[🇮🇳] Indian Economy watch- All new developments.

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India set to boost aircraft manufacturing, government to collaborate with HAL and NAL​

Story by FE Online
• 16h • 2 min read

"We want to design and manufacture planes in India," Naidu said. (Twitter)
Civil Aviation Minister K Rammohan Naidu on Monday (October 21) announced that the government aims to develop aircraft design and manufacturing capabilities in India, collaborating with industry leaders.

The Bhartiya Vayuyan Vidheyak Bill 2024, passed by the Lok Sabha in August, includes provisions to regulate aircraft design and manufacturing, aligning with the Aatmanirbhar Bharat initiative.


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“We want to design and manufacture planes in India. We are taking help from HAL (Hindustan Aeronautics Ltd) and NAL (National Aerospace Laboratories) and other industry partners we have,” Naidu stated.

“In the foreseeable future, we want to also have a situation where we manufacture planes not for domestic demand only but also for the demand of the entire world… we are going to move towards it,” the minister said.

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India becoming key market for aviation manufacturers​

Currently, HAL is producing small civilian planes on a limited scale. As India continues to be one of the fastest-growing aviation markets, with over 1,200 planes on order, the country is becoming a key market for manufacturers like Boeing and Airbus.

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Naidu also mentioned that the government plans to establish a special purpose vehicle (SPV) to accelerate domestic commercial aircraft production.

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[Dogun18]

A discussion how India will become a 55 TR. USD economy by 2047. I. E in 100 years of becoming independent.

Will the locals benefits from this or will this only create a few more Ambanis?

 

[Krishna with Flute]

Will the locals benefits from this or will this only create a few more Ambanis?

When will you people come out of ill mentality? Ambani Employs millions directly and Indirectly. Ambani's employees are highly paid guys. Ambani contributes billions of USD to Indian economy (more than 30% of whole Pakistan Economy), His contributes a lot to the wealth of India (His Company's net worth is more than 20 times the total Market capitalization of Pakistan Stock Exchange) and his company pays a huge amount as a tax out of which India runs many development projects.

 

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First C-295 to roll out of Guj facility in '26​

18h • 2 min read

First C-295 to roll out of Guj facility in '26
Ahead of the inauguration of a manufacturing facility for C-295 planes in Vadodara, official sources on Sunday said of the 40 aircraft to be made in India, the first C-295 is likely to roll out of the plant in September 2026. Prime Minister Narendra Modi had laid the foundation stone of the Final Assembly Line (FAL) plant of C-295 aircraft in Vadodara in October 2022.


The Ministry of Defence in September 2021 signed a Rs 21,935-crore contract with Airbus Defense and Space SA, Spain for supply of 56 aircraft.

Of these 56 aircraft, a total of 16 will be brought in flyaway condition directly from Spain, and 40 will be built in India by Tata Advanced Systems Ltd (TASL).

First C-295 medium tactical transport aircraft was delivered in September 2023.

As on date, the IAF has "already inducted six C-295 aircraft" in its Vadodara-based 11 Squadron. The last of the 16 flyaway aircraft will be delivered by August 2025, an official source said.

Spanish Prime Minister Pedro Sanchez is scheduled to visit India from October 28-30, during which he will visit the Vadodara facility on Monday.

PM Modi and his Spanish counterpart will inaugurate the Final Assembly Line plant of C295 aircraft at Vadodara, the first private sector final assembly line for military aircraft in India, the Prime Minister's Office (PMO) said in a statement on Saturday.


Related video: Watch: PM Modi, his Spanish counterpart inaugurates Tata aircraft complex in Vadodara (India Today)
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Watch: PM Modi, his Spanish counterpart inaugurates Tata aircraft complex in Vadodara
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"Of the 40 aircraft to be made in India, the first C-295 will roll out of the Vadodara facility in September 2026 and the remaining 39 aircraft by August 2031," the source added.

The IAF is procuring the C-295 aircraft to replace its fleet of ageing Avro-748 planes that entered the service over six decades ago.
For more news like this visit The Economic Times.

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India's Automobile Exports Rise 14% in April-Sept FY 2024-25, Led by 2 Wheelers​

Overall exports stood at 45,00,492 units in the last fiscal year as compared with 47,61,299 units in FY23.​

• India News
• 2 min read

Reported by: Press Trust Of India
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India's Automobile Exports Rise 14% in April-Sept FY 2024-25, Led by 2 Wheelers | Image: Reuters

​

New Delhi: Automobile exports from India in the first six months of the current fiscal year rose 14 per cent year-on-year, led by gains in shipments of passenger vehicles and two-wheelers.
According to Siam data, the overall exports in the April-September period stood at 25,28,248 units, up 14 per cent as compared with 22,11,457 units in the year-ago period.

​

"Key markets like Latin America and Africa, which had slowed down for various reasons, have bounced back. This has been the main reason for exports coming back," Society of Indian Automobile Manufacturers (Siam) President Shailesh Chandra said.
He was replying to a query on the reasons for the bouncing back of vehicle exports in the April-September period.

​

Various African nations and other regions faced challenges due to devaluation of currencies. This impacted the vehicle shipments as the nations focussed on import of essential items.​

Automobile exports declined 5.5 per cent in FY24 due to the monetary crisis in various overseas markets.

Overall exports stood at 45,00,492 units in the last fiscal year as compared with 47,61,299 units in FY23.​

Total passenger vehicle shipments rose 12 per cent year-on-year to 3,76,679 units in the first half of the current fiscal year as against 3,36,754 units in the September quarter of FY24.

The country's largest carmaker Maruti Suzuki led the vertical with shipments of 1,47,063 units, an increase of 12 per cent over 1,31,546 units in the year-ago period.​

Hyundai Motor India exported 84,900 units, a drop of 1 per cent, as against 86,105 units in April-September period of the previous fiscal year.

Two-wheeler exports rose 16 per cent year-on-year to 19,59,145 units in the April-September period this fiscal year as compared with 16,85,907 units in the year-ago period.​

Scooter shipments increased 19 per cent to 3,14,533 units while motorcycle exports rose 16 per cent to 16,41,804 units during the period under review.

​

Commercial vehicle exports rose 12 per cent year-on-year to 35,731 units in the first six months of the fiscal year.
Three-wheeler shipments, however, declined 1 per cent during the period to 1,53,199 units as compared with 1,55,154 units in the April-September period of the 2023-24 fiscal year.

(Except for the headline, Republic has not edited the content and the story has been published from a syndicate feed)​

India's Automobile Exports Rise 14% in April-Sept FY 2024-25, Led by 2 Wheelers

Overall exports stood at 45,00,492 units in the last fiscal year as compared with 47,61,299 units in FY23.

www.republicworld.com

 

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India's small town is the hub of Ceramic hub with second largest capacity to produce ceramic with production of over 50000 crore.

Morbi's ceramic industry puts glaze on Gujarat growth story, set for further growth: Industry experts​

Read more at:
Morbi's ceramic industry puts glaze on Gujarat growth story, set for further growth: Industry experts

 

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Another masterstroke by Mukesh Ambani, which may change future of telecom industry in India​

RELIANCED roping fast

Another masterstroke by Mukesh Ambani, which may change future of telecom industry in India
Reliance Industries, led by Mukesh Ambani, is set to lead on a new chapter with the upcoming IPO of Reliance Jio. The ambitious move aims to challenge global tech and telecom giants, particularly Elon Musk's Starlink. The estimated valuation for this IPO is around Rs 8,41,157 crore, and if successful, it could become the largest IPO in the history of the Indian stock market.

Mukesh Ambani Future Plans For IPO​

The primary goal of Jio's IPO is to attract significant investments that will be utilized to expand its footprint in 5G, Artificial Intelligence (AI), and cloud services. Mukesh Ambani has set a vision of bringing 5G connectivity to every corner of India, showcasing the company's commitment to building a robust digital infrastructure in the country. Additionally, Jio aims to expand its reach in the Internet of Things (IoT) and high-speed cloud network services, targeting both Indian and international markets.

Reliance began planning for this IPO as early as 2019. Mukesh Ambani had announced a strategy to list Jio and Reliance Retail on the stock market within the next five years. This initiative has garnered support from major investors, including KKR, General Atlantic, and Abu Dhabi Investment Authority, which has led to the valuation of these ventures exceeding $100 billion.

Mukesh Ambani To Challenge Elon Musk's Starlink​

Mukesh Ambani's move is seen as a direct challenge to Elon Musk's Starlink internet service. Jio plans to compete in the satellite internet sector with support from key partners like Google and Meta, aiming to capture a significant share of this market. In addition, Jio has collaborated with NVIDIA to develop its AI infrastructure, which will enhance its technological capabilities.

Jio's strategy is not limited to the Indian telecom market; it also aims to provide affordable and high-quality internet services on a global scale. The company has plans to launch multiple products and services to strengthen its presence internationally.

Mukesh Ambani's​

Mukesh Ambani's decision to launch Jio's IPO is not just about spearheading a digital revolution in India but also about establishing a significant footprint as a global technology leader. By investing and strategic partnerships, Jio aims to become a major player in the global telecom and technology landscape.​

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India will develop complete solar manufacturing ecosystem in 4-5 years: Avaada Group​

India will develop complete solar manufacturing ecosystem in 4-5 years: Avaada Group
India will develop the complete ecosystem of solar equipment manufacturing in the next four to five years compared to other countries which have taken over 20 years says Vineet Mittal, Founder and Chairman of Avaada Group.

Mittal spoke exclusively with on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference at Abu Dhabi.


Indian companies are dependent on other countries for solar energy components, which are hindering the abilities of Indian solar companies, expressing optimism that the situation will change soon.

On the development of a complete manufacturing ecosystem of solar energy, Mittal said

"What other countries have done in the last 20 years, they have built the complete ecosystem of every component of supply chain, which India would take four to five years to develop," Mittal said.

Mittal added that his company, a green energy company headquartered in Mumbai with business interests in renewable energy generation using Solar energy, Wind energy, Pumped Hydro, and Green Fuels, aims to eliminate dependence on imported components, reducing costs and increasing competitiveness.

"We are setting up a campus where you insert a wafer at one end of the factory and the solar panel will be coming out on the other side of the factory," he said, positioning the model as a game-changer in India's renewable energy sector.



He further added that country like India should encourage e-methanol for the transport sector.

"We are already using grey methanol in the North East to run cars and it's the best solution for heavy transport, car transport, and green ammonia for fertilizers. So I think opportunity is humongous. The government should bring out the policy through mandates, through aggregating the demand, and by making it as a fuel of choice," Mittal said.

The founder of Avaada group highlighted the need for long-term government support through mandates and off-take contracts for future development in hydrogen energy sector.

Hydrogen energy is a reliable source of energy but there is a need to work on the cost structure front globally.

"The cost is still high because the whole ecosystem is not well developed. And unless we grow it like solar sector, in solar, when I did my first project, the tariff was closer to 30 US cents. Now we are doing it less than four US cents. So, basically, unless global government decides and brings several projects through long-term off-take contract, the sector would find it difficult to bring prices closer to grey ammonia and blue ammonia," he said.



To encourage green fuels, Mittal asked the government to establish a carbon market to accelerate the transition to green fuels, which is still very costly compared to traditional fuel sources.

A carbon market would provide incentives that are currently missing for businesses and individuals to shift toward cleaner fuel options.

"The biggest practical advice would be for governments to introduce carbon market, in absence of carbon market, there is no incentive for the user community to go for the green fuel," he said.

Mittal said that Avaada Group is advancing India's renewable energy goals through significant investments in solar and wind power. The company has an ambitious plan to contribute to India's 2030 target of 500 gigawatts of renewable energy.

"Currently, Avaada Group is focusing on building 30 gigawatt projects of solar and wind across India," he said, noting that the portfolio includes 5 gigawatt-hours of battery storage and 10 gigawatt-hours of long-duration pumped hydro storage.

With government policies now encouraging the addition of storage systems to existing renewable energy farms, companies can store energy for use during peak hours, effectively stabilizing the market.
For more news like this visit The Economic Times.

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