In November 2023, China exhibited robust economic performance in the tyre industry as it recorded a notable surge in exports. The country exported a substantial 52.35 million tyres during this period, reflecting an impressive year-on-year increase of 28.7 per cent. This growth was indicative of China’s continued strength in the global tyre market. Simultaneously, the value of these tyre exports[Read More…]
The Board of Directors of Jindal Stainless Limited (JSL) had given their consent for the purchase of a 100% stake in Rabirun Vinimay Pvt. Ltd. in December. RVPL was a company under liquidation. This information was disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015. The cost of the acquisition was Rs 96 crore, according to[Read More…]
A global tech giant Infosys had announced a five-year collaboration with LKQ Europe, one of the leading distributors of automotive aftermarket parts for cars, commercial vans, and industrial vehicles in Europe. Following multiple strategic acquisitions, LKQ had envisioned a corporate program that entailed harmonizing business processes, improving product availability, and enabling faster delivery to end customers. Under this collaboration, Infosys[Read More…]
Bosch, a supplier of technology and services, realigned its Mobility Business to deliver regional growth and customer-centricity. Effective from January 01, 2024, , who was the Joint Managing Director of Bosch Limited and Executive Vice President – Sales, Mobility Solutions, Bosch India, steered the mobility business in India, in addition to his existing responsibilities. Sandeep, who was the Head of[Read More…]
The Defence Research and Development Organisation (DRDO) successfully conducted a flight trial of the Autonomous Flying Wing Technology Demonstrator, which was an indigenous high-speed flying-wing Unmanned Aerial Vehicle (UAV) from the Aeronautical Test Range in Chitradurga, Karnataka. The demonstration of this autonomous stealth UAV was a testament to the maturity of the technology readiness levels in the country. With this[Read More…]
Last month, the Union Ministry of Micro, Small, and Medium Enterprises (MSME) launched three sub-schemes under the RAMP programme. These sub-schemes were designed to support MSMEs in adopting green technology, promoting circular economy projects and addressing the problem of delayed payments. The first sub-scheme, MSME Green Investment and Financing for Transformation Scheme (MSE GIFT Scheme), provided interest subvention and credit[Read More…]
Indian Space Economy is expected to reach USD 44 billion with the implementation of Indian Space Policy in 2023, as per a written reply by Union Minister of State, Dr Jitendra Singh in Lok Sabha. Currently, the Indian Space Economy stands at around USD 8.4 billion which is roughly 2-3% of the Global Space Economy. In the last decade, from[Read More…]
Export prospects for CV suppliers were limited, but opportunities existed amidst headwinds. Ashish Bhatia explored in this multipart series. Export aspirations have faced significant challenges due to unprecedented and peculiar circumstances. These include geopolitical trade uncertainties, supply chain bottlenecks, recessionary trends, and a demand slump that threatens consumption. The Russia-Ukraine crisis has already impacted trade, and the Israel-Gaza crisis has[Read More…]
ACMA reassures continuity in robust growth backed by strategic investments in the auto components sector, writes Richa Tyagi. In its findings shared at the Industry Performance Review for the first half of fiscal 2023-24 (H1-FY24), the turnover of India’s automotive component industry during the period April-September 2023 stood at an impressive Rs.2.98 lakh crore (USD 36.1 bn). This translates to[Read More…]
Tata Passenger Electric Mobility Ltd. (TPEM) and Shell India Markets Private Limited (SIMPL) have joined forces to advance India’s electric vehicle (EV) ecosystem. This collaboration, marked by a non-binding Memorandum of Understanding, aims to establish public charging stations across India by leveraging Shell’s extensive fuel station network and TPEM’s expertise gleaned from over 1.4 lakh Tata EVs on Indian roads.[Read More…]
