Increasing solar capacities, employee vaccination, and record targets for food grain production: Three things Teji Mandi investors should know on April 30, 2021
Increasing solar capacities, employee vaccination, and record targets for food grain production: Three things Teji Mandi investors should know on April 30, 2021
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Solar Getting Big

India is taking important steps towards growing the contribution of solar in its overall energy mix.

However, the pace slowed down to five years ​​low​​ in CY2020. During the year​,​ India installed 3.2 GW of solar power projects across the country, down 56% on a yearly basis. The details are provided in a report from Mercom India Research.

The top three states in terms of large-scale solar power additions were Andhra Pradesh, Rajasthan, and Gujarat. These states cumulatively installed around 51% of the total projects installed in 2020.

By 2030, the Indian government targets to provide 450 gigawatts of renewable energy resources. Solar installations are a crucial addition to achieving them.

The research new capacity installations to grow over 10 GW in 2021 after slowing down in CY2020. However, a lot will depend on the ever-developing C​OVID-19 situation.

Steel Companies Rush For Vaccination

Top Indian steelmakers are in talks with COVID-19 vaccine manufacturers to get shots for their employees.

As per the reports, ArcelorMittal Nippon Steel India has already placed orders for around 45,000 jabs with SSI. While Tata Steel is in touch with vaccine makers, JSPL is also in the process of vaccinating all its 28,000 employees.

The steel sector is in a multi-year upcycle as economies around the world are looking to recover from the pandemic.

Domestic demand is high, and the export demand is expected to be strong as well, despite China's discouring steel export. Hence, steel companies need to stay operational to make the most of the opportunity.

Record Targets set for Food Grain Production

The government has set the production target for food grain at a record 307.31 mn tonnes for the crop year 2021-22.

During the Kharif season, 151.43 million tonnes of food grains were produced, and 155.88 million tonnes were produced during the Rabi (winter) season.

Rice production is expected to be 121.1 million tonnes, while wheat production is expected to be 110 million tonnes. The production of coarse grains like maize, millers, and bajra has been set up at 51.21 million tonnes. And, the output of pulses has been estimated at 25 million tonnes.

With the forecast of normal rainfall this year, the targets appear to be well within the reach. The government has also expressed satisfaction over the availability of seeds for all crops.

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