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India is planning a significant expansion of its nuclear energy sector. Experts emphasize the need for new financial strategies and robust risk-sharing frameworks. The SHANTI Act of 2025 is enabling private sector involvement. Accelerating site studies and ensuring long-term fuel supply are crucial steps. These efforts aim to boost clean energy generation and achieve ambitious capacity targets by 2047. View More
New Delhi: Financial preparedness, development of robust risk-sharing mechanisms , and innovative measures are needed for financing nuclear ambitions of India, Seema Jain, Member (Finance), Department of Atomic Energy said on Friday. Speaking at the workshop on the SHANTI Act by the Central Electricity Authority (CEA) and NTPC Ltd , Jain said the evolution of financing institutional frameworks is needed to support large-scale nuclear deployment. “Financing we will require all sorts of innovative measures to happen so that kind of money and financial space is made for the sector,” she said. She underscored the importance of fostering global technological partnerships and developing innovative and financing mechanisms to accelerate the growth of the nuclear sector. Live Events Also Read | India to invite bids for 220 MWe Small Modular Reactor, boosting nuclear push under green energy transition India’s nuclear energy plans also need a secure and uninterrupted supply of nuclear fuel through diversification of sources and the establishment of long-term procurement arrangements, Ghanshyam Prasad, Chairperson, CEA said. India brough the SHANTI Act in December 2025 allowing private sector to participate in nuclear energy generation and limiting liability of suppliers while aiming for 100 GW of installed capacity by 2047. Gurdeep Singh, Chairman and MD, NTPC said that the Act has opened the sector for private participation, allowing industries to consider nuclear energy as a viable clean power source . Also Read | India targets over ten-fold expansion in nuclear power capacity from 8.8 GW to 100 GW by 2047: CEA Chairperson However, there is a need to accelerate preparatory activities such as land identification and site studies to enable timely construction of new nuclear plants, he added. Singh underlined the need for partnerships in technology and the supply chain. Early formulation of rules and guidelines would facilitate faster progress, and ensuring long-term fuel availability, maintaining safety, and achieving broader energy security objectives are key requirements of the sector, he said. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Indian stocks gained strength on April 17, with key indices rising over 0.50%, supported by consumer goods and oil & gas sectors. The Nifty 50 and S&P BSE Sensex closed higher, while broader markets showed even stronger gains amid easing tensions in the Middle East. View More
Prasad stated, “A report outlines how to achieve 100 gigawatts of nuclear energy by 2047, increasing from the current 8.8 gigawatts—over tenfold growth at a necessary rapid pace” View More
India plans a significant expansion of its nuclear power capacity, targeting 100 gigawatts by 2047. This ambitious goal represents a more than tenfold increase from the current 8.8 gigawatts. The Central Electricity Authority is working on legislative changes and streamlining processes to achieve this. View More
New Delhi: India has set a target to scale up its nuclear power capacity from the current 8.8 gigawatt (GW) to 100 GW by 2047, implying an over ten-fold increase, Central Electricity Authority (CEA) Chairperson Ghanshyam Prasad said on Friday. "A report was made on how do we really achieve 100 gigawatts of nuclear energy by 2047. Today, there is a capacity of 8.8 gigawatt. We have to increase it to 100 gigawatt. That means more than 10 times we are going to increase. It's going to be a good pace at which it has to be developed," Prasad said. Prasad stated this on the sidelines of the Inaugural Session to Focus on India's 100 GW Nuclear Power Roadmap held on the national capital. He said that when the roadmap was prepared, several requirements were identified, including legislative changes, and added that further work is underway to operationalise the framework. He said that when this roadmap was made, several things were envisioned with achieving 100 GW of energy at the core. The Shanti Act was one of them, and this has already been done. Live Events "But after the Act, more things have to be done. The rules have to be made, the procedures have to be made, the guidelines have to be made. All these things are being made now," he said. Prasad said the ongoing deliberations are focused on incorporating stakeholder feedback and accelerating implementation. "Today's deliberation is based on that. How quickly we can forward the money. We have to take the views of the stakeholders. We have to take the suggestions. After the suggestions, all these things will be formed," he said. He added that efforts are also being made to simplify and standardise processes to reduce costs and improve execution. "There are some procedures that we have to shorten. We have to standardize it so that the tariff is less. We have to talk about fuel security. We have to talk about site selection. We have to talk about human resources," he said. Highlighting the expected expansion in participation, the CEA Chairperson said the sector is likely to see multiple players going forward. "Right now, only one company is doing it. Tomorrow, 10-12 companies will start doing it. The pace of development is going to be very fast," he said, adding that relevant entities and other players may join as the programme progresses. On grid resilience, Prasad highlighted the reliability of nuclear power. "Nuclear is a very stable power. When it starts working, it keeps working for years without stopping. The plants keep tripping. Normally, there shouldn't be any problem. It's one of the safest, I'll say. And very, very stable. Very, very stable power," he said. He also pointed to emerging technologies as a key challenge, particularly Small Modular Reactors (SMRs). "If we look at the challenges now, the whole world is talking about small modular reactors, whose technology is still being developed. So, definitely new technology is a challenge as of now," he said, adding that such technologies could support cleaner energy solutions. On future capacity addition, he clarified that the planned expansion will primarily come from new plants. "We are talking about new nuclear plants only... All the existing ones will be there, the rest will be new," he said. Prasad further said that states are being encouraged to identify land for upcoming projects. "We are pursuing the states to identify the site, so that we can't go there until they identify the land," he said, adding that tariff decisions will be based on demand. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Jim Cramer gave his latest thinking on all 31 stocks owned by the CNBC Investing Club, including Nvidia, Apple, and Microsoft. View More
The CNBC Investing Club held its April Monthly Meeting on Thursday, with Jim Cramer and Jeff Marks, director of portfolio analysis, hashing it out on each stock in the portfolio. The confab came a day after the S & P 500 closed at its first record high since late January, punctuating its dramatic comeback from the Iran war sell-off. The broad index's war-driven bottom actually fell one trading after our March Monthly Meeting . We convened on March 27, a Friday, and the following Monday brought one more day of selling. It's been off to the races ever since. Throughout the war, Jim has urged investors to stay calm and stay invested. The speed and magnitude of this rebound reinforces the pitfalls of throwing in the towel. Honestly, who would've seen this rally coming on the day of our March call? The war isn't officially over, of course. But the market is doing its best to refocus on what companies are doing and saying as first-quarter earnings season ramps up. That's the backdrop for Thursday's meeting. Who knows what May will have in store? Now, let's get into what Jim and Jeff had to say, going in the order they discussed them. The big mistake Nike : We have a huge case of buyer's remorse, but we don't want to compound it with seller's remorse. Turning around the sportswear giant is a much taller task for CEO Elliott Hill than we anticipated. It was wrong to buy more shares in December in response to a wave of insider buying. We're encouraged by another round this week, though we're not buying alongside Hill and Apple CEO Tim Cook, who's a director on the company's board. We're giving Hill one more at bat. If next quarter is another swing-and-miss, we'll bail on the sneaker and apparel maker. The tech heavyweights Apple : Smartphone momentum in China appears to be continuing, and the forthcoming launch of a Google Gemini-infused Siri is a powerful combo. It's a real competitive advantage. Plus, the foldable iPhone is coming out. No reason to trade this stock. Just own it. Amazon : The stock's comeback rally is a lesson on patience. The emperor had clothes all along. It just took the market time to realize the strength of the cloud unit, AWS, and its online retail business. We aren't sleeping on its satellite ambitions either. Broadcom : We trimmed our position in the red-hot chipmaker twice this week. Not because we've soured on CEO Hock Tan or its AI business spanning custom chips and networking solutions. The stock had simply gone on a parabolic run since the March lows, and we wanted room to buy some shares back in the case of a pullback. Alphabet : We had seller's remorse, but we bit the bullet and got back in the stock late last year. We're glad we did. From Google Cloud to YouTube to search to the promising Waymo robotaxi services, these businesses are booming. Alphabet probably has more ways to win than any of the big guns in this market. Meta Platforms : Owning the Instagram parent here is partially a bet that CEO Mark Zuckerberg's massive spending spree on AI talent will bear tremendous fruit. And we don't like to bet against Zuckerberg when it comes to making money. Its Ray-Ban AI glasses are just gravy. Nvidia : Our patience with the leading AI chip stock is paying off. The world is short compute, and while there's a lot of talk about competition from hyperscalers' in-house chips, our view is that Nvidia is still best in class. It deserves to be the largest company in the universe (which it is). Microsoft : The software and cloud giant is showing renewed urgency after a period of underperformance. It trailed rivals like OpenAI and Anthropic in launching exciting and effective AI tools. We want to see the company increase compute spending and allocate more of its available capacity to Azure rather than internal research and Copilot, its AI assistant. The data center plays GE Vernova : Before the AI boom, the gas turbine business was a miserable place to be. Now it's magical. Electricity demand is off the charts, turbines are in short supply, and competition is scarce. That means plenty of pricing power. Not to be overlooked: If you want to play the nuclear power trend, GE Vernova has a real business, not a science project. Corning : JPMorgan downgraded the maker of glass fiber optic cables Thursday, essentially saying it's run too far, too fast. No doubt, it's been a major winner. Our desire to keep riding it stems from the idea that glass fiber is poised to replace more and more copper wire inside data centers. Eaton : Its electrical equipment is in high demand for data centers, and we love that it went a step further by buying the liquid-cooling company Boyd Thermal. It's an adjacent business that expands Eaton's total addressable market within the AI buildout. AI servers throw off a lot of heat, and Boyd helps keep them cool. Qnity Electronics : This is another situation where we're tempted to take the gain. But it's just now being noticed by more and more investors, having been spun off from the DuPont conglomerate last fall. You can't make and package semiconductors without the kinds of advanced materials that Qnity supplies to companies like Taiwan Semiconductor Manufacturing Co. and Korea's SK Hynix. The industrials Boeing : The planemaker's order book is brimming and ready to reclaim market share from its only real competitor, Airbus. Boeing was an unbelievably good company and stock before management got sloppy. With CEO Kelly Ortberg at the helm, that's no longer a concern. Dover : We hear from Dover next week (and Boeing, for that matter). We admit to growing impatient with this one, even if its last earnings results were good. We want to see CEO Richard Tobin take a few more concrete steps to ignite the stock, like selling slower-growing areas and using some of its dry powder for exciting acquisitions. It could be one of our names on the chopping block to be replaced by a promising Bullpen stock. Honeywell : Its long-awaited aerospace spin-off is only a few months away, so we have to stick with the stock. The whole company is worth a tad less than $150 billion right now. Once it's a separate company, the aerospace business, which makes electronic systems for planes and smaller engines that power them on the ground, could be worth more than that on its own. Linde : Shares have stalled out, but we believe disruptions to helium supply from the Middle East are a tailwind for Linde, which produces gases outside the Persian Gulf. If we finally start to see better economic growth, Linde should see volume increases to complement price increases, a winning combination to beat estimates and raise its guidance. DuPont : We don't think a reverse stock split is ideal from an optics perspective, but we trust management's broader strategy. Shareholders will vote on the idea at DuPont's annual meeting in May. If investors want to dump DuPont, it should be because of concerns about the fundamentals. Right now, they look good for the Qnity-less DuPont, which is now more exposed to global megatrends like water and health care. The rest of 'em Costco and TJX Companies : These two are among the only retailers worth owning. They benefit from inflationary environments, as consumers increasingly seek better value. With consistent store expansion and better merchandise, these are secular growth stories that continue to deliver. No need to sell these stocks here. If anything, TJX could be bought here. Home Depot : Our thesis hasn't worked, but we haven't lost all hope. Our worldview is that rates will come down eventually and unlock the housing market, which should turbocharge this languishing stock. But admittedly, if Home Depot is one of only, say, five stocks you own, there will likely be better earnings growth somewhere else for at least the next quarter or two. Eli Lilly : The pharmaceutical giant's stock may appear stuck, but the long-term story remains firmly intact. Lilly's leadership in GLP-1 treatments remains a major advantage, and its new GLP-1 pill is a game-changer. As for its competition with Novo Nordisk, it has become a volume play, and Lilly is the clear winner in manufacturing capacity. Cardinal Health : Despite a less-than-ideal entry point, the Cardinal Health story remains strong. The company's scale in drug distribution, combined with its growing specialty pharmacy business, creates a durable platform for long-term growth. While the stock has yet to reflect that potential, it is our favorite stock to buy right now in the entire portfolio. Johnson & Johnson : Strong results this week justified our recent decision to replace Bristol Myers Squibb with this drug stock. It has a great cancer treatment franchise and opportunities across autoimmune diseases and neuroscience. If not for our trading restrictions, we'd likely be looking to add to our position on Thursday. Goldman Sachs : The bank delivered an excellent quarter on Monday, except for its fixed-income trading desk. We doubt they will make the same mistake twice. The M & A environment is still ripe. Wells Fargo : Unfortunately, we had to send this one to the penalty box after two rough quarters in a row. Have we overstayed our welcome? We still predict that the removal of the Federal Reserve's asset cap last year will lead to greater profits. Execution needs to improve. Capital One : When the credit card issuer reports next week, we want updates on its Discover and Brex acquisitions and assurances that they're hitting the brakes on M & A. It's time to start getting the most out of these deals, not doing more of them. Procter & Gamble : The maker of Tide detergent and Crest toothpaste serves as a key hedge against a potential economic slowdown, even if execution hasn't been ideal under previous leadership. With a new CEO in place, it's a name we wish we owned more of. CrowdStrike and Palo Alto Networks : Investors are afraid these cybersecurity companies will be hurt by AI-built alternatives. However, more advanced AI models should be a major tailwind for these companies. At the same time, we want to free up a slot in the portfolio to own other companies. So, our plan is to eventually sell out of Palo Alto and redeploy at least some of those funds into CrowdStrike. Salesforce : The enterprise software stock still has a path to turn things around, even as skepticism builds around its ability to compete in an AI-disrupted landscape. This upcoming quarter will be make-or-break. We'll be watching closely for CEO Marc Benioff's commentary in May to gauge whether momentum is coming back or is further at risk. Starbucks : We like what CEO Brian Niccol is doing. He closed underperforming stores in the U.S. and entered into a joint venture in China, sharpening the company's focus on the U.S. turnaround. Traffic and comps are improving despite competition, though margins will take time to recover. A pullback to the low $90s would be an attractive level to buy more. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Kim said South Korea will focus on wind and solar power to achieve its goal of reaching 100 gigawatts renewable energy capacity View More
This general view shows oil tanks and facilities at Yeosu National Industrial Complex, the largest petrochemical industrial complex in South Korea, in Yeosu on April 7, 2026. (Photo by Shin Yong-ju / AFP via Getty Images)Shin Yong-ju | Afp | Getty Images The Iran war is "serving as a significant turning point" for South Korea to shift to renewable energy and away from oil, the country's energy minister said. In an interview with CNBC's Lisa Kim, South Korea's Minister of Climate, Energy and Environment Kim Sung-hwan said there is a "growing national consensus that we must undergo a fundamental energy transition."Seoul has committed to achieving 100 gigawatts of renewable energy capacity by 2030. Currently, South Korea's total renewable energy capacity stands at 37 gigawatts, according to the Renewable Energy Institute. watch nowVIDEO2:0702:07Seoul accelerates electrification drive with 100GW renewables goal by 2030Squawk Box Asia Kim said that the country will focus on wind and solar power to achieve its goal of increased capacity. South Korea derived only about 9% of its power needs from renewables in 2025, mostly from solar, according to IEA data."Since wind power takes considerable time from preparation to actual generation, we will try our best while focusing on solar power as the most effective solution in the short term," Kim said. When asked if the country experiences enough sunlight to generate the required solar power, Kim expressed confidence. Seoul receives an average of 2,148 hours of sunshine annually, and Kim said provinces such as South Jeolla and Jeju Island receive 100 hours more than the capital. He contrasted that with Germany, saying South Korea was "in a much better position" than Europe. Solar panels at a parking lot in the Jeju Techno Park in Jeju, South Korea, on Monday, Jan. 17, 2022. Bloomberg | Bloomberg | Getty Images Kim acknowledged that South Korea's solar-related industries have shrunk considerably due to China dominating the market for solar components, but said his country possesses "substantial technological prowess in this field," and Seoul will ensure that subsidies are directed toward fostering and protecting the domestic solar industry."By structuring solar power profits to benefit our own citizens, we can turn this challenge into a blessing in disguise," he said. watch nowVIDEO2:2802:28Renewables and nuclear will be central to Korea's energy mix, says ministerSquawk Box Asia A report from South Korean news outlet Chosun Ilbo said the market share of Chinese solar cells in South Korea surpassed 95% in 2024, up from 38% in 2019. South Korea's domestic share, in contrast, fell from 50% in 2019 to just 4% in 2024. According to data from the China Photovoltaic Industry Association, China produced 93.2â¯% of the world's polysilicon, 96.6% of wafers, 92.3% of photovoltaic (PV) cells, and 86.4% of PV modules in 2024. Near-term concerns However, South Korea still needs to deal with the near-term energy fallout from the Iran war. Kim said Seoul would delay by around six months the closure of two coal-fired power plants that had been expected to shutter in June, and restart one of its nuclear power plants in an effort to reduce the demand for natural gas. Increased gas prices feed into higher electricity production costs.The country has committed 22 million barrels of oil to the International Energy Agency's release effort, although the minister said there are currently no plans to release these reserves immediately as the situation has not had a "direct or significant impact on supply and demand."South Korea, Asia's fourth-largest economy, imports 94% of its energy, according to a 2024 report from the Korea Energy Statistics Information Systems, and almost 72% of its crude oil comes from the Middle East. Motorists line up to fill up at a petrol station in Seoul on March 9, 2026. The price of the main US benchmark for oil surged more than 30 percent on March 9, 2026 over concerns that the Middle East war could create prolonged supply disruptions. (Photo by Jung Yeon-je / AFP via Getty Images)Jung Yeon-je | Afp | Getty Images In late March, Seoul approved a supplementary budget worth 26.2 trillion won ($17.6 billion) to ease the burden of rising energy prices on households and industries, as well as imposing a price cap on fuel products. To reduce energy demand, the capital has also reportedly implemented a rotating parking system for public car parks, and public sector workers' vehicles will be banned from parking every other day based on license plate numbers.Kim told CNBC the impact hasn't quite reached the point where electricity rates need to be raised, saying an electricity price hike materializes about three to six months after oil and gas prices rise. "That said, the situation is difficult to predict. We will closely monitor the situation in June and July and carefully devise various mechanisms to prevent electricity price hikes," he added. 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He said there was a need to understand the range of uncertainty arising out of the conflict, particularly in South Asia and in general in the Asia-Pacific region View More
The initiative spans over 22,000 acres and 3,500 farmers, promoting better yields, environmental benefits, and stronger global market access through digital tools and farmer support systems View More
Global infrastructure investors and domestic smart meter makers are showing strong interest in acquiring IntelliSmart Infrastructure. The company, owned by NIIF and EESL, is expected to be valued at $400 million. This sale aligns with India's ambitious smart meter rollout under the Revamped Distribution Sector Scheme. View More
Mumbai: The sale process for IntelliSmart Infrastructure, which operates smart electricity metering systems of utilities, has drawn strong interest from global infrastructure investors and domestic smart meter manufacturers, people familiar with the matter said. The company, owned by India's sovereign wealth fund National Investment and Infrastructure Fund ( NIIF ) and financially stressed Energy Efficiency Services Ltd ( EESL ), has received around 10 bids and four-five bidders are expected to be shortlisted for due diligence within a week, the people said. The transaction is expected to value IntelliSmart at an equity valuation of $400 million (around ₹3,700 crore), they added. Also read | Adani Energy commissions 1,000 MW power link in Mumbai Global investors such as Partners Group, Macquarie, KKR and Actis have submitted non-binding bids. Domestic strategic players including GMR Smart Electricity Distribution, Greater Pacific Capital-backed Enzen Global Solutions, Adani Energy Solutions , I Squared Capital-owned Polaris Smart Metering, GIC-backed Genus Power and Apraava Energy have also participated in the process. Live Events Deloitte is running the sale process. Macquarie and Partners Group spokespersons declined to comment, while queries sent to NIIF, KKR, Adani Group, Actis, Apraava Energy, Polaris and Genus did not elicit any response till press time Tuesday. IntelliSmart, set up in 2019, has secured orders for around 22 million smart meters from various state utilities. Of these, it has installed around 600,000 meters in Assam and about half a million in Uttar Pradesh. NIIF owns a 51% stake in IntelliSmart, while EESL holds the rest. EESL, backed by public sector undertakings NTPC , Power Finance Corporation , Rural Electrification Corporation and Power Grid Corporation of India , had total outstanding long-term borrowings of ₹6,045 crore as of March 31, 2025, compared with ₹7,070 crore a year earlier, reflecting a gradual reduction but still elevated leverage levels. Its debt burden is understood to have prompted the proposed divestment of IntelliSmart. Also read | 'West Asia war a good opportunity for energy reforms, lower costs for industry' The sale process comes amid the government's ambitious rollout of the Revamped Distribution Sector Scheme (RDSS), which aims to install 250 million prepaid smart meters by 2027 to reduce aggregate technical and commercial losses. The programme is backed by an estimated investment of ₹1.35 lakh crore, with implementation expected to extend through 2035. Under the scheme, smart metering works have been sanctioned for 45 distribution utilities in 28 states/ union territories. Till January 15, 40.5 million smart meters have been installed under the RDSS. With the RDSS rollout gathering pace, global investors have intensified their focus on Indian smart meter manufacturing, strengthening their footprint via acquisitions. Greater Pacific Capital invested $100 million in Enzen Global Solutions, a knowledge practitioner in the energy and utilities sector. Enzen has a subsidiary named ZenMeter Solutions, which manufactures advanced smart meters. UK-based Actis had formed a JV last year with EDF India to operate a dedicated platform for concessions as an advanced metering infrastructure service provider. Jaipur's Genus Power & Infrastructures is owned by Singapore's GIC , which acquired a 74% stake in 2023 for $2 billion. I Squared Capital owns a controlling interest in Polaris Smart Metering. As of 2024, the Central Electricity Authority has identified about 45 firms as manufacturers or providers of smart electricity meters in India. Major power producers also operate smart meter subsidiaries to tap the multi-billion market. GMR Smart Electricity Distribution is executing a project to replace 7.6 million conventional meters with smart meters for distribution companies in Uttar Pradesh. A subsidiary of Apraava Energy, Apraava Smart Meter, has secured a contract with Assam Power Distribution Company for installing 690,000 prepaid smart meters. Apraava Kutch Saurashtra Smart Meter, another subsidiary of Apraava Energy, is setting up smart meters in Gujarat. Smart Meter penetration in India at 5-6% lagged behind developed nations like Japan (100%) and the US (73%), as well as the global average of 43%, highlighting an urgent need to bridge this gap and enhance energy efficiency, Care Edge said in a report last year. According to it, the plan to install 250 million smart meters over five years presented a $20-25 billion opportunity in the energy sector. The power ministry, meanwhile, has extended the target completion date for installing 250 million smart meters by two years to March 2028. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)