Industry News

No Customs Duty for Imported solar equipment

The Central Board of Indirect Taxes and Customs (CBITC) has made it clear that the bulk of imported solar panels and modules will not attract customs duty as 90% of panels used in Indian solar projects are imported.

Primary Fertilizers Witness 2% growth in FY2018

The Primary fertilizers witness growth at 2% in the FY2018 because of the low systemic inventory maintained by fertilizer companies all over the country. The growth has been on an upward stride after a 7% decline in the FY2017.

SoftBank to build the world's biggest solar project in Saudi Arabia

SoftBank and Saudi Arabia plan to build a $200 billion solar power project in Saudi Arabia. The project is estimated to generate around 200 gigawatts of energy. The Installation of the solar panels is planned in the later part of 2018 and the project would start producing electricity by mid-2019.

Cyberattack speculated on Ministry of Defense website showing Chinese Characters

Ministry of Defense website is speculated to be under a cyber-attack after the website displayed an error message and carried some Chinese characters. The Defense Minister confirmed that the site was hacked and said preventive measures will be taken.

Waymo, Google's self-driving spin-off to buy 20,000 from Jaguar

Waymo, Google's self-driving car project, announced a deal to buy around 20,000 electric cars from Jaguar over the next two years. The vehicles will be fitted with components to make them functional without a driver. The fleet would be capable of handling 1 million rides a day.

IBM discloses a computer smaller than a grain of sand

IBM has recently unveiled the world’s smallest computer-a powerful chip of x86 from 1990. The company is aiming to use the chip as the data source for blockchain-based applications. The speck of technology is cost-effective to manufacture and packs several hundred thousand transistors, invisible to

AkzoNobel to sell its specialty chemicals to Carlyle Group

AkzoNobel is all set to sell of its specialty chemicals segment to Carlyle Group, a U.S. private equity firm. The deal will be for $12.5 billion in order to transform the company into a focused supplier of paints and coatings.

HFCL to set up 260 Crore optical fiber plant in Telangana

HFCL would be setting up a Rs. 260 Crore optical fiber plant in the Ranga Reddy district of Telangana. The facility would be producing 6.4 million fiber kilometers per annum. The company’s aim is to reduce the input cost and overcome the shortage of fiber supply in domestic and international market

Kuraray Co. Ltd completes its acquisition of Calgon Carbon Corp

Kuraray Co, a Japanese Chemical manufacturing conglomerate has officially acquired Calgon Carbon Group for USD 1.1 Billion. Calgon would operate as a separate subsidiary of Kuraray in the functional Metals segment, along with Kuraray’s Carbon Material Business Division.

Google, to work on its own blockchain technology for the cloud

Google is likely to start working on blockchain-related technology for supporting its cloud business to prevent competition from new start-ups that use the technology to operate online in new ways.

Amul to launch new flavors- ‘haldi doodh’, Irish mocktail

Amul is all set to launch two new flavors- ‘Haldi Doodh’ and ‘Irish Mocktail’. Both the drinks will be rolled-out by Amul for the first time in Easy-To-Open Cans. It is targeting nearly 5 % of the total milk-based beverage market.

Ford Motor Company and Mahindra Group to co-develop SUVs and a small electric vehicle, Sign MoU

Ford Motor Company and Mahindra Group are all set to sign a MoU, to jointly develop Midsize and compact sports utility vehicles and a small electric vehicle. The companies also plan to co-develop smart car solutions for consumers.

Blue Star to target commercial refrigeration products, water purifiers

Blue Star is focusing on commercial refrigeration products and water purifiers as the next growth driver. The company is planning to double both the business in the next two years. The company plans to venture in the Rs 9,000-15,000 segment of water purifiers.

Tata, Goldstone-BYD Bag the E-Bus Contract

Tata Motors and a joint venture between Goldstone Infratech and BYD have bagged the electric bus supply contracts of 9 cities, leaving rivals companies empty handed.

IBM to unveil AI-powered 'Watson' for businesses

IBM is all set to launch ‘Watson’, a smart enterprise assistant powered with artificial intelligence (AI), cloud and the Internet of Things (IoT) that can be used through voice or text interaction. The aim is to assist businesses in enhancing their brand loyalty and transform customer experiences.

Ford to release new ADAS in its cars in the latter half of 2018

Ford Motor Company will release new and advanced ADAS in the second half of 2018. The company claims their ADAS would be much more advanced than its competitors like Honda, Toyota and Chevrolet.

Samsung SmartThings, HARMAN to enter into a partnership

HARMAN, A wholly-owned subsidiary of Samsung Electronics Co. has partnered with Samsung SmartThings to design and develop the SmartThings App, integrate third-party sensors and drive initiatives for IoT platform hub.

Zevia to launch Ready-to-Drink Organic Tea

Zevia is all set to launch a new line of eight ready-to-drink team flavors. The tea is sugar free, naturally sweetened with stevia, zero calorie, non-carbonated, non-GMO. Zevia’s line now encompasses a wide-range of Liquid Refreshment Beverages.

Volkswagen to produce Electronic Vehicles worldwide on an enormous scale

Volkswagen Group is all set to expand its fleet of Electronic Vehicle cars at a massive scale. The group has announced that around 16 locations around the world will be producing EVs by 2022 and has already started forming partnerships with battery manufacturers in Europe and China.

Micromax to set foot in new segments, invests Rs. 200 crores in Consumer Electronics Segment

Micromax is all set to foray in the consumer electronics segment to diversify its operations. The handset maker will invest Rs 200 crores into washing machines, refrigerators and air conditioners as it moves towards becoming a consumer electronics brand.