8JULY 2024ADANI GROUP RAISES CAPEX FROM .70,000CR TO.1.3LCRBIS ROLLS OUT NEW STANDARDS FOR EV SAFETYTOP STORIESThe Indian ports-to-power conglomerate Adani Group will significantly increase its capital expenditures in fiscal year 2025 to 1.3 trillion rupees ($15.6 billion), up from 700 billion rupees the previous year, according to Chief Financial Officer Jugeshinder Singh. This announcement highlights the group's aggressive investment strategy aimed at expanding its infrastructure and renewable energy capabilities.Adani Green Energy, the renewable energy arm of the conglomerate, will allocate 340 billion rupees to add 6 gigawatts of capacity. This substantial investment underscores the group's commitment to enhancing its renewable energy portfolio amid a global push for cleaner energy sources.The increase in capital expenditures aligns with billionaire owner Gautam Adani's assertion that the group is "well positioned" to capitalize on opportunities in India's rapidly expanding infrastructure sector. Adani emphasized that infrastructure spending in the country is expected to grow at a compounded annual growth rate of 20 - 25 percent, providing ample opportunities for the group's diverse businesses, which span ports, power utilities, transmission, and coal trading.During a media briefing in Ahmedabad, Gujarat, Singh also addressed speculation regarding the group's interest in the fintech sector. He denied reports that Adani Group plans to take a stake in the payments firm Paytm but noted that the group remains open to evaluating opportunities within the fintech space. This statement indicates Adani Group's broader interest in expanding into new and potentially lucrative markets while maintaining its focus on core infrastructure and energy projects. The Bureau of Indian Standards (BIS) has introduced two new guidelines aimed at improving the safety of electric vehicles (EVs) in the L, M, and N categories. The L category includes two-wheelers, while the M and N categories cover four-wheelers and goods trucks, respectively.These new regulations, named IS 18590: 2024 and IS 18606: 2024, focus on the critical components of electric cars, buses, and trucks, particularly the powertrain, which encompasses parts like the motor and transmission. These standards are significant for advancing towards a more sustainable, eco-friendly, and efficient transportation system in India."These standards focus on the critical component of electric vehicles--the powertrain--ensuring it meets stringent safety requirements. Additionally, they emphasize the safety and performance of batteries, ensuring they are both powerful and secure," stated the Ministry of Consumer Affairs, Food & Public Distribution.With these new rules, India now has 30 local standards for electric vehicles and their accessories, including charging systems. Additionally, BIS has introduced IS 18294: 2023 to set safety standards specifically for e-rickshaws and E-Karts, ensuring they are built and operate safely to protect both drivers and passengers.The Bureau of Indian Standards (BIS) is the National Standards Body of India, operating under the Department of Consumer Affairs, Ministry of Consumer Affairs, Food & Public Distribution. BIS is responsible for formulating, recognizing, and promoting Indian Standards and helping industries improve the quality of their products and services.
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