Market News
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Reliance to turn crude into carbon fibre, green chemicals, other materials in major O2C overhaul
Reliance Industries is set to reinvent its oil-to-chemicals business. The company will convert crude oil into advanced materials and green chemicals. This strategy aims to create new revenue streams and reduce exposure to global energy market volatility. Reliance is committed to ensuring India's energy security by future-proofing its legacy business and building new growth engines.
India readies Rs 12,000 crore push for local battery component manufacturing
India is set to launch a new incentive scheme to boost local manufacturing of advanced cell battery components. This initiative aims to reduce import dependence for crucial materials like cathode and anode active materials, electrolysers, and copper foil separators. The scheme, with an estimated ₹12,000 crore allocation, will encourage domestic production and supply chain development.
India, EU pitch for joint initiative to strengthen EV battery recycling
India and the European Union have launched a new initiative to recycle electric vehicle batteries. This joint effort aims to secure raw materials and promote a circular economy. A funding pool of 15.2 million euro will support advanced recycling technologies and pilot projects in India. The program will bring together researchers, industries, and startups to develop innovative solutions.
Japanese company Proterial plans to make magnets & more in India
Proterial, a Japanese supplier of advanced materials, is exploring India as a site to manufacture rare‑earth magnets and cutting‑edge EV magnets. With government incentives underpinning investment, the move could strengthen local production and supply‑chain resilience. India is part of Proterial’s broader market assessment as it maps out a major manufacturing expansion.