Nirmala Sitharaman allots Rs 350 billion towards energy transition

03 Feb 2023 CW Team

Nirmala Sitharaman, Union Finance Minister, disclosed a Rs 350 billion investment in the nation's switch to greener energy.

India's target of achieving net zero carbon emissions by 2070 will require a priority capital investment of Rs 350 billion, Sitharaman stated.

In order to minimise carbon intensity and the usage of fossil fuels, Sitharaman also pledged an additional Rs 197 billion for the government's Green Hydrogen Mission. She also declared a five million tonne goal for producing renewable hydrogen by 2030.

By 2070, India plans to have net-zero carbon emissions. The Green Hydrogen Mission, which will receive an investment of Rs 197 billion, will speed up the transition to low carbon intensity and lessen reliance on fossil fuels.

The National Green Hydrogen Mission was approved by the government on January 4, 2023, with an initial investment of Rs 197.44 billion. The mission's goals are to make India an energy-independent nation and to decarbonise key industries.

According to her, the Centre is also supporting the installation of 4,000 MwH of battery energy storage, and an environmental protection act notification will also include a green credit programme.

Also read:
Government aims to produce 5 MT of renewable hydrogen by 2030
Govt receives bids for 6th round of commercial coal auction

Infrastructure Urban

08 Apr 2026

UniAcoustic, Vicoustic Form UniVicoustic Alliance

UniAcoustic, part of United Group, has acquired a strategic stake in Portugal-based Vicoustic, forming a new alliance branded as UniVicoustic. The agreement, signed in Mumbai, marks a significant cross-border partnership aligned with evolving India–EU trade dynamics.The collaboration brings together Vicoustic’s global expertise in architectural acoustic products with UniAcoustic’s manufacturing scale and distribution capabilities. The combined platform aims to expand market reach, integrate technology and optimise supply chains across key regions.The development comes amid progress in th..

Dalmia Bharat, Delhi PWD Revamp Under-Flyover Spaces

Dalmia Bharat has partnered with the Public Works Department (PWD), Government of Delhi, to redevelop select under-flyover spaces and a road stretch into sustainable urban hubs. The agreement covers key locations including Lodhi Flyover, Oberoi Flyover, Mangi Bridge and Hanuman Setu.Under the initiative, the company will undertake design, landscaping, plantation and long-term maintenance of the sites, with a defined upkeep period of three years after completion. The project aims to improve urban aesthetics while promoting environmental sustainability and biodiversity restoration in high-densit..

Versigent Debuts as Independent NYSE-Listed Company

Versigent has launched as an independent publicly traded company following its separation from Aptiv, with shares commencing trading on the New York Stock Exchange under the ticker “VGNT”. The move marks a significant milestone in the company’s transition into a standalone global player in power distribution systems.The company specialises in the design, manufacturing and delivery of low- and high-voltage electrical architectures, supported by engineering centres across four continents and manufacturing operations in over 25 countries.Versigent reported revenues of $8.8 billion, net inco..