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The Indian auto industry is set to invest up to $7 billion by FY28 to deepen localization of advanced components, including electric motors and automatic transmissions, to reduce imports and capitalize on multinationals' 'China Plus One' sourcing strategy.
In a significant boost to the 'Make-in-India' initiative of the Centre, the Ministry of Defence (MoD) sealed five major defence acquisition contracts worth Rs 39,125 crore including procurement of BrahMos supersonic cruise missiles, radars, weapon systems and aero-engines for MiG-29 jets in the national capital
Tamil Nadu is India's top exporter of electronics.
• With USD 7.3 billion in electronics exports from April 2023 to January 2024, Tamil Nadu leads India in this regard.
• This amounts to one-third of the nation's overall exports in this industry.
• Industries Minister TRB Rajaa emphasizes the importance of the state in the national economy.
• The combined contribution of the states in South India to exports is around 50%.
India Approves Three Chip-Related Projects
• The Union Cabinet approved three chip-related projects worth around Rs 1.26 lakh crore ($15.2 billion), including India's first semiconductor fabrication plant.
• The Tata Group will set up a foundry in partnership with Taiwan-based Powerchip (PSMC) in Gujarat’s Dholera, estimated to cost Rs 91,000 crore ($10.9 billion).
• The plant will produce 300 crore chips annually, catering to industries like high-performance computing, electric vehicles, defence, and consumer electronics.
• The approval boosts India's semiconductor manufacturing plans and provides leverage in the chip war.
• The proposals will receive 50% of their capex costs from the Centre.
• Tata Group will also set up a chip assembly plant in Assam, primarily catering to the automobile market.
• CG Power has also proposed a chip testing facility in Gujarat’s Sanand, partnering with Japan’s Renesas Electronics.
Elon Musk's 'Xmail' Launch
• Elon Musk has confirmed the launch of 'Xmail', a product he developed after releasing his own version of ChatGPT.
• The announcement comes amid rumors of Google shutting down Gmail due to a fake image.
• Xmail is expected to be integrated into the X app, with no additional details provided.
• The service's launch date is unknown, but it could disrupt the email service sector.
• Social media strategist Rhea Freeman predicts X's version of Gmail "might happen".
• Musk's long-term goal for X is to be a "everything app".
• XMail could be created at xAI, a business Musk created a year ago specializing in artificial intelligence.
Indian Drone Manufacturer IdeaForge Debuts in US Markets
• IdeaForge, an Indian drone manufacturer, has made its US market debut.
• CEO Ankit Mehta explains that the Indian drone industry has accelerated post-COVID-19, with the company showcasing its products in the US market.
• Prior to the pandemic, drone regulations were strict, limiting flexibility in use and deployment.
• Post-pandemic, people have become more adaptive to drone technology, deploying them for various use cases.
• The Indian drone production markets are backed by a production-linked incentive scheme and a ban on foreign technology imports.
• Mehta emphasizes the uniqueness of Indian drones, built to operate in harsh environments and high altitude requirements.
India to Open Two Complete Semiconductor Fabrication Plants
• Minister of Electronics and IT, Rajeev Chandrasekhar confirms two complete semiconductor fabrication plants in India.
• Projects include an $8 billion proposal from Israel's Tower Semiconductors and another from the Tata Group.
• Fabrication plants will operate on 65, 40, and 28-nanometer technology.
• Chandrasekhar assures these projects will be greenlit during Prime Minister Narendra Modi's third term if not approved before the upcoming general elections.
• The government has received numerous proposals for semiconductor manufacturing and chip assembly, testing, monitoring, and packaging units.
Google to Start Pixel Smartphone Production in India
• Google plans to start production of its Pixel smartphones in India by the next quarter, aiming to expand its market presence and diversify its supply chain.
• Production lines for high-end Pixel 8 Pro smartphones will be initiated in the coming weeks, with manufacturing expected to begin in the April-June quarter.
• The goal is to produce over 10 million Pixel units this year.
• The move aims to reduce reliance on China and tap into the growing Indian smartphone market.
• Google's initial production volume for Pixel 8 phones in India is still undisclosed, and whether they will be sold in India or exported.
• Google announced its plans to manufacture Pixel smartphones in India in 2024, partnering with international and domestic manufacturers.
Mitsubishi's Re-Entry into Indian Car Market
• Mitsubishi plans to re-enter the Indian car market in 2024 after exiting the market in 2020 due to BS6 emission norms.
• It has subscribed to over 30% shares in TVS Vehicle Mobility Solution (TVS VMS), a major multi-brand dealer in India.
• The investment is expected to be worth tens of millions of US dollars.
• The investment aims to advance comprehensive mobility solutions for Japanese auto makers in India, including after-sales services, multi-brand sales, leasing, and other automotive ventures.
• The partnership aims to create the possibility of sub-brands of Japanese car manufacturers setting up in India, with Mitsubishi handling negotiations to increase the number of Japanese car brands and models.
Hindalco Industries Shares Rise 2.4% Post-Negotiations
• Hindalco Industries shares rose 2.4% after Novelis filed for an IPO with the SEC.
• The shares are expected to be offered by Novelis' sole shareholder, AV Minerals (Netherlands), a wholly-owned subsidiary of Hindalco.
• The market is uncertain about the IPO's benefits to Hindalco shareholders, as the filing is confidential.
• Novelis' shares are being sold by the promoter, not Hindalco.
• Hindalco shares have been under pressure due to the 65% increase in the Bay Minette project's capital cost to $4.1 billion.
• Hindalco's net debt stood at Rs 34,835 crores at the end of December 2023, while Novelis' net debt stood at Rs 38,467 crores.
• Nuvama expects Novelis' net debt to rise to $5 billion by the end of FY26.
• Market assumes Hindalco may use the proceeds from the sale to pare debt in Novelis.
India's Permanent Ambassador to the United Nations Supports Comprehensive Reform of UN Security Council
• Ruchira Kamboj, India's permanent ambassador to the UN, supports a comprehensive reform of the UN Security Council across all five clusters.
• She emphasized the need for a bold vision for a more equitable and inclusive world.
• Kamboj questioned whether expanding only in the non-permanent category would solve the problem, as it would widen the difference between permanent and non-permanent members.
• She stressed the concept of "equal opportunity" and the need to rectify historical injustices against the global south.
• She emphasized the inclusion of the African Union as a full member state of the G20 during India's presidency.
• Kamboj also emphasized the importance of amplifying diverse voices and fostering broader consensus and legitimacy in UNSC decisions.
• She raised the question of allowing five permanent members to override the collective voice of 188 member states.
UK Offers 3,000 Visas to Indian Citizens under India Young Professionals Scheme
• The UK is offering 3,000 visas to Indian citizens under the India Young Professionals Scheme via a ballot system.
• The ballot will be open from 2:30pm India Standard Time (IST) on 20 February 2024 to 2:30pm IST on 22 February 2024.
• The first ballot opens in less than 24 hours, offering a chance for Indian graduates to live, work, or study in the UK for up to 2 years.
• The UK Government website states that most places will be available in the February ballot, with remaining places in the July ballot.
• Eligible Indian citizens must meet financial, educational, and other visa application requirements.
• Successful entries will be picked at random and results will be sent to applicants by email within 2 weeks.
• Successful applicants will have 90 days to apply the visa online.
Name
Date of birth
Passport details
A scan or photo of your passport
Phone number
Email address
Indian and US Banks in Advanced Talks for Real-Time Payment Linkage
• The National Payments Corporation of India (NPCI) and US banks are in talks to establish a real-time payment link between the two countries.
• The initiative aims to expand on the progress made by the domestic payments body in establishing cross-country systems.
• NPCI is collaborating with Indian and foreign banks to create use-case models and conduct testing pilots within the unified payments interface (UPI) ecosystem.
• The current focus is on building connectivity to make the proposed collaboration commercially viable.
• The model will initially focus on small consumer payments due to its real-time nature.
• US banks, particularly those with a significant share of US-based consumer wallets, are aiming to collaborate with the proposed model from NPCI and American authorities to leverage existing capabilities.
• The Indian government is actively working on initiatives for cross-border real-time money transfers through UPI.
• The collaboration aligns with the G20’s goal of improving cross-border payments in terms of speed, affordability, and transparency.
The Indian Highways Management Company Ltd (IHMCL) recommends people obtain FASTags from 32 banks, including Paytm Payments Bank, for easier travel, including Airtel Payments Bank, Allahabad Bank, Bank of Baroda, HDFC Bank, ICICI Bank, IDBI Bank, Punjab National Bank, State Bank of India.
Paytm FASTag Cancellation Process
• Log in to the FASTag Paytm Portal.
• Enter user ID, wallet ID, and password.
• Enter FASTag number, registered mobile number, and verification details.
• Click on Help & Support option.
• Tap 'Need Help With Non-Order Related Queries?'.
• Select 'Queries Related to Updating FASTag Profile'.
Transferring Paytm FASTag to Other FASTag
• Direct transfer is not possible.
• Contact new FASTag issuers like HDFC, ICICI for new tag purchase and registration details transfer.
• FASTag cannot be transferred to the other party. If you are not going to use the registered vehicle anymore, you need to ensure the FASTag that you used for the vehicle is closed.
Paytm FASTag Login:
• Enter user ID, wallet ID, password.
• Paytm customer care numbers: 0120-4456456, 0120- 4770770.
Paytm FASTag Customer Care: 1800-120-4210
• Call mobile number registered with tag.
• Provide Vehicle Registration Number (VRN) or Tag ID.
Best FASTag Service Provider in India
• Available from 32 authorised banks including Airtel Payments Bank, Allahabad Bank, Bank of Baroda, HDFC Bank, ICICI Bank, IDBI Bank, Punjab National Bank, State Bank of India, and Yes Bank.
• Other banks for issuing FASTags include Union Bank of India, Thrissur District Cooperative Bank, South Indian Bank, Saraswat Bank, Nagpur Nagrik Sahkari Bank, Kotak Mahindra Bank, Karur Vyasya Bank, J&K Bank, IndusInd Bank, Indian Bank, IDFC First Bank, FINO Bank, Equitable Small Finance Bank, Cosmos Bank, City Union Bank Ltd, Central Bank of India, Canara Bank, Bank of Maharashtra, AU Small Finance Bank, and
Paytm Bank allows customers to withdraw balances from various accounts without restrictions, except for fund transfers, BBPOU, and UPI. RBI guidelines follow non-compliance and supervisory concerns. IHMCL encourages FASTag users to complete KYC process.
Mutual Fund Industry AUM Contribution in January 2024
• Maharashtra, New Delhi, Karnataka, Gujarat, and West Bengal contributed 69% of the mutual fund industry's AUM as of January 2024.
• These states/UTs saw a 27-30% year-on-year growth in assets under management.
• As of January 2024, these states contributed 68.5% to the total AUM of Rs 52.89 lakh crore, slightly down from 69.43% in January 2023.
• Other states beyond the top 10 have been steadily investing in mutual funds.
• Per capita pe*******on in mutual fund industry is improving in smaller towns and cities due to increased awareness, retail investor interest, and monthly inflows into SIPs.
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Walmart's India Strategy for Export Growth
• Walmart is positioning India as a key export hub, aiming to capitalize on the nation's economic potential.
• The company has achieved $30 billion in cumulative exports over the last two decades, with an annual export target of $10 billion by 2027.
• Jason Fremstad, Senior Vice-President of Supplier Development & Sourcing at Walmart, identifies Production-Linked Incentive (PLI) schemes and continued government investments in infrastructure as key factors for accelerating this growth.
• PLI schemes incentivize domestic production and enhance the competitiveness of Indian products in the global market.
• Walmart's majority-owned online retailer, Flipkart, recognizes the importance of robust last-mile connectivity, which is contingent on improved infrastructure.
• The focus on infrastructure development is yielding tangible results, with a substantial 30-35% reduction in logistics costs.
• Industry experts express hope that any additional tax buoyancy in the next fiscal year will be channelled towards infrastructure spending and capital expenditure.
Reliance Industries Ltd's Shares Reach Rs 20 lakh Cr Milestone
• Reliance Industries Ltd shares hit a record Rs 2,958 in the Sensex graph, marking the first Indian company to reach the Rs 20 lakh crore milestone.
• The company's valuation rose from Rs 10 lakh crore in November 2019 to Rs 15 lakh crore in September 2021.
• RIL is reportedly mulling to merge with Disney+ Hotstar, with Reliance owning 51% and Walt Disney owning 49%.
• The merger is expected to raise $1.5 billion.
• Other top market cap companies include TCS, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, LIC, SBI, Hindustan Unilever, and ITC.
Reliance Consumer Products Limited to Buy Ravalgaon's Confectionery Business
• Reliance Consumer Products Limited (RCPL) is set to purchase candymaker Ravalgaon's confectionery business for ₹27 crore.
• The transaction includes the sale of intellectual property rights, including Pan Pasand and Mango Mood.
• Ravalgaon will continue to hold all other assets post-transaction, with the transaction expected to be completed by the end of March.
• The transaction restricts Ravalgaon from directly or indirectly manufacturing, sourcing, marketing, distributing, or engaging in any business activity related to the company's products.
• Ravalgaon, founded in 1933, operates independently but has struggled to sustain its sugar boiled confectionery business due to increased competition and raw material, energy, and labour prices.
• The pandemic has exacerbated the company's financial position, with schools and offices closed for extended periods, reducing consumer movement and weak demand for its products.
India Plans to Export Vande Bharat Trains
• India's railways minister, Ashwini Vaishnaw, announced plans to export Vande Bharat trains at the Global Business Summit.
• The country has received inquiries from several nations, including Chile, for the export of its flagship locomotive.
• The rail ministry is developing capacity for manufacturing components in its own workshops and in public and private sector units with indigenous designs.
• As of 31 January 2024, 82 Vande Bharat train services are operational nationwide, linking states with broad gauge electrified networks.
• Provision of stoppages and introduction of new train services are ongoing processes.
India's "Make in India" Initiative: C295 Program Approval
• The C295 program in India has received approval from the Directorate General of Aeronautical Quality Assurance (DGAQA) for local production of detailed parts and sub-assemblies for the C295 aircraft.
• The approval is part of India's "Make in India" initiative, aiming to strengthen India's aerospace manufacturing capabilities.
• Airbus Defence and Space, in collaboration with Tata Advanced Systems Limited (TASL), will produce these components at multiple facilities across India.
• The partnership underscores a commitment to uphold high standards of quality and precision in aircraft manufacturing.
• The procurement of 56 Airbus C295 aircraft by India signifies a major advancement in modernizing the Indian Air Force (IAF) fleet.
• The first C295 aircraft was delivered to the Indian Air Force in September 2023, solidifying India's commitment to enhancing self-reliance in defence manufacturing and fostering a robust aerospace ecosystem.
RBI Plans to Eliminate OTP Authentication
• Reserve Bank of India (RBI) plans to eliminate OTP (one-time password) based authentication.
• The plan is shared in a Statement on Development and Regulatory Policies released on Feb 8.
• The RBI proposes a principle-based "Framework for authentication of digital payment transactions".
• The new authentication process will not phase out the entire authentication process, but only the process of additional factor of authentication (AFA).
• The RBI also proposes to streamline the onboarding process of Aadhaar enabled payment system (AePS) for touchpoint operators.
India's Solar Module Exports and Imports Analysis
• India's domestic solar module manufacturing capacity is increasing, leading to increased exports to other countries.
• Union Minister for New and Renewable Energy RK Singh shared data on solar module exports and imports (2022-23).
• The US remains the largest client for solar module exports from India, with a total export value of USD 1000 million.
• Other countries where Indika exported solar modules include UAE, South Africa, Afghanistan, and Turkey.
• India heavily relies on imports of solar cells and modules, with total imports of $1310 million and $94,353 million respectively.
• India's total exports of solar modules were $1031.36 million in 2022-23, while solar cell exports were $1.10 million.
• Despite self-sufficiency in solar module production, India struggles with solar cell manufacturing capacity.
Israel's Tower Semiconductor Proposes $8bn Chipmaking Facility in India
• Tower Semiconductor proposes to build an $8bn chipmaking facility in India.
• The facility will manufacture 65 nanometre and 40 nanometre chips.
• Initial bids for $10bn in incentives to the industry have been unsuccessful.
• Tower, managed by Russell Ellwanger, has been linked to setting up chipmaking factories in India.
• In May 2022, Tower was announced as the main partner in a $3bn chip manufacturing plant consortium.
• Intel's acquisition of Tower for $5.4bn fell through due to regulatory issues in China.
• Tower received a cancellation fee of $375m from Intel, which can be leveraged for new plant establishment.
India's Shift in Focus for Computer and Electronics Manufacturing Industry
• India needs to shift focus from domestic market to regional competitiveness and export-driven.
• Recognizing Vietnam as its biggest rival is crucial for India's growth.
• US Ambassador to India Eric Garcetti emphasized the need for transparency in business environment to attract foreign direct investment.
• The Indian government reduced tariffs on imported components to 10%, a move likely influenced by Washington's orders.
• Other countries, including the US, Japan, and Australia, view India's industrial base as a viable alternative to China.
• Foxconn Technology Group's recent investment in Vietnam demonstrates that India doesn't have a monopoly over business migration away from China.
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Hyundai Motor India Ltd (HMIL), the Indian affiliate of South Korea's Hyundai Motor Co, is preparing for India's largest IPO. The IPO is expected to launch around Diwali, between September and November of this year. Financial institutions estimate HMIL's value to range between US$22-28 billion. The automaker is expected to divest 15-20 percent of its stake, aiming to raise US$3.3-5.6 billion.
Hyundai's IPO Plans
• HMIL is considering listing its local unit in India to take advantage of the country's booming IPO market.
• The company is also investing in new technologies and segments, such as electric vehicles, connected cars, and mobility solutions.
Hyundai's IPO Plan
• HMIL has acquired General Motors India’s Talegaon facility in Maharashtra and plans to invest Rs 6,000 crore in the state to revive the facility.
• The IPO plan comes at a time when India has recently climbed to become the fourth-largest equity market globally.
Challenges and Potential Impact
• Hyundai's IPO ambitions face challenges such as regulatory uncertainty, geopolitical tensions, and market volatility.
• The company may have to comply with government norms on minimum public shareholding, foreign direct investment, and corporate governance.
• If successful, Hyundai's IPO could be a game-changer for the Indian auto industry and a milestone for the company’s global expansion.
Tata Group's Market Capitalisation Surges
• Tata Group's combined market capitalisation crossed Rs 30 lakh crore on February 6, marking the first Indian business house to achieve this milestone.
• The surge in shareholder wealth is attributed to buying interest in Tata Consultancy Services, Tata Motors, Tata Power, and Indian Hotels shares.
• Tata Consultancy Services Ltd surged over 9 percent in 2024, while Tata Motors Ltd advanced over 20%. Tata Power jumped 18 percent, and Indian Hotels gained 16%.
• Tejas Network, Tata Elxsi, and Tata Chemicals dropped over 10% this year, while remaining stocks gained in the range of 1-5 percent.
• TCS reached a new high on February 6, surging over 4% and crossing the market cap of Rs 15 lakh crore.
• TCS recently announced a 15-year partnership expansion with Aviva, aiming to transform the "UK Life business."
• Tata Motors stock surged due to strong earnings, semiconductor chip shortage, lower raw material prices, and robust demand.
• Tata Power showed growth in 2024, aligning with the trend in the power and energy sector.
Giant aerospace company Airbus intends to quadruple the whole investment to $1.5 billion in the next several years, notably increasing its procurement value from India.
The Indian aviation industry would require 2,840 aircraft by 2035, according to Remi Maillard, president and managing director of Airbus India and South Asia, who made this remark at the "Wings India" event in Hyderabad.
India now has the fastest-growing aviation sector in the world, according to a Reuters analysis. The nation is spending close to $12 billion to renovate and construct new airports. India currently has 150 airports. In the following five years, the objective is to raise this figure to 200.
Simultaneously, on January 17, Mahindra Aerostructures Pvt Ltd (MASPL) and Airbus Aerostructures GmbH, an Airbus affiliate, formalized a new agreement. The goal of this strategic alliance is to improve cooperation in the manufacturing and supply of metallic parts for all Airbus commercial aircraft types, especially the hugely successful A320 series.
Telangana Chief Minister A Revanth Reddy and Nadir Godrej, the MD and chairman of Godrej Industries Ltd., had a critical meeting at the World Economic Forum in Davos.
The discussion highlighted Godrej's increasing interest in Telangana and the possibility of significant investments in the State's many industries.
Godrej showed a strong desire to increase the Godrej Group's presence in Telangana through smart investments throughout the talks.
Godrej is already a major force behind the State's oil palm mission; in the Khammam area, they are building one of India's largest integrated oil palm processing complexes, with an initial expenditure of Rs 270 crore.
The Godrej group and the massive Malaysian oil palm company Sime Darby recently finalized a joint venture. Godrej would establish India's first commercial oil palm seed garden in Khammam as part of this JV.
On X platform, the billionaire stated discomfort with growing the EV company's AI and robotics without holding 25% of the voting shares.
The CEO of a major EV company, writing on X, voiced reservations about advancing their AI and robotics initiatives unless they secure a quarter of the voting power.
"A 25% stake gives me sway, but it may also be revoked if twice as many shareholders vote against me as in favor of me. In a follow-up article, he stated, "At 15% or less, the for/against ratio to override me makes a takeover by dubious interests too easy."
The billionaire suggested that they might not support expanding the EV company's AI and robotics unless they have a greater say in the decision-making process.
The future of the EV company's AI and robotics development might hinge on the billionaire acquiring a significant voting stake.
In order to provide generative AI, digital, enterprise, and cloud services to over 300 million organizations and customers in its European and African regions, Vodafone has entered into a 10-year agreement with Microsoft.
The British corporation said that it will replace physical data centers with more affordable and scalable Azure cloud services, as well as spend $1.5 billion in customer-focused AI created with Microsoft's Azure OpenAI and Copilot technologies.
Additionally, Microsoft plans to invest in Vodafone's managed IoT connection platform, which by April 2024 will be a stand-alone company. In addition to spurring development in apps and broadening the platform to link additional machines, cars, and gadgets, the new business will draw in new partners and clients.
With the use of cutting-edge generative AI technology, the new alliance will provide digital services that offer a highly customized and unique client experience across a variety of channels. They will be based on Vodafone's well-established framework for responsible AI, which includes impartial and moral privacy and security regulations.
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WTO Moratorium on Digitally Transmitted Products Faces Critical Judicial Impact • The World Trade Organization (WTO) is considering a moratorium on taxing digitally transmitted products, including movies, music, software, and industry data. • Key skeptics include India, Indonesia, and South Africa, who argue the policy denies emerging economies a valuable revenue source while benefiting advanced countries. • Supporters argue the policy keeps prices reasonable for consumers and enables the spread of digital services worldwide. • Global cross-border data flows are expected to reach $11 trillion by 2025, according to the International Chamber of Commerce. • The WTO has continually renewed the moratorium, but opinions have been diverging. • India and South Africa circulated a document examining the scope and impact of the e-commerce moratorium on developing nations in 2020. • The impact of the moratorium on developing countries' overall government revenue is less than 0.33%, but assessments vary. • A 2019 paper by the United Nations Conference on Trade and Development cautioned that the implications of the moratorium have not yet been properly assessed and that losses could grow as digital technologies advance. • Experts warn of consequences ranging from business uncertainty to higher operating costs if the moratorium falls. • The moratorium underscores the value of multilateral trade and can hinder productivity and revenue growth of startups. • Some experts suggest that countries could face negative effects from opting out of the moratorium with no significant rise in revenue. • For India, the e-commerce moratorium protects India's pharmaceutical industry against patent disputes, which could be extorted by ending the moratorium. • A global consortium of semiconductor industry groups has asked India to reconsider its plans to push for duties on e-commerce and data, warning that this could stifle India's fledgling chip design indust
The DURGA-2 Is planned to be integrated with land, sea and air based platforms. The LSTC is reported to have succeeded in developing a 25KW laser that can target a ballistic missile during its terminal phase at a maximum distance of 5 km. The laser experts are working to enhance this range to 100 km or beyond. #makeinindia #manufacturing #drdo #indiascience #scientist #indianarmy🇮🇳 #atmanirbhar #industry #business #finance #newindia #development
Oman's First Tyre Recycling Plant Opened • The Sultanate of Oman opened its first tyre recycling plant in Saham, Oman. • The facility, initiated by Global Recycle LLC and Dr Hilal Nasser Mansoor al Rawahi, is equipped with the latest technology to process 6000 metric tonnes of discarded tyres annually. • The plant aims to reduce the environmental impact of waste tyres, a challenge faced by many nations. • The recycling process adheres to the highest international standards, ensuring materials can be used in various industries, contributing to a circular economy. • The plant aims to recover materials such as crumb rubber, steel, and fibre from waste tyres, recovering 99 per cent of materials from the waste tyre. • The recycled materials can be used for various applications, supporting the circular economy. • The business model has been successful in India, generating hundreds of direct jobs and creating export possibilities for recycled rubber materials to the Indian sub-continent and central Asia. #oman #asia #tyre #tyrerecycling #makeinindia #manufacturing #jointventure #middleeast #euro #china🇨🇳 #business #finance #investment #startup #viralreels
FDI Policy for Space Sector • Categorizes satellite sub-sector into three activities with specific foreign investment limits. • Updated policy allows 100% FDI via automatic route for manufacturing components, systems, or sub-systems associated with satellites, ground segments, and user segments. • Outlines liberalized entry routes to attract foreign investors to various space activities. • Automatic route for satellite manufacturing and operation, satellite data products, ground segment, and user segment: 74%, 49%, 100%. • Increased private sector participation expected to generate employment, facilitate technology absorption, and promote self-reliance. #isro #indiaspace #chandrayaan3 #spacesector #makeinindia #manufacturing #delhi #development #investing #investment #viral #reel #selfreliance #startuplife #finance
Tata Motors along with its authorised distributor, Tata Africa Holdings Limited, announced the commercial launch of its multipurpose heavy-duty trucks – Ultra T. 9 and Ultra T. 14, in South Africa. #tatamoters #makeinindia #manufacturing #southafrica #reel #viralreels #atmanirbhar #atmanirbharbharatabhiyan #tatagroup #finance #businesscoach #ratantata #tcs #delhimetro #bangalore
This cutting-edge chip, proudly developed in India, targets domains such as weighing scales and Force Touch technologies, signifying a remarkable leap in indigenous semiconductor technology, the company stated. "The semiconductor ASIC represents a paradigm shift in India's semiconductor manufacturing landscape #semiconductor #chipmanufacturing #makeinindia #atmanirbhar #product #electronics #noida #vervesemi #businesscoach #business #finance #industrial #startup
India's Permanent Ambassador to the United Nations Supports Comprehensive Reform of UN Security Council • Ruchira Kamboj, India's permanent ambassador to the UN, supports a comprehensive reform of the UN Security Council across all five clusters. • She emphasized the need for a bold vision for a more equitable and inclusive world. • Kamboj questioned whether expanding only in the non-permanent category would solve the problem, as it would widen the difference between permanent and non-permanent members. • She stressed the concept of "equal opportunity" and the need to rectify historical injustices against the global south. • She emphasized the inclusion of the African Union as a full member state of the G20 during India's presidency. • Kamboj also emphasized the importance of amplifying diverse voices and fostering broader consensus and legitimacy in UNSC decisions. • She raised the question of allowing five permanent members to override the collective voice of 188 member states. #un #usa #india #russia #businesscoach #finance #globalpower #sjayshankar #startuplife #industrial #reel
Egypt to Build Electric and Diesel Car Factory with Hinduja Group • Egypt plans to build an electric and diesel car manufacturing factory with a production capacity of up to 6,000 vehicles in collaboration with Hinduja Group, one of India's largest companies. • The move aims to boost the North African country's economy and create job opportunities for Egyptians. • The facility will be established in collaboration with Egypt’s state-owned El-Nasr Automotive Manufacturing Co. • The sovereign fund of Egypt is emphasized for its role in bolstering partnerships with the local and foreign private sector. • The talks also explore Egypt’s comparative advantages, energies, and capabilities for manufacturing buses and trucks. • India and Egypt have agreed on measures to increase two-way trade to $12 billion over the next five years. #hindujagroup #ashokleyland #CarManufacturersr #Egypt #african #industrial #components #businesswoman #finance #startups #indianmotorcycle #billionaire
India to Use Indigenous Engines for Arjun Main Battle Tanks • India is opting for an indigenous engine for its new Arjun Mk1A tanks due to delays from a German firm. • The Army has placed an order for 118 tanks worth ₹7523 cr, but deliveries are impacted due to the lack of available engines. • The Defence Research and Development Organisation (DRDO) is working on an indigenous option, expected to be ready for production within three years. • The DATRAN 1500 engine, developed for the Futuristic Main Battle Tank program, is being modified for the new Arjun Tanks. • The new Arjun Mk1A tank has enhanced fire power, mobility, and survivability, with 72 additional features over the original Arjun tanks. #DRDO #defence #makeinindia #manufacturing #german #ArjunTank #indianarmy #businessowner #thinktank #reelitfeelit #indigenous #defencemanufacturing
Cochin International Airport Ltd (CIAL) and Bharat Petroleum Corporation Limited (BPCL) Sign Strategic Agreement for Green Hydrogen Plant • CIAL, the world's first fully solar-powered airport, has signed a memorandum of Understanding with BPCL to establish the world's first green hydrogen plant in the airport. • The green hydrogen plant, produced from water using renewable energy sources, aligns with zero-carbon energy strategies. • The agreement was signed at a function in the presence of CIAL's Chief Minister, Pinarayi Vijayan. • CIAL has a cumulative installed capacity of 50 MW, producing 200,000 units of power a day. • BPCL will oversee the establishment of the integrated green hydrogen plant and fueling station at Kochi Airport, providing technology and managing operations. • CIAL will contribute suitable land, water, and green energy resources. • The initial output of the plant will be used to power vehicles within the airport. #BPCL #cochin #greenhydrogen #cleanenergy #makeinindia #CochinAirport #electrolyser #BusinessCoaching #zeroemissions #netzero #Hydrogen #reelitfeelit
Indian Consumer Electronics Manufacturers Expand Export Horizons • Indian consumer electronics manufacturers like Havells, Dixon, Voltas, and Blue Star are expanding their export horizons to developed markets like the US and Europe. • Companies like Havells India have formed subsidiaries in the US for air conditioner distribution, Dixon Technologies plans to scale up Motorola smartphone exports, and Voltas has secured export orders for refrigerators and dishwashers for the European market. • This shift reflects a trend of reducing reliance on imports and increasing value addition in Indian manufacturing. • Blue Star Ltd aims to achieve US$ 500 million in global sales within three years. #voltas #manufacturing #dixontechnologies #electronics #bluestar #contractmanufacturing #makeinindia #business #finance
#Potential impact on India's semiconductor industry and its reliance on imports. Challenges and considerations for the project, such as financing and technology transfer. Comparison with other countries vying for chip manufacturing investments. Specific benefits sought by Tower from the Indian government. The long-term vision for the plant and its contribution to India's chip ambitions. #semiconductorindustry #indieelectronic #towersemiconductor #makeinindia #businessgrowth #semiconductor #manufacturingprocess #autoindustry
India's Engineering Exports to Russia Double • India's annual export of machinery, auto parts, and engineering goods to Russia doubled to over $1 billion in nine months through December. • Russia has signed deals with China, Iran, and India to trade in local currencies, instead of the U.S. dollar. • In late 2022, Russia shared a list of items it wanted to import with India. • Exports recorded 88% year-on-year growth in December, jumping 130% to $1.03 billion in April-December. • Indian engineering exports to Russia are expected to reach $1.5 billion by March 31. #makeinindia #manufacturing #businesscoach #autoinsurance #atmanirbhar #goods #russia #india #finance #financialfreedom #economics #viral #reelitfeelit
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