Latest News

India's Battery Scheme and Reliance, Ola Electric, Mahindra's Bid

India's Reliance Industries (RELI.NS), Softbank Group-backed (9984.T) Ola Electric, and automaker Mahindra & Mahindra (MAHM.NS) have delivered their tenders in accordance with the rules of India’s battery program (worth $2.4 billion).

In 2021, India motivated companies to capitalize in battery manufacturing, with a completion of an incentive plan. The goal is to set a local supply chain for green transportation as well as storing renewable energy.

In this respect, companies including Hyundai Global Motors, engineering conglomerate Larsen & Toubro (LART.NS), and battery makers Amara Raja (AMAR.NS) and Exide (EXID.NS) have, too, submitted their tenders, according to the Ministry of Heavy Industries. The investment plan is projected to expand local manufacturing along with growing direct investment of foreign countries in India, the ministry said.

India’s objective is to develop a huge battery storage capacity (a total of 50 gigawatt hours, Gwh) in five years, expectedly drawing direct investment worth $6 billion.

Companies are obliged to establish a minimum of 5 Gwh of storage capacity and conform to specific domestic content conditions to get qualified for the incentives. The ministry stated that ten companies have submitted tenders (overall nearly 130 Gwh). The country is also attracting great companies in the world, including Tesla Inc (TSLA.O), Samsung (005930.KS), LG Energy, Northvolt and Panasonic (6752.T), to invest in.  

To reduce pollution in main cities and minimize dependence on oil, India plans to clean automotive technology.

By 2030, the country intends to sell e-cars, e-motorcycles and e-scooters representing 30% of private car sales and 40% of such sales, respectively. In that wise, India will increase demand for batteries, now accounting for 35%-40% of overall vehicle costs.

Read more
By Saha on January 17, 2022

RBI Sets Up New Fintech Unit

Reserve Bank of India (RBI) has established a new FinTech department, which before was under the Department of Payment and Settlement Systems (DPSS). DPSS focuses on policy development, and control of payment and settlement system operators in India.

According to central bank’s circular, the new division, formed on January 4, 2022, will expand innovation in India’s financial technology (FinTech) sector, find out its challenges and opportunities and tackle them at the right time. 

The fintech unit’s foundations was laid in the Department of Regulation in 2018 to be the focal point in the RBI.   

In the circular, the RBI said the new fintech unit would provide a ground for developing research on subjects that help interventions from the central bank.

According to the RBI, the department will handle all the things associated with expedition of innovations in the sector, causing good effects on the financial sector as well.

The division, headed by Ajay Kumar Choudhary, has become active while the central bank anticipates to address coordination of India’s planned central bank digital currency (CBDC). The RBI aims to clear non-regulated cryptocurrency and be active in the blockchain network.

Read more
By Saha on January 10, 2022

India’s Pharmaceutical Sector to Grow in 2021-22

According to an estimation by Ratings agency ICRA, thanks to emerging markets, India’s pharmaceutical sector will develop by 9%-11% in this fiscal year.

Surveying a sample set of 21 pharmaceutical firms, ICRA stated that increase in revenue was 6.4% in the second quarter of this fiscal year, compared to 16% in the first quarter.

The low growth in the second quarter of the present fiscal year, despite a stable increase in national and emerging markets, was brought about by normalization of the US market base and price suppression, as declared by the agency.


Mythri Macherla, Assistant Vice President and Sector Head at ICRA said that in the fiscal years of 2021-22 and in 2022-23, growth in revenue for ICRA sample set is evaluated at a rate of 9% to 11%.

This happens as a result of a slow recovery after the pandemic. She declared that based on the estimation, the sample set has seen a boost, 14-16% in the emerging markets, 13-15% in the national market, and 9-11% in the European markets. According to her, field force activities, normalization in foot traffic of hospitals, growth in emergent therapies as well as good pricing system caused a boost in revenues in companies.

Considering the news on the Omicron variant, the maintenance of trends in doctors’ visits along with elective surgeries as well as new launches functioning and revenue increase rate in critical segment will chiefly be monitored.

ICRA also said that rising markets were great performers with a sturdy year-over-year boost within the second quarter of the present fiscal year.

Read more
By Saha on January 8, 2022

Will India's Economy Power up Again?

As the flourishing shopping time of the year approaches, many troubled manufacturers and businessmen in India are enthusiastically waiting for a recovery in their businesses and stores. Many Indians, who have been broke or bankrupt after the coronavirus pandemic, might not be able to try shopping like the years before. In the meantime, the Indian Prime Minister, Narendra Modi, will find it hard to recover the considerable growth experienced from 2016 to 2017. With economic recession in India and many countries across the world due to the ominous Covid-19, the shopping period, October through December, will see a huge difference as social distancing doesn’t allow the usual customers take risk shopping. Samira H.
Read more
By Samira Hassanzadeh on October 19, 2021

India Launches Green Hydrogen Production

India’s green hydrogen initiative has been agreed upon by Fusion Fuel Green and BGR Energy Systems. They will establish related facilities in Tamil Nadu, a south Indian state, this year. The aim is to expand green hydrogen plan in the country. Fusion Fuel Green, with offices in Portugal and Ireland, will provide Tamil Nadu’s plant with technology to produce hydrogen from solar energy. The plant will apply the generated hydrogen in heavy industrial processes. Blue hydrogen, despite its green version, comes from hazardous fossil fuels. Highly-expensive to generate, the green hydrogen supplied only 0.1% of the hydrogen produced in the world in the last year, as stated by Wood Mackenzie. India’s Prime Minister, Narendra Modi, talked of starting a “National Hydrogen Energy Mission” last year. The mission to produce hydrogen from renewable energy resources is underway in the years 2021 to 2022. Samira H.
Read more
By Samira Hassanzadeh on October 19, 2021

India's Pharma To Stop Dependence from China

In the wake of the row between China and India over border in June 2020, India is focusing on self-sufficiency in active pharmaceutical ingredients (API). Despite being famous in the world for huge potential to produce drugs, China provided the country with half of API it needed in the year 2019. India, also, had to go through disruption for its raw ingredients from China at the beginning of 2020 following the pandemic. Administrators in pharmaceutical companies including Cadila Healthcare, ‎Biocon, Cipla and Sun Pharmaceutical Industries Ltd. recently announced they aim to cut reliance on China. In the meantime, Prasad Deshpande, Global Head of Supply Chain and Central Engineering at Biocon pointed to the figures gained last quarter. He said in the quarter India was nearly 50% independent from China. The country’s infrastructure should be bettered to facilitate things to keep up with China. Samira H.
Read more
By Samira Hassanzadeh on October 19, 2021


Enter your email address below to subscribe to our newsletter and keep up to date with the latest news, discounts and special offers.

Latest Comments