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India Gazette
4 hours ago
- Business
- India Gazette
"India an admirable partner, respected friend and source of inspiration": Paraguay President
New Delhi [India], June 3 (ANI): Paraguay President Santiago Pena Palacios has called India an 'admirable partner, respected friend, and source of inspiration' in many sectors. He noted that Paraguay has joined the International Solar Alliance and achieved full membership in the Global Biofuel Alliance and it looks forward to working closely with India to promote a fair, innovative, and sustainable energy transition. Speaking at a banquet hosted in his honour by President Droupadi Murmu at Rashtrapati Bhavan on Monday, President Pena said, 'I wish to express my sincere gratitude to Madam President Murmu for her generous hospitality and for this beautiful event, which so eloquently reflects the warmth of the Indian people. India, the world's largest democracy, which is an economic dynamism and cultural richness, represents an admirable partner, a respected friend, and a source of inspiration in many areas. This official visit provides a valuable opportunity to further strengthen our bilateral relationship, which, despite the geographic distances, is grounded in shared values, mutual respect and a firm commitment to build a prosperous future together. He noted that Paraguay values India's openness to supporting power ways in developing technical capacities in renewable energy, projects that foster sustainable fuel production, and the implementation of cutting-edge technologies. He said, 'Indian investment in strategic sectors of the Paraguayan economy, such as steel, manufacturing and services, bear witness to the mutual trust and the great potential that exists to further enhance our ties. Paraguay values India's growing presence and support through an open, predictable and private sector friendly policy. 'The recent attainment of investment-grade status is a clear demonstration of our sound institution and a very long-term vision. We are also united by a shared commitment to sustainable development. Paraguay is honoured to have recently joined the International Solar Alliance and to have achieved full membership in the Global Biofuel Alliance. In both forums, we look forward to work closely with India to promote an energy transition that is fair, innovative and sustainable. We especially value India's openness to support powerways in developing technical capacities in renewable energy, as well as in projects that foster sustainable fuel production and the implementation of cutting-edge technologies,' he added. He emphasised that Paraguay holds in high regard India's remarkable path toward modernisation and its growing leadership in multilateral forums. He mentioned that Paraguay is transforming its productive matrix, backed by solid institutions, macroeconomic stability, and a vision centred on the well-being of people He said, 'Like India, Paraguay is proud of its history and devoted to the well-being of our people. I would like to take this moment to pay symbolic tribute to the great Indian nation, which has faced challenges throughout its history, with courage and determination, and which today emerge as a global power. Paraguay holds in high regards India's remarkable path toward modernization and its growing leadership in multilateral forums. 'My country is steadily transforming its productive matrix, backed by solid institutions, macroeconomic stability, and a vision centered on the well-being of our people. We are pleased to see how, within this framework, our relations have significantly deepened in recent years. Today, we share a more dynamic and concrete agenda,' he added. He stated that the banquet at Rashtrapati Bhavan demonstrates deep convergence between the two nations that recognise each other in shared principles and a mutual determination to build a more 'just and equitable order.' Stressing that people of Paraguay have been having growing interest in India, he said, 'I would also like to highlight the growing inspired among Paraguayan citizens, an interest that has been reinforced through educational cooperation, particularly via the Government of India's Technological and Economic Cooperation Program, which has enabled many of my compatriots to receive specialized training at renowned institutions.' 'This gathering reflects the deep convergence between two nations that recognize each other in shared principles and a mutual determination to build a more just and equitable international order. As Mahatma Gandhi wisely said, the future is not something we wait for passively. It is something we forge through each decision we make. That ethical and proactive vision, so deeply rooted in Indian thought, also guides Paraguay's global engagement. May this visit mark a new chapter in the history of our bilateral relationship, one that is built on trust, on joint action, and the conviction that ties between nations can and must serve as an engine of transformation for our people,' he added. President Murmu received Paraguay's counterpart, Santiago Pena Palacios, at Rashtrapati Bhavan and hosted a banquet in his honour on Monday. Vice President Jagdeep Dhankhar, his wife, Sudesh Dhankhar, and other dignitaries attended the banquet. In a post on X, the Vice President of India stated, Hon'ble Vice-President, Shri Jagdeep Dhankhar, attended the banquet hosted by Hon'ble President of India, Smt. Droupadi Murmu Ji in honour of Hon'ble President of Paraguay, Mr. Santiago Pena Palacios, at Rashtrapati Bhavan today.' Welcoming Paraguay President to Rashtrapati Bhavan, she said, 'It gives me great pleasure to extend a warm welcome to His Excellency President Pena and a distinguished delegation from Paraguay at the Rashtrapati Bhavan on their first state visit to India. This is a historic occasion. Since the establishment of diplomatic relations between our two countries in 1961, this marks only the second visit to India by a President of Paraguay.' She emphasised that the two nations share 'warm and friendly relations' based on mutual trust, democratic values, and a shared commitment to the progress and development of the people of the two nations. Highlighting the warm bilateral ties between the two nations, she said, 'Our two countries share warm and friendly bilateral relations based on mutual trust, democratic values and a shared commitment to the progress and development of our people. Both our countries have steadfastly upheld the principles we believe are important, principles deeply rooted in our civilizational values and historical experiences.' (ANI)
Entrepreneur
4 days ago
- Business
- Entrepreneur
Powering Progress: Jitendra Singh Charts India's Green Future
Recounting the country's journey from being a cautious participant to a climate frontrunner, Dr Singh credited initiatives such as Mission LiFE, the International Solar Alliance, and the Net Zero 2070 goal. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. In a landmark address, Union Minister of State (Independent Charge) for Science and Technology, Dr Jitendra Singh, outlined an ambitious roadmap for India's clean energy future. Emphasising innovation and sustainability, Dr Singh asserted that a robust battery ecosystem and low carbon technologies are pivotal for India's ascent from the recently achieved 4th largest economy to the 3rd position globally, while also aligning with the nation's Net Zero 2070 commitment. The remarks came during Battery Summit 2025, held under the theme "Addressing Challenges, Driving Innovation and Scaling Solutions," where key stakeholders from government, industry, and academia convened to chart India's clean energy transition. Dr Singh underscored the critical need to harness unexplored resources and push the boundaries of technological advancement. "Innovation in low carbon sectors and exploration of untapped reserves will not only drive economic value but also significantly reduce our carbon footprint," said Dr Singh. A key highlight of the summit was the launch of the Battery Aadhaar Initiative under the Department of Science and Technology (DST). Described by Dr Singh as a "game changer", Battery Aadhaar aims to digitally tag every battery pack with a unique identity, enhancing traceability, safety, lifecycle management, and recycling efficiency. "Battery Aadhaar will facilitate predictive maintenance, curb counterfeiting, and ensure end-to-end battery traceability. It's a cornerstone for India's emerging battery intelligence ecosystem," he declared. The initiative integrates seamlessly with Battery Management Systems (BMS), AI-powered diagnostics, and national EV databases, enabling real-time monitoring of thermal events, charge cycles, and overall performance—paving the way for a resilient and circular battery economy. Dr Singh also spotlighted the recent discovery of Lithium reserves in Jammu & Kashmir, which he termed as a "strategic resource" for India's clean energy ambitions. He called for intensified efforts to harness such natural assets in line with Net Zero targets. "These reserves will play a vital role in reducing our dependency on imports and accelerating the transition to electric mobility," he noted. Highlighting progress in clean tech, the Minister praised government-backed programs like the PLI Scheme for Advanced Chemistry Cells, PM-eDrive, and FAME, as well as the MAHA-EV Mission under the Anusandhan National Research Foundation (ANRF). Recounting the country's journey from being a cautious participant to a climate frontrunner, Dr Singh credited initiatives such as Mission LiFE, the International Solar Alliance, and the Net Zero 2070 goal. In terms of innovation, Dr Singh shared that India has moved from 81st to 39th in the Global Innovation Index, and now boasts over 1.7 lakh startups, making it the third-largest startup ecosystem worldwide. The DST's budget saw a 926% increase, a testament to the government's focus on science and technology. The Minister stressed the importance of private participation, citing that 60% of NRF funding will come from the private sector. Strategic missions like the National Quantum Mission, AI Mission, and National Supercomputing Mission were highlighted as future growth engines. "Our focus must be on indigenising technology, boosting domestic manufacturing, and creating a collaborative innovation ecosystem," Dr Singh urged. The summit witnessed participation from leading figures including Prof Abhay Karandikar (DST), Asher Lessels (UNEP), Dr Anita Gupta (DST), and Madhav Pai (WRI India), reinforcing a shared commitment to a sustainable and innovation-driven future. Dr Singh also lauded WRI India and its Battery360 Alliance, as well as support from UNEP, NITI Aayog, and the Global Environment Facility (GEF), emphasising that such collaborations are vital to ensuring India's leadership in clean energy transformation.
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Business Standard
5 days ago
- Politics
- Business Standard
India's right to self-defence backed globally: S Jaishankar in Italy
External Affairs Minister S Jaishankar on Wednesday (May 28) said that India gave a 'firm, resolute and measured' reply to the Pahalgam terror attack by targeting and destroying terror camps and launchpads. He added that India's right to protect its people from terrorism has been acknowledged globally. Speaking at an event held at the Italian Embassy in New Delhi to celebrate Italy's National Day, Jaishankar thanked the Italian government for standing with India after the "barbaric" terror incident on April 22, which claimed 26 lives. 'We are thankful for Italy's solidarity and support to India following the barbaric terror attack in Pahalgam in Jammu and Kashmir. India gave a firm and resolute and measured response by destroying the relevant terror centres and launchpads,' he said. Operation Sindoor and global support Under Operation Sindoor, Indian forces carried out targeted strikes and destroyed nine terror facilities in Pakistan and Pakistan-Occupied Kashmir in retaliation for the Pahalgam killings on May 7. Jaishankar said, 'India's right to defend its people against acts of terror has also been recognised by countries across the world. We believe that the world will have zero tolerance for terrorism and cross-border terrorism.' Strengthening India-Italy ties The minister highlighted that relations between India and Italy are steadily improving. 'India-Italy relations are undoubtedly on an upward trajectory,' he said. He noted that the strategic partnership between the two nations is built on shared values and mutual interests, which are reflected in their cooperation in platforms such as the G20 and G7. Prime Minister Narendra Modi and his Italian counterpart Giorgia Meloni have also met regularly during these global meetings. Collaboration in global initiatives Jaishankar added that India and Italy are working together on several international initiatives. These include the India-Middle East-Europe Economic Corridor, Global Biofuels Alliance, Indo-Pacific Oceans Initiative, International Solar Alliance, and the Coalition for Disaster Resilient Infrastructure. 'Our bilateral relations have intensified after adoption of the Joint Strategic Action Plan for 2025-29, by our Prime Ministers last November. We are hopeful that the roadmap provided in the JSAP will result in concrete and practical outcomes for our societies and peoples,' he added. Trade and diaspora ties The minister said that trade and economic collaboration play a key role in the India-Italy relationship. He also acknowledged the significant presence of the Indian community in Italy, describing it as one of the largest Indian diasporas in Europe, who are respected for their contributions across various sectors. Highlighting common interests in maritime security, Jaishankar said, 'Either in the Indo-Pacific or Indo-Mediterranean, as peninsular nations, India and Italy share maritime interests and a commitment to ensuring freedom of navigation and shipping. Italy's greater presence in the Indo-Pacific Region as well as its undertaking activities surely boost our cooperation further.' He concluded by reaffirming India's dedication to deepening the strategic partnership with Italy. 'There is a new momentum of political dialogue, of visits, of interest in each other's potentials, which I am confident will be tapped by stakeholders,' he said.
Time of India
6 days ago
- Politics
- Time of India
India's right to defend its people against terrorism recognised by various countries: Jaishankar
India gave a "firm, resolute and measured" response by destroying terror centres and launchpads in the wake of the Pahalgam attack, and the country's right to defend its people against terrorism has also been recognised by nations across the world, External Affairs Minister S Jaishankar said on Wednesday. In his address at an event held at the Italian embassy here, he also recalled the solidarity expressed by Italy following the "barbaric" terror attack on April 22 in which 26 lives were lost. The external affairs minister underlined that India-Italy bilateral ties are "undoubtedly on an upward trajectory". by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like [단독] 서울 임플란트 '33만원' 에 가능해 플란치과 더 알아보기 The event was hosted this evening to mark Italy's National Day. "We are thankful for Italy's solidarity and support to India following the barbaric terror attack in Pahalgam in Jammu and Kashmir. India gave a firm and resolute and measured response by destroying the relevant terror centres and launchpads," Jaishankar said. Live Events India decimated nine terror camps in Pakistan and Pakistan-Occupied Kashmir with precision strikes early on May 7 under Operation Sindoor , in response to the dastardly Pahalgam massacre. "India's right to defend its people against acts of terror has also been recognised by countries across the world. We believe that the world will have zero tolerance for terrorism and cross-border terrorism," he said. In his address, Jaishankar said India's strategic partnership with Italy is based on "shared values and converging interests". This is evident on platforms like G20 and the meetings between Prime Minster Narendra Modi and his Italian counterpart Giorgia Meloni at G20 and G7 fora. He underlined that India's partnership with Italy is also in multilateral initiatives such as the India-Middle East-Europe Economic Corridor, Global Biofuels Alliance, Indo-Pacific Oceans Initiative, International Solar Alliance, and the Coalition for Disaster Resilient Infrastructure. "Our bilateral relations have intensified after adoption of the Joint Strategic Action Plan for 2025-29, by our Prime Ministers last November. We are hopeful that the roadmap provided in the JSAP will result in concrete and practical outcome for our societies and peoples," he said. Trade and economic cooperation form an "important pillar of our partnership", the external affairs minister added. Jaishankar also underlined that the the Indian diaspora in Italy is among the largest in Europe, and they are well received and appreciated for their contribution in various sectors. In his address, he said, "Either in the Indo-Pacific or Indo-Mediterranean, as peninsular nations, India and Italy share maritime interests and a commitment to ensuring freedom of navigation and shipping. Italy's greater presence in the Indo-Pacific Region as well as its undertaking activities surely boost our cooperation further," he said. Jaishankar asserted that "India-Italy relations are undoubtedly on an upward trajectory". "There is a new momentum of political dialogue, of visits, of interest in each other's potentials, which I am confident will be tapped by stakeholders," he said. He also reiterated the Indian government's commitment to consolidate India-Italy Strategic Partnership.
Mint
6 days ago
- Business
- Mint
Renewable tariff rise likely as insurance premium climbs after border conflict
New Delhi: Upcoming solar and wind energy projects along the border with Pakistan may demand more for their power as they pay higher insurance premiums to protect against risks from war, three industry executives said. This follows the recent military conflict between India and Pakistan where areas along the border suffered aerial attacks. Some of India's largest solar and wind power projects are located in Gujarat's Kutch district and Rajasthan's Bikaner, Barmer and Jaisalmer districts. Rajasthan and Gujarat receive the highest solar radiation in India, ideal for solar projects. The two states have a combined solar and wind capacity of about 43 GW, with more in the pipeline. The war component in insurance premium has jumped as much as threefold since the conflict, said Narayan Kumar, CEO of Kshema Power & Infrastructure Co. Pvt. Ltd, a green EPC (engineering, procurement, and construction) services provider. This, he said, will add 10-12% to the insurance cost. 'Apart from the concerns of damage, there may be instances of blackouts and power grid shutdown in times of conflict, which would impact the operations. So, insurance companies are now also looking at coming up with business interruption coverage, which would add to the insurance cost. Further, the possibility of enhanced security apparatus at the generation locations and other associated infrastructure would also come with an added cost." Developers taking up projects along these areas may see an increase of 3-5 paise in the tariffs, he added. Also read | International Solar Alliance to collaborate with Mauritius on solar power roadmap, regulatory frameworks Queries emailed to the Union ministry of new and renewable energy remained unanswered till press time. Rajasthan and Gujarat have large land parcels along the western border that contribute more than 35%, or 39 GW, of India's installed solar capacity of 105.65 GW. The region has several solar parks, including the Khavda RE Park in Gujarat's Kutch district, which is expected to be the largest renewable energy park in the world with a cumulative capacity of 50 GW. It is just a kilometre away from the Pakistan border, and therefore vulnerable to attacks during a military conflagration. Neerav Nanavaty, chief executive officer (CEO) of Gurugram-based renewable power platform BluPine Energy, said that India should consider setting up more renewable capacity in other regions of the country, and diversify the regional concentration of projects to lower geopolitical risks. "To ensure long-term resilience, India must diversify renewable capacity across other high-potential regions like central India, the northeast, and hilly states—despite higher costs and logistical hurdles. Western India has long been the engine of India's solar growth, blessed with high irradiation levels and progressive governance. But this concentration, while efficient, also creates a risk for our national energy security. A geographically balanced renewable network will help mitigate both geopolitical and climate risks," Nanavaty said. With an installed renewable energy capacity of 231.81 GW, India is a hot destination for investments in sustainability and new energy space. India is projected to require investments of around $200 billion to establish renewable projects by 2030, according to Nomura, as it eyes to achieve a cumulative non-fossil capacity of 500 GW by then. Read this | Solar energy investments in developing countries down 20%, says ISA However, Narayan Kumar of Kshema Power & Infrastructure said that tighter security measures to protect these assets in the border areas would be key to sustaining investor interest, which would in turn raise the cost of operations and maintenance. A second industry executive said on the condition of anonymity that although insurance cost does not constitute a major part of the expenditure of a power developer, in case premiums surge then the per unit generation cost may go up by about 3 paise per unit, which may reflect in the tariffs. Currently, solar power tariffs average around ₹2.6, and the lowest tariff so far for solar is ₹2.15 per unit, discovered in December 2024. For wind power projects, tariffs average around ₹3 per unit and in the case of round-the-clock (RTC) and firm and dispatchable renewable energy (FDRE) projects, which include storage capacity, tariffs are in a range of ₹3-4 per unit. Vikram V, vice-president & co-group head - corporate ratings, Icra Ltd, said: "In case of an additional insurance coverage requirement like war, the insurance premium for solar projects is likely to go up. Given that the prevailing annual insurance cost for a 100 MW solar project is less than ₹1 crore, it is unlikely to have a significant impact on the operating costs for the developers. Hence, the consequent impact on bid tariffs for solar power projects is expected to be limited." Also read | Maharashtra's new power tariff proposal gives jitters to solar companies On 9 May, Mint reported that insurance premiums for renewable energy are likely to increase amid escalating tensions between India and Pakistan, raising the overall cost of these projects. Several renewable energy companies do not have a war coverage in their insurance policies, and are now looking for an added coverage in view of the current scenario, and that comes at a higher cost. Dnyanraj Desai, partner, Shardul Amarchand Mangaldas & Co, said: "These are high-value projects and the premiums are already going up for the projects near the border. It may lead to a 1-2% increase in the overall project cost. Lenders may also seek coverage of such eventualities in the insurance policies for renewable projects in the borders states and such covenants would be included in the agreements. The projects in these regions for which power purchase agreements are yet to be signed and tenders are to be floated, tariffs would factor in the higher cost." Azeem Kanjiani, member, executive board, reinsurance, Prudent Insurance Brokers, had earlier told Mint that projects typically have an annual policy in place for riots, strikes and malicious damage, and that there is a separate policy to cover terrorism and sabotage. 'Hence, the current projects are largely indifferent. Having said that, war cover is sought by most projects, and infrastructure risks will attract significant premium, if war cover is indeed available. Projects up to 200 km from the border would be uninsurable for war. Other projects might get war cover depending on occupancy and exposure. Some insured (projects) have availed war cover and they perhaps would be the ones at peace. Having said so, the war portion can be cancelled with notice of three to seven days," Kanjiani added. And read | Sunny side down: The many gaps in India's solar story
