Bloomberg Prime Minister Narendra Modi’s government is planning a 210 billion-rupee ($3.1 billion) package of state aid for India’s solar panel manufacturing industry, according to two officials. The so-called Prayas initiative, short for for “ Pradhan Mantri Yojana for Augmenting Solar Manufacturing,” a central-government plan designed to lift India’s installed photovoltaic capacity as well as to create an export ...

  Montreal / AFP Mitsubishi Heavy Industries Ltd. is considering options for its shipbuilding business to reduce costs as persistently weak demand for vessels prompts companies in the industry to take measures to reorganize their operations and form partnerships. The company is considering a capital tieup with three Japanese shipbuilders — Namura Shipbuilding Co. as well as closely held Imabari ...

  Bloomberg India’s oil product demand contracted for the first time in almost two years amid strong monsoon rains and unrest in some provinces. Fuel use during September in the world’s fastest growing consumer fell to 14.6 million tons last month, down 2 percent from a year earlier, according to the oil ministry’s Petroleum Planning & Analysis Cell. That’s the ...