Power minister approves two-year ALMM exemption for solar projects

15 Feb 2023 CW Team

RK Singh, Union Minister of Power and New and Renewable Energy, confirmed that the government has agreed to loosen the Approved List of Models and Manufacturers (ALMM) for two years. The target of increasing solar capacity from little over 60 GW to 280 GW by 2030 could have been compromised due to the lack of indigenous manufacturing capacity, which the minister cited as one of his justifications for the choice.

He noted that if domestic manufacturers produced all of the modules, it would take the nation seven years to meet demand. “We can't wait seven years, though. I have decided to relax ALMM for two years. In addition, several nations have petitioned the WTO to oppose ALMM; we will fight it there”, he stated.

The decision is anticipated to provide relief to solar developers who have been battling to find modules at a reasonable price since Basic Customs Duty (BCD) on modules was increased to 40% last year. The requirement that developers source modules solely from companies listed under ALMM put additional pressure on them.

The overall capacity mentioned in the ALMM is roughly 21 GW and comprises 83 module makers, according to the most recent list of models and module manufacturers. While relaxing the ALMM mandate would benefit developers, module makers have expressed concerns about a Chinese module influx through ASEAN nations, which would avoid the 40% BCD because of their free trade agreements, which would supersede the import tax.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..