The Role of Gen AI in the Growth of Fintech
Fintech companies play a crucial role in empowering small business owners in India by offering a wide range of services.
Category: Industry News
The ‘Industry News’ section delivers timely updates on trends, developments, and events within a specific industry, keeping professionals informed and up to date.
Ohio’s Polymer Industry Cluster to Receive $51 Million Federal Investment
The Polymer Industry Cluster, a collaboration based in Akron, Ohio, involving private and public partners, is set to receive a significant boost with a $51 million federal investment.
NAPSO Seeks Industry Input on Potato Storage Practices in North America
In a proactive effort to tackle the critical challenges in potato storage, the North America Potato Storage Organization (NAPSO) has launched an online survey targeting industry members and stakeholders.
Air India Express Union Alleges Unfair Labour Practices; Seeks Government Intervention
The Air India Express Employees Union (AIXEU), representing the cabin crew of Air India Express, has raised serious concerns over alleged unfair labour practices by the airline.
Cement Companies Make a Beeline for ‘Strategic’ South
For Indian cement manufacturers, the strategic focus is shifting southward. UltraTech Cement, a key player in the industry, has recently acquired a 23% stake in Chennai-based India Cements, highlighting this trend.
The Secret Behind the Chinese EV Industry’s Rise: $231 Billion in 15 Years
China’s electric vehicle (EV) industry has surged ahead, thanks to an estimated $231 billion in government subsidies and aid from 2009 through the end of 2023.
Antwerp Brings Good News for Gems Industry
The Indian diamond industry is celebrating a significant achievement as five out of six newly elected board members of the Antwerp World Diamond Centre (AWDC) are of Indian origin.
US Cotton Industry Advocates for Removal of 11% Import Duty on Short Staple Cotton
On Tuesday, Cotton Council International (CCI) urged the government to eliminate the 11% import duty on short staple cotton.
Nirmala Sitharaman to Hold Pre-Budget Meeting with Industry Chambers on June 20
Finance Minister Nirmala Sitharaman is set to conduct pre-budget consultations with industry chambers on June 20, according to sources.
Air Conditioner Manufacturers Boost Capacity Amid Surging Demand
Havells India, the parent company of the Lloyd brand, has announced plans to invest Rs 50-60 crore in expanding its air conditioner manufacturing capacity.
Textile Industry Needs Innovation to Grow
Gujarat continues to be a leader in India’s textile industry, yet experts assert that innovation and the adoption of new technologies are crucial for accelerated growth, especially in the competitive export market.
NTPC Aims to Double Coal Production in Three Years
State-owned integrated power utility NTPC Ltd is set to double its coal production from its mines to 70 million tonnes over the next three years, according to a senior company official.
India’s Semiconductor Industry Faces Significant Talent Shortage by 2027
India’s semiconductor industry is poised for substantial growth but faces a looming challenge: a significant talent shortage.
Inox Air Ventures into Green Hydrogen Market with Ambitious Expansion Plans
Inox Air Products, a renowned manufacturer of industrial and medical gases, is making a significant leap into the green hydrogen sector.
Government Eases Norms for Imported Inputs in Chemical and Plastic Industries
The Indian government has announced a significant exemption for imported raw materials used in the chemicals and petrochemicals sectors, specifically for the manufacturing of export products.
Focus on Quality, Urges Anita Praveen to Food Processing Industry
In light of increasing scrutiny on processed foods in India, Anita Praveen, Secretary at the Ministry of Food Processing Industries, emphasized the importance of adhering to international quality standards.
DoT to Undertake MSME Survey to Promote Industry 4.0 Applications
The Department of Telecommunications (DoT) announced on Wednesday its plan to conduct a comprehensive 60-day survey targeting micro, small, and medium enterprises (MSMEs).
Reliance Industries Shares Surge on Modi’s Predicted Poll Victory
Shares of Reliance Industries Ltd (RIL) soared nearly 6% to a record high following market reactions to predictions of Prime Minister Narendra Modi securing a third consecutive term.
Bisleri Proposes Water Credit System for Beverage Industry
Packaged water giant Bisleri is spearheading an initiative to introduce water credits, similar to carbon credits, to hold beverage companies accountable for their water usage.
India Needs Wider Range of Semiconductor Suppliers, Says Industry Expert
India must attract a more diverse range of semiconductor suppliers to establish a strong chip industry, according to Ajit Manocha, president and CEO of the trade group SEMI.
RBI Finalises Framework for Self-Regulatory Organisations in Fintech Sector
On Thursday, the Reserve Bank of India (RBI) released the final framework for recognising self-regulatory organisations for the fintech sector (SRO-FT).
HDFC Bank to Discontinue SMS Alerts for Low-Value UPI Transactions
HDFC Bank has announced a significant update for its customers regarding Unified Payments Interface (UPI) transactions.
Government Halts New Wastage Norms for Jewellery Exports Until July 31, 2024
In response to concerns from the gems and jewellery industry, the Indian government has decided to put on hold the newly revised norms for permissible wastage amounts in the export of gold, silver, and platinum jewellery until July 31, 2024.
China Unveils $48 Billion Fund to Bolster Chip Industry
China has announced the establishment of a nearly $48 billion fund aimed at boosting its semiconductor industry.
More Startups Working to Make India Their Domicile
In a significant trend, several high-profile Indian startups are gearing up to shift their domicile back to India.
India’s Agrochemical Industry Set for Significant Growth: Report
India’s agrochemical industry, currently valued at approximately $10 billion, is projected to grow to over $14.5 billion by the end of the fiscal year 2027-28, according to a report by Rubix Data Sciences.
UPL and Aarti Industries Form JV for Specialty Chemicals Supply
In a groundbreaking move, UPL Limited and Aarti Industries Limited (AIL) have announced the formation of a 50-50 joint venture (JV) aimed at manufacturing and marketing specialty chemicals.
Smartphones Surge as India’s Fourth Largest Export with 42% Growth
India has witnessed a remarkable growth in its smartphone exports, positioning them as the fourth-largest export item with a 42% increase, reaching $15.6 billion in FY24.
Adani Group Faces Heat Over Allegations of Coal Supply Misconduct
The Adani Group has been thrust into the spotlight once again, facing serious allegations from the Organized Crime and Corruption Reporting Project (OCCRP)
Stocks to Watch: Sun Pharma, Adani Ports, IREDA, Hitachi Energy, BHEL, PI Industries
Sun Pharmaceutical is expected to report a 22% increase in earnings for Q4 of the fiscal year ending in March 2024, driven by robust sales of specialty drugs and the blockbuster generic cancer drug Revlimid.