India, Sweden launch seven steel and cement decarbonisation projects
Mumbai: India and Sweden announced seven joint projects to reduce carbon emissions in the steel and cement sectors, with funding from India’s Department of Science and Technology and the Swedish Energy Agency.

JSW Steel reports 5% YoY crude steel production growth in Nov, net output at 23.6 lakh tonnes
JSW Steel reported a 5 per cent YoY crude steel production growth in November. The steel major reported a net production of 24.39 lakh tonnes of crude steel in the month. Last year, the company’s net crude steel production was 23.23 lakh tonnes in November. 

Lack of QCO delaying capex in stainless steel industry: Jindal Stainless MD
 

Diamond imports under DIA scheme exempted from tax, comp cess: Govt
New Delhi: The government on Tuesday said imports under the Diamond Imprest Authorisation (DIA) scheme are exempted from payment of the integrated tax and compensation cess.

Long-delayed Ghatampur thermal power project’s second unit commissioned
The second of the three units of the Ghatampur Thermal Power plant in Uttar Pradesh was commissioned today, adding 660 MW to the grid. The 660x3 power station is owned by Neyveli Uttar Pradesh Power Limited (NUPPL), a joint venture between NLC India Limited (51 per cent) and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) (49 per cent).  

Solarworld Energy bags Rs 806 crore order for battery storage project from Gujrat Urja
Solarworld Energy Solutions has secured an order worth Rs 806 crore for the development of battery energy storage systems, the company said in a regulatory filing on December 9.

Solar transition: Reforms needed to improve long-term performance
Mumbai: India is making progress on clean energy. More than 50 per cent of the country’s installed electricity capacity is now based on non-fossil sources — a milestone achieved five years ahead of target. Solar power has been the dominant driver of this shift, aided by an expansion in domestic module manufacturing, owing to strong policy support. Yet, as a new parliamentary standing committee report on energy makes clear, merely scaling up solar capacity is not enough. If efficiency and system readiness fall behind, it could jeopardise the country’s renewable-energy goals in the long term. The most striking gap lies in performance monitoring. Despite an installed solar capacity of 129 gigawatts (Gw), India still lacks a national framework to rate photovoltaic plant performance. There is no standardised method to measure the degradation of modules, assess the quality of operations and maintenance, or compute irradiance-adjusted output. In the absence of such benchmarks, tariff bids are divorced from long-term performance risk. Underperforming assets remain invisible, and developers face little pressure to optimise quality. For a sector increasingly reliant on competitive bidding and thin margins, this information vacuum can only lead to inefficiencies and financial stress.

Gujarat, Maharashtra, UP account for almost 60% of capacity under PM Surya Ghar
Under the PM Surya Ghar: Muft Bijli Yojana (PMSG: MBY) the residential rooftop solar power capacity surpassed 7 gigawatts (GW) covering close to 24 lakh households so far with Gujarat, Maharashtra and Uttar Pradesh accounting for almost 60 per cent capacity. The Minister of State for New & Renewable Energy Shripad Naik in a written reply in Rajya Sabha on Tuesday said that a total of 7,075.78 megawatt (MW) of rooftop solar (RTS) capacity has been installed in the country under the scheme in the residential sector as of December 2, 2025.

Markets end lower on fresh tariff concerns: Nifty closes below 25,900, Sensex down 400 points – Key highlights
The Indian stock market ended the day on a cautious note, with domestic indices closing in the red. The Sensex settled at 84,666.28, down by 0.51%, while the Nifty finished at 25,839.65, slipping 0.47%. The Nifty Bank index also mirrored the broader market trend, ending at 59,214, down by 0.04%.

Rupee sees modest recovery, ends at 89.87 per dollar – All eyes on Fed’s rate decision
The Indian rupee today broke its continuous falling streak and closed at 89.87, up 0.2% on the day against the US dollar. The local currency had opened on a low note at 90.12. As per a Reuters report, the currency rose to as high as 89.84 during trading sessions, but importers stepped in to cap further gains.

RBI’s $5 billion dollar/rupee swap aims to stabilise the rupee without depleting forex reserves
The RBI’s plan to conduct a $5 billion dollar/rupee Buy/Sell swap auction for a three year tenor on December 16th is aimed at increasing its firepower to intervene in the spot market without depleting the forex reserves, according to market experts. They believe the central bank may have hit upon the aforementioned strategy to stabilise the rupee, which vaulted over the psychologically crucial 90 to the dollar mark last week.