Speaking at the ‘Elecrama 2025’ event organised by industry body Indian Electrical and Electronics Manufacturers Association (IEEMA) in Greater Noida, the Union minister emphasised the importance of the power sector in driving the country’s economic growth.

Lal said in his address that the power sector in India has a great future. We need to focus on innovative ways to increase production.

He said there is a need to develop advanced power electronics, affordable transformers, power converters, smart grid solutions to take advantage of green energy.

According to the Union Minister, a joint effort of the industry and the government is necessary to make this sector the engine of India’s growth.

The Union Minister further said that India is working towards achieving 500 GW of renewable energy capacity by 2030. This target can be achieved if both the industry and the government work together efficiently.

India has increased its renewable energy capacity by 2.81 times to 200 GW since 2014.

Lal further said that during this period India has increased its solar capacity by 38 times to over 100 GW. This shows that the country is rapidly moving forward in the field of renewable energy.

He also emphasized the importance of improving the country’s energy transmission and distribution network and urged industry players to focus on developing high-efficiency equipment such as Gas Insulated Switchgear (GIS) substations to modernize the grid.

The Union minister further said, “E-mobility is a huge opportunity, and the country needs more battery-swapping stations, fast chargers and vehicle-to-grid systems to reduce emissions and support clean transportation.”

The government will provide full support to investors and they should take advantage of various schemes and initiatives designed to promote the sector.

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Addressing a press conference in Vijayawada, Andhra Pradesh, he said that fuel prices in the country have come down in real terms in the last few years.

Speaking on global oil supply, Puri said that now more oil is coming from countries like the US, Brazil, Guyana, Suriname and Canada.

The Union Minister further said that there is no shortage of crude oil and at present India is getting supplies from 40 countries. Earlier their number was 27. If more countries want to join it, we will welcome them. This will help in keeping oil prices low.

The Union Minister said, “Petroleum prices have come down in the last three years.”

He further said that petrol prices have come down by -0.67 percent. However, diesel prices have increased by 1.15 percent.

Puri clarified that the government has not got any financial benefit from the fall in the price of petroleum. Rather, the government has given relief of Rs 22,000 crore to the oil companies.

Highlighting the economic progress made during the tenure of Prime Minister Narendra Modi, Puri said that in 2014, India was the 10th largest economy as well as among the five weakest economies. At that time the country was more dependent on foreign investment for development.

Puri further said that the Indian economy has improved a lot during PM Modi’s tenure and the country has become the fourth largest economy in the world. Soon India will become a $ 4 trillion economy.

The Fitch Ratings report said that the demand for petroleum products in India may increase by three to four percent in the current financial year.

The report said that the refinery margins of Indian oil marketing companies may fall in FY25. This is because of excess supply and the benefits of fluctuations in crude oil are diminishing.

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According to a statement by IESA, India’s cumulative EV sales have crossed 41 lakh units in FY 2023-2024 and the future outlook for electric vehicle sales remains positive. Their demand is increasing due to environmental awareness, customer interest, advances in battery technology and easily available and accessible EV charging infrastructure.

IESA said, “It is estimated that 83 percent of annual sales will be electric-two wheelers, 10 percent will be electric-four wheelers and commercial vehicles such as trucks, buses. At the same time, electric wheel vehicles will contribute seven percent to the sales.”

India is making significant and steady progress in its decarbonization journey, with a focus on rapid growth in electric vehicle sales, demand and supply incentives, growing consumer demand and developing charging infrastructure.

IESA President (Interim) Vinayak Valimbe said that India has seen substantial growth in electricity consumption, reaching 1,543 TWh (trillion watt hour) in 2023-24. This is an increase of seven percent compared to last year.

“According to the Central Electricity Authority (CEA), power consumption on public charging infrastructure is projected to be 465 GWh from April to October 2024, more than double the 204 GWh in 2022-2023,” he said.

He said that with most EV users opting for charging facilities at home, IESA estimates that the energy demand for EV charging will be 4,000 GWh in FY 2024-2025 which will increase to 38 TWh by FY 2031-2032, with peak power demand projected at 366.4 GWh.”

The Ministry of Power has prepared a National Electricity Plan, a 10-year roadmap. It is important to help drive future strategies and ensure energy security.

India is the third largest producer and consumer of electricity in the world.

The National Electricity Plan estimates that the total annual demand on the Indian power grid will grow to 2,133 TWh by 2031-32 and EV charging will account for about three per cent of this demand, according to IESA estimates.

According to the IESA report, India’s total installed capacity is projected to grow to 466 TWh in January 2025. The plan is expected to increase the capacity from 100 GW to 900 GW by 2032.

The plan serves as a blueprint to accelerate the installation of EV charging infrastructure to meet future EV charging demand and increase the number of charging stations to around 1 lakh by 2030.

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Apple recently announced the iPhone 16E, a new product in the iPhone 16 lineup.

It offers powerful capabilities at a more affordable price.

The phone comes with the industry-leading efficiency of the A18 chip and the first cellular modem designed by Apple for fast, smooth performance and great battery life.

According to CyberMedia Research (CMR), the premium smartphone segment witnessed a robust growth of 36 per cent year-on-year in India, while the super-premium (Rs 50,000 to Rs 1,00,000) and uber-premium (above Rs 1,00,000) segments recorded growth of 10 per cent and 25 per cent, respectively.

Almost one in every five devices now is a premium smartphone, driven by consumer cutting-edge technology and lifestyle-oriented preference.

Apple entered the top five smartphone brands in India for the first time in the fourth quarter of 2024, registering 72 per cent year-on-year growth and 11 per cent market share.

Prabhu Ram, VP-Industry Research Group, CyberMedia Research (CMR), said, “This latest iPhone 16E is a milestone for Apple, bringing the company one step closer to full control of its end-to-end platform, which seamlessly integrates hardware and software.” He added that the inclusion of Apple’s in-house cellular modem in the iPhone SE signals the beginning of a new era, laying the foundation for a broader shift to Apple’s proprietary modem technology for the upcoming iPhone 17 series and beyond. “India remains an important pillar of Apple’s long-term growth strategy, just as China was over the last decade. While it is still early days for Apple in India, its ongoing retail expansion, marketing efforts and affordability initiatives provide ample scope for growth in urban and aspirational India,” Ram told . According to Tarun Pathak, Research Director, Mobile Devices and Ecosystems at Counterpoint Research, the new iPhone 16E is impressive.

“In some key purchase decision factors like camera, the iPhone 16 base still proves to be an attractive option,” Pathak told IANS.

The premium segment in India is driven by EMI purchases, with 5 out of 10 users choosing financing to buy their devices.”

The iPhone 16E will be available in 128GB, 256GB and 512GB storage capacities. The starting price of this new phone is Rs 59,900. The iPhone 16E will be available in two matte finish colours – black and white. Pre-orders will start from Friday and availability will start from February 28.

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The iPhone 16E offers faster and smoother performance as well as breakthrough battery life, which is possible due to Apple’s A18 chip and the new Apple C1. It is the first cellular modem designed by Apple.

The iPhone 16E is also designed for Apple Intelligence, an intuitive and personalized intelligence system. It provides helpful and relevant information to users for privacy in AI.

The company said that the device will be available in white and black colors in 128GB, 256GB and 512GB storage capacities, with a starting price of Rs 59,900.

According to Apple, the 48MP Fusion Camera takes great photos and videos and with the integrated 2x telephoto, it’s like two cameras in one, so users can zoom in with optical quality.

The iPhone 16E will be available in two beautiful matte finishes, black and white, with coloured cases available for accessories. Pre-orders will begin on Friday and will be available from February 28.

Kaian Drance, Apple’s vice president of Worldwide iPhone Product Marketing, said, “The iPhone 16E includes the features of the iPhone 16 lineup that our users love. These include breakthrough battery life, the A18 chip for improved performance, a two-in-one camera system and Apple intelligence.”

The iPhone 16E is designed to last, including splash, water and dust protection with an IP68 rating. Also, the Ceramic Shield front cover, which is stronger than any smartphone glass.

The 6.1-inch Super Retina XDR display comes with an edge-to-edge design with OLED technology, which is perfect for watching HDR videos, playing games and reading crisp text.

According to Prabhu Ram, vice president, industry research group, CyberMedia Research (CMR), the new iPhone 16E is a key step to maintain the company’s growth momentum in India and revive demand in developed markets.

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The event was organised at the amphitheater of Bharat Mandapam as part of the Bharat Tex 2025 exhibition being held here from February 14-16.

The event featured fabrics woven in villages of five different states including West Bengal, Madhya Pradesh, Uttar Pradesh, Karnataka and Rajasthan. The event showcased 30 looks by 20 models showcasing seven different weaving techniques namely Chanderi, Maheshwari, Jamdani, Khun, Banarasi, Kota Doria, Murshidabad.

The event was a huge success and showcased the strength of Indian handloom to the international audience.

The event was organised by Indian textile industry stakeholders Vaishali S Couture in association with Vaishali S Threadstories Pvt. Ltd., Mumbai and in coordination with Handloom Export Promotion Council supported by Handloom Development Commissioner, Ministry of Textiles.

Vaishali S Couture is a 24-year-old brand known for reviving old and dying hand-weaving techniques and taking them to top global luxury markets by adding innovation, creativity and a very high level of quality.

With over 5,000 exhibitors and participation from over 120 countries, ‘Bharat Tex 2025’ has attracted global interest, reflecting India’s growing influence in the textile trade, according to the Textiles Ministry.

The event, running in the national capital from February 14 to February 16, covers the entire value chain of textiles from raw materials and fibres to finished products, technical textiles, home furnishings and high-end fashion.

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The government’s objective behind implementing this rule is to reduce the long queues of vehicles at the toll due to problems in Fastag and to make travel convenient.

The National Payments Corporation of India (NPCI) and the Ministry of Road Transport and Highways have released some important changes in the Fastag ecosystem, which aims to streamline toll payments, reduce disputes and curb fraud.

The new Fastag rule will come into effect from February 17.

Under the new rules, if the Fastag remains inactive for more than 60 minutes before the vehicle crosses the toll and remains inactive for 10 minutes after crossing the toll, the transaction will be rejected. The system will reject such payments by writing ‘Error Code 176’.

Additionally, changes have been made to the chargeback process and cooling period as well as transaction rejection rules to simplify toll payments and reduce disputes.

According to the new guidelines, if the toll transaction is done more than 15 minutes after the vehicle passes through the toll reader, then Fastag users may have to pay additional charges.

According to the updated National Electronic Toll Collection (NETC) guidelines, if there is a delay in any transaction and the user has low balance in his Fastag account, then the toll operator will be held responsible.

Earlier, users could recharge Fastag at the toll booth itself and proceed further. After the new rule, now users will have to recharge Fastag first.

According to the latest data of NPCI, the number of Fastag transactions has increased by 6 percent to 38.2 crores in December, which was 35.9 crores in November.

Also, the value of Fastag transactions has increased by 9 percent It has increased to Rs 6,642 crore, which was Rs 6,070 crore in November.

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HMIL said in a statement that after starting its exports from India in 1999, the company has sold over 37 lakh cars from India to countries around the world in the last few years.

The company’s export figures reflected the success of India’s effort for self-reliant and globally competitive automobile production.

Over the years, Hyundai has expanded its global reach, exporting cars to over 150 countries.

Currently, the company supplies vehicles to over 60 countries, with Saudi Arabia, South Africa, Mexico, Chile and Peru emerging as its top markets in 2024.

The company said that Hyundai exported a total of 1,58,686 vehicles in the year 2024. Among the best-selling export models, the i10 family has crossed the 1.5 million unit mark in overseas sales. The popular Verna series has crossed the five lakh unit mark.

The carmaker has also achieved a major milestone by exporting more than 1 million vehicles to Africa.

According to HMIL Managing Director Unsoo Kim, “Hyundai Motor India Limited is proud to be the largest exporter of passenger vehicles from India on a cumulative basis.”

He said that this is a testimony to the growing trust in Indian engineering and the popularity of Indian craftsmanship around the world.

Kim said, “Under our global vision of progress for humanity, our resolve to serve global customers with a wide range of smart mobility solutions will continue to grow stronger as we commit ourselves to Make in India, Made for the World.”

Policies such as the production-linked incentive (PLI) scheme for the automobile sector and the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme have encouraged investments in vehicle production and exports.

Meanwhile, the automobile manufacturer reported a net profit of Rs 1,161 crore in the third quarter of FY2024-25.This was a 19 per cent decline from the figure of Rs 1,425 crore in the same quarter of FY2023-24.

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Assocham President Sanjay Nayar said that the joint statement issued after the meeting between Prime Minister Narendra Modi and President Donald Trump in Washington DC is a symbol of the continued trust and strength of the strategic partnership between India and the US.

He said that the Prime Minister’s visit to the US has brought many concrete results. These include strengthening cooperation in defense, terrorism, fossil fuels and nuclear energy, energy security covering both countries, trade and investment, as well as leveraging India’s human capital.

Another major outcome is the development of a US-India roadmap to accelerate AI infrastructure by the end of the year.

Nair said the ambitious target of $500 billion bilateral trade by 2030 is easily achievable, while consensus on negotiations for a bilateral trade agreement will pave the way for new trade and investment opportunities between the two countries.

According to FIEO President Ashwani Kumar, the visit is an important step towards deeper economic cooperation, expanding trade, promoting investment and strengthening strategic ties between the two countries.

He said the discussions are a major milestone in the growing economic ties between India and the US. The US is emerging as one of India’s largest trading partners. These developments will provide new opportunities to Indian exporters.

The focus on technology, defence and green energy will particularly benefit India’s export sectors and enhance global competitiveness.

The FIEO chief also appreciated the increased investment focus, which will spur new industries and job creation in India, provide impetus to the ‘Make in India’ initiative and boost demand for Indian exports.

They underscored the importance of enhancing bilateral trade by removing barriers and streamlining processes.

Focus sectors include technology, healthcare, agriculture and textiles, with an ambitious target of reaching $500 billion in bilateral trade by 2030 under “Mission 500”.

Kumar lauded the early timeline for a multi-sectoral bilateral trade agreement (BTA) by the end of this year, which aims to enhance market access, reduce trade barriers and improve supply chain integration.

The discussions also resulted in the announcement of initiatives to boost US investments in India.

“These investments will create new opportunities for Indian exporters and position India as a major hub for innovation and manufacturing,” the FIEO chief said.

“The key focus was on enhancing cooperation in IT, AI and 5G infrastructure, which will open up significant growth opportunities for Indian tech businesses in the US market.”

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New Delhi : The Union Minister of Textiles, Shri Giriraj Singh, visited Bharat Tex 2025 on its opening day today at Bharat Mandapam, New Delhi. Organized by the consortium of 12 Textile Export Promotion Councils and supported by the Ministry of Textiles, this main event is being held from February 14-17, 2025 at the Bharat Mandapam, New Delhi, and will cover the entire value chain of textiles, from raw materials and fibers to finished products, technical textiles, home furnishings, and high-end fashion. Related exhibitions such as accessories, garment machinery, dyes and chemicals and handicrafts, are being held from February 12 to 15 at the India Expo Centre and Mart Greater Noida.

Bharat Tex 2025 is one of the world’s largest textile expos, bringing together policymakers, industry leaders, global brands, and stakeholders from across the textile value chain under one roof. With over 5,000 exhibitors and participation from more than 120 countries, Bharat Tex 2025 has drawn significant global interest, reflecting India’s growing influence in textile trade.

This year’s event is built around the twin themes of resilient global value chains and textile sustainability. This mega textile event offers a range of activities, covering a global sized trade fair and expo, a global scale textiles conference, seminars, CEO roundtables, and B2B and G2G meetings. It will also feature strategic investment discussions, product launches, and collaborations poised to reshape the global textile industry. Dedicated buyer-seller meets, policy roundtables and networking sessions will enhance international business collaborations, reinforcing India’s position as a preferred global sourcing destination.

With participation from leading textile manufacturers, global retail giants, and industry associations, Bharat Tex 2025 is set to facilitate high-value trade discussions and partnerships. The event will host over 70 conference sessions, featuring top international speakers, industry veterans, and policymakers discussing key topics such as global trade shifts, technical textiles, AI-driven manufacturing, and the future of sustainable fashion.

Fusion of India’s historical textile expertise with contemporary trends will be a highlight of the event. Fashion shows, trend forecasts, and product launches will provide a glimpse into the future of textiles, while traditional displays and cultural performances will celebrate the enduring legacy of Indian craftsmanship. This year’s event also enforces India’s 5F vision – Farm to Fibre, Fabric, Fashion, and Foreign Markets, positioning the country as a reliable and sustainable sourcing destination for global textile companies.

Bharat Tex 2025 promises to be a celebration of the textile industry’s past, present, and future. It aims to be a key influencer in shaping global textile trends, driving innovation, and promoting sustainability. As the industry looks towards more integrated and sustainable practices, Bharat Tex 2025 will undoubtedly play a pivotal role in this transformative journey.

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