Mining sector seeks subsidy, lower GST to push electric HEMM adoption
The Federation of Indian Mineral Industries (
FIMI
) has urged the government to offer a subsidy of ₹10,000–15,000 per kWh on
electric Heavy Earth Moving Machinery (HEMM)
, citing steep costs as a key hurdle to adoption, ET reports.
'Electric HEMMs are priced nearly three times higher than diesel models, making them economically unviable for most operators,' the industry body said in a new report.
To further ease the transition, FIMI also recommended a uniform 5per cent
GST on retrofit kits
used to convert diesel trucks to electric. Currently, these kits are taxed by individual components, often attracting GST rates over 18per cent.
The proposals aim to support India's push towards
cleaner industrial practices
and reduce dependence on fossil fuels.
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
Boeing shares decline 8% pre-market after Air India crash
Shares of North American airplane manufacturer Boeing fell 8% in pre-market trade on NASDAQ after an Air India aircraft crashed near Gujarat's Ahmedabad airport Thursday (June 12, 2025). The private carrier informed that the London-bound Boeing 787-7 aircraft had 242 passengers and crew members combined on board. While the company is yet to make a statement, at the time of writing (6:50 a.m. ET), scrips of the Virginia-headquartered manufacturer were trading 8.02% lower at $196.83. Markets are to open at 9 a.m. ET (around 6:30 p.m. IST). The Boeing airplane crashed within minutes after it took off from Ahmedabad airport at 1:38 p.m. The exact reason for the crash has not been learnt yet. Read: Air India Ahmedabad-London flight crash Live Updates News agency PTI however learnt from senior officials that the aircraft gave a mayday call to ATC after departing from Ahmedabad airport. Thereafter, the ATC received no response to their calls. 'Immediately after departure from Runway 23, the Aircraft fell on the ground outside the airport perimeter. Heavy black smoke was seen coming from the accident site,' the official added. The private carrier has stated that the aircraft was carrying 242 passengers and crew members combined, including 169 Indian nationals, 53 British nationals, 1 Canadian national and 7 Portuguese nationals.
Time of India
2 hours ago
- Time of India
Ola's Krutrim upgrades Kruti to agentic AI assistant from chatbot
Ola 's artificial intelligence (AI) arm Krutrim launched indigenous agentic assistant, Kruti , months after the founder first teased the chatbot. This is a key announcement for the company, as ET had reported earlier this month that its other products are not seeing much traction. Founders and developers ET had spoken to saw Krutrim's large language models (LLMs) and cloud offerings as subpar and lacking technical maturity compared to hyperscalers. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dhoni's Exclusive Home Interior Choice? HomeLane Get Quote Undo The Bengaluru-based startup became India's first AI startup to reach unicorn status after it secured $50 million in funding in 2024 at a $1 billion valuation. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories
Economic Times
3 hours ago
- Economic Times
JioBlackRock Mutual Fund files draft documents with Sebi to launch its first 2 debt schemes
(Catch all the Mutual Fund News, Breaking News, Budget 2024 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online.
