Page 409 - Industry News
Odisha set to lead petrochemical sector: Union minister Anupriya Patel
She also said the India Chem 2024 summit, scheduled to take place in Mumbai from October 17-19 after a two-year hiatus, is expected to attract significant global participation
 "Odisha set to lead petrochemical sector: Union minister Anupriya Patel")
Aviation watchdog DGCA releases vertiport guidelines for vertical liftoffs
The government is looking to push for eVTOL (electric Vertical Take Off and Landing) aircraft as part of advanced air mobility solutions
 "Aviation watchdog DGCA releases vertiport guidelines for vertical liftoffs")
IESA hails govt's move to ease visa application process for PLI-businesses
IESA president welcomed government's move in providing business visas, saying, 'It will create opportunity for over 100+ GWh ACC battery and battery component factories in next 5 yrs in India'
 "IESA hails govt's move to ease visa application process for PLI-businesses")
Rajasthan gem, jewellery industry lands in the rough amid labour shortage
In 2022-23 (FY23), Rajasthan had exported around Rs 9,470 crore worth of gems and jewellery, with the trade tally climbing to around Rs 11,180 crore in FY24
 "Rajasthan gem, jewellery industry lands in the rough amid labour shortage")
ISA partners with MIGA to fund Solar Energy projects in Sub-Saharan Africa
MIGA and ISA will work together to launch solar power and distributed energy projects in eligible developing countries
 "ISA partners with MIGA to fund Solar Energy projects in Sub-Saharan Africa")
Digi Yatra service to be available now at nine more airports. Details
Passengers at Visakhapatnam, Ranchi, Bhubaneswar, Indore, Raipur, Bagdogra, Patna, Goa (Dabolim), and Coimbatore can now benefit from the contactless boarding pass system
 "Digi Yatra service to be available now at nine more airports. Details")
K'taka okays Rs 100 cr 'Nipuna Karnataka' scheme after local job quota row
The 'Nipuna Karnataka' programme, which includes a Rs 10 crore pilot project, is aimed at boosting the global competitiveness of state's young workforce
 "K'taka okays Rs 100 cr 'Nipuna Karnataka' scheme after local job quota row")
Carbon fibre will be produced by India in 2025-26: Textile minister Giriraj
The European Union's proposed Carbon Border Adjustment Mechanism, a tax on embedded carbon imports, is expected to kick in from 2026
 "Carbon fibre will be produced by India in 2025-26: Textile minister Giriraj")
India may cut petrol, diesel prices as global oil prices reach 2024 lows
The government last cut petrol and diesel prices by Rs 2 per litre, ahead of the general elections in March 2024
 "India may cut petrol, diesel prices as global oil prices reach 2024 lows")
Amazon says exports from India-based sellers to cross $5 bn in 2024
Such items are usually easy to post directly to customers abroad and less affected by import taxes than costlier products
 "Amazon says exports from India-based sellers to cross $5 bn in 2024")
Mutual fund derivatives exposure nears Rs 2 trn on increased arbitrage play
Turnover share in segment under regulator scrutiny also shows signs of increase since 2018-19
 "Mutual fund derivatives exposure nears Rs 2 trn on increased arbitrage play")
Maharashtra approves $ 10 bn semiconductor fab unit by Adani, Israeli firm
The project will have capacity to produce 80,000 wafers monthly and it will create 5,000, says Devendra Fadnavis
 "Maharashtra approves $ 10 bn semiconductor fab unit by Adani, Israeli firm")
Tower-Adani JV to set up $10 bn semiconductor unit in Maharashtra: Fadnavis
The proposed semiconductor manufacturing plant, located in the Navi Mumbai suburbs in Raigad district, will have an initial capacity of 40,000 WSPM in the first phase, with an ultimate capacity of 80,
 "Tower-Adani JV to set up $10 bn semiconductor unit in Maharashtra: Fadnavis")
Despite Byju's setback, edtech sector rebounds slightly with funding uptick
The edtech sector has attracted $215 million in funding to date in 2024, reflecting a slight improvement compared to the total $321 million secured in entire 2023
 "Despite Byju's setback, edtech sector rebounds slightly with funding uptick")
Renewables expansion threatened by poor weather data: Industry leaders
As it strives to reduce the carbon intensity of its economy, India will need to increase the share of renewables in its coal-heavy energy basket, but it is already facing constraints
 "Renewables expansion threatened by poor weather data: Industry leaders")
Corporate leaders' new-found love, business interest: Padel and pickleball
This rising sporting interest is translating into business interest as well. For instance, the pickleball championship was sponsored by Vedanta Foundation
 "Corporate leaders' new-found love, business interest: Padel and pickleball")
ITI scores improve in latest grading; 8.9% receive grade 8 rating
The latest grading comes after FY25 Budget announced a new scheme to skill 2 million youth over the next five years, with 1,000 ITIs to be upgraded in hub-and-spoke arrangements focused on outcomes
 "ITI scores improve in latest grading; 8.9% receive grade 8 rating")
No major tariff hike, but telecom companies' revenue up 7.2% in Q1
Jefferies says sector will maintain 15% CAGR till FY26
 "No major tariff hike, but telecom companies' revenue up 7.2% in Q1")
IT revenue per head rises 6% in June quarter of FY25, says report
Revenue per employee or RPH is an important parameter in the industry as it is considered to be a proxy for pricing trend
 "IT revenue per head rises 6% in June quarter of FY25, says report")
India, Singapore ink agreements on semiconductor, digital technology
Both nations elevate ties to comprehensive strategic partnership
 "India, Singapore ink agreements on semiconductor, digital technology")