Daily News - Friday, 29 May 2026

India Adds 2.7 GigaWatt Rooftop Solar in Q1 2026 (Business World)

India added 2.7 GW of rooftop solar capacity in Q1 2026, marking a 25% quarter-on-quarter increase and a 125% year-on-year surge, according to Mercom India Research. The residential segment drove 82% of installations, supported by the PM Surya Ghar Yojana, subsidies, simplified approvals, and stronger state level implementation. Industrial, commercial and government segments contributed 11%, 7%, and 0.4%, respectively, while the capex model accounted for 81% of additions versus 19% under OPEX/RESCO. Leading states were Maharashtra (17%), Uttar Pradesh (16%), and Gujarat (15%), together driving nearly half of new capacity, with India’s cumulative rooftop solar reaching 23.5 GW by March 2026. Tender activity fell sharply, with 482 MW issued (down 38% QoQ) and 269 MW auctioned (down 67% QoQ), though year‑on‑year issuance rose 32%. The Ministry of New and Renewable Energy (MNRE) noted that execution efficiency, financing access, DISCOM coordination, and grid readiness will be critical to sustaining growth.

India South Korea CEPA Talks in Delhi Target USD $21.3 Billion Trade Deficit (Financial Express)

India and South Korea concluded the 12th round of CEPA upgrade negotiations in New Delhi (May 25-27, 2026), co-chaired by Kapil Chaudhary, Joint Secretary, Department of Commerce, and Park Geun‑oh, Director General for Trade Agreement Policy, MOTIE. Both sides agreed to address India’s widening trade deficit exports rose from USD $3.7 billion (INR ₹307 billion) in 2010-11 to USD $5.8 billion (INR ₹482 billion) in 2024-25, while imports surged from USD $10.4 billion (INR ₹862 billion) to USD $21.3 billion (INR ₹1.77 trillion) within the existing CEPA framework rather than negotiating a new pact. Talks covered Trade in Goods (TiG), Trade in Services (TiS), Rules of Origin (RoO), investment, and SPS standards, with sub‑groups formed for digital trade, supply chain resilience, and strategic industrial cooperation. The review process, pending since 2016, was reaffirmed during President Lee Jae Myung’s April 2026 visit, with both governments committing to conclude by year-end 2026. India flagged non-tariff barriers and Korean industry reluctance to source foreign suppliers as key reasons for asymmetry. The Commerce Ministry emphasized that resolving the imbalance is critical to ensuring CEPA benefits are more evenly distributed across sectors.

India-Russia Economic Cooperation Expands to Energy, Trade and Critical Minerals (Economic Times)

India and Russia are deepening ties in energy, trade, industrial ventures, and critical minerals, with new cooperation frameworks unveiled at the “India-Russia: Expanding Frontiers of Special & Privileged Strategic Partnership” conference in New Delhi. The event featured senior officials including Dr. Evgeny Griva (Deputy Trade Commissioner of Russia in India), who highlighted collaboration in fossil fuels, LNG/LPG, and civil nuclear energy projects. Zlata Antusheva (Head of GR & Finance Sector, Russian Trade Representation in India) emphasized diversification of the trade basket, joint manufacturing initiatives, and stronger investment flows. Dr. Andrey Podchufarov (Head of Economic Department, Russian Trade Representation) underscored cooperation in critical minerals mining, processing and value addition, to build resilient supply chains for advanced manufacturing and clean energy. Andrey Sobolev, Trade Commissioner of Russia in India, concluded that these three pillars- energy, trade/industrial partnerships and critical minerals, are strategically vital for long-term bilateral growth. The Ministry of Commerce & Industry (India) and Russian trade bodies see these initiatives as moving beyond traditional commodity trade toward co-production, industrial localization, and technological partnerships.