Budget 2021 includes several initiatives to promote science, technology, and innovation with applications in the country. It is a forward-looking budget to substantially boost support for R&D in the key identified areas of national priorities. These are also in line with the projections in the draft Science Technology and Innovation Policy 2021 put up for public consultations. This includes a total allocation of Rs 50,000 crore (€5.9 billion) over 5 years for the National Research Foundation, an autonomous body envisaged to support researchers working across several streams of S&T with special focus on universities.

• Approved Models and Manufacturers of Solar Photovoltaic Modules (Requirement for Compulsory Registration) Order, 2019 - Implementation - Reg. Read more/Download

• Imposition of 25% Basic Customs Duty (BCD) on Solar PV Cells & 40% on Solar Modules/ Panels. Download

• Draft policy framework for developing and promoting decentralised renewable energy livelihood applications. Read more/Download

• Guidelines for International Solar Alliance (ISA) undergraduate Fellowship Program. Read more/Download

Guidelines for enlistment under "Approved Models and Manufacturer of Solar Photovoltaic Modules Order, 2019" – Amendment.

The engineering R&D (ER&D) sector is one of the fastest growing industries in India. This E R&D policy has become first of a kind in the country. The aim of the policy is to contribute approximately 45% to India’s engineering R&D needs during the policy tenure. “Karnataka is currently the leading contributor to the Indian Engineering R&D industry revenue. The State is home to over 400 leading R&D Centers/ GCCs. This policy aims to retain this position, generation of intellectual properties (IPs), and to make this as skilled knowledge capital,”. It is to be noted here that the expenditure of global E R&D is forecast to clock $2 trillion by 2025, and the same industry is growing at an CAGR of around 12.5% in India.

India has implemented several measures to facilitate trade, such as simplification of procedures and customs clearances for imports and exports, according to WTO. Geneva-based World Trade Organisation said that the other trade-facilitation initiatives introduced by India since 2015 include introduction of Indian Customs Electronic Gateway (ICEGATE); Single Window Interface for Facilitation of Trade (SWIFT); the Direct Port Delivery and the Direct Port Entry facilities; and the increased use of the Risk Management System (RMS). These points were part of the report of India’s seventh Trade Policy Review (TPR), which began on January 6 at the World Trade Organization.

The Union Commerce and Industry Ministry announced extension of the Foreign Trade Policy (FTP) of Government of India. The present Policy which came into force on 1st April 2015, was for 5 years and was extended thereafter upto 31st March, 2021. In view of the unprecedented situation arising out of the pandemic Novel COVID-19, which is persisting, the Government has decided to continue benefits under various export promotion schemes by extending existing Foreign Trade Policy by another six months i.e. up to 30th September, 2021 which will provide continuity in the policy regime. Similar extension is made in the related procedures, by extending validity of HandBook of Procedures. 

The Ministry of Road Transport and Highways will, from now on, also look after the development of Ropeways and Alternate Mobility Solutions. The move is expected to give a boost to the sector, by setting up a regulatory regime, and facilitating research and new technology to come into this sector. An amendment to the Government of India  Rules, 1961 has been notified, to enable this step. This means that the Ministry will have responsibility for development of ropeway and alternative mobility solutions technology, as well as construction, research, and policy in this area. Formulation of institutional, financial, and regulatory framework for the technology will also fall under the ambit of this move.

India’s transition to EVs has advanced rapidly in the past few years. A supportive policy environment, improving economics, and emerging business models have poised the EV market for significant growth in the coming decade.  Key barriers related to EV adoption—including technology cost, infrastructure availability, and consumer behavior—must be overcome.

NITI Aayog and Rocky Mountain Institute has come out with a report titled “Mobilising Finance for EVs in India”: A Toolkit of Solutions to Mitigate Risks and Address Market Barriers” which identified solutions to direct capital and financing to aid in India’s EV transition.