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Union Budget 2024 | Reaction from Mahesh Viswanathan, Deputy CEO and CFO, Finolex Cables Ltd.

Union Budget 2024 | Reaction from Mahesh Viswanathan, Deputy CEO and CFO, Finolex Cables Ltd. We welcome the employment and manufacturing generation initiatives outlined in the budget. The introduction of a credit guarantee scheme for term loans on machinery and equipment purchases, without collateral or third-party guarantees, is a progressive step that will empower MSMEs to innovate and expand, driving growth and job creation across the nation. Additionally, the exemption of...

Union Budget 2024 | Reaction from Saurabh Marda, Co-founder and MD, Freyr Energy

Union Budget 2024 | Reaction from Saurabh Marda, Co-founder and MD, Freyr Energy The recent budget has been highly favorable for the energy sector, with the government setting an ambitious goal of achieving 500 GW of renewable power by 2030. A key component of this plan is encouraging homeowners to adopt solar energy, facilitating a swift transition to solar power. To support this, the government has allocated Rs 70,000 crores...

Union Budget 2024 | Reaction from Dimitrov Krishnan, MD, Volvo CE India

Union Budget 2024 | Reaction from Dimitrov Krishnan, MD, Volvo CE India We welcome the Union Budget 2024-25 for providing a significant impetus to the construction equipment sector. The vision of 'Viksit Bharat' by 2047 underscores the importance of allocating substantial resources for infrastructure development to enhance India's growth trajectory. The proposed increase in capital expenditure by 11.1 percent, amounting to Rs. 11.11 lakh crore for FY2025, will significantly support...

Union Budget 2024 | Reaction from Bantwal Baliga, Group CEO, Acquaviva

Union Budget 2024 | Reaction from Bantwal Baliga, Group CEO, Acquaviva The Union Budget 2024 introduces a pivotal scheme aimed at incentivizing the hiring of first-time employees, a move set to transform the manufacturing sector. This initiative, benefiting 3 million youths and their employers through direct incentives based on Employees' Provident Fund (EPF) contributions over four years, underscores the government's commitment to fostering job creation and nurturing a skilled workforce....

Union Budget 2024 | Reaction from Saurabh Kumar, VP-India, Global Energy Alliance for People and Planet (GEAPP)

Union Budget 2024 | Reaction from Saurabh Kumar, VP-India, Global Energy Alliance for People and Planet (GEAPP) "The policy-driven emphasis on the energy sector in the Union Budget 2024-25 exemplifies the Government's commitment to integrating the principles of energy security and energy transition as a cornerstone of Viksit Bharat. We anticipate that the development of energy transition pathways will bolster state-level initiatives to accelerate renewable energy adoption. Furthermore, the proposed...

Union Budget 2024 | AiMeD hails visionary budget for Medical Device Sector | Budget Reactions

UNION BUDGET 2024 | AiMeD HAILS VISIONARY BUDGET FOR MEDICAL DEVICE SECTOR | BUDGET REACTIONS The Association of Indian Medical Device Industry (AiMeD) on Tuesday hailed the Union Budget-2024 presented by Finance Minister Nirmala Sitharaman in the Parliament today as visionary and progressive, with the potential to significantly boost the country’s overall economic growth. In a statement, AiMeD Forum Coordinator, Rajiv Nath said, “The Union Budget-2024 is visionary and progressive. It will...

Bharat Construction Equipment Expo 2025 Set for January 19-22

Bharat Construction Equipment Expo 2025 Set for January 19-22 The Ministry of Commerce & Industry, Government of India, has announced the 1st edition of the Bharat Construction Equipment Expo 2025, scheduled from January 19 to 22 at the India Expo Mart in Greater Noida. This event is part of the larger Bharat Mobility Global Expo 2025, which will also feature the Auto Expo Motor Show 2025 and the Auto Expo...

Freyr Energy Targets Solarization of 1,000+ Homes in Uttar Pradesh by March 2025

Freyr Energy Targets Solarization of 1,000+ Homes in Uttar Pradesh by March 2025 Freyr Energy, is set to significantly boost residential solar adoption in Uttar Pradesh. The company announced plans to solarize over 1,000 households by March 2025, building on its successful solarization of 10 villages in Lakhimpur and Bahraich districts, where it has achieved a total installed capacity exceeding 300 kW. Freyr Energy has already made notable contributions to Uttar...

Toshiba invests Rs 5oo Cr to boost Power Equipment Production in India

Toshiba invests Rs 5oo Cr to boost Power Equipment Production in India Toshiba Group on Thursday said it will invest 10 bn Japanese yen (over Rs 500 crore) to increase the capacity of producing power transmission and distribution equipment in India. Toshiba Transmission & Distribution Systems (India) Pvt Ltd (TTDI) will increase its capacity of manufacturing power transformers and distribution transformers by about 1.5 times compared to FY2023, over three years...

Tata Power sign MoU with NHPC-REL for Solarisation of Government Buildings

Tata Power sign MoU with NHPC-REL for Solarisation of Government Buildings Tata Power Renewable Energy Limited (TPREL) has signed a MoU with NHPC Renewable Energy Limited (NHPC-REL). This collaboration aims to install rooftop solar projects across government buildings of Central Ministries, States, and Union Territories, under the ambitious PM Surya Ghar Yojna Scheme. The initiative, targeting 100% solarization of government-owned buildings by December 2025, marks a substantial step in India's renewable...

Malaysia Emerges as Strategic Hub for German Machine Tool Industry

Malaysia Emerges as Strategic Hub for German Machine Tool Industry Amidst the challenges of delivery difficulties, market lockdowns, and logistics bottlenecks faced during the pandemic, the German machine tool industry is strategically expanding its global footprint. A significant move in this direction was marked by the "Innovations in Production Technology – German Machine Tools Symposium," held on July 10, 2024, in Kuala Lumpur. Organized by the VDW (German Machine Tool...

Bajaj Auto Reports Double-Digit Growth in Q1 FY25

Bajaj Auto Reports Double-Digit Growth in Q1 FY25 Bajaj Auto Limited has reported a strong performance in the first quarter of FY25, showcasing double-digit growth across all key financial metrics, including domestic and export revenue, EBITDA, and PAT. Quarter Highlights are as follows: Revenue from Operations: ₹11,928 crores, marking a 16% year-on-year (YoY) increase driven by robust vehicle sales and record spares revenue. This growth was supported by volume expansion in both...

Cummins India Expands IT Global Competency Center in Pune

Cummins India Expands IT Global Competency Center in Pune Cummins India has inaugurated its first IT Global Competency Center (GCC) at its India Office Campus in Balewadi, Pune, Maharashtra. The center was officially opened by Earl Newsome, Vice President and Chief Information Officer of Cummins Inc., Annapurna Vishwanathan, Chief Information Officer of Cummins India, and other senior officials. The establishment of this center is a cornerstone of Cummins’ multi-year IT transformational...

Hartek Secures Major 765kV Projects from PGCIL

Hartek Secures Major 765kV Projects from PGCIL Hartek Group has secured 765kV projects from the Power Grid Corporation of India Ltd. (PGCIL), including high-voltage transmission projects in Indore and Kurnool. These projects aim to enhance power system reliability and increase transmission capacity to power-deficit regions, aligning with India's ongoing efforts to strengthen its power infrastructure. The 765kV projects are crucial for efficient power transmission, benefiting both the transmission and renewable energy sectors....

India Poised to Lead Global Circular Economy Transition: Highlights from ICEF2024

India Poised to Lead Global Circular Economy Transition: Highlights from ICEF2024 The New Delhi Leaders’ Declaration at the G20 highlighted India's increasing influence and aspirations to contribute positively to global governance and stability. India's role in the evolving geopolitical landscape is underscored by its efforts to balance national interests with global responsibilities. This declaration marked a significant milestone in showcasing India's leadership on the global stage, emphasizing the importance of...
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Flashback Arrestor | How it works

Flashback Arrestor | How it works Safety is critical in every industrial gas application. A flashback arrestor is an essential safety device used in oxy-fuel...
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