Latest news with #HeavyIndustries
Time of India
4 days ago
- Business
- Time of India
Evening news wrap: PM Modi to skip G7 summit in Canada; Salman Khurshid's message to critics, and more
. For the first time in six years, Prime Minister Narendra Modi is unlikely to attend the upcoming G7 summit in Canada, amid diplomatic strain. In domestic politics, Congress leader Salman Khurshid questioned political loyalties at home while promoting unity abroad. Meanwhile, Tesla has no plans to manufacture in India, focusing instead on showrooms, as clarified by the Heavy Industries minister. Union Minister Chirag Paswan signalled a possible return to Bihar state politics. On the international front, Ukraine's Operation 'Spider's Web' targeted multiple Russian airbases, damaging 41 aircraft. Prime Minister Modi unlikely at G7 summit, in a first in 6 years For the first time in 6 years, PM Narendra Modi is unlikely to be a part of the G7 summit that is being hosted this year by Canada June15-17. There's no official invitation yet from Canada for the meeting in Alberta but Modi in all likelihood would not have travelled to the North American country in any case, especially when India still isn't sure the new government in Ottawa will be more receptive to its concerns about the activities of Khalistan separatists. Read full story Salman Khurshid's message to 'people at home': 'Is it so difficult to be patriotic?' Congress leader Salman Khurshid on Monday sent a strong message to "people at home" over political allegiances, even as his recent remarks on Article 370 appeared to deepen discomfort within his party. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo Khurshid expressed concern over political divisions in India, even as a multi-party delegation travels abroad to highlight the country's united stand against terrorism. Read full story Elon Musk-led Tesla is not interested in 'Make in India' for its electric cars; Heavy Industries minister says only showrooms coming up Elon Musk-led Tesla is not interested in manufacturing electric cars in India, Heavy Industries minister Kumara Swamy said on Monday. The minister added that Tesla is only keen to set up showrooms in India. Interestingly, US president Donald Trump has time and again said that it would be 'very unfair' if Tesla were to set up a manufacturing base in India. Read full story 'Don't see myself in national politics for long': Chirag Paswan on contesting Bihar assembly polls Union minister Chirag Paswan on Monday said that he is prepared to return to state politics in Bihar, explaining that his original motivation for entering politics was to contribute to the development of Bihar." He said, "I have said this previously, that I don't see myself in national politics for long. The only reason I came into politics was Bihar and Biharis. My vision has always been 'Bihar first, Bihari first', and I always want Bihar to prosper and be at par with other developed states." Read full story Smuggled drones, hid them in roofs: How Ukraine pulled off Operation 'Spider's Web' from 'office' next to Russian intel HQ Ukraine's Operation "Spider's Web", one of the largest drone attacks carried out by the war-torn nation, hit 41 Russian planes stationed at military airfields on Sunday. In a bold intelligence feat, the operation was coordinated from an office located directly next to local Russian intelligence headquarters. For the first time, Russia officially acknowledged the attack and reported that the Olenogorsk airfield in the Murmansk region and the Sredny airfield in Irkutsk, Siberia, were attacked from nearby spots using trailer trucks as launch platforms. Read full story
New Indian Express
4 days ago
- Automotive
- New Indian Express
Govt not in talks with China to restore supply of rare earth minerals
NEW DELHI: The government is not talking to the Chinese authorities on the country's stricter export controls on rare earth minerals, a key component for manufacturing of cars, especially electric vehicles. A team of the automotive industry is likely to visit China in 2-3 weeks' time to have discussions on restoring supply of these minerals, however, no government representative will be part of the team, said an official in the Ministry of Heavy Industries. Meanwhile, Minister of Heavy Industries HD Kumaraswamy informed the media that the government is monitoring the situation arisen due to disruption of rare earth minerals, and the government is exploring alternative sources for these minerals. China's stricter export controls on rare earth elements have sparked concerns in India's automotive sector, especially among electric vehicle (EV) makers. Industry sources have said the current stockpiles of these critical metals may last only a few days, and delayed shipments could disrupt operations. China has restricted exports of vital rare earths, including EV magnet components. These elements are essential for power steering, electric windows, and high-efficiency motors, making them indispensable for automakers. The move has unsettled India's auto industry, which already depends heavily on Chinese imports for EV batteries and parts. India isn't alone in this struggle. The US and EU also rely on China, which controls nearly the entire supply chain of these materials. Currently, China supplies 85-95% of the world's rare earth metals, cementing its grip on advanced industries. In a meeting with commerce ministry officials recently, India's auto lobbying body - Society of Indian Automobile Manufacturers (SIAM)- said inventories at auto part makers are expected to run out by the end of May. India's auto sector imported 460 tonnes of rare earth magnets, mostly from China, in 2024-25 and expects to import 700 tonnes worth $30 million this year, according to industry estimates.
New Indian Express
4 days ago
- Automotive
- New Indian Express
Tesla not interested in manufacturing in India; focussing on showrooms for now: HD Kumaraswamy
MUMBAI: Elon Musk's Tesla is not interested in manufacturing in India, and all they are looking at right now is to showrooms in India, the Minister of Heavy Industries HD Kumaraswamy said here on Monday after announcing the guidelines for Scheme for Promotion of Manufacturing of Electric Passenger Cars in India (SMEC). Though he said once the application window for SMEC policy opens, the real intent of the companies will be known. The SMEC policy which meant for attracting investment from global EV manufacturers will allow those players who apply under the scheme to import completely built units (CBUs) at a 15% import duty against the currently applicable rate of 70%. The government officials told TNIE that Tesla, which had initially shown interest in setting up manufacturing units in India, attended only the first stakeholders' consultation meetings to discuss the details of the scheme. After the first meeting, they skipped the subsequent meetings. It is to be noted that US president Donald Trump has very close links with Tesla promoter Elon Musk and the latter was part of the Trump administration till recently. When asked about Musk's plans to manufacture in India, Trump had commented it would be very unfair if Musk builds a factory in India. India and the US are negotiating a trade deal and it is said that India might agree to lower tariffs on imports of cars, which varies from 70-10%. Under the India-UK trade deal, which was concluded recently, India has agreed to reduce the tariff on cars to 10%. However, small EVs have been kept out of the purview of the deal.
Fashion Value Chain
7 days ago
- Business
- Fashion Value Chain
National Industrial Corridor Development Corporation (NICDC) Honoured with Udyog Vikas Award
Palakkad Industrial Smart City to reshape Kerala's industrial landscape: Union Minister for State for Heavy Industries, Public Enterprises, and Steel, Shri Bhupathi Raju Srinivasa Varma Union Government committed to developing Greenfield Industrial Smart Cities across India National Industrial Corridor Development Corporation (NICDC) was honoured with the Udyog Vikas Award during the Udyog Vikas event organised by Janmabhumi Daily, a leading news daily in the state of Kerala. The event was graced by the presence of the Minister of State for Heavy Industries, Public Enterprises, and Steel, Shri Bhupathi Raju Srinivasa Varma who highlighted the Union Government's steadfast commitment to developing state-of-the-art Greenfield Industrial Smart Cities across India. From left: Arvind Devaraj, Vishnu Sharma, Minister B.R.S. Varma, Vikas Goel & Rahul Jagadish at the Udyog Vikas Award during the Udyog Vikas event During his address, Shri Varma lauded the transformational potential of the Integrated Manufacturing Cluster (IMC) at Palakkad, stating that the project is poised to reshape the infrastructure and industrial landscape of Kerala and the broader southern region of the country. The event also featured a technical session focusing on the National Industrial Corridor Development Programme, providing in-depth insights into the strategic vision, planning, and progress of the upcoming Palakkad Industrial Smart City. A dedicated session by NICDC Logistics Data Services Ltd. (NLDSL) further elaborated on the innovative digital solutions being deployed through the Logistics Data Bank (LDB) and Unified Logistics Interface Platform (ULIP). The Palakkad Industrial Smart City, spanning 1,710 acres across Pudussery Central, Pudussery West, and Kannambra, represents a major milestone in Kerala's industrial development. Strategically located 21 km from Palakkad city, 120 km from Cochin, and 50 km from Coimbatore, the project offers seamless interstate connectivity and significant logistical advantages, positioning it as a key industrial gateway for South India. With robust multi-modal connectivity via road, rail, and air, the city is designed to attract high-quality investments and drive regional employment and innovation. Key project milestones include: 81% of required land already in possession. Environmental clearances for all land parcels granted on January 01, 2025. Letter of Award issued to Project Management and Construction Consultant. Finalization of EPC tender documents in progress. The event also showcased NLDSL's contributions to transforming India's logistics ecosystem. Since its inception in September 2022, ULIP has integrated 43 systems from 11 ministries, connected through 129 APIs and more than 1,800 data fields, empowering over 1,300 registered companies and enabling more than 100 crore API transactions. This technology-driven platform exemplifies Prime Minister Shri Narendra Modi's vision for a unified, efficient, and transparent logistics network in India. NICDC's recognition at the Udyog Vikas event underlines its vital role in catalyzing India's industrial transformation and enhancing the country's competitiveness in the global manufacturing and logistics arena.
