Reliance-Tata bid to reduce panel imports from China, read other news of the country
Other companies participating in the bid include First Solar Inc and JSW Energy, Avada Group, and Renew Energy Global. The financial aid is part of prime minister Narendra Modi's aim to turn the country into a manufacturing powerhouse, create more jobs in the economy and reduce imports that drain foreign exchange.
Several companies, including reliance industries and Tata Power, have bid for financial incentives worth 195 billion rupees linked to manufacturing solar panels. The government had announced incentives to reduce dependence on the import of solar panels from China. This will give a boost to domestic manufacturing.
Other companies participating in the bid include First Solar Inc and JSW Energy, Avada Group, and Renew Energy Global. The financial aid is part of prime minister Narendra Modi's aim to turn the country into a manufacturing powerhouse, create more jobs in the economy and reduce imports that drain foreign exchange. The government is incentivizing companies to increase the country's solar module manufacturing capacity to 90 GW.
Mumbai The sales growth rate of listed manufacturing companies slowed down to 10.6 percent in the third quarter of the current financial year. It was 20.9 percent in the second quarter of 2022-23.
According to RBI, sales of all manufacturing industries declined except cement. Similarly, the sales growth rate of listed private non-financial companies declined from 22.6 percent to 12.7 percent. However, information technology companies registered a growth of 19.4 percent. mumbai sbi may reduce its stake in Yes Bank. It picked up a 49% stake in march 2020. Later it was reduced to 26.14%. According to RBI, sbi cannot reduce its share before three years. This period ends on march 6, 2023.
Mumbai More than two dozen sugar mills in maharashtra have stopped crushing sugarcane early. Last year they closed the mills in April. maharashtra is on top in sugar production. Early closure of mills may reduce sugar production. A government official said that exports could be affected due to lower production of sugar. In such a situation, brazil and thailand will get a chance to increase exports.
