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The <keyword id="20163832" type="General" weightage="20" keywordseo="society-of-indian-automobile" source="keywords">Society of Indian Automobile</keyword> Manufacturers (<keyword id="108827" type="General" weightage="20" keywordseo="siam" source="Orion">SIAM</keyword>) and big auto players have hailed the Cabinet decision of PM e-DRIVE schemes aimed at promoting electric mobility across the country. The Rs 10,900 crore scheme will support 2,479,000 electric 2-wheelers, 316,000 electric 3-wheelers and 14,028 electric buses, along with 88,500 <keyword id="186291" type="General" weightage="100" keywordseo="ev" source="Orion">EV</keyword> charging sites. Shailesh Chandra, President of <keyword id="108827" type="General" weightage="20" keywordseo="siam" source="Orion">SIAM</keyword> and Managing Director of Tata Motors Passenger Vehicles Ltd &amp; Tata Passenger Electric Mobility Ltd, expressed strong support for the government's forward-thinking initiative. Chandra said, "This forward-thinking initiative reflects the Government's unwavering support for <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s transition to electric mobility, fostering innovation and investment within the sector. We beli<keyword id="186291" type="General" weightage="100" keywordseo="ev" source="Orion">ev</keyword>e this scheme will not only enhance the growth of the EV ecosystem but also strengthen <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s leadership in the global movement towards environmental sustainability." Dr Anish Shah, Group CEO &amp; MD, Mahindra Group also commended government's efforts, specifically highlighting the comprehensive nature of the PM e-DRIVE scheme. Shah said, "We applause the government for launching the PM e-drive scheme. With continued focused support on 2Ws, 3Ws, e-buses and thoughtful addition of e-ambulances, the scheme will drive higher EV penetration in the country." M&amp;M noted that schemes like <keyword id="21028" type="General" weightage="20" keywordseo="fame" source="Orion">FAME</keyword> and <keyword id="48070" type="General" weightage="20" keywordseo="emps" source="Orion">EMPS</keyword> have already driven penetration of electric three-wheelers in India. "Investments laid out for fast charging infrastructure for all segments will help in increasing consumer confidence for faster adoption of EVs. <keyword id="21028" type="General" weightage="20" keywordseo="fame" source="Orion">FAME</keyword> and <keyword id="48070" type="General" weightage="20" keywordseo="emps" source="Orion">EMPS</keyword> have helped in 20 per cent e-3W penetration in the country. With PM e-drive, we foresee India becoming the first country to achieve 100 per cent electrification in this segment by 2030", he added. The Union Cabinet, on Wednesday, cleared the 'PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM e-DRIVE) Scheme,' with a total outlay of Rs 10,900 crore over two years. It includes Rs 3,679 crore in subsidies and demand incentives for e-2Ws, e-3Ws, e-ambulances, e-trucks, and other emerging electric vehicles. It is expected to support the deployment of 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses, providing a significant push to India's EV ecosystem. A critical aspect of the scheme is the introduction of e-vouchers for EV buyers. At the time of purchase, an Aadhaar-authenticated e-voucher will be generated, which will enable buyers to avail of demand incentives. Additionally, the scheme allocates Rs 500 crore for the deployment of e-ambulances, marking a new initiative to integrate electric vehicles into essential public services. Another Rs 4,391 crore has been earmarked for the procurement of 14,028 e-buses, with a demand aggregation process led by CESL in nine major cities, including Delhi, Mumbai, and Bangalore. Intercity and interstate e-buses will also be supported in consultation with states. Furthermore, Rs 500 crore has been set aside to incentivize the adoption of e-trucks, a critical move given that trucks are one of the largest contributors to air pollution. The scheme encourages those with a scrapping certificate from <keyword id="19897457" type="General" weightage="20" keywordseo="ministry-of-road-transport" source="keywords">Ministry of Road Transport</keyword> and Highways-approved (MoRTH) vehicle scrapping centres to participate in this transition. With an allocation of Rs 2,000 crore, the scheme will support the installation of 22,100 fast chargers for four-wheelers, 1,800 fast chargers for e-buses, and 48,400 fast chargers for two- and three-wheelers. These chargers will be installed in cities with high EV penetration and along selected highways, making long-distance EV travel more viable.

Automobile industry hails PM e-DRIVE scheme to promote EVs

India will spend nearly Rs 143 lakh crore on infrastructure between fiscals 2024 and 2030, more than twice the Rs 67 lakh crore spent in the past seven financial years starting 2017, rating agency Crisil said on Tuesday. Of the total, Rs 36.6 lakh crore will be green investments, marking a five times rise compared with the amount spent during fiscals 2017-2023, it added. "India's infrastructure spending will double to Rs 143 lakh crore between fiscals 2024 and 2030, compared with 2017-2023," Crisil said in its Infrastructure Yearbook 2023. Crisil Ltd managing director and CEO Amish Mehta said the agency expects India's gross domestic product to grow at an average 6.7% through fiscal 2031 to be the fastest-expanding large economy. "Per capita income is seen rising from USD 2,500 now to USD 4,500 by fiscal 2031, creating a middle-income country," he said, adding that this growth will be underpinned by massive all-round infrastructure development, with sharp focus on integrating sustainability." While releasing '<keyword id="19169539" type="General" weightage="20" keywordseo="crisil-infrastructure-yearbook-2023" source="Orion">CRISIL Infrastructure Yearbook 2023</keyword>', which includes a unique national index CRISIL InfraInvex, Mehta said policy interventions and a conducive investment climate have aided the uptrend in the CRISIL InfraInvex scores across sectors. "Four of these -- roads and highways, power transmission, renewable energy and ports -- have an overall score of 7-plus (out of 10), which underscores the pace of reforms and developments of the past few years," he added. The rating agency noted that the next phase of infrastructure development will be marked by growth in the average ticket size of projects and a significant number of mega-scale projects. Appropriate and consistent policy and regulatory interventions and focus on timely execution build an attractive case for various stakeholders to accelerate investments across infrastructure sectors, Crisil said. The renewable push The rating agency predicted that prominent sectors such as roads and power are expected to remain major contributors, while relatively nascent ones such as <keyword id="312660" type="General" weightage="20" keywordseo="EVs" source="Orion">EVs</keyword>, solar, wind, and hydrogen will pick up pace. "The share of EVs in India's overall automobile sales is likely to reach 30% by 2030. "Two-wheeler EV sales are expected to outpace other segments up to 2028, while demand for EV buses will be driven by state transport undertakings," it said. According to Crisil, favourable total cost of ownership and total cost of acquisition, as well as model availability for two- and three-wheelers will support EV offtake in coming years. It said the share of renewable energy in total capacity is estimated to grow 4x between fiscals 2023 and 2030. While solar will account for half of the incremental non-fossil generation, Crisil said there is a growing need to leverage emerging technologies such as 'floatovoltaics' (floating solar), offshore wind technology and green hydrogen. Noting that the hydrogen sector is poised to attract substantial investments, estimated at Rs 1.5 lakh crore between fiscals 2024 and 2030, the rating agency said mandates for green hydrogen use and incentive schemes will be important here considering the cost of production of green hydrogen is twice that of fossil-based hydrogen. Crisil said India's first sovereign green bond issuance will pave the way for the development of the domestic bond market for green issuances. Over the past few years, global experience has shown increasing appetite for green assets among investors, leading to Indian companies seeking funds in global markets, it added.

India's infra spending to ride EV, solar, wind and hydrogen push

Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> on Tuesday asked the automotive industry to bring global best practices to <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>, while also working on green and <keyword id="7340072" type="General" weightage="100" keywordseo="clean-mobility" source="Orion">clean mobility</keyword>. In a written address to the annual convention of the <keyword id="20163832" type="General" weightage="20" keywordseo="society-of-indian-automobile" source="keywords">Society of Indian Automobile</keyword> Manufacturers (SIAM), Modi said the automotive industry will drive even higher economic growth and in turn, thrive on demand growth. "As we shift gears towards our collective goal of a Viksit Bharat by 2047, I am confident that organisations like SIAM will continue to bring together all stakeholders and become a force multiplier in this mission," he said. The prime minister said the road ahead demands that the country's progress is rapid, while also being sustainable. "Working (on) greener and cleaner mobility is a vital step in this direction. It is important that this climate-conscious and sustainable vision resonates with domestic and international partners," he asserted. "Further, at this critical juncture for India and the world, it is essential that our automobile sector set not only an example for others to follow, but also work towards bringing global best practices to India. I am confident that the discussions and deliberations during the Annual Convention will serve as a catalyst for this," he added. He further said, "Through innovation and enterprise, I am sure that the automotive industry will drive even higher economic growth and in turn, thrive on the demand growth that inevitably creates." He said over the last decade, India's automotive sector has witnessed tremendous and unprecedented growth. "This is as much a testament to our nation's expanding economic growth, as it is to the pivotal role played by the automotive industry," Modi said. The success story of Indian mobility is noteworthy. The nation is witnessing the creation of future-ready infrastructure, such as state-of-the-art expressways, high-speed railways and other forms of multi-modal connectivity that reaches every corner, the prime minister noted. "The holistic approach is ensuring that the benefits of growth are not just confined to a few, but shared by all," Modi said.

PM Modi asks automakers to bring global best practices to India, focus on clean mobility

<ul class="summary-list"><li>Indian billionaire Karan Adani announced plans to challenge Chinese dominance in global seaports.</li><li>Adani Ports has received "in-principle" approval for a $2 billion project in Da Nang, Vietnam.</li></ul>Karan Adani, the <a target="_blank" class="" href="https://www.businessinsider.com/gautam-adani-succession-planning-sons-nephews-take-over-retirement-handover-2024-8">son of one of Asia's richest men</a>, wants to loosen China's grip on seaports and transform India into a major trading hub."We are working on making India the center point of the overall supply chain from east to west," said Karan in an interview with <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-08-05/adani-ports-aims-to-grow-india-into-global-trading-hub-in-challenge-to-china">Bloomberg</a> for their "Inside Adani" series.Karan, who is the CEO of Adani Ports, said that the company had received an "in-principle" from the Vietnamese government for a potential $2 billion greenfield project in Da Nang.This would be the latest addition to the Adani Ports' portfolio. In 2022, it <a target="_blank" class="" href="https://www.thehindubusinessline.com/economy/logistics/with-haifa-port-acquisition-adani-sets-its-eyes-on-opportunities-in-europe/article65643118.ece">won a joint bid</a> on the Israel government's tender to buy the Haifa Port for $1.2 billion.It also owns port assets in Colombo in Sri Lanka and the Port of Dar es Salaam in Tanzania.<h2 id="b168f51e-af17-4dfd-93ff-9422bbccd00f">Loosening China's grip</h2>India has long feared that China is surrounding its country with ports. The trade infrastructure in the Indian Ocean is often referred to as China's "string of pearls".China's <a target="_blank" class="" href="https://www.businessinsider.com/china-spends-twice-us-but-belt-road-initiative-losing-steam-2021-9">Belt and Road initiative</a> (also referred to as the New Silk Road) involves buying up multiple ports across the world to build a sea route running from the coast of China through the major transit route of the Indian Ocean and the busiest maritime points of the Middle East, and ending in Europe.<a target="_blank" class="" href="https://www.washingtonpost.com/world/interactive/2023/china-ports-trade-military-navy/">According to the Washington Post</a>, the majority of investments in Chinese-owned ports have been made by companies owned by the Chinese government, which would make the Chinese Communist Party the biggest operator of the ports that fuel global supply chains.The <a target="_blank" class="" href="https://www.cfr.org/tracker/china-overseas-ports">Council on Foreign Relations states</a> that China operates or has ownership stakes in at least one port in every continent except Antarctica. 92 out of the 101 ports were active as of 2023.The <a target="_blank" class="" href="https://www.ft.com/content/a7c2b2f6-e106-436d-a599-cfcc69d18b05">Financial Times</a> cited a report by the Qianzhan Industrial Research Institute stating that China invested at least $40bn in coastal port infrastructure between 2016 and 2021.It also showed that China has 76 port terminals able to support large ships carrying more than 14,000 20ft containers, while south and south-east Asian countries have just 31 between them.<a target="_blank" class="" href="https://www.fortuneindia.com/enterprise/adani-kerala-to-fast-track-vizhinjam-port-completion-with-rs-20000-crore-investment/117536">Fortune India reported</a> that so far, 75% of India's transshipped cargo is handled by ports outside the country.The Adani Group wants to change that.<h2 id="f5591fc4-d44e-43a5-90bb-81fe08ef0678">Making India the world's factory</h2>The company has openly aligned its business interests with Indian Prime Minister Narendra Modi's development agenda of making India the world's factory.Earlier this month, it welcomed the first mother ship in the first phase of its port in Vizhinjam harbor, a project undertaken with the state government of Kerala in India.Expected to reach completion in 2028, the seaport aims to handle up to half of India's container transshipment needs.According to the Bloomberg Billionaires Index, Adani Enterprises, the group's main company, reported revenue of $11.6 billion in 2024, and Karan Adani's father, Gautam Adani, owns a 75% stake.The 62-year-old is worth over $80 billion and <a target="_blank" class="" href="https://www.businessinsider.com/gautam-adani-succession-planning-sons-nephews-take-over-retirement-handover-2024-8">announced his succession plan</a> on Monday — naming his sons Karan and Jeet and nephews Pranav and Sagar as heirs to the Adani Group.The Adani family have previously faced scrutiny for their close ties to Modi, and allegations of preferential treatment from the Modi government.The Adanis frame the association as a desire to improve the country, with the Chairman's Message on the Adani Group website promising to "foray into sectors where the country needs to establish a foothold," and affirming that they will "look at these opportunities as part of our national duty."

An Indian billionaire has an audacious plan to take down part of China's economic masterplan

Strong demand for <keyword id="17408" type="General" weightage="20" keywordseo="infrastructure" source="Orion">infrastructure</keyword> investment, attractive returns, and favourable government policies have pushed fund mobilization through listed <keyword id="11931834" type="General" weightage="20" keywordseo="reits" source="Orion">REITs</keyword> and <keyword id="6425787" type="General" weightage="20" keywordseo="invits" source="Orion">InvITs</keyword> to Rs 18,658 crore in the April-September period of the current fiscal. This came following a fund collection of Rs 2,596 crore through listed Infrastructure Investment Trusts (InvITs) in the entire 2022-23, although the amount mopped up through listed <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">Real Estate</keyword> Investment Trusts (REITs) was nil, data with the Securities and Exchange Board of India (<keyword id="35210" type="General" weightage="20" keywordseo="sebi" source="Orion">Sebi</keyword>) showed. Going forward, experts believe that trends seen in REITs and InvITs will continue in the second half of the year too. "The fresh savings will continue similarly as has happened in the last six months, and the investments will continue to be towards InvITs as both the central government and the state governments continue to focus more on infrastructure development," Himanshu Kohli, Co-founder of Client Associates, said. Hence, the trends you have seen in REITs and InvITs will continue in the second half of the year, he said. According to Sebi data, Rs 18,658 crore was collected through these emerging investment vehicles in the April-September period of 2023-24. This comprises Rs 12,753 crore through InvITs and the remaining Rs 5,905 crore via REITs. Karan Shetty, Co-Founder of Claravest, a fractional ownership real estate investment platform, attributed several factors for the massive jump in fundraising through the route to favourable government policies, huge demand for investment in real estate, and the government's focus on urbanisation and infrastructure development. Additionally, other reasons for the surge in fund collection could be regular income provided by REITs and InvITs as these trusts are required to distribute 90 per cent of their income to investors regularly, gives diversification benefit, provides liquidity benefits as the units trade on stock exchanges and increased awareness and investor interest about the instruments, Feroze Azeez, Deputy CEO, Anand Rathi Wealth, said. Moreover, the government and the capital markets regulator Sebi have played an active role in popularising and promoting REITs and InvITs in India. Of the Rs 18,658 crore investment, Rs 12,753 crore was invested through InvITs, and the remaining Rs 5,905 crore via REITs. InvITs have been more popular than REITs in terms of fundraising, due to several factors as InvITs can invest in a wider range of assets than REITs, including roads, highways, bridges, railways, power transmission lines, renewable energy projects, and gas pipelines. Besides, InvITs are exempt from paying income tax at the trust level, which makes them more attractive to investors, Azeez said. "Further, the infrastructure sector in India is expected to grow significantly in the coming years, which is likely to drive the growth of InvITs," he added. REITs and InvITs are relatively new investment instruments in the Indian context but are extremely popular in global markets for passive income investors due to attractive yields and capital appreciation. While a REIT comprises a portfolio of commercial real assets, a major portion of which is already leased out, InvITs consist of a portfolio of infrastructure assets such as highways, and power transmission assets. InvITs and REITs help infrastructure developers monetise their assets and redeploy the capital into upcoming projects. However, these instruments are comparatively new to Indian investors with only four registered REITs and 22 registered InvITs, as of August 8, 2023, Sebi data showed. The value of mutual fund exposure to REITs and InvITs stood at Rs 8,416 crore as of September 30, 2023.

REITs,  InvITs collect Rs 18,658 cr in Apr-Sep on robust infra demand, attractive returns

<ul><li>In last year’s budget Finance Minister Nirmala Sitharaman had announced ₹5.5 lakh crore ($74 billion) as capital investments.</li><li>As of November 2021, less than half of that has been spent</li><li>However, if it were to step up spending in the last three months to cover some of the slack, it could mean large orders for private companies like Larson &amp; Toubro, Bharat Electronics, ABB and Siemens.</li><li>Check out our <a href="https://www.businessinsider.in/bi-newsletter">weekly explainers</a> on the hottest topics and <a href="https://www.businessinsider.in/newsletters_signup.cms">sign up</a> if you like them.</li></ul>A big part of the market rally that unfolded post the budget speech last year was the government’s commitment to spend big bucks on infrastructure. However, at the end of November 2021, less than half of the budgeted amount was spent. As a report from HDFC Securities pointed out, the difference between the budgeted amount and the actual spending this year has been the highest in the last 4 years. The second wave of the pandemic, and the third one that’s underway right now, may have set back some of the spendings. <div type="image" title="budget capex" height="900" width="1200" msid="88852484" hostid="261"></div>Finance Minister Nirmala Sitharaman had said that the government would make capital investments worth ₹5.5 lakh crore by March 2022 on roads, metro rail network, renewable energy, and in building other such infrastructure. Such spending results in orders for construction companies like Larson &amp; Toubro, Dilip Buildcon, KNR Construction and IRB Infrastructure Developers, as well as equipment providers like Bharat Electronics, ABB and Honeywell. And, therefore, in better economic growth. These are the shortfalls compared to the budget promise across different sectors: <div type="image" title="sector capex" height="900" width="1200" msid="88852502" hostid="261"></div>A recent report by Crisil said that the central <a href="https://economictimes.indiatimes.com/news/economy/indicators/public-capex-turns-the-corner-central-spending-seen-jumping-12-over-pre-pandemic-level-report/articleshow/88048366.cms?from=mdr">government expenditure on capital investments was up 31% compared to the last financial year</a>, which was also the first year of the pandemic. The same number, when compared to 2019, is higher by 13%. In September last year, the Finance Minister <a href="https://indianexpress.com/article/business/spends-lagging-finmin-asks-ministries-to-step-up-capex-7538316/">told ministries to increase the pace of spending</a> to meet the targets. However, October and November continued to be lean months, according to a report by Elara Securities. If the government decides to cover some of the slack in the last three months, it could result in some big orders flowing in. That could explain the recent rally in capital goods stocks. “The lag in the spending for capital goods and infrastructure in FY22 was because of COVID-19 and related spending. This time the spending for these sectors started in October 2021. Even historically, the spending is high in the third and fourth quarter only as giving out tenders and finally giving the order to specific companies takes a lot of time,” said Kranthi Bathini, director of equity strategy at WealthMills Securities, told Business Insider. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Capital good companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in last five days </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Greaves Cotton </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Suzlon Energy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">India Cements </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alok Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Varroc Engineering </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Green </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prism Johnson </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RHI Magnesita India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elgi Equipments </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Trident </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13% </td></tr></tbody></table>The market also hopes that the emphasis on capital investments will continue in the upcoming budget too. “Budget 2022 is most likely to focus on improving infrastructure. It might include a detailed list of public roads to railways assets, which the government plans to monetise during FY 2022-23. Reports also suggest that it might especially prioritise highways and expressways,” said a <a href="https://www.bajajfinservmarkets.in/markets-insights/budget/budget-2022.html">report </a>by Bajaj Finserv. “We expect major initiatives to be announced to stimulate capital expenditure both on the private and public side. This has been the thrust of the government since COVID hit the country’s growth. We expect schemes for outlay for development of infrastructure including major spending towards roads, irrigation, healthcare and smart cities,” Anshuman Khanna, Director at Value Prolific Consulting Services (ValPro) told Business Insider. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/tiger-global-led-82-million-round-in-fintech-startup-refyne/articleshow/88837462.cms">INTERVIEW | This one-year-old startup raised $82 million led by Tiger Global to offer employees advance on their salaries</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/this-stock-has-gained-51-in-the-last-five-days-on-investors-new-found-love-for-electric-vehicles/articleshow/88841859.cms">This stock has gained 51% in the last five days on investors’ new-found love for electric vehicles</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/government-owning-vodafone-idea-is-just-half-the-task-the-other-half-is-to-find-the-money/articleshow/88836355.cms">Government owning Vodafone Idea is just half the task – the other half is to find the money</a>

The Indian government has spent less than half the money it had budgeted for capital investments, so far

Last year, transport minister Nitin Gadkari said that road accidents are “more serious than the COVID-19 pandemic," and this is corroborated by the data compiled by the National Crime Records Bureau. Over 1.55 lakh lives were lost in road crashes across India just in 2021, says a recent report by the NCRB. So, every day 425 people lose their lives on Indian roads and the recent high-profile death of former Tata Sons chairman Cyrus Mistry has put the spotlight yet again on <keyword id="87280" type="General" weightage="20" keywordseo="road-safety" source="Orion">road safety</keyword>. <div type="image" title="Over 1.55 lakh lives were lost in road crashes across India just in 2021: NCRB" msid="94084328" hostid="261" caption="&amp;lt;p&amp;gt;Over 1.55 lakh lives were lost in road crashes across India just in 2021: NCRB&amp;lt;/p&amp;gt;"></div> The report said that during 2021, two-wheelers have contributed 44.5% of total road accidental deaths (69,240 deaths), followed by cars at 15.1% with 23,531 deaths and trucks or lorries had a 9.4% contribution (14,622 deaths). <div type="image" title="Road accident fatalities have gone up since 2020" msid="94084331" hostid="261" caption="&amp;lt;p&amp;gt;Road accident fatalities have gone up since 2020&amp;lt;/p&amp;gt;"></div> The report also highlighted that overspeeding remains the biggest cause of road accidents—contributing to 56% of the total road crash deaths (87,050 deaths), followed by dangerous or careless driving, contributing to 27.5% of total crash deaths (42,853 deaths). Most of these road accidents in India have happened on national highways. India accounts for about 2% of motor vehicles globally. Yet, it is the <a href="https://www.thehindubusinessline.com/news/india-accounts-for-11-per-cent-of-global-death-in-road-accidents-world-bank/article33834556.ece">home </a>to more than 11% of the world’s road traffic deaths. According to a <a href="https://www.hindustantimes.com/analysis/it-s-time-to-put-an-end-to-india-s-road-safety-crisis/story-FrTmaEoqfKC1EnoryY4nxN.html#:~:text=According%20to%20a%20United%20Nations,rate%20of%2043%20a%20day.">UN study</a>, India loses 3% of its GDP to road accidents by removing prime-age adults from the workforce. Despite the high number of fatalities, in India, people wearing seat belts is a rare sight. While rear seat belts have been mandatory under the Central Motor Vehicle Rules, most kaali peeli taxis don’t even have seat belts for passengers. <div type="image" title="Most kaali peeli taxis don’t even have seat belts for passengers" msid="94084343" hostid="261" caption="&amp;lt;p&amp;gt;Most kaali peeli taxis don&amp;#8217;t even have seat belts for passengers&amp;lt;/p&amp;gt;"></div> Rear seat belts prevent fatality According to the World Health Organisation, the use of rear seat belts can prevent fatality by 25% and injuries by 75%. <div type="image" title="Use of rear seat belts can prevent fatality by 25% and injuries by 75%: NCRB" msid="94084418" hostid="261" caption="&amp;lt;p&amp;gt;Use of rear seat belts can prevent fatality by 25% and injuries by 75%: NCRB&amp;lt;/p&amp;gt;"></div> Reports suggest that Mistry was seated in the back and was not wearing a seatbelt. Now, after Mistry’s demise has sent shockwaves across the country, Gadkari said that even chief ministers don’t follow safety rules. Some ministers even use a clip so that the alarm does not make any sound, said Gadkari, when there is no belt. After the incident, Gadkari also said that the ministry is now working towards making six airbags compulsory in all cars. It was not too long ago, just in February 2022 that the Indian <a href="https://timesofindia.indiatimes.com/auto/cars/govt-makes-three-point-seat-belts-mandatory-for-all-front-facing-passengers-in-car/articleshow/89501540.cms">government </a>had also made it mandatory for automakers to provide three-point seat belts for all front-facing passengers in a car, which is also applicable for the middle seat in the rear row of a car. It is also stated in the rules Motor Vehicles Act 138(3) that fastening seat belts is compulsory for passengers sitting in the front as well as the rear seats. However, India fails to follow the law of its land. As per a 2019 report by SaveLIFE Foundation, less than 1% of people in India use rear seat belts. 37.8% of all the people surveyed didn’t even know that any such legal compulsion existed. While 23.9% of people didn’t even know that rear seat belts existed. The centre has also made it compulsory for all cars to have six airbags across from October 1. After losing his ‘good friend,’ minister Gadkari said that all cars exported out of India have 6 airbags and asked then why Indian cars have only four airbags. What India can learn from other countries In 1997, Sweden adopted a ‘Vision Zero’ policy based on the idea that “no loss of life was acceptable.” The policy did not focus on changing human behaviour, the emphasis was on designing a better system of roads and other infrastructure, vehicle technology and enforcement. On the other hand, Singapore uses advanced warning lights that alert drivers about the upcoming signal and vehicle speed. <a href="https://www.forbes.com/sites/peterlyon/2020/08/27/frightening-consequences-for-drink-drivers-in-japan/">Japan </a>also has a strict policy for drunken drivers. It has a zero percent blood-alcohol level standard for drivers and individuals caught driving under the influence can face imprisonment for up to 15 years. In Switzerland, passengers travelling in the same car as a drunk driver are also considered liable and can lose their own licenses. Apart from strictly enforcing speed limits and other road regulations, Norway has found a unique approach to reduce its fatalities. It has made it mandatory for drivers to always have their headlights on while driving. Safety measures taken by automakers From installing airbags and adding stringent seatbelt alarms to running awareness campaigns, automakers have been trying to up safety for India’s car passengers. Maruti, Hyundai and Tata Motors offer six airbags across some models. Luxury car companies like Mercedes-Benz, Audi and Volvo are also offering six airbags and the number increases on the higher-end models. Safety rules you must follow To stay safe, one must <a href="https://highwaypolice.maharashtra.gov.in/en/road-safety-guideline/#:~:text=Always%20obey%20Road%20safety%20rules,as%20markets%20and%20residential%20areas.">obey </a><keyword id="1501776" type="General" weightage="20" keywordseo="road-safety-rules" source="Orion">road safety rules</keyword> and regulations of India. <ul><li>Look for the traffic signs before you cross signals. </li><li>Drive within the speed limits prescribed. Ideally one should drive at approximately not more than 30 kmph near busy places such as markets and residential areas.</li><li>Keep vehicle oiled and serviced. A sudden breakdown of the vehicle on the road can cause hardships not only to you but also to fellow drivers and traffic personnel. </li><li>Stop or slow down your vehicle and allow the pedestrians to crossroads at unmanned/signalled Zebra crossings.</li><li>Always wear seat belts while driving four-wheelers.</li><li>Avoid rash or negligent driving.</li><li>Do not drink and drive.</li><li>Avoid using mobile phones while driving. In case of an urgent call, park the vehicle to the side of the road and put the brake lights on, and allow other motorists to pass by. </li><li>Turn the brake lights ON before stopping so that the vehicles behind can avoid a collision.</li></ul>Here's a small video <div type="image" title="All you need to know about India’s rules for road safety" msid="94084511" hostid="261" sizebytes="1771684" caption="&amp;lt;p&amp;gt;All you need to know about India’s rules for road safety&amp;lt;/p&amp;gt;"></div>Before we let you go, here's what we want you to know- Business Insider India brings you SaaS Scions, a 6-part video series chronicling Indian SaaS scions - SaaS leaders who have come to define this sector in India. And now for the world. <div type="image" title="Business Insider India brings you SaaS Scions" msid="94084538" hostid="261" caption="&amp;lt;p&amp;gt;Business Insider India brings you SaaS Scions&amp;lt;/p&amp;gt;"></div>

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SIMPLY PUT: All you need to know about India’s rules for road safety

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