New project in india

Share to Twitter Share to Linkedin Ashwin Desai’s listing of his Surat, India-based specialty chemicals maker Aether Industries this month has made him India’s newest billionaire in a city better known for its diamond industry. Desai, the founder and managing director of Aether, controls 87% of the company. Aether listed at a 10% premium to the IPO price of 672 rupees ($8.51), raising a total of 10.4 billion rupees ($134 million), including pre-placements. The 70-year-old chemical engineer started Aether in 2013 and runs it with his wife, Purnima, and sons, Rohan and Aman. While Purnima handles finance, Rohan oversees business operations spanning sales, sourcing and human resources. Younger son, Aman, who has a Ph.D. in organic chemistry from Michigan State University, heads R&D and new projects. With two factories in Surat, Aether has a portfolio of 25 speciality chemical products, which it supplies to a range of industries such as … [Read more...] about Soaring Demand For Specialty Chemicals Produces India’s Newest Billionaire

Representational image The first CAR-T cell therapy, a type of gene therapy, to treat cancers of blood and lymphatic system is likely to be available in India from 2023, offering hope to patients who can’t afford to travel abroad for the expensive treatment. On June 11, ImmunoACT, an Indian Institute of Technology, Bombay spin-off company, launched its facility to start production on a large scale. As of now, CAR-T cell therapy is not available in India, Patients have to travel to countries like the US and it costs nearly Rs 3-4 crore. The indigenously developed CAR-T cell therapy was the result of intense research over the last eight years and had now been patented, Rahul Purwar, a senior IIT-Bombay faculty who is also the founder and CEO of ImmunoACT, said. Incubated at the Society of Innovation and Entrepreneurship at IIT-B, ImmunoACT now has Hyderabad-based pharmaceutical major Laurus Labs as a partner and is looking to make the treatment available at Rs 20-30 lakh a … [Read more...] about Ray of hope for blood cancer, lymphoma patients as CAR-T cell therapy to be available in India

(Image Courtesy: Reuters) Amazon is “excited” about the prospects of Open Network for Digital Commerce in India’s still-nascent e-commerce market, its Country Manager for India Consumer Business Manish Tiwary has said, describing the network as a fascinating idea. The views assume significance as the government in April this year launched the pilot phase of India’s own open network for digital commerce or ONDC, a UPI-type protocol, in five cities, with the ambitious project geared to democratise the fast-growing e-commerce sector, help small retailers and reduce the dominance of online retail giants. Asked about his views on ONDC, Tiwary said the company is looking forward to innovations, which will lift all boats in the ecosystem and bring more buyers and sellers online, as it focuses on serving the next 500 million customers. “I am focused on serving the next 500 million customers. Therefore, I look forward to innovations, which will lift all the boats in the ecosystem,” … [Read more...] about Open Network for Digital Commerce a fascinating idea; excited about prospects: Amazon India senior executive

Representative image India’s attempt to reform military recruitment — which has set off political convulsions that show no signs of abating — once again shows that its aspirations to superpower status are no match for a below-par economy. India’s military — particularly its army — is antiquated in organisation and manpower-heavy. After some ill-advised, populist, and expensive tinkering with pensions early in its tenure, the government found it was spending all its military budget on personnel, leaving very little for modernisation or for hardware. Meanwhile, for more than two decades, its own strategists have been calling for a leaner and younger army. The average Indian soldier is 32 or 33, making its army one of the oldest in the world. So, after two years in which the army suspended its typical annual enlistment of 60,000 young men on 20-year contracts, the government announced it was shifting to a tour-of-duty type system in which new recruits will be taken on for … [Read more...] about To become a superpower, India must create jobs

When the government announced a vaccination programme for 12-14-year olds earlier this year, Neeta Singh (name changed), an educator at one of India’s biggest edtech unicorns, was excited as she thought she would be back in the classroom after almost two years. Singh said she was very keen to get back to her previous employer, a tutoring company, despite the lower compensation as she wanted to get out of the ‘extremely toxic’ culture at the edtech unicorn she had worked at for almost 15 months. “I am a single mother of two and I cannot stop working as both my kids are still in school. The local tuition centre I was working at had asked us to look for different jobs in March 2020, when the government announced the first lockdown,” said Singh. “Back then e-learning platforms were offering huge packages so I accepted it. I thought working from home would be better as I would be able to manage things better. But my incentives and job security were linked to the number of classes, … [Read more...] about Layoffs, restructuring, slowdown: India’s edtech firms are struggling post-pandemic

Representative image Private sector major HDFC Bank will open between 1,500 and 2,000 branches each year for the next three to five years and will roll out new product features every three weeks, the lender’s Managing Director and Chief Executive Officer Sashidhar Jagdishan said in the bank’s FY22 annual report. “The branch will be digital from a customer on-boarding and transaction/servicing perspective. It will provide the emotional connect and relationship management necessary for offering financial solutions to our customers. These branches will be small in size and will be phygital relationship centres,” Jagdishan said. “This will enable us to go after the catchment more aggressively and build the required liability franchise that we are known for, and we are confident that we would execute well,” he added. As on March end, HDFC Bank’s total banking outlets stood at 21,683, while total branches including 4 overseas ones stood at 6,342. The lender’s total ATMs and cash … [Read more...] about HDFC Bank to open up to 2,000 branches in FY23, roll out new features every three weeks, says MD Sashidhar Jagdishan

Carlton House Terrace overlooks The Mall and St James’ Park in London. The Hinduja brothers now occupy Nos 13-16 in the eastern terrace. (Photo: Danish Khan) In 2006, the Hinduja brothers bought 13-16 Carlton House Terrace for £58 million. They spent another £50 million on renovating the 67,000 sq. ft home which was formally opened in 2011. Over 300 people were invited to the housewarming party, but it was a few more years before the Hindujas moved in completely. The family was reluctant to leave their more modest 25,000 sq. ft abode - just opposite Carlton House Terrace - where they had lived for over 30 years. The four brothers Srichand, Gopichand, Prakash and Ashok who control the Hinduja Group do believe in lucky charms. But now the 25-bedroom property, which comprises four interconnected six-storey Georgian Houses, designed by architect John Nash with its classical cornices, French polished timber, and ceiling roses is where they host the high and the mighty. It is easy … [Read more...] about Hinduja brothers find a historical link to Buckingham Palace through their new London home

India’s digital payments landscape has witnessed tremendous growth over the past five years. With 2 out of 5 transactions being digital and contributing to a US$3 trillion digital payment market, the industry is poised for a quantum leap towards the realisation of a cashless economy. Despite this explosive growth, certain segments of the market remain underpenetrated with considerable scope for growth. To deep dive into the current and future digital payments landscape, PhonePe Pulse in collaboration with Boston Consulting Group (BCG) released an exclusive report titled, “ Digital Payments in India: A US$10Tn Opportunity ”. Pulse, PhonePe’s flagship initiative launched last year, has emerged as India’s go-to destination for accurate and comprehensive data and insights on digital payments trends in the country. This insightful report is PhonePe Pulse’s second annual edition which provides an in-depth commentary on the digital payments ecosystem and explores factors and enablers that … [Read more...] about Indian digital payments landscape is projected to be at US$10 trillion by 2026: PhonePe Pulse & BCG report on digital payments

- A + A NEW YORK (June 29): First Solar Inc has decided against building a new factory in the US, citing uncertainties regarding trade policy and tax incentives. The biggest US solar manufacturer is still planning a manufacturing facility in either Europe or India, and Chief Executive Officer Mark Widmar expects to make a final decision within 90 days. That would come after the company completes a third US plant early next year in Ohio and its first factory in India in the second half of 2023. The decision is a setback for US President Joe Biden’s efforts to boost domestic solar manufacturing. Solar installations have slowed this year amid a US Commerce Department trade investigation, raising the prospect of tariffs on panels imported from four Southeast Asian nations. While the White House announced this month a two-year moratorium on new tariffs and took steps to encourage American production, Widmar said the moves don’t address underlying issues that give … [Read more...] about First Solar rejects US site for new factory, eyes Europe or India instead

PM Modi addressing the Indian diaspora in Munich, Germany, on June 26 (Image: Twitter/@DDNews) Prime Minister Narendra Modi will visit Bhimavaram in Andhra Pradesh on Monday during which he will launch the year-long 125th birth anniversary celebration of legendary freedom fighter Alluri Sitarama Raju. He will also inaugurate Digital India Week 2022 in Gandhinagar on Monday, a statement issued by the Prime Minister's Office (PMO) said. At around 11 AM on July 4, the prime minister will launch the year-long 125th birth anniversary celebration of legendary freedom fighter Alluri Sitarama Raju in Bhimavaram, the PMO said. Thereafter, at around 4:30 PM, he will inaugurate the Digital India Week 2022 in Gandhinagar, it said. As part of Azadi Ka Amrit Mahotsav, the government is committed to giving due recognition to the contribution of freedom fighters and making people across the country aware of them, the statement said. Close As part of that endeavour, Prime … [Read more...] about PM Modi to visit Bhimavaram in Andhra Pradesh, Gandhinagar in Gujarat on July 4