Ecommerce News

TMS Ep50: Bills in Parliament, ecommerce, market, hydrogen fuel

The government is set to have a busy winter session at the Parliament with a number of important Bills coming up for discussion. While the cryptocurrency Bill has hogged the limelight after the session’s legislative agenda was released on Tuesday, some key Bills including the one on privatization of two public sector banks have gone under the radar. Apart from preparing the Bills and tabling them in the Parliament, there are some other key reforms which are keeping the government busy. Open Network for Digital Commerce or ONDC is one of them. Through this, the government plans to democratize ecommerce and end what it says monopolistic practices in India. Coming to the petroleum industry, the United States will release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain, to try to cool prices. This comes after OPEC+ producers repeatedly ignored calls for more crude. India, on its part, plans to release about five million barrels of crude oil. But will this be a sufficient quantity of oil to control prices? How are market analysts reading into the joint effort which comes ahead of OPEC+ meet? While global crude oil prices are likely to remain volatile in the near future, India is seeking to reduce its dependence on crude oil.

A step in the direction is building hydrogen-fuel capacities. State-owned Indian Oil Corporation floated a global tender recently to set up green hydrogen generation plants at two of its refineries. It came just days after PM Narendra Modi announced at the COP26 summit that the country will bring down its emissions to zero by 2070. Experts say that green hydrogen’s enhanced use will help India meet its clean energy goals. But they also point out the high cost of green hydrogen. So, what does India need to do here? Find the answer and more in this podcast

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