- The METS (Mining Equipment, Technology and Services) sector from Australia is keen to partner with Indian companies in the energy and resources sector but wants “certainty and continuity in policy framework”.
- According to Mr Tim Beresford, Deputy CEO, Global Client Services, Australian Trade and Investment Commission, as many as 40 METS companies from Australia are working in India and another 13 are looking at opportunities to collaborate and support Indian industry as it grows its resources and energy interests.
- In what would be a milestone event for the renewable energy industry, eleven ‘Renewable Energy Management Centres’ (REMC) are to be inaugurated on February 28, 2020 by Union Power Minister RK Singh.
- These REMCs, built at a cost of ₹409 crore, will make it possible for the country to have more of renewable energy, particularly wind. REMC is a “hub for all information regarding renewable energy power generation.
- The number of people employed in renewable energy could reach 42 million globally by 2050, up from about 12 million in 2017, according to a recent report by the International Renewable Energy Agency (IRENA).
- India and the US on Tuesday zeroed in on energy business as a key means to bridge bilateral trade deficit as government data showed oil and gas shipments worth $6.4 billion emerged as the top import item from America in the nine months of 2019-20 financial year.
- The leaders today have declared energy as one of the four most important pillars of bilateral strategic engagement. India-US strategic energy partnership has been further energised with more emphasis on technology, innovation and capital infusion,” oil minister Dharmendra Pradhan tweeted.
- Mr Satendra Kumar Gomasta took over as Director technical of Coal India’s exploration arm Central Mine Planning & Design Institute (CMPDIL) on February 26, 2020. Prior to this, he served as general manager, Mining, at another Coal India subsidiary Northern Coalfields Limited in Singrauli.
- The Department for Promotion of Industry and Internal Trade (DPIIT) amended the Consolidated Foreign Direct Investment Policy 2017 to allow 100% foreign direct investment (FDI) in insurance intermediaries through the automatic route. Till now FDI up to 49% was allowed in insurance intermediaries through the automatic route.