Page 3 - Industry News

Siemens Gamesa sells power electronics biz to ABB for undisclosed amount

The business designs and manufactures converters, inverters and control cabinets for wind, solar and storage industries

Investment summit, events keep hotel industry happily busy in Rajasthan

There are more than 2,500 big and small hotels in Jaipur

Gem, jewellery exports drop 12.9% in Nov amid geopolitical tension: GJEPC

However, the plain gold jewellery exports grew 72.12 per cent to USD 652.81 in November as compared to USD 379.27 million in the same period of the previous year

Financial fraud up as 59% of Indian firms faced crimes in past two years

Indian companies reported a higher exposure to fraud (59 per cent) than the global average (41 per cent), with procurement fraud emerging as the top concern and forced labour risks

Focus on trade infra, MSMEs to help India double share in global trade: CII

Chairman of the CII national committee on EXIM Sanjay Budhia said that the chamber is committed to working closely with the government to address critical challenges which hinder manufacturing

Real estate attracts $8.87 bn institutional investments in 2024: Report

Foreign institutional investors accounted for 63 per cent of the total institutional investments in Indian real estate

Indian REITs Association appoints Alok Aggarwal to drive sector growth

Established in 2023, the IRA is a non-profit trade organisation that supports the growth and development of India's Real Estate Investment Trust (REIT) sector

Netflix, Amazon oppose Trai's bid to regulate content delivery networks

Streaming giants Netflix, Amazon, and other industry bodies oppose Trai's proposal to regulate content delivery networks, warning it could affect investments and harm India's digital economy

Next step is establishing manufacturing zone for telecom sector: Scindia

Scindia said that the manufacturing zone is the next step following the establishment of the one lakh BSNL towers across the country and the upgrade of 5G technology

275K numbers disconnected, Rs 4000 cr fraud prevented: Jyotiraditya Scindia

Scindia emphasised the efforts of the Home Ministry in setting up a network to tackle cyber fraud which had helped to prevent fraud worth Rs 4,000 crore

Nissan, Honda consider merger to take on world's biggest carmaker Toyota

Honda is considering several options including a merger, capital tie-up or the establishment of a holding company, Executive Vice President Shinji Aoyama said

Premium stays and solo escapes among India's year-end travel trends: Report

Goa, UAE shine as top domestic and international travel destination for Indians this season, with more people opting for holiday packages, reveals MakeMyTrip report

India needs greater support to achieve 2030 clean energy goals: Report

GH2 will not be cost-competitive with natural gas-based grey hydrogen until after 2050, as per the report. Current subsidies cover only 5 per cent of the cost gap and will run out before 2030

Indian companies push marketing spend as sales hit slow lane, shows data

The surge comes amid a consumption slowdown that dragged economic growth to 5.4 per cent in the September quarter, the weakest in nearly two years

Govt plans up to 25% temporary tax to curb cheap Chinese steel imports

The proposal gained broad support at a meeting chaired by commerce minister Piyush Goyal on Tuesday after small industries dropped initial opposition once they received assurances

Five more firms look for govt approval to set up e-commerce export hubs

It will also have an easy re-import policy, he added. This policy will enable the return of e-commerce consignments and rejects without payment of import duty

US-indexed LNG catches the fancy of Indian firms on Trump's return

Indian consumers are seeking to diversify their sourcing contracts by balancing US Henry Hub linked LNG purchases with oil linked contracts

Imports from UAE, S Africa, Switzerland grew in triple digits in Nov

Contraction in merchandise exports in November was led by dip in shipments to the US, the Netherlands, China, and Bangladesh

High costs, boiloff issues challenge India's LNG trucking expansion

It has been 17 months since Indian Oil's Sriperumbudur outlet began operations but it receives no more than five to 20 trucks a day, for sales of around 80 tonnes of LNG a month

Govt needs to properly monitor export promotion scheme EPCG: CAG report

The scheme allows import of capital goods for pre-production, production, and post-production at nil customs duty but subject to meeting export obligations