The Indian Renewable Energy Development Agency (IREDA), a public sector undertaking (PSU) under the Ministry of New & Renewable Energy (MNRE), on Friday, invited bids for setting solar manufacturing units under the Centre’s Rs 4,500 crore Production Linked Incentive (PLI) scheme. The Centre had approved the scheme to boost domestic manufacturing of solar Photo Voltaic (PV) modules. These modules also called solar panels, use sunlight as a source of energy to generate direct current electricity. IREDA is the implementing agency for the scheme. The last date for submitting applications is June 30. The selection process for the successful bidders is to be completed by July 30. IREDA had floated the invitation for the application document on May 25 on its website and the electronic application process went live on May 31.
The number of Apple’s suppliers operating in India increased to nine in 2020, up from six in 2018. The growth of headcounts hired by Apple suppliers will accelerate in sync with the number of suppliers shifting their supply chains to India.
Apple supply chains shift of operation to India in line with the incentives provided by the government has reportedly created around 20000 job in the country to date
The Future Is Electric
The pandemic has not impacted the electric vehicle story adversely. In fact, it may have accelerated the shift
The pandemic may have come as a rude shock for doubting Thomases who believed that the future of mobility is something else. While sale of conventional passenger vehicles and two-wheelers in the country declined over 9 per cent and 13 per cent, respectively, in FY21, electric two- and four-wheelers bucked the trend and posted impressive growth.
Sales of electric two-wheelers surged over 64 per cent, while four-wheelers grew over 68 per cent. Yes, this is on a small base, but encouraging. In a year where nearly two months were lost due to lockdown, it is the clearest indication yet that after sputtering for years, the electric mobility story is on track towards an inflection point when it will become mainstream.
We look at the latest developments boosting the investment viability of India's IT sector, including push for local hardware manufacturing and 5G trials.