The acquisition will give tyre major access to 40 global OEMs and broaden its product offering into construction tyres and bias tracks
Leading global tyre makers such as Bridgestone, Michelin and Goodyear have committed investments worth over Rs 1,100 crore in India after the DPIIT temporarily allowed them to import certain tyres to the country, an official said. The official said that the import restrictions on 'New Pneumatic Tyres' were relaxed for certain global players that were interested in importing specific tyres from their factories abroad into India. The imports were temporarily permitted by the department for promotion of industry and internal trade (DPIIT) subject to the concerned company's commitment to invest and set up or expand its manufacturing facilities in the country for the concerned products, in a time-bound manner. "This initiative has witnessed investment commitments worth more than Rs 1,100 crore from leading global players like Bridgestone, Michelin and Goodyear for the development/expansion of their tyre manufacturing capacity in India," the official said. Additional applications receive
French tyre major Michelin has signed a power purchase agreement with CleanMax Enviro Energy Solutions Pvt Ltd aimed at increasing its renewable energy sources at its facility near here, the company said on Wednesday. The first long-term open access power purchase agreement would allow the tyre manufacturer to increase its use of renewable energy to 37 per cent from the current 11 per cent at its facility in Thervoy Kandigai located at about 45 km west of Chennai in neighbouring Tiruvallur district. "...in India we have been a pioneer in adopting multiple innovative green initiatives both inside and around outside our factory. Our partnership with CleanMax is one more concrete step by Michelin in India to contribute to our global green mission" Michelin Chennai plant director Florent Chaussade said. Michelin India has several green energy projects in and around its state-of-the-art manufacturing plant as part of the Michelin Group's global green mission to becoming carbon-neutral by
Everstone co-founder Sameer Sain, renowned Chef Gaggan Anand and veteran journalist Vir Sanghvi to create Michelin Star-like rankings for chefs, restaurants.
The restaurant is not only a spotted pioneer in the culinary history of India but is also an immensely lionized, multi-award-winning concept offering an absolute dining experience
French tyre major Michelin is pinning hopes on infrastructure development in India to further scale up its business in the country, according to a top company official. The company, which manufactures truck and bus radials in its plant in Chennai, might also look at other segments including production of passenger vehicle tyres from the facility, depending on how India's infrastructure develops. "For us, the trigger in terms of opportunity is when the infrastructure will be built," Michelin Group CEO Florent Menegaux told PTI on the sidelines of Movin'On Summit here. He was responding to a query whether the company would look at production of passenger vehicle tyres from Chennai plant. Currently, the company imports such tyres from its various facilities across the globe. Menegaux said although Indian market is one of the fastest growing regions in the world, infrastructure is not yet sufficiently developed to allow increasing vehicle penetration. "Our estimate is that current ve
At a time when India has to put Khichdi on world food map, we examine how gastronomic excellence is understood globally by looking at Michelin star rating, top accolade in the food business