as Madurai–Koodal Nagar, Virudhunagar, Sivakasi, Thoothukudi, and Ramanathapuram would ensure overall growth and also give an impetus to the small and micro entrepreneurs in southern districts, Mr. Rethinavelu said. Chamber secretary K. Thirupathi Rajan and treasurer C. Ravikumar were present at the meeting with the DRM.
NDTV
3 hours ago
- NDTV
Why India Is Bound To Emerge Stronger From The Tariff Chaos
The Indo-US trade relationship, once a beacon of strategic partnership, has faced significant turbulence in recent months. The trade talks, initially aimed at fostering mutual economic benefits, descended into a stalemate as the US pressed India with ambitious and arguably unrealistic demands. Trump's administration sought extensive market access for American agricultural products, pharmaceuticals, and technology services, while imposing steep tariffs on Indian exports such as steel, aluminium, textiles, and IT services. These tariffs, coupled with demands that threatened India's domestic stakeholders, were met with resolute resistance from India, under the steadfast leadership of Prime Minister Narendra Modi. Committed to protecting the interests of farmers, fisheries, and Micro, Small, and Medium Enterprises (MSMEs), India refused to yield, prioritising its economic sovereignty. This principled stance, as noted by economists Stuart and Linda Stern in their 2023 book India's Economic Ascendancy: Navigating Global Trade Challenges, has not only safeguarded India's core sectors but positioned it to emerge stronger from the ongoing tariff chaos. The resilience of India's economy is a cornerstone of its ability to weather these tariff pressures with minimal disruption. Over the past decade, India has transformed into a diversified economic powerhouse, bolstered by strategic reforms and robust domestic demand. The 'Make in India' initiative, launched by PM Modi in 2014, has catalysed growth in manufacturing, reducing India's reliance on imports in critical sectors like electronics, pharmaceuticals, and defence. According to the Reserve Bank of India's 2024 Annual Report, India's foreign exchange reserves stand at a formidable $700 billion, providing a substantial buffer against external economic shocks. Furthermore, India's trade portfolio is increasingly diversified, with exports to the US constituting only 18% of its total exports in 2024, as reported by the Ministry of Commerce. The tariffs, which primarily target specific sectors, affect less than 10% of India's export revenue, limiting their overall impact. Domestic consumption, accounting for over 60% of India's GDP, continues to drive growth, fuelled by a burgeoning middle class and a thriving digital economy. The Unified Payments Interface (UPI), which processed over 140 billion transactions in 2024, exemplifies the strength of India's internal market. This economic fortitude ensures that India can absorb the tariff shock without derailing its growth trajectory. This tariff crisis presents India with a strategic opportunity to accelerate its pursuit of technological autonomy and expand its global market reach. The Atmanirbhar Bharat (Self-Reliant India) initiative, another visionary policy spearheaded by PM Modi, has driven investments in indigenous technologies, particularly in critical areas like semiconductors, 5G infrastructure, and renewable energy. The Production-Linked Incentive (PLI) scheme has attracted global tech giants like Apple, Samsung, and Foxconn, boosting electronics exports by 22% in 2024, according to the Ministry of Electronics and Information Technology. The tariff pressures have further galvanised India's focus on reducing dependence on foreign technology, with the $10 billion semiconductor mission set to commence domestic chip production by 2026. Concurrently, India is diversifying its trade partnerships to mitigate the tariff impact. Recent free trade agreements with the UAE and Australia, alongside ongoing negotiations for a UK-India FTA, reflect India's pivot toward new markets in the Middle East, Africa, and Southeast Asia. The Confederation of Indian Industry (CII) projects that India's exports to non-US markets could grow by 15-20% annually over the next five years, reinforcing its global economic clout. This dual strategy of tech autonomy and market diversification positions India to transform the tariff challenge into a catalyst for long-term growth. While India strengthens its economic foundations, the burden of these tariffs is poised to fall heavily on US consumers, potentially fuelling domestic resentment. Higher tariffs on Indian goods, including pharmaceuticals, textiles, and auto components, increase costs for American importers, who pass these on to consumers. A 2024 study by the Peterson Institute for International Economics estimated that such tariffs could raise US household costs by $1,200-$1,500 annually, disproportionately impacting middle- and lower-income families. US experts are already raising alarms over these consequences. Economist Joseph Stiglitz, in a 2024 op-ed in The New York Times, warned that protectionist policies risk exacerbating inflation and eroding consumer confidence, potentially leading to voter backlash. Similarly, a report by the US Chamber of Commerce (2025) highlighted that tariffs on Indian pharmaceuticals could disrupt supply chains for generic drugs, which account for 90% of US prescriptions, further driving up healthcare costs. As inflation remains a pressing concern in the US, these price hikes could spark significant discontent, underscoring the unintended domestic fallout of tariff policies. The tariff crisis has also reshaped the geopolitical landscape, creating opportunities for India to assert its global influence. By standing firm against coercive trade tactics, India has bolstered its reputation as a principled and independent power. This stance has opened the door to fresh alignments, particularly within the Russia-India-China (RIC) framework. Prime Minister Modi's proposed visit to Beijing for the 2025 SCO Summit and his recent call with Brazilian President Luiz Inácio Lula da Silva signal India's intent to deepen ties with BRICS partners. These diplomatic engagements, as noted by the Ministry of External Affairs (2025), reflect India's strategic balancing act, leveraging the tariff dispute to enhance its geopolitical leverage. The potential revival of RIC cooperation, alongside strengthened BRICS collaboration, positions India as a pivotal player in a multipolar world. By fostering these partnerships, India is not only countering US pressure but also shaping a new global order that prioritises mutual cooperation over unilateral demands. India's economy today is far stronger than in past decades, when external pressures could destabilise its markets. The tariff chaos, rather than weakening India, marks an inflexion point that highlights its economic resilience and strategic foresight. Under PM Modi's deft leadership, India has fortified its economic fundamentals, pursued technological self-reliance, and expanded its global footprint. As the US grapples with the domestic consequences of its tariff policies, India's diversified economy, robust reserves, and proactive diplomacy ensure it emerges not just unscathed but stronger. This moment could well define India's ascent as a global economic and geopolitical powerhouse, ready to chart its own course in an increasingly complex world.
&w=3840&q=100)
Business Standard
4 hours ago
- Business Standard
US tariff shock puts Indian MSMEs at risk, industry seeks govt support
MSMEs, which drive 45% of India's exports, warn of a $30 bn blow as US imposes steep tariffs; industry calls for urgent support and export market diversification New Delhi Listen to This Article India's micro, small and medium enterprises (MSMEs), which contribute over 45 per cent to the country's outbound shipments, are facing major disruption following the United States' decision to impose a 50 per cent additional tariff on Indian exports. MSME industry bodies have raised an alarm over the deep impact and are seeking immediate government intervention. Vinod Kumar, President of the India SME Forum, said the steep tariff hike could lead to an annual loss of over $30 billion in business, with MSMEs hit hardest due to their limited financial buffers and capacity constraints.
