Latest news with #MakeInIndia
India Gazette
9 hours ago
- Business
- India Gazette
India to build first-ever Polar Research Vessel as GRSE signs MoU with Norway's Kongsberg
Oslo [Norway], June 3 (ANI): India's Garden Reach Shipbuilders and Engineers Limited (GRSE) has signed a Memorandum of Understanding (MoU) with Norway's Kongsberg company to build India's first-ever indigenous Polar Research Vessel (PRV). According to a release, Union Minister of Ports, Shipping and Waterways (MoPSW), Sarbananda Sonowal, also attended the MoU signing ceremony between the two companies. The MoU was signed on the sidelines of Norshipping 2025, a maritime trade fair on June 2 in Oslo, Norway. Speaking on the occasion, Sonowal said, 'Let this MoU signing be a beacon of hope and progress, signalling India's unwavering commitment to scientific advancement and sustainable development. Together, we are building not just a vessel but a legacy of innovation, exploration, and international cooperation that will inspire generations to come.' He highlighted how the MoU will boost the 'Make in India' initiative, launched in 2014, which is meant to boost India's manufacturing sector, including increasing indigenous defence manufacturing. 'Under the leadership of Prime Minister Narendra Modi ji, this MoU is a commitment to fostering scientific discovery, advancing India's capabilities in polar and ocean research, and contributing to global efforts to address pressing challenges like climate change. The vessel will be equipped with the latest scientific equipment, enabling our researchers to explore the oceans' depths, study marine ecosystems, and unlock new insights into our planet's past, present, and future. This will be a testament of India's critical shipbuilding capabilities -- boosting further 'Make In India' initiative of the government,' Sonowal said. 'I congratulate all stakeholders for their dedication and look forward to the day when this Polar Research Vessel sets sail, carrying India's aspirations to the farthest reaches of the globe,' he added. The MoU between GRSE and Knogsberg marks an important milestone for India's shipbuilding sector as it will receive design expertise for developing the PRV, while taking into account the requirement of National Centre for Polar and Ocean Research (NCOPR), who will use it for research activities in the polar and southern ocean realms. GRSE will be building the PRV in its yard in Kolkata, ensuring a boost to Government's 'Make In India' initiative. The leadership of Kongsberg as well as GRSE joined the Union Minister, senior government officials from Norway and India at the event. After the signing of the MoU, GRSE highlighted how the PRV will help with supporting India's scientific research missions in Arctic and Antartic Regions, contributing to climate research, oceanography and polar logistics. 'The vessel will play a pivotal role in supporting India's scientific missions in the Arctic and Antartic Regions contributing significantly to climate research, oceanography and polar logistics. This is in line with the strategic initiative of the Ministry of Earth Sciences MoES, Govt of India to acquire a state of Art Polar Research vessel (PRV) aimed at strengthening India's Polar research capabilities,' GRSE posted on X. Union Minister Sonowal also represented India in a high Level Ministerial Meeting on the 'Role of Shipping in Shaping the Future.' The meet emphasised the need of the industry to align towards a stable, long term regulatory environment supporting an inclusive and de-carbonised ocean-based trade. Ministers from Brazil, Japan, UN, US, China, and Norway joined Sonowal at the meet. 'India's maritime sector is on a transformative path, driven by sustainability, innovation, and global partnerships. We invite greater collaboration with Norway to build a green, smart, and resilient maritime ecosystem. With major investments in green ports, alternative fuels like green hydrogen, and strategic incentives, India aims to become a global leader in shipbuilding. Our growing partnership with Norway -- reflected in Indian shipyards delivering next-gen vessels to Norwegian firms -- showcases India's emergence as a trusted, future-ready hub for cost-effective and sustainable maritime solutions,' the union minister said. He also highlighted key areas for India-Norway maritime collaboration, saying that Indian shipyards currently hold 11% of the Norwegian Shipowners' Association (NSA)'s order book. He urged for further expansion of orders, including leveraging India's ship-breaking credit note scheme. He also underlined the significant investment opportunities available under India's flagship Sagarmala programme and the USD 2.9 billion Maritime Development Fund, offering incentives across shipbuilding, ports, and logistics. The Minister stressed India's commitment to innovation through digital platforms like ONOP and MAITRI and Invited Norway's cooperation in green shipping corridors, ship recycling, and IMO-aligned net-zero goals, noting that 87% of Indian recycling yards are now HKC compliant. The Union Minister is on a five day official visit to Norway to participate in Nor-Shipping event as well as to Denmark, with a main aim to further strengthen the maritime relationship with the leaders of the Global Maritime sector. (ANI)
Hindustan Times
12 hours ago
- Business
- Hindustan Times
India to build first-ever indigenous Polar Research Vessel as GRSE signs MoU with Norway's Kongsberg
India's Garden Reach Shipbuilders and Engineers Limited (GRSE) has signed a Memorandum of Understanding (MoU) with Norway's Kongsberg company to build India's first-ever indigenous Polar Research Vessel (PRV). According to a release, Union Minister of Ports, Shipping and Waterways (MoPSW), Sarbananda Sonowal, also attended the MoU signing ceremony between the two companies. The MoU was signed on the sidelines of Norshipping 2025, a maritime trade fair on June 2 in Oslo, Norway. Speaking on the occasion, Sonowal said, "Let this MoU signing be a beacon of hope and progress, signalling India's unwavering commitment to scientific advancement and sustainable development. Together, we are building not just a vessel but a legacy of innovation, exploration, and international cooperation that will inspire generations to come." He highlighted how the MoU will boost the 'Make in India' initiative, launched in 2014, which is meant to boost India's manufacturing sector, including increasing indigenous defence manufacturing. "Under the leadership of Prime Minister Narendra Modi ji, this MoU is a commitment to fostering scientific discovery, advancing India's capabilities in polar and ocean research, and contributing to global efforts to address pressing challenges like climate change. The vessel will be equipped with the latest scientific equipment, enabling our researchers to explore the oceans' depths, study marine ecosystems, and unlock new insights into our planet's past, present, and future. This will be a testament of India's critical shipbuilding capabilities -- boosting further 'Make In India' initiative of the government," Sonowal said. "I congratulate all stakeholders for their dedication and look forward to the day when this Polar Research Vessel sets sail, carrying India's aspirations to the farthest reaches of the globe," he added. The MoU between GRSE and Knogsberg marks an important milestone for India's shipbuilding sector as it will receive design expertise for developing the PRV, while taking into account the requirement of National Centre for Polar and Ocean Research (NCOPR), who will use it for research activities in the polar and southern ocean realms. GRSE will be building the PRV in its yard in Kolkata, ensuring a boost to Government's 'Make In India' initiative. The leadership of Kongsberg as well as GRSE joined the Union Minister, senior government officials from Norway and India at the event. After the signing of the MoU, GRSE highlighted how the PRV will help with supporting India's scientific research missions in Arctic and Antartic Regions, contributing to climate research, oceanography and polar logistics. "The vessel will play a pivotal role in supporting India's scientific missions in the Arctic and Antartic Regions contributing significantly to climate research, oceanography and polar logistics. This is in line with the strategic initiative of the Ministry of Earth Sciences MoES, Govt of India to acquire a state of Art Polar Research vessel (PRV) aimed at strengthening India's Polar research capabilities," GRSE posted on X. Union Minister Sonowal also represented India in a high Level Ministerial Meeting on the 'Role of Shipping in Shaping the Future.' The meet emphasised the need of the industry to align towards a stable, long term regulatory environment supporting an inclusive and de-carbonised ocean-based trade. Ministers from Brazil, Japan, UN, US, China, and Norway joined Sonowal at the meet. "India's maritime sector is on a transformative path, driven by sustainability, innovation, and global partnerships. We invite greater collaboration with Norway to build a green, smart, and resilient maritime ecosystem. With major investments in green ports, alternative fuels like green hydrogen, and strategic incentives, India aims to become a global leader in shipbuilding. Our growing partnership with Norway -- reflected in Indian shipyards delivering next-gen vessels to Norwegian firms -- showcases India's emergence as a trusted, future-ready hub for cost-effective and sustainable maritime solutions," the union minister said. He also highlighted key areas for India-Norway maritime collaboration, saying that Indian shipyards currently hold 11% of the Norwegian Shipowners' Association (NSA)'s order book. He urged for further expansion of orders, including leveraging India's ship-breaking credit note scheme. He also underlined the significant investment opportunities available under India's flagship Sagarmala programme and the USD 2.9 billion Maritime Development Fund, offering incentives across shipbuilding, ports, and logistics. The Minister stressed India's commitment to innovation through digital platforms like ONOP and MAITRI and Invited Norway's cooperation in green shipping corridors, ship recycling, and IMO-aligned net-zero goals, noting that 87% of Indian recycling yards are now HKC compliant. The Union Minister is on a five day official visit to Norway to participate in Nor-Shipping event as well as to Denmark, with a main aim to further strengthen the maritime relationship with the leaders of the Global Maritime sector.
India Gazette
a day ago
- Business
- India Gazette
L'Oreal to double its India business; company CEO says the country is strategic market, big priority
Paris [France], June 2 (ANI): Nicolas Hieronimus, CEO of global beauty products company L'Oreal, has said they aim to more than double business in India over the next couple of years. The L'Oreal CEO had a meeting with Union Commerce Minister Piyush Goyal in Paris today. '...I am very pleased with the meeting I just had with Minister Goyal (Piyush Goyal). We shared our mutual ambition for India and India is a very strategic market for L'Oreal,' the CEO said. L'Oreal's leadership has identified India as a very strategic market with very strong growth potential. Hieronimus said India is a country of opportunities, one of the fastest-growing beauty markets in the world. 'We intend to more than double our business in the next couple of years, expand our factories which are today manufacturing 95% of what we sell in India but also export into rest of the region. So, it is a country of opportunities, one of the fastest beauty markets in the world and a big priority for L'Oreal,' he told the media. India serves not only as a consumption market but also as a regional manufacturing hub for L'Oreal's operations. 'We are exporting hair and skin products, particularly to the Gulf region. So, it is just the beginning of a big adventure. We are manufacturing half a billion units in India, but we intend to increase that in the years to come.' The rapid growth trajectory of beauty product markets in India, coupled with the country's manufacturing capabilities and skilled workforce, makes the country an attractive destination for international companies looking to establish regional production bases while serving the domestic market. 'Discussed opportunities for L'Oreal to #MakeInIndia for the world,' Goyal said in a post on X after the meeting. (ANI)
United News of India
a day ago
- Business
- United News of India
India prime investment destination for global aviation firms: Modi
New Delhi, Jun 2 (UNI) Prime Minister Narendra Modi said on Monday that India is rapidly emerging as a leading force in the global space-aviation convergence and the country offers an excellent investment opportunity for the world's leading aviation companies. Addressing the World Air Transport Summit at Bharat Mandapam here, the Prime Minister said, 'Today, India is the world's third-largest domestic aviation market. The success of the UDAN scheme is a golden chapter in Indian civil aviation.' Modi said that today's India is more confident than ever, representing not just a vast market in the global aviation ecosystem but also a symbol of policy leadership, innovation, and inclusive development. He added that India is now emerging as a global leader in space-aviation convergence. 'India is not just an aviation market but a key player in the global aviation value chain, from design to delivery. Our policies and pace are aligned, and we are committed to continued progress. I urge all aviation companies to embrace Design In India along with Make In India,' he said. Modi further said that key strength of India's aviation sector is its inclusive growth model. Today, over 15 percent of pilots in India are women and it is three times the global average. While global female participation in cabin crew is around 70 percent, in India it stands at 86 percent. The number of women engineers in India's MRO sector is also growing faster than the global average, he added. UNI RBE SS
Entrepreneur
a day ago
- Business
- Entrepreneur
India's Aviation Progress Is On the Right Track: Prime Minister Narendra Modi
Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Addressing the 81st Annual General Meeting (AGM) of the International Air Transport Association (IATA) at Bharat Mandapam in New Delhi, Prime Minister Narendra Modi emphasized India's growing aviation progress powered by Make In India. In 10-15 years India's aviation industry has potential to evolve into a 10 billion dollar market by domestically manufacturing avionics, structural components and electronics. With 2,200 aircraft orders expected to reach India, there is unprecedented scope of growth in the sector. "Today, India is emerging as a global leader in space-aviation convergence. Go beyond manufacturing and invest in designing aircraft and components in India," Prime Minister Narendra Modi said, adding that infrastructure development is a key priority. "India is investing in world-class airports and the number of airports has increased to 162 from 74. This expansion reflects the government's broader push to enhance connectivity and support economic development." Underlining that consistent reforms have been a key driver of India's rapidly expanding aviation sector, the Prime Minister stressed on reinforcing India's focus on industrial growth, with the Protection of Interest in Aircraft Objects Bill, passed in Parliament this year. He remarked that this legislation opens new opportunities for global aircraft leasing companies in India. He also pointed to the incentives offered at Gift City, stating that these measures have made India an attractive destination for aircraft leasing. The emergence of Maintenance, Repair, and Overhaul (MRO) as a sunrise sector, is a step towards India's accelerating efforts to become a global hub for aircraft maintenance. He noted that in 2014, India had 96 MRO facilities, which has now increased to 154 while 100 percent FDI under the automatic route, GST reduction, and tax rationalization measures have given fresh momentum to India's MRO sector. Modi further outlined India's goal to establish a $4 billion MRO hub by 2030. Stressing that India should not be viewed merely as an aviation market but as a value-chain leader, the Prime Minister said, from design to delivery, India is becoming an integral part of the global aviation supply chain. He asserted that India's direction and pace are on the right track, expressing confidence in the nation's continued rapid progress. He highlighted that growth in the aviation sector translates to new flights, new jobs, and new possibilities, noting that the industry is creating expanding opportunities for pilots, crew members, engineers, and ground staff. India has become the third-largest domestic aviation market in the world. The UDAN scheme has powered the ambition of over 15 million passengers who have benefited from affordable air travel. The Prime Minister remarked that India's airlines continue to achieve double-digit growth, with 240 million passengers flying annually—surpassing the total population of most countries worldwide. He projected that by 2030, this number is expected to reach 500 million passengers. He noted that 3.5 million metric tons of cargo are transported by air annually in India and this volume is set to increase to 10 million metric tons by the end of this decade.
