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Incentives for solar energy sector:
Incentives for solar energy sector: Context: The Union Cabinet has approved two production-linked incentive schemes for: White goods (air-conditioners and LED lights). High-efficiency solar photovoltaic modules. About the PLI scheme: The prime objective of the PLI scheme is to make manufacturing in India globally competitive by removing sectoral disabilities, creating economies of scale and ensuring efficiencies. It is designed to create complete component ecosystem in India and make India an integral part of the global supply chains. The scheme would extend an incentive of 4% to 6% on incremental sales of goods made in India for five years. Benefits: Additional 10,000 MW capacity of integrated solar PV manufacturing plants. Direct investment of around Rs.17,200 crore in solar PV manufacturing projects. Demand of Rs.17,500 crore over 5 years for ‘Balance of Materials’. Direct employment of about 30,000 and Indirect employment of about 1,20,000 persons. Import substitution of arou...
BIMSTEC needs to reinvent itself
BIMSTEC needs to reinvent itself Context: The foreign ministers of BIMSTEC (the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) met virtually on April 1. That they made time to hold their 17th meeting is good news. Their major task was to pave the way for the next summit, the grouping’s fifth, due to be held in Sri Lanka in the “next few months”. While most multilateral groupings from G20 to ASEAN (Association of Southeast Asian Nations) and SCO (Shanghai Cooperation Organisation) held their deliberations at the highest political level in the midst of the COVID-19 pandemic in 2020, BIMSTEC leaders failed to do so. In contrast to a meeting of even SAARC (South Asian Association for Regional Cooperation) leaders held at India’s initiative a year ago, BIMSTEC could not arrange its ministerial meeting until April 2021. This is due as much to contextual factors as the diplomatic environment prevailing today. B...
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