Latest news with #Aatmanirbhar
Time of India
16 hours ago
- Business
- Time of India
India's wind energy capacity rises to 51.5 GW: Union Minister Pralhad Joshi
India 's wind energy capacity witnessed a rise of more than 10.5 per cent to 51.5 GW against 46.42 GW last year, Union Minister for New and Renewable Energy, Pralhad Joshi , said on Sunday. In a post on the social media platform X, the minister said on the occasion of Global Wind Day that with 51.5 GW capacity and rising, "we are moving towards an Aatmanirbhar Bharat, powered by innovation, green technology and sustainable progress". "On this Global Wind Day, let's celebrate the power of wind driving India's clean energy growth," Joshi noted. India's renewable energy sector has witnessed unprecedented growth under the visionary leadership of Prime Minister Narendra Modi . From solar to wind energy, our nation is paving the way for a brighter and more sustainable future, according to the minister. The total renewable energy capacity grew 17.13 per cent year-on-year to 226.74 gigawatts (GW) in May from 193.58 GW in the same month last year, as per the government data. Of the total, solar power capacity expanded 31.49 per cent to 110.83 GW from 84.28 GW in May 2024. According to Joshi, clean energy is shaping India's journey of progress and pride. India's solar energy capacity has taken a massive leap in the last 11 years, from a mere 2.82 GW in 2014. Solar energy has emerged as the new driving force of India's renewable energy thrust. The expansion in the installation of solar power generation capacity has been backed by a robust domestic production of solar cells and wafers, which was almost non-existent in 2014. India has now built a strong foundation with 25GW of solar cell production and 2GW of wafer production. Prime Minister Narendra Modi has fixed a target of 500 GW for renewable energy capacity by 2030 as part of the country's goal to reduce its carbon footprint in the fight against climate change.
Time of India
23-04-2025
- Business
- Time of India
Safeguard duty to curb influx of steel import from select countries: ISA
The government's decision to impose a 12 per cent provisional safeguard duty on imported flat steel products will help curb "the influx of cheap imports, primarily from China, South Korea, and Japan", the Indian Steel Association (ISA) said on Wednesday. According to the industry body, these countries alone contributed around 78 per cent to the overall imports in FY25. "This measure aims to curb the influx of cheap steel imports , primarily from China, South Korea, and Japan," the ISA said in a statement. Further, ISA said India became a net importer of finished steel for the second consecutive year, with imports reaching a nine-year high of 9.5 million metric tonnes in 2024-25. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Vatican reveals the reason for Pope Francis' death The Economic Times Undo ISA said that the DGTR has recommended this duty following an investigation initiated in December 2024. The probe revealed that the sharp increase in imports of non-alloy and alloy steel flat products was causing significant injury to domestic producers, it said. Live Events "We are grateful for the government's decisive move to impose a 12 per cent safeguard duty on flat steel products, much needed to stop imports arriving at predatory prices. This support will help investors to focus with renewed vigour for a capacity build-up towards 300 million tonnes by 2030 for an Aatmanirbhar Bharat and will set the cornerstone for a Viksit Bharat ," ISA president Naveen Jindal was quoted as saying in the statement. The government on Monday imposed a 12 per cent provisional safeguard duty for 200 days on five steel product categories, including hot rolled coils, sheets and plates, to protect domestic players from surge in imports. The decision follows a recommendation for the same by the Commerce Ministry's investigation arm DGTR. Last month, the DGTR suggested to impose the duty. "...the Central Government after considering the said findings of the Director General (Trade Remedies), hereby imposes...a provisional safeguard duty at the rate of twelve per cent ad valorem," according to a notification of the Department of Revenue. The government's action aligns India with other countries seeking to control foreign steel imports and protect domestic manufacturing sectors. By creating a level playing field, the safeguard duty is expected to reinvigorate investor confidence and accelerate the sector's contribution to national growth, ISA said.
Hans India
23-04-2025
- Business
- Hans India
Naveen Jindal lauds 12 pc safeguard duty on steel imports
New Delhi: Naveen Jindal, President of Indian Steel Association and Chairman of Jindal Steel and Power, on Tuesday welcomed 12 per cent safeguard duty on certain flat steel products for 200 days, effective from April 21. Jindal, who was pivotal in advocating for this safeguard duty, stated, 'We are grateful for the government's decisive move to impose 12 per cent safeguard duty on flat steel products, much needed to stop imports arriving at predatory prices'. 'This support will help investors to focus with renewed vigour for a capacity build-up towards 300 million tonnes by 2030 for an Aatmanirbhar Bharat and will set the cornerstone for a Viksit Bharat,' he said. In a decisive move to shield its domestic steel industry from a surge of low-priced imports, the Indian government has imposed 12 per cent safeguard duty on certain flat steel products for 200 days. This temporary measure aims to curb the influx of cheap steel imports, primarily from China, South Korea and Japan, which accounted for 78 per cent of India's finished steel imports in the fiscal year 2024-25. The Directorate General of Trade Remedies (DGTR) recommended this duty following an investigation initiated in December 2024. The probe revealed that the sharp increase in imports of non-alloy and alloy steel flat products was causing significant injury to domestic producers. India, the world's second-largest crude steel producer, became a net importer of finished steel for the second consecutive year, with imports reaching a nine-year high of 9.5 million metric tonnes in 2024-25. The safeguard duty is expected to provide much-needed relief to domestic steelmakers, particularly small and medium-sized enterprises, who have faced immense pressure from rising imports. Industry leaders, including JSW Steel, Tata Steel, Steel Authority of India, and ArcelorMittal Nippon Steel India, have supported the imposition of import curbs. India's National Steel Policy 2017 sets an ambitious target to increase the country's steel production capacity to 300 million tonnes by 2030. Achieving this goal requires substantial investment and confidence in the domestic market, both of which are bolstered by protective measures like the newly imposed safeguard duty.
