Newscast

Underprivileged do well with Tata Motors’ support

Tata Motors in association with Avanti Fellow NGO is helping unprivileged students prepare for NEET, IIT JEE Mains and IIT JEE Advanced competitive exams. It is offering special coaching classes and grooming, for instance, to students of Jawahar Navodaya Vidyalaya Samiti (JNV). The Original Equipment Manufacturer is conducting sessions for class 11 and 12 students with a penchant for science and technology to achieve their ambitions. Claimed to offer unique peer-to-peer learning facilities along with focussed preparation from skilled mentors, the programme is enabling students to better understand the concepts and instil smarter problemsolving in a confidencebuilding exercise. As per the records, 70 per cent of the alumni of this programme have made it to the country’s prestigious institutes of which 23 per cent belong to SC and ST category. Since 2013-14, over 616 students across 62 JNV schools in Pondicherry, Kolhapur, Mangalore and Palghar have benefitted from this programme. In 2020, 43 students aced the IIT JEE Mains and 27 cleared IIT JEE Advanced. JNV Puducherry centre has become the leading centre this year with over 89 per cent and 100 per cent success for IIT JEE Advanced and JEE Mains respectively.

NeoBenk fastfunding for startups

NeoBenk Ventures has set aside a USD 10 million (approximately Rs.7.5 crore) fund for Indian startups in digital payments from its global investment program of USD 50 million (approximately Rs.37.5 crore). By offering fast-funding to startups and businesses in a volatile market, the strategic investment arm of the multinational financial institution, NeoBenk, known to invest in currency exchanges, money service businesses, and payment and remittance solutions among other new interest areas is aiming to develop a successful startup ecosystem. It will also facilitate local partnerships through the mass adoption of digital payments. Startups or businesses can apply for fundraising through NeoBenk’s Global Partners Program. NeoBenk Ventures will engage with them virtually before deciding to invest within a 20 day period.

JK Tyre partners ‘Choupal Saagars’

JK Tyre & Industries Ltd., has collaborated with ITC’s e-Choupal under the ‘Choupal Saagars’ initiative. Aimed at leveraging its presence in the states of Madhya Pradesh, Maharashtra and Uttar Pradesh, the tyre manufacturer wants to penetrate deeper in the tier markets and engage better with the rural communities. To engage across the three states, in a phased manner, with its integrated rural services hubs, JK Tyre is also looking to enhance brand recall. Target group discussions with the help of influencers and customer meets have been identified as key means to meet the objective. The company recently partnered Kia Motors India as a tyre partner for the Seltos.

Visteon Chennai plant rewarded for sustainable practices

The Visteon Chennai manufacturing plant has been rewarded for its sustainable practices with a green manufacturing award. The company bagged a silver medal in India Green Manufacturing Challenge (IGMC) from the International Research Institute for Manufacturing (IRIM). Encouraging the adoption of green processes through training, evaluation and recognition, the program by IGMC helps generate an actionable roadmap for greener facilities and refined, viable processes of manufacturing. Visteon was commended for its approach ensuring an environmentally friendly facility and the growth of its sustainable operations. For instance, the addition of renewable energy sources like solar panels to power a third of the site besides other initiatives leading to a zero liquid discharge. Visteon scored high on emerging technology adoption, recent and bestin-class solutions, the level of automation in operations besides for maintaining a clean, safe and prosperous working environment at the facility.

Shell India to engage startups

Shell India plans to engage 25-30 startups on an annual basis starting in 2022. Under its ‘E4’ programme, where the company focusses on the energy, mobility solutions, energy IoT applications, digital logistics and clean technology among others, the initiative is aimed at the incubation of startups through several modules of linking talent, technology, capital and know-how. Aiming to accelerate India’s transition to sustainable energy, the company will directly provide USD 20,000 to each of the startups selected under the program and also facilitate additional funding to them. Over the past three years, the company is claimed to have engaged with 30 startups and known to have supported them by way of investments and mentorship at the Shell India campus.

India-SCO startup forum

To help strengthen the startup ecosystem in India, Piyush Goyal, Union Minister for Commerce and Industry and Railways launched the India-Shanghai Cooperation Organisation (SCO) Startup Forum. The forum, he mentioned, will help nurture innovation and transition to a transparent, fair and rational new international political and economic order. Sharing best practices, knowledge and engaging investors from the SCO member nations, he opined, would help startups gain the required traction. The forum will also enable mobilising and monetising of capital, setting up incubators and aid in the provision of scale, exposure and market access. Jointly launched by industry body Confederation of Indian Industry (CII) and Department for Promotion of Industry and Internal Trade (DPIIT), the forum is expected to provide a good platform to startups seeking MNC cooperation and engagement with the member states.

Vikas Bajaj is the new AIFI President

Vikas Bajaj has been appointed as the new President - Association of Indian Forging Industry (AIFI). Appointed for the term 2020-2022, he replaces S. Muralishankar, who held the position for the period 2017 to 2020. In his new role, Bajaj will take over the responsibility to strengthen the member base, drive strategic alliances and represent AIFI at various government bodies and to other stakeholders. As the Vice President (VP) of the General Body of the Indian Forging Industry, he is known to have shouldered different responsibilities within the association. He is also the Managing Director and CEO of M/s Bajaj Motors Ltd., where he manages the operations of the company and is also associated with operations and activities of Microtek Forgings (A Unit of Bajaj Motors Ltd.) In other appointments, Yash Jinendra Munot takes over as youngest VP - AIFI. He is also the CEO at Varsha Forgings and the Managing Director at KCTR Varsha Automotive. Munot is known for spearheading and pioneering the launch of sealed ball joint technology in India.

Cummins complies to BSIV CEV standards

Cummins India has complied to the Bharat Stage IV (CEV) emission standards by clearing certification tests for its four-cylinder, 4.5-litre engine at International Centre for Automotive Technology (ICAT). The engine, for wheeled equipment like wheel loaders, backhoe loaders, compactor, harvester and paver among others has earned the compliance ahead of the April 01, 2021 deadline for new emission standard. It can further be scaled up to BSV emission norms and beyond. Averred Ashwath Ram, Managing Director, Cummins India mentioned, “These new engines systems will be powered by Cummins’ best-in-class, globally-proven technology and will ensure higher uptime, better TCO, easy installation and cleaner emissions thus delivering superior value to endusers.” Anjali Pandey, Vice President Engine Business and Components Business Cummins added that the BSIV compliant engine system will enable the company to better penetrate the construction segment.

78 per cent of Indian Startups cut their workforce? As per a survey conducted by have shut down business letting go of startups reducing their workforce in the LocalCircles with a sample size of 7000 the entire workforce with 15 per cent last eight months, 22 per cent startups startups, MSMEs and entrepreneurs reducing the workforce by up to 50 and MSMEs in effect retained and or across 104 major business districts, per cent. About 19 per cent of startups increased their workforce. Notably, 31 around 78 per cent of startups and reduced the workforce by 25-50 per per cent of these are known to have MSME have had to trim their workforce cent with six per cent claiming to have reduced women workforce negatively owing to the pandemic induced crisis increased workforce and the remaining contributing to the low Labour Force impacting revenues and operations. 16 per cent maintaining pre-Covid-19 Participation Rate (LFPR) among 25 per cent businesses are known to levels. Amounting to 78 per cent women in the labour force.

Telangana EV and Energy Storage Policy 2020-30

The state of Telangana is aiming to spearhead the (Electric Vehicle) EV revolution in the country with the announcement of an EV and energy storage policy 2020-30. Turning into a power surplus state in less than five years since its formation in 2014 as a power deficit state, the state leads in renewable energy production today. Setting aggressive targets in clean energy production, complementing the EV charging infrastructure, Telangana with the new policy is striving to be a global manufacturing hub for EVs as it builds on the Fame II scheme of the Government of India. It is also striving to make the state a hub for energy storage systems. To do so, the state government will strive to make the state an attractive investment destination (with investments worth USD 4 billion), promote R&D and manufacturing, ensure faster adoption and achieve substantial reductions in the cost of transportation for personal and commercial purposes by building world-class infrastructure. It will strive to make the state a preferred destination for Electric Vehicle,

Implementation Strategy

1. Incentives shall be made available for manufacturing of EV, Energy Storage Systems (ESS) and related components in Telangana including capital subsidies, SGST reimbursements, power tariff subsidies, etc.

2. Incentives shall be made available for two and threewheelers, four-wheelers, light commercial vehicles, shared transport and public transport. The incentives shall include a waiver on road tax and registration charges.

3. Incentives shall be provided for charging infrastructure.

4. Ride-hailing services shall be encouraged to operate electric two, three and four-wheelers through incentivisation.

5. Battery operated feeder shuttle services at all Hyderabad Metro Stations for last-mile connectivity shall be made available.

6. Existing state self-employment schemes shall be extended to provide financial assistance for the purchase ESS and component manufacturing. It will also promote recycling and cascading of batteries. The government signed MoUs with three-wheeler manufacturer ETO Motors, and electric bus manufacturers Olectra and Mytrah Energy to support their manufacturing plans.

of EVs for commercial purposes.

7. Adoption of EVs at an institutional level shall be promoted starting with Government entities.

8. Preferential parking slots with the required charging infrastructure shall be made available for EVs.

9. Preferential procurement to ‘Make in Telangana’ EVs and ESS for government orders shall be provided.

10. Facilitate in dovetailing with Govt. of India (GoI) schemes and encourage stakeholders to avail benefits available under GoI schemes.

11. Ensure demand-side and supply-side incentives.

12. Develop EV and ESS clusters.

13. Provide preferential market access.

Eyeing Strong Profits and Long-Term Growth

In an upfront interaction, Nitin Chalke, President – Hydraulics and Vehicle, Asia Pacific, Eaton spoke of the transmission manufacturer emerging stronger from Covid-19 hit quarters. He drew attention to the company staying focused on building a strong profit plan for 2021 to stay on course with the long term strategic goals.

Interview by: Ashish Bhatia