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Misplaced activism undermining development: The Hasdeo story

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3 years ago

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What does Parsa in Hasdeo, Chhattisgarh, have in common with the northwest German village of Lutzerath or Brasilia in Brazil? They are hubs for protests against coal mining, with well-funded activists taking the forefront citing lack of protection for indigenous reserves.

In Chhatisgarh, the ‘adivasis’ (tribals) in Hasdeo have been resisting the destruction of their lands because of the coal mines in which Rajasthan government’s owned power company, Rajasthan Rajya Vidyut Utpadan Nigam Limited, has invested heavily for commissioning of 4,400 MW of thermal power stations.

They are supposed to source coal from its three Parsa East-Kanta Basan (PEKB), Parsa and Kente Extension Coal Blocks with annual production of close to 30 million tonnes.

However, it has been able to produce only half of it from the first phase of PEKB Block while both Parsa and Kente Extension coal blocks have failed to take off, courtesy the protests.

Meanwhile, in Brazil, indigenous groups have held many protests to pressure lawmakers into strengthening protection for indigenous reserves and limit illegal activity by miners and ranchers encroaching on their territory.

In Germany, protestors in Lutzerath are protesting the planned expansion of a nearby coal mine as they believe that the village has long been doomed to disappear to allow the gigantic Garzweiler open-pit lignite mine to expand further.

But Parsa’s case differs from Brazil and Germany. The vast majority of Brazil’s electricity is produced by hydro power with just 3 per cent coming from coal, some of which is imported.

Germany, on the other hand, is planning to abandon coal by 2030 as part of the transition away from fossil fuels and toward cleaner energy sources.

In India, the major production of electricity is achieved through coal, which is around 75 per cent of the total power generation. India’s per capita electricity consumption is half of Brazil, one-fourth of China and sixth of Russia among BRIC nations.

India has the fifth largest coal reserves in the world and it is the most affordable fuel for the developing nation.

Also, unlike Brazil, Parsa’s units are not illegal. The five petitions filed by protestors against the coal mines in Parsa at the Chhattisgarh High Court have been rejected.

But both the mines are still facing the heat of the protests, making the financial condition of hundreds of families, who willingly offered their land for the critical mine project a couple of years ago, worse.

Locals are neither able to carry on their agriculture activities nor are there any job prospects due to delayed mining projects. They are compelled to live on the money they received as compensation for their land.

Besides, thousands of direct and indirect jobs in the underdeveloped region, Rajasthan power utility is estimated to pay nearly Rs 2,000 crore to the Chhattisgarh government in terms of various taxes and royalties. Hence, it is critical for the financially weak state-owned power utilities to have captive coal blocks since there are unable to afford expensive imported coal.

But what the activists behind this smear campaign, who the locals believe are sponsored, don’t understand is that Rajasthan will plunge into severe power crisis if it fails to kickstart coal production from the second phase of PEKB Block where it is not possible to recover coal anymore from the first phase. Also, coal production from Parsa and Kente Extension blocks is critical for Rajasthan’s energy security in the future.

A senior official from Ventura Securities last week said steep electricity prices will not only affect households but also have an impact on the overall economy as well. Especially at a time, when the country is trying to be self-sufficient and self-reliant and is in the process of becoming a stiff competitor to international market giants like China.

As far as environmental hazards go, to say that the economic landscape for coal mining has changed dramatically in the past two decades won’t be incorrect.

According to a report by Coal Ministry in 2021, the government has put major thrust on sustainable development in coal mining and is taking multi-pronged action on both environmental and social fronts.

The Coal Ministry has moved forward with a comprehensive sustainable development plan and has initiated its speedy implementation.

Primary focus is on making immediate social impact through Out of Box measures, besides regular environmental monitoring and mitigation during mining operation.

PEKB, Parsa and Kente Extension blocks will be operated by long-term agreement for Mine Development and Operations (MDO) instead of conventional and inefficient short-term contracts for coal excavation.

In the case of MDO model, the mine developer and operator must ensure “responsible mining” practices. This compels mining companies to address the interests of all the stakeholders, including the local community and the government.

According to Indian legal and regulatory frameworks, the lease holder of the coal mine must compensate for tree felling by even higher afforestation. Both PEKB Block’s second phase and Parsa blocks have received all the approvals from the local communities, state and Central government authorities.

Rajasthan is facing hurdles on account of misinformation spread by a handful of professional activists targeting the development of its coal blocks.

The debaters are arguing that Rajasthan’s coal blocks will affect the biodiversity of Hasdeo forests by undermining Rajasthan’s impressive records in afforestation.

Rajasthan power utility has planted more than eight lakh trees to compensate for the impact on the local ecology to make PEKB Block the model mine in the country.

Rajasthan’s power utility is one of the first mining lease holders to deploy heavy duty tree transplanters to relocate more than 9,000 trees instead of cutting them down. Further, Chhattisgarh’s Forest Department has already planted more than 60 lakh trees.

In absence of desired support from the locals of the mining areas, resourceful activists have launched big budget social media campaigns. In April 2022, project-affected people came together in large numbers to urge the Chhattisgarh government to allow Rajasthan for its mining operations. However, the situation is still far from desirable.

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Bharat Mobility Global Expo 2025: Toyota & Lexus Unveil Future Projects In Indian Portfolio; Images Below

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8 hours ago

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January 22, 2025

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New Delhi: Japanese car maker Toyota and it’s luxury arm, Lexus have showcased some of their future models from their respective India portfolios at the Bharat Mobility Global Expo 2025. Toyota’s standout concepts include the X-Van, bZ4X, and Urban EV, while Lexus has captivated audiences with the ROV Concept 2 and LF-ZC.

Toyota’s star studded lineup

Moreover, Toyota showcased some of its updated and facelifted models during the autoshow. The Japanese car maker features included the Prius Flexi-Fuel PHEV, the Hilux FCEV, and a detailed cross-section of the Innova Hycross hybrid. Additional highlights include the striking Hilux Black Edition and the Land Cruiser 300 GR Sports, adding excitement to the brand’s lineup.

Toyota X-Van (Concept)

The X-Van, envisioned as a futuristic MPV, is designed to redefine spaciousness and versatility to meet diverse customer needs. This boxy, three-row utility vehicle eliminates the B-pillar, resulting in an expansive glasshouse and flexible seating configurations, available in 1-3-2 or 2-2-2 layouts. It features sliding suicide doors, a three-pane sunroof, and robust plastic cladding on the lower sections, adding a rugged and bold aesthetic to its innovative design.

Toyota BZ4X

The bZ4X electric SUV concept, first unveiled in 2021, is built on the e-TNGA architecture developed with Subaru. Its design features sharp styling, chunky black wheel-arch trim, a contrasting roof, and a silhouette influenced by the popular RAV4 SUV. The front showcases Toyota’s ‘Hammerhead’ design language, reminiscent of the latest Camry sold in India.

In global markets, the production-spec bZ4X comes with a 71.4kWh battery, offering a WLTP range of 450km. It’s available in two variants: a single-motor version (204hp, 265Nm) and a twin-motor AWD version (218hp, 336Nm).

Lexus LF-ZC (Concept)

The Lexus LF-ZC concept offers a glimpse into the premium electric sedan slated for international launch next year. Designed with a modular structure, its centrally placed batteries free up space for versatile front and rear configurations, supporting both single- and dual-motor setups. Lexus claims the top-spec LF-ZC will deliver a range exceeding 1,000km upon production.

The concept features Lexus’s latest design language, emphasizing sharp, aerodynamic styling. Inside, it boasts a futuristic cockpit with a steering yoke incorporating steer-by-wire technology and digital control pads seamlessly integrated across the cabin.

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Maha govt signs 31 MoUs for investment proposals worth Rs 6,25,457 crore at Davos

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13 hours ago

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January 22, 2025

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Mumbai, Jan 22: The Maharashtra government has signed a record 31 MoUs with investment proposals worth Rs 6,25,457 crore in the field of steel, metals, renewable energy, infrastructure, cement, Lithium-Ion Batteries and Solar Modules on the sidelines of World Economic Forum summit at Davos.

The MoUs were signed on Tuesday in the presence of Chief Minister Devendra Fadnavis and senior government officers.

CM Fadnavis said, “The MoU signed today paves the way for Maharashtra’s comprehensive growth and development.” He further stated that this marks a new record for securing such a significant investment amount in a single day. Similarly, several investment agreements are expected on the second day as well.

Of the Rs 6,25,457 crore, JSW will invest a record Rs 3 lakh crore for Maharashtra’s Green Transformation and Tata Group will also make an investment of Rs 30,000 crore in multiple sectors.

The Chief Minister met with key executives of several companies and invited them to invest in Maharashtra. Among these, Tata Group Chairman N. Chandrasekaran held discussions with CM Fadnavis during which it was confirmed that the Group would invest Rs 30,000 crore in the state. The CM also met Carlsberg Group CEO Jacob Aarup-Andersen, who expressed interest in investing in Maharashtra.

The Chief Minister assured him of full cooperation for the group’s plans. Additionally, M.A. Yusuff Ali, Managing Director of the Lulu Group, conveyed interest in investing in Nagpur and expanding operations in Maharashtra.

CM Fadnavis held discussions with ReNew Power Chairman and CEO Sumant Sinha about a 15,000 MW pipeline and wind energy projects in the Beed district. Schneider Electric India’s Managing Director and CEO Deepak Sharma also met the Chief Minister. Discussions included the use of AI in the energy sector and strengthening ITIs in the state with assistance from the World Bank. Expansion plans in Ahilyanagar and Nashik were also hinted at. Mastercard APAC President Ling Hai held talks with CM Fadnavis, while Louis Dreyfus Company CEO Michael Gelchie discussed opportunities in agriculture, food processing, international shipping, and financial sectors. Emphasis was placed on enhancing collaboration in agriculture. The CM also met Cognizant CEO Ravi Kumar S. and discussed potential investments and opportunities.

“The series of meetings highlighted Maharashtra’s focus on attracting substantial global investments and fostering economic development,” said the Chief Minister’s Office in a release.

CM Fadnavis in his post on X said, “Extremely happy to witness the historic Rs 3,00,000 crore MoU signing between Govt of Maharashtra & JSW Group, with an employment generation of 10,000 in the regions of Chhatrapati Sambhajinagar, Gadchiroli, and Nagpur. Very much thankful to Sajjan Jindal ji for being a part of this historic moment at Davos, which will give a huge boost to Maharashtra’s industrial environment. It will give a big boost to Maharashtra’s industrial environment. The areas of this investment like Renewable Energy, Infrastructure, Cement, Lithium-Ion Batteries, and Solar Modules will play a huge role in our mission ‘Green Maharashtra.”

The government signed an MoU with Waaree Energy with a total investment of Rs 30,000 crore in green energy and solar components. it will create 7,500 jobs. The company chairman Hitesh Joshi was present.

The government inked an MoU with Blackstone-Panchshil Realty for an investment of Rs 25,000 crore for the development of the data centre. It will generate 500 jobs. Further, Blackstone will invest Rs 25,000 crore in Information Technology in the Mumbai Metropolitan Region. It will create 1,000 jobs.

The government inked an MoU with Erulearning Solutions for an investment worth Rs 20,000 crore in education. The government signed an MoU with ZR2 Group for investment worth Rs 17,500 crore in automobiles and EVs in Pune region to generate 4,000 jobs.

The state government and Balasore Alloys Ltd signed an MoU for investment of Rs 17,000 crore in steel and metals. The venture will generate 3,200 jobs. The company was represented by Satish Kaushik at the time of the signing of the MoU.

The state government and Reliance Infrastructure Ltd signed an MoU for investment worth Rs 16,500 crore in the defence sector. It will generate 2,450 jobs. The company was represented by Sateesh Seth.

Powerin Urjaa will invest Rs 15,299 crore in green energy and generate 4,000 jobs. Open Origin India Inc will invest Rs 15,000 crore in green energy to create 1,000 jobs.

Viraj Profiles Pvt Ltd and the state government inked an MoU for the investment of Rs 12,000 crore in steel and metals to generate 3,500 jobs. Neeraj Raja Kochhar, Chairman and MD of Viraj Profiles was present at the time of the signing of the MoU.

Avani Power Batteries will make investment of Rs 10,521 crore in electronics to generate 5,000 jobs in Chhatrapati Sambhajinagar. H2e Power will invest 10,750 crore in green energy to create 1,850 jobs in Pune region.

The government signed an MoU with Rural Enhancers for investment worth Rs 10,000 crore in social sectors including hospitals.

The government inked an MoU with Welspun for an investment worth Rs 8,500 crore in logistics to generate 17,300 jobs.

Essar in partnership with Blue Energy will invest Rs 8,000 crore in green energy to create 2,000 jobs.

Further, United Phosphorus will make an investment of Rs 6,500 crore in green energy to generate 3,000 jobs. The government signed an MoU with Olectra EV for investment worth Rs 3,000 crore in automotive and EV to generate 3,000 jobs.

Kalyani Group will invest Rs 5,250 crore in defence, steel and EV. It will create 4,000 jobs. The MoU was signed in the presence of CM Fadnavis and Vice-Chairman & Joint MD of Bharat Forge Limited Amit Kalyani. “Thank you Amit Kalyani for joining this MoU signing at Davos! This investment is special because it is coming to Gadchiroli, which will give better lives to so many,” said the chief minister.

Gensol will invest Ra 4,000 crore in electronics in Chhatrapati Sambhajinagar to create 500 jobs. The government inked an MoU with & El Mont for the investment of Rs 2,000 crore in infrastructure. It will generate 5,000 jobs. The company director Kabir Bhandari was present.

BookMyShow will invest Rs 1,700 crore in the entertainment sector to generate 500 jobs. Further, the government signed an MoU with Tembo for an investment worth Rs 1,000 crore in the defence sector. It will create 300 jobs. The company director Shabbir Merchant was present on the occasion.

The government also inked an MoU with AB InBev in the F&B segment for investment worth Rs 750 crore. Kartikeya Sharma, President, India & South East Asia of AB InBev was present on the occasion.

Moreover, the government inked an MoU with CEAT Limited for investment worth Rs 500 crore in automotive and EC to generate 500 jobs.

Bisleri International will invest Rs 250 crore in food and beverages in the Mumbai Metropolitan Region to create 600 jobs. The MoU signed paves the way for Maharashtra’s comprehensive growth and development.

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India sees surge in deal activity at record $116 billion in 2024

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1 day ago

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January 21, 2025

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New Delhi, Jan 21: India’s deal-making landscape witnessed a landmark year in 2024, with a record 2,186 deals valued at $116 billion, marking a 33 per cent increase in volumes and 76 per cent surge in values (year-over-year), a report showed on Tuesday.

Driven by India’s status as the fastest-growing G20 economy, with a 7 per cent growth rate driven by robust domestic demand, the country’s deal-making activity reached new heights, defying global economic uncertainty, and demonstrating the resilience of its economy, according to the Grant Thornton Bharat ‘Annual Dealtracker 2024’.

“As we look ahead to 2025, we are optimistic about the prospects for continued robust deal activity, fuelled by government reforms, a stable economy, and a thriving tech ecosystem, making India an attractive destination for investors despite global uncertainties,” said Shanthi Vijetha, Partner, Growth at Grant Thornton Bharat.

The mergers and acquisition landscape witnessed a record-breaking year, with 683 deals valued at $44.1 billion, marking a 37 per cent increase in volumes and a 75 per cent surge in values compared to the previous year.

Domestic consolidation drove growth, with 479 deals amounting to $23.5 billion, a 64 per cent increase in values, led by Indian conglomerates such as Adani Group, Aditya Birla Group and Nazara Technologies.

Outbound M&A also witnessed significant growth, with 121 deals valuing $16.9 billion, driven by two billion-dollar deals, according to the report.

The private equity landscape demonstrated resilience in 2024, with 1,298 deals raising $31 billion, up from 1,046 deals valuing $27.4 billion in 2023.

The year witnessed a 26 per cent rise in high-value deals (estimated at and over $100 million) and two billion-dollar deals.

The initial public offerings (IPO) activity reached unprecedented heights in 2024, defying global economic headwinds, with 86 listings raising a record $21 billion, more than triple the $6.2 billion raised in 2023, said the report.

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