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New Delhi, Feb 13 () Union minister Nitin Gadkari on Thursday urged industry players to join hands with the government for the proposed electric lane on Rs 1.03 lakh crore Delhi-Mumbai Expressway while promising to provide policy support to serious players. He said while a stretch of the Delhi-Mumbai Expressway is planned as electric lane, the Delhi-Jaipur part of the 1,320 km expressway will be completed before Diwali. "Indian investors should come forward for investing in electric lane stretch of the Delhi-Mumbai expressway to be built at a cost of Rs 1.03 lakh crore within three years," the Road Transport and Highways Minister said while addressing a conference on 'Developing a Roadmap for Low Carbon &amp; Sustainable Mobility in India' by FICCI here. The minister said the government is ready to provide policy support to serious investors and also appealed them to come forward in the field of alternative fuel including bio-CNG and electric vehicle. The could cut on India's huge Rs 7 lakh crore crude imports, he said. Stressing on modern transport infrastructure, he said he will also take up the issue of electric highways during his ensuing visit to Sweden this month. The minister also said that electric vehicles have become popular among Indian companies and start-ups, and days were not far-off when India will be a key player in export of electric vehicles. He also said that water transport was one of the viable mobility solutions and added that metros could be successful in tier 2 and 3 cities. Besides Delhi-Mumbai Expressway, work has been initiated on six other express highways out of proposed 22 projects, he said. The entire Delhi Mumbai Express Highway will be completed in the next three years, the minister said, adding that land acquisition for the project has been completed and resulted in savings to the tune of Rs 16,000 crore on it being on a new alignment. "We have saved about Rs 16,000 crore on land acquisition front alone as land could be acquired at a cost of Rs 80 lakh per hectare for the project," he said, adding that the expressway will unlock new economic opportunities in hinterland districts of Haryana, Rajasthan, Madhya Pradesh and Gujarat. NAM MRMR

Gadkari invites players for electric lane of Delhi-Mumbai Expressway

Mumbai, Mar 30 () The Maharashtra government on Monday announced an average of 8 per cent electricity tariff cut for the next five years to help businesses and people tide over the COVID-19 crisis. While the industry has been given the highest benefits, farmers will have to contend with a 1 per cent reduction in electricity costs, according to an official statement. It also added that all the revisions are for a period of five years. For the consumers served by private sector discoms Adani Energy and Tata Power in the financial capital, industrial units will have their power rates slashed by 18-20 per cent, commercial establishments by 19-20 per cent and residential ones by 10-11 per cent, it said. The Maharashtra Electricity Regulatory Commission (MERC) has approved a move to cut tariffs by an average of 7-8 per cent as part of the move, which is first such measure in the past 10-15 years, an official statement said. Maharashtra is the state with the largest number of coronavirus cases, and the move comes amid a spate of measures being taken by governments and policymakers to push economic activity amid the pandemic. Industrial consumers in the state, excluding the capital Mumbai, will enjoy a tariff cut of 10-12 per cent, while residential ones will see their rates go down by 5-7 per cent, it said. In the financial capital, state-owned BEST's tariffs for industrial consumers will go down by 7-8 per cent, while the same for commercial establishments will be down 8-9 per cent, it said adding that residential dwellings will have to make do with a 1-2 per cent reduction. MERC Chairman Anand Kulkarni said the announcement has been made after extensive consultations with all the stakeholders and also made it clear that the revised tariffs will not be limited to the next one year alone. The Commission has put up an in-built system through which the revisions will be applicable for five years, the official statement said. There will not be any burden on the state exchequer through this move, Kulkarni said, hoping that the electricity distribution companies will be more commercially prudent to supply power to consumers at the lower rates. Kulkarni also appealed people not to misuse power because it is available at lower rates. AA HRS

Coronavirus pandemic: Maharashtra govt announces 8 pc cut in electricity tariff for 5 years

The government has ordered a probe into <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>' Nexon EV fire incident in Mumbai, as the company was investigating the "isolated thermal incident". The Defence Research and Development Organisation (DRDO), which was earlier tasked with investigating electric two-wheeler fire incidents by the Union Road Transport and Highways Ministry, would lead the probe into Nexon EV fire too. The DRDO probe had found serious defects in the batteries. These defects occurred because the electric two-wheeler manufacturers like Okinawa Autotech, Pure EV, Jitendra Electric Vehicles, Ola Electric and Boom Motors may have used "lower-grade materials to cut costs". A <keyword id="7931165" type="General" weightage="20" keywordseo="Tata-Nexon-EV" source="Orion">Tata Nexon EV</keyword> caught fire in Mumbai and the company said on Thursday a detailed investigation is currently being conducted to ascertain the facts of the recent isolated thermal incident that is doing the rounds on social media. The EV car fire incident was reported from Vasai West (near Panchvati hotel) in Mumbai late on Wednesday. "We will share a detailed response after our complete investigation. We remain committed to the safety of our vehicles and their users," the company said in a statement. <keyword id="2055885" type="General" weightage="20" keywordseo="tata-nexon" source="Orion">Tata Nexon</keyword> EV is the highest selling electric car in India and at least 2,500-3,000 cars are being sold every month in the country. The company has so far sold over 30,000 EVs, most of which are Nexon models. "This is a first incident after more than 30,000 EVs have cumulatively covered over 100 million km across the country in nearly four years," said the company. As fires and explosions in electric two-wheelers continue unabated, the government is all set to introduce EV battery standards (BIS standards) for EV two-wheelers that will be expanded to four-wheelers at a later stage. The BIS standards for EV batteries will look into "size, connectors, specification and minimum quality of cells, the battery's capacity". Earlier, NITI Aayog in a discussion paper also stressed upon the need for BIS standards as the first step towards a national battery swapping policy. SEE ALSO: <a href="https://www.businessinsider.in/tech/gadgets/news/hp-launches-four-new-gaming-laptops-starting-at-inr-67999-in-india/articleshow/92427741.cms">HP launches four new gaming laptops starting at ₹67,999 in India</a> <a href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrencies-show-signs-of-life-after-a-bloodbath-but-future-remains-uncertain/articleshow/92427941.cms">Cryptocurrencies show signs of life after a bloodbath, but future remains uncertain</a>

Tata Nexon EV fire: government orders probe into the incident

Small steps taken by the <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> government to improve <keyword id="6354423" type="UNKNOWN" weightage="20" keywordseo="Ease-of-Doing-Business">ease of doing business</keyword> in the country seem to be paying off. India has jumped 12 positions in <a href="http://www.businessinsider.in/Heres-why-World-Bank-thinks-India-can-make-it-in-top-100-of-ease-of-doing-business-index/articleshow/49563300.cms">World Bank’s this year’s list </a>in which countries are ranked on their ease of doing businesses. 
 
From last year’s 142 slot, India has jumped to 130 this year. Singapore, New Zealand and Denmark have occupied the first three spots in the list. 
 <keyword id="6391107" type="ORGANIZATION" weightage="20" keywordseo="DIPP">DIPP</keyword> secretary <keyword id="6358887" type="PERSON" weightage="20" keywordseo="Amitabh-Kant">Amitabh Kant</keyword> said that he is hopeful of being named into top 50 in the coming three years. Kant further added, "We have reversed the trend by moving up and no country has moved 12 spots in a year. Major reforms are going to kick in from next year which will further improve our position.” 
 State Bank of India’s chief economic officer, <keyword id="6448502" type="PERSON" weightage="20" keywordseo="Soumya-Kanti-Ghosh">Soumya Kanti Ghosh</keyword> said, "Government has taken a lot of micro steps in the last one year and some reforms have been politically sensitive. States have also got into action...if we continue moving up the ranks at this pace we can break into the top 100 very soon." 
 
The <a href="http://www.businessinsider.in/searchresult.cms?query=World+Bank">World Bank</a> report also says that among all other countries, India is the one that have made maximum improvements. "India is the South Asian economy recording the biggest increase in the distance to frontier score since 2004," mentioned the report. It also took note of India’s move to cut down days take to start business. 
 
As per the report, the biggest advancement into the Indian set-up of doing business was to give power to businesses which has taken India's ranking from 99 in 2015 to 70 in 2016. 
 
Prime Minister Narendra Modi has set a target of breaking into top 50 in this ranking. Based on the business environment in the cities, the ranking has given 53 and 47 weightage to Delhi and Mumbai respectively. 
 
The report also mentioned India’s move of eliminating the minimum capital requirement and the need to obtain a certificate to commence business operations. 
 
"The utility in Delhi made the process for getting an electricity connection simpler and faster by eliminating the internal wiring inspection by the Electrical Inspectorate. The utility in Mumbai reduced the procedures and time required to connect to electricity by improving internal work processes and coordination," the report noted flagging two areas of improvement. 
Image: indiatimes

Ease of doing business: India ranks 130 in World Bank report

Mumbai, Electric vehicle maker <keyword id="3558962" type="General" weightage="20" keywordseo="Kinetic-Green" source="Orion">Kinetic Green</keyword> on Monday said it is looking to play big in the electric two and three-wheeler space as it rolled out its all-new e-scooter <keyword id="179223" type="General" weightage="20" keywordseo="Zulu" source="Orion">ZULU</keyword> in the domestic market. The Made-in-India Fame-II compliant high-speed electric scooter comes at an introductory price starting from Rs 94,990 (ex-showroom, Mumbai), the company said. The Pune-based company also announced a new brand identity as part of its commitment to sustainable mobility plans. The all-new Zulu will offer "Battery as a Subscription" plans and a fast-charging, long-life lithium-ion battery with oil-cooled immersion technology, the company said. Kinetic Green aims big with the launch of all-new e-scooter ZULU, the company said. "This is a significant moment for the Kinetic Green family and the EV industry at large. With the launch of our e-scooter Zulu, Kinetic Green is excited to announce that we will be developing and bringing to our customers a range of two and three-wheelers in the coming years," said Sulajja Firodia Motwani, Founder and CEO of Kinetic Green. "We are indeed excited to re-begin the 2-wheeler journey in this new avatar! In addition, our rebranding marks a momentous milestone in our pursuit of innovative and sustainable mobility solutions for the masses," she added. The battery subscription model ensures that the customer does not pay for the battery upfront, as the customer can subscribe for the battery on a "pay as you use" model, reducing the initial purchase cost of the scooter and eventually, can also own the battery at the end of the subscription term, the company said. This structure results in a reduction of more than 35 per cent in acquisition cost and great savings on running costs as well, the company said, adding the system is fully integrated with a mobile app for a seamless user experience. With a range of 104 km and a city speed of 60 kmph, ZULU is powered by a 2.27 kWh (kilo-watt hour) lithium-ion battery capacity and is equipped with a portable charger, facilitating convenient charging at home. The e-scooter also comes with a range of features such as front and rear disc brakes, under-seat storage, LED Daytime Running Lights (DRL), a digital speedometer, front storage space, a front bag hook, an auto power-cut charger, a USB port and a boot light, among others, Kinetic Green said.

Kinetic Green launches New electric-scooter ZULU

<ul><li><keyword id="21235340" type="General" weightage="20" keywordseo="Vishal-Gondal" source="keywords">Vishal Gondal</keyword>, a <keyword id="19895433" type="General" weightage="20" keywordseo="Tesla" source="keywords" meta.keywordsubtype="org" meta.entityname="Tesla" meta.hostid="261" meta.entityid="Tesla">Tesla</keyword> fan from Mumbai, preordered the <keyword id="20786450" type="General" weightage="20" keywordseo="Model-3" source="keywords">Model 3</keyword> in 2016 but never got it, the AP reported.</li><li>After seven years of waiting, he sought a deposit refund and purchased an Audi instead.</li><li>Tesla's entrance into the Indian market has long been stalled by the country's high EV import taxes.</li></ul>Some Tesla fans in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> have been waiting for years for the cars they preordered, and they're finally demanding their deposits back. <a href="https://apnews.com/article/india-tesla-ev-musk-a3d121fe3de3059518f04ecf99bee959" target="_blank">The Associated Press</a> spoke to people who ordered the electric vehicles, including a startup founder from Mumbai named Vishal Gondal, who said he preordered a Tesla Model 3 in April 2016. Gondal told Business Insider he was excited about the car's "cutting-edge EV technology." But he ended up waiting "nearly eight years with no car." "<keyword id="19903807" type="General" weightage="20" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword>'s tweets and news stories hinted at a potential India launch, but nothing concrete," Gondal, founder and CEO of GOQii, a healthcare startup, told BI. Gondal told the AP and BI that he paid a $1,000 deposit for the Tesla. BI viewed a copy of his deposit receipt. Eventually, he decided to buy an electric SUV from German carmaker Audi instead. He's since secured a deposit refund from Tesla. Another customer, Mumbai-based designer Hemant Suthar, waited six years before getting a refund in 2023, the Associated Press<a href="https://apnews.com/article/india-tesla-ev-musk-a3d121fe3de3059518f04ecf99bee959" target="_blank"> reported</a>. Tesla did not immediately respond to a request for comment from BI sent outside regular business hours. In January 2022,<a href="https://www.businessinsider.com/elon-musk-tesla-working-through-challenges-with-india-import-tax-2022-1" target="_blank"> Elon Musk said</a> that Tesla was "still working through a lot of challenges" with the Indian government — including the high import taxes it imposed on electric vehicles. But in March, India handed Tesla a big win. It lowered import taxes on EVs made by companies that <a href="https://www.reuters.com/business/autos-transportation/india-approves-policy-boost-e-vehicle-manufacturing-2024-03-15/#:~:text=Under%20the%20new%20policy%2C%20effective,EVs%20depending%20on%20their%20value." target="_blank">commit to investing at least $500 million</a> and start domestic manufacturing within three years. Under these new regulations, companies can import 8,000 EVs that cost $35,000 or more yearly at a 15% tax rate. That's down from a 70 to 100% EV tax. In April, Reuters<a href="https://www.reuters.com/business/autos-transportation/teslas-musk-likely-unveil-2-3-bln-india-investment-during-visit-sources-say-2024-04-17/" target="_blank"> reported</a> that Tesla was planning to build a new factory in India as part of a $2 to $3 billion investment. Musk was expected to announce these plans on his trip to India in April. But Musk canceled the trip that month,<a href="https://x.com/elonmusk/status/1781541775183610310" target="_blank"> citing</a> "very heavy Tesla obligations." Gondal, for his part, said he is still a fan of Musk and admires Tesla's innovation, but the experience has made him more cautious. "I would consider purchasing a Tesla in India only if there were a clear and reliable market strategy with strong customer support and when I see the car in India with my own eyes," he told BI. August 14, 7:30 a.m. — This story has been updated.

A Tesla fan in India preordered a Model 3 in 2016. He waited 7 years, and the car still hadn't shown up.

New Delhi, Dec 11 () Following are the top business stories at 1820 hours:
 
DEL64 BIZ-LD-ADB-INDIA-GROWTH
ADB cuts India's growth forecast to 5.1pc for FY2019; projects 6.5 pc for next year
New Delhi: Asian Development Bank (ADB) on Wednesday lowered India's economic growth forecast for FY2019 to 5.1 per cent on slowing job prospects, rural distress exacerbated by poor harvest and credit crunch. 
 
DCM23 BIZ-GST
GST rates may go up for various items to meet revenue shortfall
New Delhi: With pressure on revenue collection, the goods and services tax (GST) rates and slabs may be raised during the GST Council meeting next week. 
 
DEL84 BIZ-LD STOCKS
Markets back to winning ways as bank, IT stocks shine
Mumbai: Equity benchmarks resumed their upward march on Wednesday, propelled by fag-end buying in bank, IT and auto stocks amid lacklustre global cues.
 
DCM30 BIZ-INDIA-US-OIL
US replaces Kuwait as India's 6th biggest oil supplier
New Delhi: The United States has surpassed Kuwait to become India's sixth largest oil supplier as it supplied 70 per cent more crude to the world's third largest energy consumer during April-September.
 
DEL85 BIZ-RUPEE-CLOSE
Rupee extends winning run for 6th day against US dollar, gains 7 paise
Mumbai: The rupee appreciated by 7 paise to settle at a fresh one-month high of 70.85 against the US dollar on Wednesday on the back of firm domestic equities and easing crude oil prices, extending its winning run for the sixth straight session. 

DCM42 BIZ-DATA PROTECTION BILL-REAX
Sweeping powers to govt under data protection Bill a step backwards, say experts
New Delhi: The Personal Data Protection Bill giving investigating agencies unbridled powers to carry out surveillance on private data has spooked companies and experts who argue that such overarching access is against established principles and is a dramatic step backwards.
 
DCM14 BIZ-ADANI-QATAR
Qatar sovereign wealth fund QIA buys 25.1 pc stake in Adani Electricity Mumbai for Rs 3,200 cr
New Delhi: Qatar Investment Authority has agreed to buy a 25.1 per cent stake in Adani Electricity Mumbai Ltd - the firm that distributes power to three million consumers in Mumbai - for Rs 3,200 crore.
 
DCM3 BIZ-CGPOWER-SFIO
SFIO begins probe against CG Power and Industrial Solutions, 15 group firms
New Delhi: The Serious Fraud Investigation Office (SFIO) has started probe into the alleged irregularities at CG Power and Industrial Solutions Ltd and its 15 group companies. 
 
 
 
 
 SHW
SHW

Business highlights

<keyword id="6354427" type="General" weightage="20" keywordseo="apple" source="Orion">Apple</keyword> CEO <keyword id="191843" type="General" weightage="50" keywordseo="tim-cook" source="Orion">Tim Cook</keyword> on Monday said that the company is excited to build on its long-standing history in India, as it gears up to mark a major expansion with the opening of its first retail stores in the country. Apple completes more than 25 years in India this week and the tech giant will open two own-branded retail stores -- at Jio World Drive Mall in Mumbai and at Select CityWalk mall in Saket, Delhi. "India has such a beautiful culture and an incredible energy, and we're excited to build on our long-standing history -- supporting our customers, investing in local communities, and working together to build a better future with innovations that serve humanity," said Cook who will inaugurate the retail stores in the country, a first for the tech giant which has doubled down on its India growth plans. Apple's first two retail stores in India will welcome customers from all over the country and around the world. The new Apple flagship retail stores in Mumbai and Delhi, backed by aggressive sales initiatives, will fuel Apple's growth in the year ahead, according to industry experts. India's vibrant community of app developers now supports more than 1 million jobs. App Store payouts to developers in the country have more than tripled since 2018. At the iOS App Design and Development Accelerator in Bengaluru, Apple works one-on-one with developers to help take their apps from good to great. Since 2017, the accelerator has hosted sessions for more than 15,000 developers, enabling them to build on their ideas and bring cutting-edge apps to the market. As part of Apple's commitment to be 100 per cent carbon neutral for its supply chain and products by 2030, all active Indian manufacturing supply chain partners are committed to using 100 per cent clean energy for their Apple operations. Apple began manufacturing iPhone in India in 2017, and since then, the company has worked with suppliers to assemble iPhone models and produce a growing number of components. Apple recently launched educational programming in India focused on women's health, as part of the company's $50 million Supplier Employee Development Fund which was founded in 2022 to educate supplier employees on new skill development, rights awareness, and other learning opportunities. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/ather-finally-focuses-on-affordable-electric-scooters-after-losing-its-lead-to-ola-electric-and-tvs-motor/articleshow/99456189.cms">Ather finally focuses on affordable electric scooters after losing its lead to Ola Electric and TVS Motor</a> <a href="https://www.businessinsider.in/tech/news/17-of-people-store-financial-information-on-their-smartphones/articleshow/99426637.cms">Despite a rise in financial frauds, 17% of people store financial information on their smartphones</a> <a href="https://www.businessinsider.in/tech/news/most-common-passwords-can-be-easily-cracked-by-ai-in-under-a-minute/articleshow/99379900.cms">AI chatbots are cracking the code: How PassGAN can break into 51% of common passwords in under a minute</a>

Excited to build on Apple's long-standing history in India: Tim Cook

New Delhi, Jun 1 () Tata Power on Monday said it has completed the acquisition of 51 per cent stake in TP Central Odisha Distribution Ltd (TPCODL) for Rs 178.5 crore. TPCODL carries out the business of Central Electricity Supply Utility of Odisha (CESU). The acquisition paves the way for taking over the power supply business of five cities in Odisha by Tata Power. "Tata Power has today acquired 51 per cent equity stake in TPCODL at a consideration of Rs 178.5 crore," a Tata Power statement said. According to the statement, GRIDCO will hold the rest 49 per cent stake in TPCODL. TPCODL was incorporated on April 6, 2020 as a wholly-owned subsidiary of GRIDCO to carry out the business of CESU. Tata Power said it has taken over the management of CESU, after receiving the Letter of Intent from the Odisha Electricity Regulatory Commission (OERC) for the distribution and retail supply of electricity in Odisha's five circles consisting of Bhubaneswar, Cuttack, Puri, Paradeep and Dhenkanal. As per an order issued by OERC on May 28, 2020, Tata Power will hold 51 per cent equity with management control and state-owned GRIDCO will have the remaining 49 per cent equity stake in the company. Tata Power has committed to improving and modernising the distribution system in the five circles. The priority of the company is to improve reliability, reduce AT&amp;C losses and offer excellent customer service. As per the agreement, the company will retain all the existing employees of CESU and will govern them by their existing policy structure. Tata Power will provide better opportunities and facilities to the employees to update their knowledge and skills along with an exposure to best practices and cutting edge technologies as part of the changed management in CESU. "Our tie-up with CESU is a huge development for Tata Power. We are committed to provide reliable, affordable and quality power supply along with superior customer service, backed by innovative technology. The success of our Delhi, Mumbai and Ajmer distribution businesses are testament to this fact," Tata Power CEO &amp; MD Praveer Sinha said. Sanjay Banga, President - T &amp;D, Tata Power said the company endeavours to bring about a positive transformation in Odisha by deploying smart grid technologies to supply reliable and quality power. "Our customer-centric approach aims to enhance all aspects of customer services with smooth and efficient power distribution operations," he added. KKS KKS ANU ANU

You Searched For "mumbai electricity cut" and got 9 results

Gadkari invites players for electric lane of Delhi-Mumbai Expressway

PTI

Coronavirus pandemic: Maharashtra govt announces 8 pc cut in electricity tariff for 5 years

PTI

Tata Nexon EV fire: government orders probe into the incident

IANS

Ease of doing business: India ranks 130 in World Bank report

BI India Bureau

Kinetic Green launches New electric-scooter ZULU

PTI

A Tesla fan in India preordered a Model 3 in 2016. He waited 7 years, and the car still hadn't shown up.

Aditi Bharade

Business highlights

PTI

Excited to build on Apple's long-standing history in India: Tim Cook

IANS

Tata Power completes 51 pc stake buy in Odisha's TPCODL for Rs 179 cr

PTI

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