Reliance-Tata bid to reduce panel imports from China
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.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.