Gujarat Current Affairs

India’s first interstate connected wind power project commissioned in Bhuj

126 MW wind power capacity, part of India’s first inter-state transmission system (ISTS) auction, was commissioned in Bhuj, Gujarat. It was part of India’s first ISTS auction was conducted by state-run Solar Energy Corporation of India Ltd (SECI) in February 2017.

Key Facts

This was bid for projects to be connected on ISTS wherein power generated from one state (renewable resource rich state) can be transmitted to other renewable deficient states. The energy generated from this project is being purchased by Bihar, Odisha, Jharkhand and Uttar Pradesh. The first auction signifies major shift from earlier regime of state-specific feed-in-Tariff (FiT) model to Pan-India, market-driven mechanism. It also marks beginning of capacity additions in wind power based on market discovered tariffs, in line with the Government’s plan of having 175 GW renewable energy by 2022.

Month: Categories: India Current Affairs 2018

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Gujarat signs MoU with Korea Trade-Investment Promotion Agency to strengthen trade, industrial relations

Gujarat Government’s Industries and Mines Department has signed Memorandum of Understanding (MoU) with Korea Trade-Investment Promotion Agency (KOTRA) to strengthen trade, industrial relations. KOTRA is national trade and investment promotion organisation operated by South Korea Government.

Key Facts

The MoU was signed with aim to recognize mutual desire to further enhance and strengthen India (Gujarat) and South Korea trade and industrial investment relations and encourage ongoing dialogue and cooperation. Under this MoU, both Industries Department of Gujarat and KOTRA will assist each other to provide in-market support.

The priority sectors in focus under this MoU are chemical, petrochemical and pharmaceuticals; new and renewable energy; start-up ecosystem; textiles and apparels; urban infrastructure; Food Processing and Agro related industries; Skill Training and Development; Automobile, etc.

Background

Gujarat is a leading destination for foreign investment and bilateral trade. It is a key contributor to India-South Korea economic relationship. Gujarat’s export to South Korea was around $1 Billion in 2017-18, which is approximately 25% of India’s total export to South Korea. In recent past, South Korean companies in the field of manufacturing, textiles and chemicals have also expressed interest in investing in Gujarat.

Month: Categories: States Current Affairs - 2018

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