India has overtaken Japan to become the third-largest power in the 2024 Asia Power Index, driven by its economic growth, population, and global influence. According to India's Ministry of Information and Broadcasting, India’s Economic Capability rose by 4.2 points post-pandemic, with its growing workforce and economy
India and the US have agreed to set up a semiconductor fabrication plant to make chips that will be used in national security, next-generation telecommunications and green energy applications. The project will be enabled by support from Bharat Semi, 3rdiTech and the US Space Force. The fab titled “Shakti” (Power)
The United States and India have unveiled a roadmap to strengthen global clean energy supply chains, with a focus on creating high-quality jobs and accelerating global clean energy deployment. The partnership aims to unlock $1 billion in financing through the International Bank for Reconstruction and Development (IBRD) to support India’
Minister for Road Transport and Highways Nitin Gadkari announced plans to slash fossil fuel imports from ₹22 trillion to ₹4 trillion using hydrogen. At an event in Delhi, he discussed the hydrogen-powered Mirai car and the aim to produce hydrogen for $1 per kilogram, positioning India as an energy exporter.
In line with the Union Budget 2024-25, the Ministry of Finance has introduced the Foreign Exchange (Compounding Proceedings) Rules, 2024, replacing the previous 2000 rules. The updated regulations aim to simplify foreign investments by streamlining the compounding process, enabling faster application processing, and offering digital payment options. This revision aligns
Minister of Commerce & Industry, Piyush Goyal, expressed confidence that India's auto component sector will achieve a $100 billion export target by 2030, making it a major job creator. As India advances towards becoming the third-largest global economy, Goyal urged the auto industry to strive for global leadership,
Road Transport and Highways Minister Nitin Gadkari announced that India is experiencing significant growth in electric vehicle (EV) sales, with expectations to reach one crore annual sales by 2030, creating five crore jobs. Gadkari highlighted that nearly 30 lakh EVs are registered in the country, with 45% growth in EV
The Cabinet Committee on Economic Affairs, chaired by PM Modi, has approved 12 new projects under the National Industrial Corridor Development Programme (NICDP) with an investment of ₹286.02 billion. These projects, spanning 10 states and strategically placed along 6 major corridors, aim to create a network of industrial smart
