Panel to tackle pollution around Taj Mahal

The government has formed a committee comprising officials of the environment ministry, experts from NEERI, IITs and various other forums to look into the issue of industrial pollution around the iconic Taj Mahal. The committee will be headed by C K Mishra, Secretary, Ministry of Environment, Forest and Climate Change. The committee will take up the problems on a case-to-case basis.

RBI grants licence to Bank of China

The Reserve Bank of India has issued the license to Bank of China to launch operations in India. With this, Bank of China becomes the second Chinese bank after the Industrial and Commercial Bank of China to have a branch in India. Bank of China is one of the four biggest state-owned commercial banks in China. Bank of China opened its first branch in South Asia in Pakistan’s Karachi in 2017.

Bank credit rises 3.4% in Dec. 2017 quarter

Bank credit grew 3.4% on a sequential basis in the December 2017 quarter. It was due to better performance by private sector banks and an uptick in industrial credit after two successive quarters of declines, according to the Reserve Bank data. At the end of the December quarter, bank credit stood at ?80.62 trillion compared with ?77.95 trillion in the Sept 2017 quarter as per the RBI data.

Retail inflation for industrial workers falls

Retail inflation for industrial workers fell to 3.97% in April. Labour Ministry said the fall is mainly due to lower prices of food items. All India Consumer Price Index for Industrial Workers (CPI-IW) is issued by Labour Bureau. The index is used for working out dearness allowance for central government employees and dearness relief for central pensioners.

Tamil Nadu e-Governance Agency got award

Tamil Nadu e-Governance Agency (TNeGA) has received an award for promoting ease of doing business. TNeGA developed an investor facilitation portal that provides single window clearance to industrial proposals in the state. The award was given in recognition of simplification of procedure and ease with which clearances from various authorities can be procured by a business.

Development of ‘Freight Village’ in Haryana

Cabinet approved the development of trunk infrastructure components for the integrated multi-modal logistics hub known as ‘Freight Village’. They will be built at Nangal Chaudhary in Haryana under the Delhi-Mumbai Industrial Corridor Project. Freight villages are logistics centers, where the cargoes from different transport modes can be reloaded, compiled and prepared for transportation.

India-dedicated investment fund

China’s largest bank, Industrial & Commercial Bank of China has launched country’s 1st India-dedicated publicly offered investment fund. The fund will invest in exchange-traded funds listed on more than 20 exchanges in Europe & US that are based on Indian market.The bank said that the Indian market offers the best opportunity for Chinese investors due to the prospects of double-digit growth.

Industrial output growth at 4.4%

13 : Industrial output grew by 4.4% in March, the slowest in five months, due to a fall in capital goods production and deceleration in mining activity. Industrial growth measured by the Index of Industrial Production in 2017-18 too decelerated to 4.3% from 4.6% in the previous fiscal. The IIP grew by 4.4% in March 2017, the same as in March 2018 according to Central Statistics Office.

Haryana to adopt startup ranking

Haryana government had decided to adopt startup ranking framework issued by Department of Industrial Policy and Promotion (DIPP), Government of India. This would help bring to fore progress made by the state for promoting start-up ecosystem & foster competitiveness. The framework is spread across seven areas of interventions with a total of 38 action points and overall score of 100 marks.

CSIR bags Intellectual Property Award

The Council of Scientific and Industrial Research (CSIR) has been awarded the National Intellectual Property Award, 2018 for being the top research and development organisation for patents and commercialisation.The award was handed over by Union Commerce Minister Suresh Prabhu to mark the World Intellectual Property Day. The CSIR was established in 1942.

1st Solar microgrid commissioned in Gujarat

Swedish-Swiss multinational giant ABB announced it has commissioned India’s first industrial solar microgrid at its Vadodara manufacturing facility in Gujarat.Microgrids with integrated battery energy storage allow cutting down of planned and unplanned power outages. A key benefit is a reduction in overall operational costs and reduced electricity bills.

India, Russia Sign 7 MoU At DefExpo 2018

India and Russia signed 7 MoUs at Defence Expo at Chennai, Tamil Nadu.These MoUs were signed for manufacture, development of spares, sub-assemblies and assemblies of identified Russian origin platforms. The MoUs were signed during third India-Russia Military-Industrial Conference held on the sidelines of DefExpo 2018.

Cabinet approves NEIDS 2017

The Union Cabinet has approved the North East Industrial Development Scheme (NEIDS), 2017. In order to promote employment in the North East States, Government is incentivizing primarily the MSME Sector through this scheme. The newly introduced scheme shall promote industrialization in the States of the North Eastern Region and will boost employment and income generation.

Govt extends fixed-term employment facility

The government has extended the facility of hiring workers on fixed-term employment to all sectors for improving the ease of doing business for companies. This facility was available only to the apparel manufacturing sector as per the Industrial Establishment (Standing Order) 1946. The fixed term employment was defined as a workman who is employed on a contract basis for a fixed period.

DoT’s plan to spur synergy among 7 PSUs

Government unveiled a strategic plan to enable 7 state-owned companies under the DoT to work closely with an aim of promoting greater operational synergy among them.Plan covers MTNL, BSNL, Indian Telephone Industries, Centre for Development of Telematics, Telecommunications Consultants India Ltd., Testing & Certification of Telecom Equipments and BharatNet.

20,000 crore defence corridor for Bundelkhand

PM Modi has announced a defence industrial corridor in Bundelkhand region, one of the most backward regions of UP.In this year’s budget, govt. had announced that it will establish 2 defence industrial production corridors. The corridor will link Agra, Aligarh, Lucknow, Kanpur, Jhansi& Chitrakoot. The decision was taken keeping in mind the developmental requirements of Bundelkhand region.

Pakistan borrows $500 million from China

Pakistan has contracted a commercial loan of $500 million from the Industrial and Commercial Bank of China (ICBC) to shore up its depleting reserves.This is the 2nd loan that the ICBC has given to Pakistan to support its diminishing foreign currency reserves. The loans are obtained to stop the downward slide of the official foreign currency reserves that currently stand at $12.8 billion.

India’s first artificial intelligence centre

Maharashtra state govt will be setting up India’s 1st institute for artificial intelligence.The AI institute will give a fresh impetus to the ‘fourth industrial revolution’ & promote Mumbai as an investment destination in innovations & data analysis.CM Devendra Fadnavis will unveil the plan for the institute during Magnetic Maharashtra Summit which will be inaugurated by PM Modi on Feb 18.

Industrial activity posts robust growth

Industrial activity saw robust growth for the second consecutive month in December, with the Index of Industrial Production growing 7.07%.The rise follows strong growth in the manufacturing, capital goods, and consumer non-durables sectors, according to official data released. The Consumer Price Index quickened by 5.07% in that month.

No angel tax on startups with up to ` 10 cr

Startups incorporated before 2016 with up to ?10 crore in angel funding will be exempted from giving angel tax, the Department of Industrial Policy and Promotion (DIPP) has reportedly said.It’ll benefit about 300 startups that received funding from the Angel Investors Network.A separate committee will be set up for the startups’ recognition, reports said, citing an official.

Punjab inks MoU with IOC

Punjab State Government signed a MoU with the Indian Oil Corporation to set up bio-gas and bio-CNG plants in the state.The MoU with IOC was signed by Punjab Bureau of Industrial Promotion and Punjab Energy Development Agency in presence of Punjab CM Amarinder Singh. This agreement is in line with Punjab State Government’s efforts to find sustainable solutions to paddy straw burning

India’s first IT trade union in Pune

The Pune chapter of the Forum for IT Employees (FITE) has become the first officially registered trade union for the IT sector in India.FITE was formed in Bengaluru a few years ago to fight the layoffs in IT sector. The FITE also helped affected employees file cases under the Industrial Disputes Act before the offices of the Labour Commissioner and the labour court.

MoU for Petrochemical park in Kochi

A MoU for setting up a? 1,800-crore petrochemical park in Kochi was inked by the Kerala government and ‘FACT’.It will come up in 481 acres of land owned by the Fertilisers and Chemicals Travancore. The park was aimed at making Kochi, a hub in petrochemical production chain on par with Jurong in Singapore and industrial complexes in South Korea.

WB provides loans for STRIVE project

World Bank has committed $125 million loan to India for the STRIVE project.The objective of the operation (Skills Strengthening for Industrial Value Enhancement) is to improve access to quality and market-driven vocational training as well as apprenticeships.The result areas for the project include improved performance of industrial training institutes.

India’s first mega CEZ in Maharashtra

Central Government has given approval for setting up India’s first mega coastal economic zone at the Jawaharlal Nehru Port in Maharashtra. CEZ is an economic region comprising several districts that are well connected to the ports in the region and have a strong industrial infrastructure. These zones have business-friendly environment that offers enhanced ease of doing business,

India’s largest CDQ facility

Tata Steel has established India’s largest Coke Dry Quenching facility, capable of handling 200 metric tonnes per hour, at its state-of-the-art steel plant at Kalinganagar Industrial Complex. This environment-friendly technology would help in abating climate change by reduction in the emission of carbon dioxide. CDQ is a heat recovery system to cool hot coke from coke ovens.

Aadhar mandatory for subsidy: Maharashtra

Maharashtra has announced that, in order to avail fertiliser subsidy, farmers in Maharashtra will have to provide their Aadhaar number. Farmers won’t need to have a debit or credit card to purchase fertilisers. This rule will be implemented from November 1, 2017. This decision has been taken to curb diversion of subsidised fertiliser for industrial use or exports.

MIDC to get anti-encroachment cells

Maharashtra Industrial Development Corporation will finally get a dedicated encroachment removal department. The MIDC is presently in control of nearly 1.5 lakh hectares of land, in various stages of acquisition. The mandate of the department that was set up in 1962 is to acquire land, undertake provisioning of infrastructure on these plots and facilitate setting up of industrial units.

“Make in India: Sweden 2017”

Make in India: Sweden 2017, organized by the Department of Industrial Policy and Promotion in Stockholm, from October 12-13 aims to enhance Indo-Swedish cooperation. Delegation is led by the Minister of Commerce & Industry, Shri Suresh Prabhu. The meeting was held to further strengthen Indo-Swedish economic relationship and explore new avenues of collaboration.

Schemes to boost Skill India Mission

The Committee on Economic Affairs has approved two new World Bank supported schemes of Rs. 6,655 crore. The two schemes are Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) and Skill Strengthening for Industrial Value Enhancement (STRIVE). They are outcome focused schemes marking shift in government’s implementation strategy in vocational education and training.

Fuel from methane using oxygen

Scientists have created methanol from methane using oxygen from the air, in an outstanding breakthrough. It uses air, inexpensive chemicals & an energy efficient production process. It has major implications for cleaner, greener industrial processes worldwide. Methanol is currently produced by breaking down natural gas at high temp. into hydrogen gas & carbon monoxide before reassembling them.

CSIR ranked 9th

Council of Scientific & Industrial Research has been ranked 9th amongst 1,207 govt institutions, according to Scimago Institutions ranking World Report 2017. Known for its cutting edge R&D in science & technology, CSIR has a dynamic network of 38 national laboratories & 38 outreach centers. It also provides significant technological intervention in many areas with regard to societal efforts.

Pact on India-Israel tech Fund approved

Cabinet has approved MoU signed b/w India & Israel to set up $40mn fund for industrial research & technological innovation Both the countries will make a contribution of $4mn each for the fund annually for 5 years, which will be governed by a joint board comprising 4 members from each country. Fund is expected to foster & strengthen eco- system of innovation & techno-entrepreneurship in India

Govt extends tax break for industry

CCEA has given approval to the Scheme of providing budgetary support under GST for eligible industrial units in J&K, Uttarakhand, HP & north eastern states including Sikkim. Industries in northeastern & Himalayan states will continue to get tax exemption until March 2027, albeit as the refund, under GST. Budgetary support of Rs. 27,413 cr has been approved from July 1, 2017, till March 31, 2027.

IIP shrinks 0.1% in June 2017

Factory output fell to a four-year low and contracted by 0.1% in June with poor performance of manufacturing and mining sectors. In contrast, IIP grew by a healthy eight per cent in June 2016. For May, IIP growth has been revised upwards to 2.8%. This is the lowest growth since June 2013 when the Index of Industrial Production (IIP) contracted by 1%.

Boeing signs $1 billion contract

US aerospace giant Boeing has signed a billion-dollar contract with French industrial software company Dassault Systemes to modernise its production system. Boeing has signed a 30-year contract worth a billion dollars, renewable every 10 years. Partnership will focus on the use of 3D software “to design future products, to modernise the entire production system and to deploy new services”.

DIPP gets back power to grant licences

Government has made Department of Industrial Policy and Promotion the authority to grant manufacturing licence for defence items. Until now, the exercise was being carried out by the home ministry. DIPP is under the ministry of commerce and industry. It is mainly responsible for formulation of polices with regard to promotion of foreign investment and manufacturing industries.

New IIP, WPI series introduced

The new-look index of industrial production and the wholesale price index, which were declared on May 12. The series has been revised after eight years. Calculated in accordance with the new series, while the IIP rose 2.7% in March, against 1.9% in February, the WPI inflation rate declined to a four-month low of 3.85%in April, against 5.29% in the previous month.

India’s first industrial robot

TAL Manufacturing Solutions Ltd, a subsidiary of Tata Motors Ltd. has created India’s first industrial robot called BRABO. BRABO—short for “Bravo Robot”—has been priced between ` 5-7 lakh and can even be bought on equated monthly instalments, or EMIs. It was manufactured at the TAL’s Pune factory.

Projects stalled on Yamuna Expressway

Yamuna Expressway Industrial Development Authority (YEIDA) has cancelled the building plans of 17 projects of six builders, including Jaypee group. The move is likely to affect hundreds of home buyers too, who have made investments in these projects. 17 projects cancelled are of six builders. These are Jaypee Infratech, Gaursons, VGA Developers, Ajnara Group, Orris Group.

Bhiwandi economic corridor

Bhiwandi, the powerloom centre of the country, is set to get a big development push, with the state government planning to convert it into an economic corridor and make it a logistics hub. The city is likely to be directly connected by train to textile town Bhiwandi via Thane. Bhiwandi has seen rapid growth in the past decade and has emerged as an industrial town.

First use of plasma technology by SAIL

SAIL would be using plasma technology for the disposal of hazardous waste for the conservation of the environment and natural resources. The company would be the setting up a Polychlorinated Biphenyls (PCBs) management facility in collaboration with the United Nations Development Organisation. PCBs are a class of synthetic organic chemicals that can be used for industrial purposes

Government to set up committee to review e-commerce rules

The government has decided to set up a committee to look into all issues including foreign direct investment norms pertaining to the fast-growing e-commerce industry in the country. The committee will be headed by the NITI Aayog CEO Mr. Amitabh Kant. The other members of the panel include officials from commerce and industry ministry and department of electronics and IT among others. Representatives from four states including Maharashtra and Karnataka are also members of the panel. The committee will look at all the issues including FDI pertaining to the e-commerce sector. The committee would also suggest ways to further promote the growth of the sector.

Gujarat government launches industrial tourism to showcase development

In a first of its kind initiative in the country, Gujarat government is promoting a tour package covering major industrial installations which have earned global acclaim for the state. Some of the major attractions of this recently launched tour package include a visit to Tata Nano plant in Sanand, Pipavav port near Amreli, Alang ship breaking yard in Bhavnagar and Amul Dairy in Anand. The package, called Industrial Tour of Gujarat, has been offered by city-based Akshar Travels Pvt Ltd, official partner of state-run tourism agency Tourism Corporation of Gujarat Ltd (TCGL), which is promoting the tour on its website.

Modi inaugurates German industrial fair

Prime Minister Narendra Modi opened the Hanover Messe, the world’s largest industrial fair, alongside German Chancellor Angela Merkel. India is the partner country of this year’s trade fair, which brings together about 6,500 exhibitors from 70 nations. Germany is India’s largest trading partner in Europe and total bilateral trade between the two countries was valued at 16.08 billion euro (17 billion dollars) in 2013. There are currently more than 1,600 Indo-German business collaborations and 600 Indo-German joint ventures in operation.

M.O.Garg appointed as Director General of Council of Scientific & Industrial Research

MO Garg was appointed as the Director General of the Council of Scientific & Industrial Research (CSIR). Prior to his present posting, he was Director in CSIR-Indian Institute of Petroleum (IIP), Dehradun.