ModiWatch: Bharatiya Janata Party (BJP) MPs and state lawmakers from Telangana met Prime Minister Narendra Modi in New Delhi on Wednesday.

Parliamentary affairs

Adani protests disrupt Parliament session: Both Houses of Parliament adjourned after opposition protests over Gautam Adani’s US indictment.

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Opposition considers debating banking laws amendment bill: Opposition bloc leaders weigh halting protests to debate the Banking Laws (Amendment) Bill, which proposes significant regulatory changes, with discussions potentially addressing broader financial governance concerns.

Waqf bill committee to seek deadline extension amid protests: BJP MP Aparajita Sarangi stated the Waqf (Amendment) Bill committee will seek an extension to submit its report by the 2025 Budget Session, as opposition members walked out over alleged procedural issues under chairperson Jagdambika Pal.

Telecom manufacturing schemes show $65.3 billion sales, $1.5 billion exports: Minister of State for Communications, Chandra S Pemmasani informed Lok Sabha that telecom manufacturing schemes, including the Production Linked Incentive (PLI) programme, achieved ₹65,320 crore ($7.9 billion) in cumulative sales, ₹12,384 crore ($1.5 billion) in exports, and ₹3,925 crore ($472 million) in investments.

Satellite communication reforms streamline licensing for mobile platforms: Minister of State for Communications informed Lok Sabha of reforms simplifying satellite communication licensing, easing compliance and reducing charges for licensees.

Satcom spectrum rules to prioritise administrative allocation: The government clarified in the Lok Sabha that satellite spectrum for communication services will be allocated administratively with a fee, except in cases of public interest or technical constraints.

Jaishankar questions Europe’s Russian oil stance

Jaishankar questions Europe's selective stance on Russian oil trade: External Affairs Minister S Jaishankar criticised Europe for expecting other regions to sever Russian oil ties while selectively maintaining its own.

Trade talks with France focus on India-EU agreements: Commerce Minister Piyush Goyal and French Minister Sophie Primas discussed the India-European Union (EU) Free Trade Agreement (FTA), Investment Protection Agreement, and Agreement on Geographical Indications, urging expedited political direction for early conclusion.

Goyal calls for deeper trade ties with France, Asia-Pacific: Commerce Minister Piyush Goyal urged stronger trade and tech collaborations with France and Asia-Pacific, citing $15 billion bilateral trade in 2024 and growth opportunities in aviation, cyber-security, and quantum technologies.

Closer ties on economic security with Japan: India and Japan held the first round of the Dialogue on Economic Security in Tokyo, focusing on resilient supply chains, critical infrastructure, and talent exchange.

$2 trillion export goal

FTAs drive $2 trillion export roadmap: Joint Secretary of the Department of Commerce, Vimal Anand, said free trade agreements (FTAs) have shown positive results, with new deals nearing finalisation under the 2023 foreign trade policy targeting $2 trillion in Asian exports.

Indian automobile sector eyes global top spot: The Indian automobile industry, valued at ₹22 lakh crore ($264 billion), aims to become the world’s largest within five years, according to Transport Minister Nitin Gadkari, citing its role as a top exporter, major GST (Goods and Services Tax) contributor, and job creator.

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Russia eyes train manufacturing in partnership with Indian firms: Russian railway firm TMH plans to invest in manufacturing facilities in India for domestic supply, backed by a ₹55,000 crore ($6.6 billion) contract to produce and maintain Vande Bharat sleeper coaches for 35 years.

Saudi Arabia explores refinery plans in Gujarat and Andhra Pradesh: Saudi Arabia is in talks for refineries in Gujarat and Andhra Pradesh, each with a capacity of 10-15 million tonnes annually, as part of its $100 billion investment commitment.

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Tamil Nadu offers land to Foxconn for battery energy storage project: According to The Economic Times, Tamil Nadu has offered 200 acres of land and an incentive package to Foxconn for its proposed battery energy storage system unit, with discussions reportedly in the final stages.

Adani Group denies US corruption claims

Adani executives face fraud charges, not foreign corruption: Adani Green Energy Ltd clarified that Gautam Adani, Sagar Adani, and Vneet Jaain face securities and wire fraud charges but are not implicated in bribery or US Foreign Corrupt Practices Act (FCPA) violations.

Adani Group faces $55 billion market cap loss after US charges: Adani Group reported a $55 billion loss in market capitalisation across 11 listed firms following US Department of Justice corruption allegations.

NTPC to invest in 20 GW nuclear power

NTPC targets 20 GW nuclear power: NTPC Ltd, India's largest power producer, plans to invest ₹3-4 lakh crore ($36-48 billion) to develop 20 GW of nuclear power capacity by 2047, contributing to the government's 100 GW nuclear energy goal.

Offshore mineral block auctions to begin today: Following legislative changes mandating auctions, the government will auction 13 offshore mineral blocks in the Arabian Sea and Andaman Sea today, offering resources such as construction sand, lime mud, and polymetallic nodules.

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