Page 2 - Heavy Industry Ministry

Tata Motors secures first CMVR approval for its hydrogen FCEV buses

FCEV is a type of electric vehicle that uses hydrogen fuel cells to generate electricity instead of relying solely on batteries

Hero Electric seeks to settle Rs 140 crore penalty imposed by MHI

As a result, Hero Electric has made it clear that it, too, is willing to make a similar settlement of any violations that the ministry might ascertain after examining its case

MHI orders probe to investigate role of govt officials in FAME scam

The action comes several months after the ministry instructed 13 companies to reimburse improperly claimed subsidies

Piyush Goyal to attend IPEF next week, meet execs for India investment

The IPEF ministerial meeting is scheduled to take place during November 13-14, which is likely to see 'significant updates' on the progress of negotiations

Production of 50 GWh battery cells to start in early 2024: MHI Minister

Currently, batteries are only assembled in India, with cells imported primarily from China, Taiwan, and European nations

Heavy Industry ministry's special cleanliness campaign yields Rs 5.7 cr

A special campaign by the Ministry of Heavy Industries led to revenue generation of Rs 5.71 crore through scrap disposal sale of 53,796 files, the Centre said on Tuesday. The cleanliness drive, -- part of a nationwide cleanliness drive -- was carried out at 101 identified sites of various units of the CPSEs and autonomous bodies (ABs) under Special Campaign 2.0 of the Ministry of Heavy Industries from October 2 to 31, 2022, which led to the weeding out of 52,445 files. In addition, 1,351 physical files were weeded out resulting in freeing the space by 12,349 sq.ft. as efforts under Special Campaign 2.0 were continued post-campaign through November 2022 to August 2023. The campaign focused on disposal of pendency, achieving space management, and making the Ministry and its Central Public Sector Enterprises (CPSEs) and Autonomous Bodies (ABs) across the country more efficient.

SMEV seeks clarity from Heavy Industries Ministry over refund of subsidies

Electric two-wheeler makers body SMEV on Friday sought clarifications from the Ministry of Heavy Industries about its claim for refund of subsidies from some OEMs who did not comply with phased manufacturing programme (PMP) norms. Pointing out that the basis for refund would only mean that the processing of subsidies and the official reimbursement was done faultily, it has asked for the ministry (MHI) to clarify if it intends to thus cancel all subsidy claims during this period for all OEMs (Original Equipment Manufacturers), SMEV said in a letter to Heavy Industries Secretary Kamran Rizvi. The letter also sought the legal basis for the refund amounts since they do not conform to any stated mechanism in the rules. SMEV had earlier offered a solution to the issue through recovery from customers directly which would have cleaned off the subsidy slate completely. "The Ministry is in debt to OEMs to the tune of Rs 1,200 crore. If their demand for refund of earlier paid subsidies to the

Govt's battery swapping policy for EVs faces resistance from industry

Finance Minister Niramala Sitharaman first talked about the battery-swapping plan in her budget speech in February 2022

Heavy industry ministry's actions sabotaging FAME-II: SMEV to Niti Aayog

The Society of Manufacturers of Electric Vehicles has written to Niti Aayog, urging to conduct a comprehensive review of the Faster Adoption and Manufacturing of Electric Vehicles (FAME) II scheme and claimed that actions of the heavy industries ministry are "sabotaging" the policy. In a letter to Niti Aayog Chairperson Suman K Berry, Society of Manufacturers of Electric Vehicles (SMEV) Secretary General Ajay Sharma said actions of the ministry over the past 18 months are likely to impact sales and substantially delay the process of electric vehicle (EV) adoption and penetration in the country. The industry body pointed out withholding subsidies, demanding retrospective clawbacks of subsidies given in 2019, delisting companies from the NAB (National Automotive Board) portal, and the latest move to slash subsidies by the Ministry of Heavy Industries (MHI) and called them "a series of detrimental actions". The "subsidy blockade, clawback notices, and embargo on future sales are ...

FAME II scheme: Hero Electric, Okinawa Scooters claim 'no violation'

Hero Electric, on the other hand, said that their case was being settled in a manner similar to that of Ola, Ather, TVS, and other companies

SMEV welcomes MHI's efforts to sort out pending issues with OEMs

The permissible imports should have been much higher to start with, say 70%: SMEV

India will become third largest economy in the world: Mahendra Nath Pandey

Union Minister for Heavy Industries Mahendra Nath Pandey on Tuesday said India is moving fast towards becoming the third largest economy following the thrust on the manufacturing sector. "The country is moving fast towards becoming the third largest economy due to the promotion of manufacturing under the able leadership of Prime Minister Narendra Modi," Pandey said addressing the inaugural session of the two-day international conference on 'India's Progress towards Third Greatest Economy after 75 Years of Independence'. The conference was jointly organised by Lucknow University's Department of Commerce and Indian Accounting Association. "Seeing the changing picture of the country socially and economically, even the critics of India are believing that with the speed with which the economy is growing, it is estimated that by the year 2027, India will become the third largest economy in the world," he said. "Today, not only are new opportunities opening up for the youth in the country

Aim to make FAME scheme more transparent: Minister for Heavy Industries

"The ministry is considering every direction (on penalty) but we will take a decision based on the recommendation in the investigation report"

Hero Electric eyeing 1.7-2.5x volume growth in 2023, says MD Naveen Munjal

Asserts that the company is robust not to depend on govt subsidies for survival and growth

Govt to initiate closure of SAIL's steel unit in Bhadravathi: MoS Finance

The government has decided to shut SAIL's loss- making Visveswaraya Iron & Steel Plant (VISP) at Bhadravathi in Karnataka, Parliament was informed on Monday. The government had originally planned for privatising VISP and had invited Expression of Interest (EoI) for selling SAIL's 100 per cent stake in the unit in July 2019. However, in October last year, the government decided to scrap the strategic disinvestment plans of VISP due to low bidder interest. In reply to a question in the Lok Sabha, Minister of State for Finance Bhagwat Karad said the shortlisted bidders had expressed inability to participate in the sale process of VISP. "On account of old machinery, sub-optimal size, continuous losses and shutdown of blast furnace for a long time, it has been decided to initiate the process for closure of this unit," Karad said. The Cabinet had in October 2016 cleared strategic disinvestment of SAIL's 100 per cent stake in VISP.

All 7,000 e-buses under FAME-II to run on roads in next one year: Official

Joint secretary in the heavy industries ministry Hanif Qureshi said that out of the 7,000 electric buses, over 3,000 e-buses are already operating in the country

Centre to recover subsidies wrongly claimed under Fame scheme: Report

Ministry of Heavy Industries has already initiated the process to find out the quantum of subsidy claimed without meeting the localisation commitments by EV makers in India

Govt may invite financial bids for BEML privatisation in December quarter

The government is likely to invite financial bids for the privatisation of BEML in the December quarter, an official said. Earlier this month, the corporate affairs ministry approved the demerger of land and non-core assets of BEML to BEML Land Assets Ltd. The official said that every shareholder of BEML will get shares in BEML Land Assets and the process of demerger would be completed by the end of September or early October. "Once the demerger process gets over by September-end or by early October, the financial bids for strategic sale of BEML would be invited," the official told PTI. The financial bids are expected in the October-December quarter and the draft share purchase agreement too would be finalised by then, the official added. In January last year, the government invited preliminary bids for selling 26 per cent stake in BEML along with the management control. Multiple Expressions of Interest (EoIs) were received by the government, after which the process of demerger w

India committed to collaborate with industrialists from SCO: Union minister

With mutual cooperation, we can give new direction to socio-economic and industrial development: Union minister Mahendra Nath Pandey

SEZ 2.0: Regional boards to track development hubs on the cards

The commerce and industry ministry is drafting a legislation for the next chapter for SEZs that will see development of large manufacturing and investment hubs