Category — Manufacturing Technology

Volvo’s Managing Director Says GST Is Good for Business

In an interview with the Economic Times, Tom Von Bonsdorff managing director of Volvo Auto India said that the recently introduced Goods and Services Tax (GST) is a business enabler. “The ease of doing business in India will grow. Now we have just transitioned to GST, give it a few months, it will settle down and will be good for business.”

Bonsdorff told the publication that the company will continue to bring hybrid cars into India despite the higher GST levies on this category of vehicles. Hybrid cars are the crucial first step in helping India achieve its 2030 goal of switching to electric cars for personal transport, he added. In 2019, Volvo will launch its fully electric car globally.

Volvo Logo

“We launched our first plug-in-hybrid last fall. We will continue to launch plug-in-hybrids in all the cars that we bring in. We are committed to that,” Bonsdorff said. He also noted that the company had a good start this year and will go forward in its plan to bring in new cars. He was confident of achieving a target of selling 2000 cars and having 25 new showrooms by the end of this year.

July 20, 2017   No Comments

Warburg Invests $100 Million in India’s CleanMax Solar

In its seventh transaction within one year, NYC-based Warburg Pincus will invest up to $100 million in Mumbai-based rooftop solar projects developer CleanMax Enviro Energy Solutions Pvt. Ltd. According to VCCEdge, the data research arm of VCCircle, this latest investment takes the total amount Warburg Pincus has committed in India to $1.14 billion.

CleanMax is the first renewable energy company that Warburg Pincus has backed in India since it entered the country two decades ago. According to the company’s website, it has more than 45 MW of installed and onsite projects, and caters mainly to corporate customers across automotive, food and beverage, IT and other industries.

Kuldeep Jain, CleanMax founder and managing director, said that his company aims to use the funds to expand in India and pursue growth opportunities in the Middle East and Southeast Asia.

CleanMax Solar Logo

 

 

July 19, 2017   No Comments

India and Israel Sign Defense Agreements Worth $4.3 Billion

Ten agreements worth $4.3 billion were signed during a formal meeting of India-Israel CEOs forum in Tel Aviv soon after Indian Prime Minister Narendra Modi’s visit. These include the manufacture of air defense systems, radars, anti-ship missiles, and medium altitude long endurance UAVs in India, under technology transfer.

Israel Aerospace Industries (IAI) and Kalyani Strategic Systems Ltd., will expand their joint venture to establish a maintenance center for selected advanced air defense systems radars, anti-ship missiles and command & control systems for the Indian armed forces, for $1.54 billion.

Bangalore-based Dynamatic Technologies and Elcom signed a ‘Strategic Teaming Agreement’ to produce, assemble and support UAVs in India with IAI.

Elbit Security Systems Ltd signed a contract with India’s Alpha Design Technologies to increase the scope of their existing joint venture ‘Alpha-Elsec Defense & Aerospace Systems Pvt Ltd’, into areas such as new generation thermal imaging equipment, fire control systems, unmanned aerial systems (UAS), in addition to night vision devices, laser range finders, laser pointers, and reflex sights.

India’s Garware Wall Ropes Ltd., signed a Memorandum of Understanding with Israel’s Aero-T for manufacturing and supply of advanced aerostats for India’s Defense services, reports Defense World.

Israel-India flag

 

July 11, 2017   No Comments

India’s Wipro Partners with Israel Aerospace Industries

Wipro Infrastructure Engineering (WIN), subsidiary of Wipro Enterprises (P) Ltd and Israel’s state-owned Israel Aerospace Industries (IAI) announced a strategic alliance for manufacturing composite aerostructure parts and assemblies.

Wipro Infrastructure Engineering will set up a manufacturing facility in India in partnership with IAI to meet the requirements of global aircraft original equipment manufacturers and tier-1 suppliers. The plant will make composite structures in India for global markets.

An airplane

Pratik Kumar, CEO, WIN and Executive Director, Wipro Enterprises, said, “This partnership will not only strengthen our presence in the growing aerospace sector but will also help us explore emerging business opportunities in key markets.”

In 2016, WIN acquired H.R Givon Ltd., an Israel-headquartered manufacturer of metallic parts and assemblies for the aerospace industry.

July 6, 2017   No Comments

GE Plants Deep Local Roots in India

In a remote eastern corner of the northern state of Bihar in India, 600 miles south-east of Delhi, GE’s factory in Marhaura will house its locomotive project – GE’s centerpiece of its $200 million investment. Government of India’s $2.5 billion order for 1,000 locomotives over 11 years is one of the largest deals ever for GE’s transportation unit, and its biggest order ever in India. The factory is a joint venture with state-owned Indian Railways that invested $15 million. The plant will employ about 400 workers and is slated to begin assembling locomotives late next year.

To provide housing for workers that GE will recruit from other parts of the country, the company is building 100 residential units near the factory site. The company will also work with local officials to try to streamline bureaucracy to widen and straighten roads to ensure it can get materials to the site.  “There is a strong trend toward economic nationalism all over the world,” CEO, Jeff Immelt, said in February in a letter to shareholders. He added that the company could not depend on new trade deals to ease global commerce, but must scatter production all over the world.

locomotive

John Flannery, who once ran GE’s India business, and who will take on the role of CEO in August when Immelt retires, says, “What works in Milwaukee doesn’t necessarily work in Mumbai.”

The Wall Street Journal says: A localization strategy requires a deft political touch. GE maintains that overseas investments aren’t coming at the expense of U.S. workers. The engines for all 1,000 locomotives to be assembled in Marhaura, will be built at GE’s Grove City, Pa., plant.

GE’s factory complex in the industrial city of Pune, in the state of Maharashtra, has trained a cadre of skilled workers in an automated facility, and this facility is expected to produce about 30% of the components in the locomotives to be assembled in Marhaura.

 

July 4, 2017   No Comments