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Thyssenkrupp, the German engineering giant with interests in high-grade electrical steel manufacturing in India, is in talks with the Indian government to explore possibilities for expanding its production capacity. Currently, the company has an annual capacity to produce 50,000 tonnes of electrical steel per annum, which is a small percentage of the country’s requirement.

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INR 10,000 crore investment in Uttar Pradesh by Goenka Group. Of the total announced investment, INR 7500 will be invested in renewables, while power distribution and retail sectors will receive INR 1,000 crore each. The group further plans to invest INR 500 crore in sports academies.

Uttar Pradesh Global Investors Summit (UPGIS) 2023 which was scheduled from 10-12 February 2023 at Lucknow, is the flagship Investment Summit of the Government of Uttar Pradesh. The state government is expected to attract investment of INR 10 Lakh crores.

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Union Budget 2023, the Government of India announced INR 1.31 Lakh crore for urea subsidy & INR 44000 crore for nutrient based subsidy taking the total budgetary allocation to INR 1.75 Lakh crores. PM Programme for Restoration, Awareness, Nourishment and Amelioration of Mother Earth” (PM-PRANAM) to be launched to incentivize states and union territories to promote alternative fertilizers and balanced use of chemical fertilizers. The government also proposed exemption in the on used in .

Catch full highlights about the Union Budget 2023, India at https://lnkd.in/dYh_Vcvj

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FICCI has sought a hike in duty on the import of aluminium and its products to at least 12.5% to encourage domestic manufacturers in India. The present import duty on aluminium and aluminium products in India is 10% and increasing the duty would help curb dumping of products within the country and encourage growth of the domestic manufacturing and recycling landscape. At present 60% of India's aluminium demand is met through imports majorly from the US, the UK, Malaysia and the Middle East. Several of these nations support their domestic industries with concessions and benefits, low interest loans, cheaper power tariffs, increased raw materials availability, and tax benefits.

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Let's spread peace, humanity, and prosperity among the people and rise to salute our nation with pride.

Wishing a very Happy Republic Day to one and all!