Sectors

The Cabinet was apprised of a Memorandum of Understanding between Saudi Arabia and India for setting up a framework for cooperation in the field of renewable energy such as technologies.

The travel services market in India is expected to post a CAGR of close to 19% during the period 2020-2024, according to the latest market research report by Technavio.

Representatives of the Agro-processing and Rural Development sectors have told Finance Minister Nirmala Sitharaman to boost investment in agricultural sector and enhance market access to farmers.

The Asian Development Bank (ADB) has signed a US$250 million loan for Energy Efficiency Services Limited (EESL) to expand energy efficiency investments in India that will benefit agricultural, residential and institutional consumers.

Noting that India plays a vital role in curbing global emissions, Bank of America is providing a local currency revolving credit facility to Fourth Partner Energy, one of the country’s largest distributed solar companies in India.

Indian oil marketing companies have guaranteed buying energy from the 5,000 compressed biogas plants (CBG) being built across the country, Petroleum and Natural Gas Minister Dharmendra Pradhan has assured.

The Government has approved the 100% stake sale in Air India via a specific alternative mechanism, Civil Aviation Minister Hardeep Singh Puri has told the parliament on 12 Dec 2019.

The Cabinet  has approved for signing the Memorandum of Cooperation (MoC) to constitute the ‘India-Japan Steel Dialogue’ to strengthen cooperation in steel sector and coal MoU.

The Indian Renewable Energy Development Agency (IREDA) is planning to set up a dedicated “Green Window to serve the unserved segments of renewable energy”, New and Renewable Energy Ministry Secretary Anand Kumar said on 11 Dec 2019.

In a move to attract investments, the Goods and Services Tax has been reduced to 5% on electric vehicles (EVS) from 12% and 28% with 22% cess for conventional vehicles.