9NOVEMBER 2026The Union Cabinet has approved a Rs 14,500 crore energy storage scheme to develop 92 GWh of grid-scale storage capacity. The scheme will run from FY27 to FY31 and is expected to attract Rs 97,600 crore in investments. The initiative will support pumped hydro storage, battery energy storage systems (BESS) and emerging storage technologies. It aims to strengthen India's electricity grid and support the growing share of renewable energy.The Cabinet also cleared two other major initiatives. These include a Rs 2,814 crore scheme for critical mineral processing and a Rs 4,371.10 crore program to modernize India's official statistical system. The estimated investment across these projects stands at Rs 97,600 crore. The viability gap funding (VGF) support will improve project viability and encourage investments in large-scale storage infrastructure. The projects will be allocated through a tariff-based competitive bidding process. Public and private sector electricity distribution companies will be eligible for funding for battery and hydro pumped storage projects. Zero-emission CV manufacturing could gain momentum as Tata Motors and Iveco Group bring together their commercial vehicle portfolios and alternative powertrain capabilities under a combined enterprise. The companies formally marked their combination on November 3, creating the world's fourth-largest commercial vehicle manufacturer, with annual sales of approximately 590,000 units and combined revenues of around 21 billion euros. Their technology portfolio spans conventional engines, natural gas, battery-electric and hydrogen-based solutions.While the combination does not include a newly announced electric or hydrogen vehicle manufacturing investment, its expanded engineering capabilities and international presence create opportunities to advance cleaner commercial vehicle technologies across markets. The combined enterprise brings together Tata Motors' commercial vehicle operations in India and Iveco Group's truck, bus and powertrain businesses across Europe and other markets. Its capabilities span combustion engines, natural gas, battery-electric vehicles, hydrogen and other low- and zero-emission technologies. Unilever will invest 35 million to build an innovation ecosystem across its research and development (R&D) hubs in Mumbai and Bengaluru. The global fast-moving consumer goods (FMCG) company also plans to launch a strategic Bio-Futures partnership in India. The investment aims to strengthen scientific research, product development and technology-led innovation.The new investment comes on top of more than 20 million that Unilever has invested over the past five years. The earlier investments supported facilities and capabilities such as its Liquids Lab of the Future, Unilever Fragrance House, Advanced Manufacturing Center for Bars, Packaging and Flexibles Design Lab, and artificial intelligence (AI) and digital modeling platforms. Both Indian R&D hubs are part of Unilever's global R&D network. They support activities ranging from consumer research and product adaptation to testing, validation, scale-up and market deployment. RS 14,500 CRORE ENERGY STORAGE SCHEME: CABINET APPROVES 92 GWH TARGETTATA-IVECO: 590,000-UNIT ZERO-EMISSION CV MANUFACTURINGUNILEVER TO BUILD INNOVATION ECOSYSTEM IN INDIA WITH 35 MILLION PUSHMercedes-Benz is looking to strengthen India's role in its global manufacturing and supply chain operations. The German luxury carmaker plans to expand local sourcing and deepen its manufacturing presence in the country. It also sees opportunities to use Indian suppliers and technology partners to support its international operations. Ola Kallenius, Chairman of the Board of Management of Mercedes-Benz Group, told that the company is on track to record its highest-ever annual sales in India, provided the current growth continues.Mercedes-Benz sold 15,190 vehicles in India between January and September 2026, marking an 8 percent year-over-year increase. The company also recorded its best-ever September quarter, with sales rising 6 percent to 5,422 vehicles. The carmaker has announced an additional investment of Rs 200 crore in India this year. This will take its cumulative investment in the country to Rs 3,200 crore, Kallenius said. While he did not share a detailed financial roadmap, he indicated that India's growing economy and rising wealth creation could support a larger manufacturing commitment in the future. MERCEDES-BENZ EYES INDIA AS A GLOBAL MANUFACTURING AND SOURCING HUB
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