Industrial News & Analysis Registered No. RNP/KA/BGS 2209/2023-2025. Posted at Bangalore PSO, Mysore Road, Bangalore - 26 on 3rd & 18th of Every Month English Fortnightly Vol : 10

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April 1 to 15, 2023

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SAMS Industrial Products Alluminum Extruded Profiles & Accessories

Anti Vibration Mounts & Leveling Bases

Control Panel Fittings & Accessories

Aluminium Profile Accessories

T-4, Shop # 7, Peenya Police Station Road, Opp. Ganapathi Temple, 4th Cross, 1st Stage Peenya, Bangalore - 560058, Mob: 9591792052, 8904005253 Ph : 080-42277127 Email: [email protected]

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Authorised Dealer: AQUA GREEN TRADING CO. # 92/2, # 5/1, Pipeline West, Kasturiba Nagar, Mysore Road, Bangalore - 560026 Ph: 080-26754644 Cell: 9880914646, 9980237863 Email: [email protected] Web: www.aquagreentrading.in

HOUSE OF HI TECH RUBBER AND ENGINEERING THERMOPLASTICS

Applications in MINI to GIANT NBR SILICONE FKM

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Automotive Industries Aviation Industries Construction Industries Food Industries Furniture Industries Hospital & Kitchen Equipment Industries Medium & Heavy Duty Industries # 261, 2nd Cross, 3rd Main, 4th Phase, Peenya Industrial Area, Bengaluru - 560 058 Email: [email protected] / [email protected] Cell: 988049557, 9036405384 Web: https://www.manjuwheeludyog.in

If undelivered, please return to: No. 329, "Nandana", Behind Sri Chaitanya Paduka Mandira, BHCS Layout, Thurahalli, Subramanyapura Post, BANGALORE - 560 061,

Industrial News & Analysis English Fortnightly | April 1 to 15, 2023

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: 9844578652 / 9148831530 / 9844578651 Round Mini Cylinders

Stockists in Pneumatic Cylinders Sensor Reed Switch

Compact Cylinders

Special Cylinders

Cylinders Mountings

Plot No. T4, Shop No.8, 1st Stage, Peenya Ind. Estate, 4th Cross, Peenya Police Station Main Road, Opp. KSSIDC, Bangalore-58. ( : 080 41615352 ( : 080 41628705 email : [email protected] Industrial News & Analysis

Authorised Dealers for:

English Fortnightly # 8, 6th Cross , Maruthi Building, Chokkasandra Main Roadd, Peenya T Dasarahalli, Bangalore -57 Email: [email protected] Cell: 9740395492, 9611666581 Web: www.svengineeringglobal.com

Editor & Publisher Arun Kumar Managing Editor K.A. Ramakrishna Murthy

Specialist in Sales & Servicing of Material Handling Equipments

Technical Writer / Reporter A.S. Madhusudhan Anoop A Bellavi Graphic Designer C.T. Venkataraju

Slip Ring Motors

Motors & AC Drives

Manager- Administration N. Ravi Kumar Manager -Commercials K.M. Ashok Kumar

Mfrs of: DC Motors & Spare Parts, Repair & Rewinding of AC & DC Motors, Alternators

Manager - Logistics Abdul Salam Manager - Sales H.M. Srinath Photographers Ramesh Babu L. Kumar, G. Shiva Kumar Acccounts Department

Mfrs of : Electrical and Mechanical Lab Equipments ( AC & DC)

S. Ravi Shankar K.M. Nalina Regd. Office : No. 329, "Nandana", Behind Sri Chaitanya Paduka Mandira, BHCS Layout, Thurahalli, Subramanyapura Post, Bangalore - 560 061 Ph: 080 - 41537659 Email:[email protected]

SL SYSTEMS # 704, Padmanabhaiah Building, Near S.R.S. Water Tank, Peenya, Bangalore-58

We are providing supply of spares and service of multibrand and also equipment sales.

Ph: 41171738 Cell: 9844295297 E-mail: [email protected]

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Industrial News & Analysis English Fortnightly | April 1 to 15, 2023

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Sri Sai Electricals

# V-31, 10th Cross, Peenya Industrial Area, Tigalarapalya, Main Road, (Near Bhatta’s Hotel) Bengaluru - 560 058

Ph: 40927669 Cell: 8722286960, 9945732432 Email: [email protected] Web: www.srisaielectricals.co.in

Authorised Dealers for IE2 & IE3 Motors

Crane Duty Motor

Inverter Duty Motor

Smoke Extraction Motor Foot Mounted Motor

Flange Motor

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# 56/2C, G.R. Lane, S.P. Road Cross, Bangalore-560002 Ph: 080-42156823, 42134672 Mob: Mr. Moiz 9686114672 Mr. Ammar 8431615251 GSTIN: 29ADPPD9048P1ZM E-mail: [email protected]

Website: www.airaqua.in

VFD Drives

Cast Iron Body Motors Flange Mounting FHP

AC Drives

IE2/IE3 Motors Standard Flame Proof Motors

Slip Ring Motors

Non-Sparking Motors

Single Phase Motors for any applications

Standard Motors

GEAR BOXES Planetary Gear Box

Dealers & Stockists for: ®

Helical Gear Box

Worm Gearbox

Auto Drain Valves

House of Hydraulic and Pneumatic Products

GAUTAM RAHUL SALES

# 10, Muneshwara Industrial Estate, Peenya 1st Stage, Bengaluru - 560 058 Ph: 080-28391293, 41171139

Cell: 6361231869 Email: [email protected] Web: www.gautamrahulsales.com Dealers and Stockists for: 'KI' PRESSURE & TEMPERATURE GAUGES, CAMOZZI, SMC, SHAVO, JANATICS, PNEUMAX, AIRMAX ELECTRO PNEUMATICS, DANFOSS, INDFOS & EURO PRESSURE SWITCHES, PILOT SPRAY GUNS, POLYHYDRON, YUKEN, REXROTH VALVES & SPARES, ELGI COMPRESSORS & SPARES.

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Pressure & Temperature Gauges

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Lubricating Systems

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Industrial News & Analysis English Fortnightly | April 1 to 15, 2023

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English Fortnightly | April 1 to 15, 2023

05

Bangalore North Small Scale Industries Association (BANSIA)

BANSIA Bhavan New Building Inaugurated supporting Associations since many years. He has contributed a lot towards the overall development of industrial area. Today what the development has done in Sadashivanagar, one can see the same development in Kamakshipalya Industrial Area. BANSIA President Bore Gowda welcomed the gathering and said without the support of V.Somanna, today BANSIA Bhavan would have not completed. He helped and contributed to build this BANSIA Bhavan. Today one can find a dropped pin on the road during

- Arun Kumar BENGALURU MSMEs are generating more employments next to Agriculture sector. MSMEs are contributing more for the development of the nation’s economy. With the new MSME policy, the State and the Central Governments provide amenities for the overall development of the Small Scale Industries, said Housing and Infrastructure Development Minister V. Somanna. He was speaking after inaugurating the new “BANSIA Bhavan” on March 24 at Pete Chennappa Industrial Area of Kamakshipalya, Bangalore, said that Small Scale Industries entrepreneurs are very kind hearted towards their workers and take care of them. At one point of time they were also workers. They toiled for many years and became owners. They know the difficulties of the workers. In Bangalore , the only two places where people get employment immediately is one hotel Industry

and the other is Small Scale Industry, Somanna added. Further he said that he has discharged his duties to provide basic amenities for the people in h i s c o n s t i t u e n c y. H e h a s contested for Legislative Assembly for 11 times. He lost twice and won 9 times. He has worked under 7 to 8 Chief

Ministers and three Prime Ministers. BANSIA and KASSIA members together have done good work. He wished them all the success in their future endeavors. He promised to complete the pending works at the earliest, Minister assured. In the State, especially in Bangalore most of the Small Scale industries are situated in the

Association in the year 1989. Association had the plot. For the construction of building the association approached Minister V. S o m a n n a , h e a g r e e d t o contribute after that construction has started, Boregowda said. It is a 1200 square feet plot with ground plus three floor building, which has got Skill Development Centre, Administrative Office, Meeting Hall and a Cafeteria at the top floor. Skill Development Centre has capacity to handle 60 trainees in a batch. It is a three months free

private industrial areas. If any entrepreneur ask for basic facilities such as Road, Street Light, Drinking Water etc., the elected representatives straightaway reject the demands, because in the industrial area numbers of voters are less. But today because of the interest of Minister Somanna.

Kamakshipalya Industrial Area has provided with all the basic amenities said KASSIA President K.N. Narasimha Murthy. He thanked the Minister for his support towards development of the Industrial Area. Ex-President of BANSIA and KASSIA R. Hanumanthe Gowda said that Minister V.Somanna is

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night time in Pete Chennappa Industrial Area because of bright Street Lights. CCTVs are also installed in Industrial Area. All these works done by V. Somanna. He thanked the minister for his contribution. A group of 20 to 25 industrialists at Kamakshipalya established the Bangalore North Small Scale Industries

training in various fields such as welding etc., Once the trainee completed his training, job will be provided by the Industries which were situated in Kamakshipalya. Any person who completed 5th Standard of education and aged above 18 years can join the free training class and get a job after successful completion of the training, Boregowda informed. BANSIA Past President H.N. Ramakrishnaiah proposed the vote of thanks. Building Committee President and BANSIA Treasurer G.S. Jai Kumar, BANSIA Past Presidents Anand G. Natekar and T.M. Vishwanath Reddy, Vice President P.N. Jai Kumar, General Secretary Shreyas Kumar Jain, Joint Secretary S. Krishnanada, Joint Treasurer M.N. Dhananjaya, members of BANSIA and many other Industrialists were present on the occasion.

Industrial News & Analysis

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English Fortnightly | April 1 to 15, 2023

06

Vasu re-elected President of MIA MYSURU A new team of office bearers have been elected to Mysore Industries' Association(MIA), with Former MLA Vasu being its president for the second term. The following were unanimously elected as office-bearers of Mysore Industries Association (MIA) for 2023-2025 at the biannual elections and AGM held on March 19 at the MIA. Former Mayor, P. Vishwanath Vice-President, Suresh Kumar Jain – General Secretary, N. Satish – Joint Secretary, Shree Shail Ramannavar – Treasurer. The Executive Committee Members are: G Sathish - Donthi Floor mills, M.V. Ritesh Gowda leefa Hygiene and Health Care, M.Harsha - Planet Friendly Enterprises, Gevaram Chamunda Industries, George Kumar - Star Engineering works, P. Kumar - Natural Ice Cream, U.S. Sadashiv - Manjunatha Industries. N. Lingarajegowda Mysore Precision Components.

Office Bearers for the Year 2023-25

Mr. Vasu President, Ex-MLA

Women Reserved Category - Smt Seema Tanveer - Lotus Gas Distributors were elected unanimously. Mr Vasu in his presidential address said that MSME'S faced tough period due to COVID 19 pandemic and Global economic slowdown. It is proud to mention in spite of these challenges Indian industries sustained with their enterprising culture.

Mr. P. Vishwanath Vice President MIA

Mr. Suresh Kumar Jain General Secretary MIA

MIA was recognized by Govt for the successful implementation of UNDP MSME help desk project during COVID 19 and now Ministry of skill development and Entrepreneurship approved Industry Apprentice Initiative STRIVE (Skill Strengthening for Industry value enhancement) project to Mysore industry Association with financial support of Rs. 1 Crore.

India needs $540 billion investment by 2029 to meet renewable targets: S&P India needs $540 billion of investment between 2020 and 2029 to meet its ambitious targets for electricity generation from renewable sources, S&P Global Ratings said on March 30 as it saw private-sector-led energy transition entering a new phase.

S&P Global Ratings said the addition of renewables capacity in India is outpacing coal, but demand growth and intermittency issues are leading to greater coal usage and new coal plants. “Policies are creating an enabling environment while private sector investments will

India is targeting to cut its emissions to net zero by 2070. In the transition to that, it is targeting 500 gigawatts (GW) of non-fossil electricity capacity, half of the energy from renewables, a reduction of emissions by one billion tonne and an emissions intensity of the GDP by 45% by 2030. “Meeting India’s renewables target of 500 GW by 2030 requires more than 40 GW of new capacity additions annually (compared to 10-15 GW actual),” it said. In its report ‘Asia-Pacific’s Different Pathways To Energy Transition’,

lead the energy transition,” it said, adding investments of $540 billion are required from 2020 to 2029 to meet India’s renewables target. Half of these investments will be in renewables and batteries, and another third in strengthening the grid. “Private sector will lead generation capex while public sector utilities will likely lead grid investments,” it said. “Domestic long-term bank funding is available against projects and cash flows.” There is, however, limited appetite for unsecured holding company funding.

NEW DELHI

India is the world’s fourth biggest emitter of carbon dioxide after China, the US and the EU. But its emissions per capita are much lower than other major world economies. India emitted 1.9 tonnes of CO2 per head of population in 2019, compared to 15.5 tonne for the US and 12.5 tonne for Russia that year. Net zero, or becoming carbon neutral, means not adding to the amount of greenhouse gases in the atmosphere. Energy transition refers to the shift from fossil-based systems of energy production and consumption - including oil, natural gas and coal - to renewable energy sources like wind and solar, as well as lithium-ion batteries. S&P said renewables face increasing intermittency issues, necessitating grid flexibility/ energy storage solutions. As much as 12.1 GW of energy storage is likely to be added from now till 2030 against a target of 27 GW of battery and 10 GW of pumped storage by 2030, it said, adding 20% tariff on Chinese batteries and subsidies for domestic production aim to develop the ecosystem. In the report, S&P said the countries of Asia-Pacific still have a long way to go before they can meet their ambitious energy targets.

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Mr. N. Sathish Joint Secretary MIA

Under this project nearly 500 youths will be provided Apprenticeship Training with skill Training, this will help both employees and employers in a big way. Tripartite agreement in this regard was already made with State and Union governments by Mysuru Industries’Association,Vasu added. Vice President P. Vishwanath said contribution of industries is notable for the economic strength

Mr. Shreeshail Ramannavar Treasurer

of the nation and unemployment eradication. We need only good infrastructure like Road, water and power by the Govt. Suresh Kumar Jain General Secretary said in the past MIA played a big role in down' ward tariff revision of water, Power charges and land price. Sathyendra O.D. election officer declared the results of bi annual election Sathish Joint secretary proposed vote of thanks.

Stainless steel demand likely to grow by 9% in next three years NEW DELHI Demands for stainless steel is projected to grow by an average around 9% annually in the next three financial years, which will be double the rate of 4.5% expansion recorded in the past five fiscals, CRISIL Ratings said. This sharp jump in demand will be driven by increasing adoption of stainless steel in railways a focus area for government infrastructure spending and rising application in the automobile and construction sectors. “Demand from railways is expected to more than triple by fiscal 2025 and constitute 20% of incremental demand for the metal over fiscals 2023-2025,” said Ankit Hakhu, Director, CRISIL Ratings. The amount earmarked for manufacturing railway coaches is doubled to Rs 47,500 crore for the financial year 2023-24 as compared with the previous year, as per the Union Budget 2023-24. Demand from other major sectors with application of stainless steel, including consumer goods (45% of demand) and process industry (25%), is also expected to grow at around 7-9% over the next 3-5 fiscals given higher consumer spends and recovery in consumption, the rating agency said. The demand growth, in turn, will spur capacity additions. There has not been any significant

investment in the past three years to boost supply of stainless steel in India. Given the projections for strong growth in demand, the stainless steel sector is expected to attract a good amount of capital expenditure (capex) in the coming years. Domestic manufacturers are undertaking capex to add 1 MT of steel melting capacity by fiscal 2024. The industry added 1.3 MT between fiscals 2009 and 2012, post which utilisation and profitability issues led to a phase of stress build-up.

Capex will be supported by two factors. First, balance sheets are strong as no material capacity expansion has taken place in the industry over the past few years. Second, cash accruals will remain healthy as operating margins are expected to be steady given the conversion nature of business and reducing share of high nickel stainless steel grades in the overall demand mix, said Ankush Tyagi, Associate Director, CRISIL Ratings. “This will result in lower dependence on debt,” Tyagi said.

Industrial News & Analysis English Fortnightly | April 1 to 15, 2023

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Chiller Plants

h i l e H VA C systems are responsible for regulating the comfort levels of most indoor environments, a chiller plant act as a centralized cooling system which provides cooling for a building or a number of buildings. Additionally, it provides a portion of the air conditioning by HVAC systems. According to the Energy Star website, around 39% of buildings which are more than 100,000 square feet in size have a chilledwater system. An industrial chiller is a refrigeration system used to lower the temperature of machinery, industrial spaces, and process fluids by removing heat from the system and transferring it elsewhere. Industrial chillers are essential for temperature regulation in several industrial processes, such as injection molding, metal plating, oilfield production, and food processing. According to the Department of Energy, 10-15% of the energy which is consumed by buildings are allocated for airconditioning. Even though condensing units are becoming more and more efficient with the introduction of newer technologies, it is still possible to save more energy by reducing the size of the plant along with improving the distribution systems. Ancient Romans were the first to apply cooling to indoor environments, though they did not

Calculating a chiller ’s efficiency is actually simple by measuring its CoP or Coefficient of Performance. Basically, it is the ratio between the chiller’s refrigeration effect and the amount of electrical energy required to produce it. These two units are measured in Kilowatts (kW). Let’s have an example: A chiller produces 3,000kW of cooling which is equivalent to 10,236,423 BTUs/h while requiring an electrical energy of 500kW to produce such an effect. The CoP can be calculated using this formula: Cooling effect / electrical energy requirement Thus, using the given formula, 3,000kW / 500 kW = 6. The Coefficient of Performance, in this case, is 6 which only means that for every 1kW of electrical energy used, 6kW of cooling is produced. Though chillers, or condensing units, are primary to air-conditioning function, chiller plants are composed of multiple pieces of mechanical equipment. Air cooled by the chillers circulates throughout the building via a distribution system. The distribution system consists of a fan to push the air and metal

use a centralized plant. Instead, they ran water through the walls of the buildings to reduce the ambient temperature. Early attempts at modern airconditioning began at the turn of the 19th century when people began to experiment with blowing air across cold surfaces using electric fans, but such systems were inefficient and costly. In 1922, Willis Carrier invented the centrifugal chiller, which made air-conditioning available to the broader public. Considering that chillers are among the largest consumers of energy in a building, it can have a massive impact on operational costs. Therefore, monitoring the chillers in a plant is important in order to know how efficient the system is.

ductwork to carry the air to its destination. Today, many chiller plants also include a variablespeed drive that can run multiple condensing units more efficiently than simply turning them on or off. Cooling towers are sometimes used to cool air before it enters the chiller so that the temperature differential is reduced. Chillers transfer heat away from a space that requires climate control much like a traditional split system or package unit does, but they use water (or a water solution) to do so instead of air. There are two types of chillers: water-cooled and air-cooled. They work similarly throughout most of the process until the refrigerant reaches the condenser. The cooling process begins when water enters the evaporator

- A S Madhusudhan from the primary return where heat is transferred from the water to the refrigerant. The now-chilled water is then sent to the water tank via the primary supply, where it is distributed to the various climatecontrolled spaces by the water pump. Because heat always moves from hot to cold as stated by the second law of thermodynamics, the chilled water absorbs the conditioned space’s ambient heat in the air handler. A fan then forces the cooled air into the space via the ductwork. The warmer water is then returned to the chiller to be cooled once again. In the meantime, the heat absorbed by the refrigerant in the evaporator needs to be transferred to allow the refrigerant to absorb more heat. The low-pressure, high-temperature refrigerant moves from the evaporator to the motor-run compressor, which increases the pressure and temperature. After that, the refrigerant enters the condenser. Watercooled chillers use water to surround the refrigerant pipes and draw in the heat. The water is then pumped into a cooling tower to release the heat. After condensing, the refrigerant goes through an expansion valve to reduce pressure (and temperature) before returning to the evaporator, where the process begins again. Though the efficiencies of condensing units are continuously improved, more energy can be saved by improving distribution systems and reducing overall plant size. A large degree of cooling is lost as air moves through the ductwork in a building. The faster and more efficiently air moves, the less cooling it looses. Moving air also looses pressure to leakage in the duct system, which requires fans to work harder to move air through the building. Since chiller plants are often referred to as the “heart” of an HVAC system in buildings, it is important to optimize them in order to achieve better performance. Aside from a chiller plant being the main cooling source, it uses a lot of a building’s energy needs, resulting in massive power costs. Chillers have several uses and are sometimes preferred over

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traditional split systems or package units because the water conducts heat better than air. This is also why water-cooled chillers are known for being more consistent and efficient in their performance and for having a longer lifespan than their aircooled counterparts. Watercooled chillers are common in medium and larger facilities (so long as they have an adequate water supply), such as airports, hospitals, hotels, shopping malls,

commercial buildings, and more. One of the real challenges of chiller plants is that a lot of them do not run at their designed temperature differential. This is the difference of temperature between the chilled water return (delta T) and the chilled water supply. Chiller plants running at less than optimal levels are actually common, and in most cases, they have a way lower delta T than what is necessary. This is caused by several factors such as the method used for controlling the equipment and the way the airside systems operate. Optimizing a chiller plant is made possible by starting with the chilled water pumps and chillers. The most efficient chiller plant arrangement used is the variableprimary chilled water system as it uses only a single set of pumps for distributing water throughout the building. Another efficient arrangement is primarysecondary which uses two sets of pumps for the chillers and building systems. It is of utmost importance to control the equipment such as the pumps, chillers, and cooling towers properly, especially when combined with a quality control system. A quality system allows coordination of all aspects of the system and grants access to the internal data of the chiller. Doing this allows data to be used as an input for creating an effective control program. By having a deep understanding of

07

how chiller operates, it is possible to control the chiller plant in the most effective manner possible. If not enough expertise is available to efficiently control the plant, hiring a reliable controls partner is the most ideal option to achieve optimization. Chillers use metal tubes (usually made of copper or carbon steel) to transfer water between the chiller and the climatecontrolled space. The simple presence of oxygen in water can cause corrosion, but if the water and pipes are treated properly, this can significantly reduce the risk. However, if the water treatment is inadequate, sediment, minerals, and bacteria can enter the system. If there is a buildup of sediment or

bacteria that causes oxygenation levels to differentiate, the metals can begin to corrode. In addition, any point where two different metals are used can be at risk for corrosion due to their different electrochemical properties. No matter how the corrosion occurs, it can cause leaks that will damage the chiller, reduce its efficiency, and possibly damage the area surrounding the chiller. These complex machines require a lot of maintenance to keep them in good working order. If proper steps aren’t taken, the chiller can corrode, clog, lose efficiency, or experience a number of other issues. An air-cooled chiller’s condenser can be blocked by debris or become caked in dirt, which also lowers efficiency. The electrical systems within a chiller are carefully designed and as complex as the rest of the machine. They can easily be thrown off balance by a high voltage surge or wear and tear. If there is a grounding issue or a power supply failure, the chiller may detect this and shut itself off. Overloading the chiller can cause it to overheat, which will likely result in failure. To d a y, m a n y s y s t e m s connect to centralized controls that can automatically adjust output to maintain the most efficient operations. Keeping mechanical units functioning at full capacity requires periodic maintenance, such as changing air filters or replacing belts and gaskets.

Industrial News & Analysis

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English Fortnightly | April 1 to 15, 2023

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India unveils ambitious advanced air mobility plan BENGALURU Poised on the cusp of aviation explosion, India is now looking at transitioning into electric vertical take-off and landing (eVTOL) advanced air mobility (AAM) operations to address its regional and urban mobility issues. "The eVTOL future is not as far as it seems - by 2025, this global dream will come true and India will be a pioneer…," Rajiv Bansal, Secretary, Ministry of C i v i l Av i a t i o n , d e c l a r e d , addressing a conference on advanced and short-haul air mobility here in Bengaluru. Presently India has 89 airports with commercial scheduled services, with 558 domestic routes in service. But according to a study presented by Darrell Swanson, co-founder of EA Maven and a former advisor at NASA, the country has the potential for 3900 domestic routes between these airports, only a fraction of which are currently served by traditional aviation. The report has identified 162 possible routes (up to 240 kilometers) for eVTOL and 2100 for Electric Short Take-Off and Landing (eSTOL) operations. While AAM supports the transportation of people and goods between various

geographic areas, Urban Air Mobility (UAM) is a subset of AAM and focuses on lower altitude operations within urban and suburban areas. Morgan Stanley has estimated that the global UAM market will grow 30% annually between 2021 and 2040, reaching $1.5 trillion by 2040. The demand for UAM in India arises from the need for solutions for urban congestion, lack of regional connectivity and quick adoption of e-commerce. As per a study conducted by Uber, the

Indian economy loses approximately Rs 1.44 trillion because of traffic congestion in its four major cities – Mumbai, Bengaluru, Kolkata, and Delhi. BLADE India, a joint venture between New Delhi-based investment fund - Hunch Ventures, and New York-based BLADE Urban Air Mobility, began its helicopter services in Karnataka recently to cut down travel time from Bengaluru International Airport to old HAL airport from two hours to 15

PAN-Aadhaar linking deadline extended to June 30 NEW DELHI The government on March 28 extended the deadline to link the Permanent Account Number (PAN) with Aadhaar by three months to June 30, 2023. PAN cards which are not linked with Aadhaar will become inoperative from 1st July. Do note that there is a Rs 1000 penalty applicable for linking PAN with Aadhaar. The last date for linking PAN with Aadhaar without penalty was March 31, 2022. As

per a notification issued by the Central Board of Direct Taxes (CBDT), PAN of taxpayers who fail to link it with their Aadhaar number will become inoperative from 1st July 2023. The failure to link PAN with Aadhaar by June 30 will attract certain repercussions. No refund shall be made against such PANs. Interest shall not be payable on such refund for the period during which PAN remains inoperative; and TDS (tax deducted at source) and TCS (tax collected at source)

FM asks PSU banks to do proper monitoring of loans NEW DELHI The finance ministry has asked public sector banks (PSBs) to do proper monitoring of top loans and make adequate provisions for pledged shares of big corporates in view of the current global financial scenario emanating from the failure of some international banks in the US and Europe.

According to sources, there is a need for integrating market data of pledged securities to trigger timely actions.

shall be deducted /collected at higher rates, according to a statement issued by the finance ministry. However, even after the June 30, 2023 deadline, the PAN can be made operative again in 30 days, upon intimation of Aadhaar to the prescribed authority after payment of Rs 1,000 fine. Some categories of individuals have been exempted from PANAadhaar linkage, and thus they will not be liable to the consequences. Besides, in the recent meeting with Finance Minister Nirmala Sitharaman, PSB chiefs were asked to manage overall exposure to corporate, including pledged shares. The ministry also emphasised that it would be prudent to increase stresstesting of large corporate loan accounts, the sources said. PSBs were also advised to focus on granular deposits against bulk and corporate deposits and desist from the discretionary pricing system. Last week, Sitharaman reviewed the PSBs on various financial health parameters and their resilience.

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minutes and is exploring options of moving to eVTOLs. “The plan sounds ambitious and India could be an early adopter in this market,” said Rishi Jain, Consultant, Jain Aviation Consultants. India has one of the largest EV markets globally, whose growth is marred by infra shortcomings. eVTOL pioneers hope to build the sectors in tandem with a vision to improve multimodal mobility, pointed out Patrick Buckles, Chief Revenue Officer, Beta Technologies, an aviation and aerospace OEM. eVTOL's infrastructure development may help solve the bigger transportation problems in India, he added. “Currently, there are more than 200 eVTOL-related projects around the world under different stages of design, development and testing,” PwC revealed in a report. India is still at an early stage as far as eVTOLs are considered, it added. Although some companies have developed eVTOL concepts, the lack of regulations specific to e V TO L s – i n c l u d i n g t h e i r certification scheme – is leading to the delayed inception of the technology. “The eVTOLs are treated at

par with commercial airlines when it comes to guidelines, clearances, safety regulations and policies. The stringent regulations in aviation also apply to urban air mobility," Amit Dutta, Managing Director, BLADE India, noted. EVA manufacturers are going through rigorous FFA clearance processes and even in India, this certification process will be timeconsuming, he added. Infrastructure was also identified as one of the leading challenges to UAM whether it is charging stations, vertiports (specialised structure that supports take-off and landing operations of eVTOL aircraft), air traffic management, or manufacturing units.The lack of realty to support vertiports is another roadblock. The aviation ministry is planning to commission a study on Indian domestic short-haul routes to understand different use cases with facts and figures, said Bansal. The aviation ministry is also looking at drones as a growth sector for AAM. The government will soon be announcing the first set of production-linked incentives for drones, Bansal said. He added that while 15 drone categories have already been certified, this number would go up to 50 this year.

SUN Mobility to power 50K Zomato electric two-wheelers NEW DELHI Electric vehicles energy infrastructure and services provider SUN Mobility on March 27 said it has entered into a partnership with online food delivery platform Zomato to power 50,000 electric twowheelers of the latter's fleet over the next two years. Under the partnership, SUN Mobility will provide its battery swap solutions for last-mile deliveries with the initial fleet deployment to start in the national capital. Through this association, the last-mile delivery partners onboarded on Zomato's platform will benefit from convenient and cost-effective battery-swapping solutions for their e-2Ws (electric two-wheelers), the company said in a statement. The association with Zomato is a significant step towards achieving SUN Mobility's goal to build a sustainable and environmentally friendly ecosystem, SUN Mobility CEO

Anant Badjatya said in a statement. "By deploying 50,000 electric two-wheelers in Zomato's fleet, we are reducing our carbon footprint by 5,000 MT/month and contributing to a cleaner environment," he added.

Zomato COO-Food Delivery Mohit Sardana said, "our associations in the past and now with SUN Mobility to swap batteries will accelerate the transition to EV-based deliveries." The two companies said their move is aligned with Zomato's commitment to 'The Climate Group's EV100 initiative that implies 100% EV adoption by 2030'

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Now, BESCOM to harness solar energy for irrigation pump sets BENGALURU In a big push towards the use of clean energy, Bangalore Electricity Supply Company (Bescom) will soon harness solar power to energise close to 2.6 lakh irrigation pump sets (IP sets) across the state. While this will ensure an uninterrupted power supply to the farmers, it will also bring down the electricity supply company’s dependence on conventional sources of power. The project is being taken up under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM–KUSUM) scheme. Agencies will be selected to set up grid-connected

distributed solar power plants at the substation level in Bescom jurisdiction.“We have done a

feasibility study and identified the areas where the project can be implemented. The agency will

Disinvestment of AI Engineering Services likely in 2023-2024

NEW DELHI The government is likely to complete the disinvestment of AI Engineering Services and AI Airport Services, engineering and ground handling units of the erstwhile national carrier Air India, in the financial year 2023-24, sources said. According to an official source, the disinvestment process of AI Engineering Services Limited is in an advanced stage. The proposal has already been approved by a group of secretaries and the next stage is the approval by the government’s alternative mechanism on strategic disinvestment. The alternative mechanism is essentially a group of

ministers empowered to take certain decisions on behalf of the cabinet. It consists of Finance Minister Nirmala Sitharaman, Road Transport and Highways Minister Nitin Gadkari and ministers representing respective administrative departments. In this case, Civil Aviation Minister Jyotiraditya Scindia is a part of the ministerial panel. The alternative mechanism is empowered to decide on the matters relating to terms and conditions of the sale. It will also take the call on the timing, price and other related issues as suggested by a group of secretaries. AI Engineering Services Limited is India’s largest aircraft

maintenance, repair and operations (MRO) company. After the approval from the alternative mechanism, expression of interest will be invited from the potential buyers. Rajiv Bansal, Secretary, Civil Aviation, last week said the government will invite expression of interest very soon. “Once this disinvestment goes through, hopefully, in a couple of months from now, this would augur well for the Indian aviation industry,” he said. The disinvestment process of AI Airport Services, which provides ground handling services at 105 airports across the country, is also in the advanced stage. Air India was sold to Tata Group in January 2022. The erstwhile national carrier had five subsidiaries – Air India Express, Air India Air Transport Services Ltd, Air India Engineering Services Ltd, Airline Allied Services Ltd, and Hotel Corporation of India Ltd. Along with Air India, Tata Group has also acquired Air India Express. However, the government keeps control over the other four units.

India will have 6G infra by 2029: Vaishnaw NEW DELHI The rollout of the fifthgeneration or 5G telecom service in India, which started in October last year, has been the fastest in the world and the country is likely to launch 6G network infrastructure by 2029, union minister Ashwini Vaishnaw said on March 16.

“We are laying the foundation for the future. 6G will come around 2029-30,” Vaishnaw said while addressing an event organised by PHD Chamber of Commerce and Industry. The 5G service in India was rolled out on October 1, 2022. It was simultaneously launched in 13 cities.

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have to search suitable locations within the three-km radius of our substation and set up solar plants,” a senior Bescom official explained. Once the plants are commissioned, the generators can get a 30% subsidy from the Ministry of New and Renewable Energy (MNRE). “ We h a v e a s s e s s e d t h e requirement across these areas over the last two years and we expect that solar plants will produce at least 1,086 MW of energy to meet the demands of the farmers,” another official said. In total, IP sets consume close to 24% of the energy sold by Bescom annually. While the project will ensure supply of quality power to IP sets, it will

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also bring down the financial burden on the energy department by reducing the subsidy to power the IP sets. Though there are close to nine lakh IP sets within the Bescom jurisdiction, hardly a few of them have been solarised under various government schemes. “From Surya Raitha to PM KUSUM Component A, there are a few schemes that the farmers can apply to. However, many of them are standalone projects and their implementation on the ground is low. At present, across the state, less than 10,000 IP sets run on solar power,” a Bescom officials said. Though the Central government floated the proposal to provide solar power to agricultural pump sets in 2019 and the MNRE issued the guidelines in 2020, Bescom, one of the nodal agencies in the state, was yet to implement the programme on the ground owing to technical obstacles.

Union government clears electronic manufacturing cluster at Hubballi-Dharwad Union Minister of State for Electronics and Information Technology Rajeev Chandrashekhar on March 24 announced the approval for setting up of electronic manufacturing cluster (EMC) in Hubballi-Dharwad, that is expected to attract Rs 1,500 crore investment and generate 18,000 jobs. While the minister mentioned this during an interaction with

pan-India Skill Hub registration portal in Bengaluru on March 24, to push skilling and training for students in government and private schools, colleges, central and state universities and higher education institutes. Under the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 4.0 scheme, an average training cost of Rs 7,423 per candidate will be paid in two tranches by the union government, the minister

mediapersons in Bengaluru, he, later in a tweet, shared a government statement that said the EMC project will cover an area of 224.5 acres at a cost of over Rs 179 crore, comprising central financial assistance of over Rs 89 crore. “Nine companies, including start-ups, have already committed to make investment of Rs 340 crore with employment potential of 2,500 people,” informed a press statement released by the government. Chandrasekhar, who is also the union minister of State for Skill Development and Entrepreneurship, launched the

told the media. Talking about skill mismatch and unemployment, the minister said, “Talent that is required is very different from talents we are giving out. A new approach to skilling is needed.” Over 18 lakh new jobs are created in the IT and engineering space, but due to lack of relevant skills, companies continue to hire employees from abroad, he explained. The minister also said the goal of this skilling initiative is to make 15 lakh candidates from Karnataka employable and industry-ready in the next 2.5 years.

BENGALURU

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How India is gearing up for more planes in its skies NEW DELHI From investing billions of dollars in new airports to i n d u c t i n g m o r e a i r t r a ff i c controllers, India is pulling out all the stops to improve its aviation infrastructure as it gears up to welcome the hundreds of new planes that its airlines have ordered. The world’s fastest-growing aviation market is expected to invest $12 billion and will have 220 airports by 2025, versus 148 currently, agencies reported, in a bid to ease the load on existing infrastructure. It will also appoint more regulators and open new flying schools, Civil Aviation Minister Jyotiraditya Scindia said at the CAPA India aviation summit on March 20. “Although government plans seem extremely ambitious and staggering, airport congestion is a reality today and widely criticised, despite the presence of seasoned private airport companies,” said Mark Martin, the CEO at aviation consultancy Martin Consulting LLC. All signs point to an urgent n e e d t o m a t c h I n d i a ’s infrastructure with the post-Covid travel boom. After Air India’s record deal for 470 planes from Airbus and Boeing, India’s largest airline IndiGo and newest player Akasa Air are expected to place

triple-digit orders by the end of the year. As of March 2023, Indian airlines had placed orders for over 1,200 aircraft, the Centre for Asia Pacific Aviation India said on March 20. While many welcomed the plans, they worried more about execution. “At present, there is no coordination across the industry. Each airline pursues its individual business, but relevant industry stakeholders have no idea what to prepare for in terms of requirements for parking bays, skills, air traffic controllers, security staff, aircraft inspectors, and other safety and regulatory functions,” CAPA India CEO and Director Kapil Kaul said on

March 20. “Without effective medium and long-term planning, strategic risks will increase.” Some such as Air India CEO Campbell Wilson looked at it differently. “Air India didn’t have a publically stated growth ambition plan in the past. Where was the evidence, and where was the aircraft? Why would airport owners invest?,” Wilson said. “There was no roadmap and no clarity on the principal customer strategy. Now that there’s clarity, there’s no doubt there will be interest from infrastructure providers.” Despite the pockets of optimism, there was no doubt that India needed to do more to

Foxconn wins AirPod order, plans $200 mln factory in India TAIPEI Ta i w a n e s e c o n t r a c t manufacturer Foxconn has won an order to make AirPods for Apple Inc and plans to build a factory in India to produce the wireless earphones, two people with direct knowledge of the matter said. The deal will see Foxconn, the w o r l d ’s l a r g e s t c o n t r a c t electronics maker and assembler of around 70% of all iPhones,

become an AirPod supplier for the first time and underlines efforts by the key Apple supplier to further diversify production away from China. AirPods are currently made by a range of Chinese suppliers. One source said Foxconn will invest more than $200 million in the new India AirPod plant in the southern Indian state of Telangana. It wasn’t immediately clear how much the AirPod order would be worth.

The person, who requested anonymity as the matter was not public yet, said Foxconn officials had debated internally for months about whether to assemble AirPods due to relatively lower profit margins on making the device, but ultimately opted to go ahead with the deal to “reinforce engagement” with Apple. “That way, we are more likely to get orders for their new products,” the person said. The decision to set up production in India was requested by Apple, according to the source. Foxconn vies with Taiwanese rivals such as Wistron Corp and Pegatron Corp to win more orders from Apple, the world’s most valuable company. A s u b s i d i a r y, F o x c o n n Interconnect Technology Ltd, plans to start construction of a manufacturing facility in Telangana in the second half of this year and begin production by the end of 2024 at the earliest, the person said.

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become a global aviation hub. “Airport developments take at least four years to fructify. The government needs to make tangible infrastructure changes right now that show results with passenger quality indexes and airport efficiency,” Martin added. One of the main problems airlines face is the congestion on airport runways. “It takes an average aircraft at least 30-45 minutes to depart because we don’t have adequate runways and taxiways for peak operations,” Martin said. Inadequate infrastructure leads to higher runway occupancy time (ROT), congestion, delay in

flights, passenger inconvenience, fatigue (in pilots), increased fuel wastage and carbon emissions, and overall cost to the airline operators. The lack of adequate bays for overnight parking of aircraft is also a serious issue. “ Wi t h s o m a n y a i r c r a f t coming in, the question arises where are you going to park them at night time?,” said Capt Sanjay Karve NM, the chief pilot and accountable manager for the Maharashtra government. Some also urged the government to plan for the long term. “Planning is the key, and now is the time,” Bharatforge’s former head of aviation, Capt. Sandeep Thakre, said, highlighting how the infrastructure should be built for the next 50 years, and not for three to five years. To be fair, some airports are doing better than the others to prepare for the future. For instance, Bangalore International Airport Ltd (BIAL) is relying on an independent parallel runway and associated taxiways to cater to over 80 air transport movements (ATMs) per hour by 2030, its chief strategy & development officer Satyaki Raghunath said. “This will allow us to handle over 575,000 ATMs and over 90 million passengers annually.”

Ferra, Dynamatic enter aerospace and defence tech tie-up BENGALURU Ferra Aerospace India on March 20 firmed up with Dynamatic Technologies Ltd a partnership to scale up capabilities in strategic aerospace manufacturing. Under the partnership, the Indian subsidiary of the Queensland, Australia-based Ferra Engineering and the Bengaluru-based Dynamatic are expected to enhance product integration, testing, technology development of airframe structures and precision aerospace components, representatives of the two companies said here. Speaking after the signing of the MoU, Cameron Dick, Treasurer and Minister for Trade and Investment for the state of Queensland, said the partnership is about two companies with a global footprint and different capabilities complementing each other, enabling them to work together as a more competitive unit. The MoU was signed by Managing Director and General

Manager of Ferra Aerospace Pvt Ltd Sridhar Chintha and CEO and Managing Director of Dynamatic Technologies Limited Udayant Malhoutra in the presence of Chief Executive Officer of Trade and Investment Queensland, Justin McGowan, and senior officials from the Queensland Government. Malhoutra pointed to the security needs and opportunities the two countries shared. “We can further boost defence manufacturing capabilities for a range of upcoming projects, including delivering against the new MoU with Dynamatic Technologies,” David Rogers, Group CFO – Ferra Engineering, said.

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Finance Bill with 64 changes passed in LS without debate NEW DELHI Lok Sabha on March 24 passed the Finance Bill, 2023 with 64 official amendments, including the removal of long-term tax benefits for debt mutual funds and providing relief to individuals earning marginally higher income than the no-tax ceiling of Rs 7 lakh under the new tax regime. With the removal of tax advantages of debt mutual funds, capital gains from such instruments will be treated as short-term capital gains, bringing it at par with other interest earning instruments like fixed deposits (FDs). Analysts said the removal of tax benefits would turn investors away from the mutual fund. “The amendment in the finance bill will have significant structural changes to the way we invest,” said

Srikanth Subramanian, CEO, Kotak Cherry. For mutual funds to get investor interest, it will now have to purely be on their ability to add extra “risk adjusted returns” and not because of any tax arbitrage.The tax arbitrage that

Govt pushes Airbus, Boeing to set up local jet assembly plants

was available at an “instrument” level seems to be getting evened out across the board be it debt mutual fund or market linked debentures. However, this will benefit the corporate bond market where there will be renewed interest

from retail investors, and this will also add depth to the liquidity which again will mean better pricing for the end customer, said S u b r a m a n i a n . C u r r e n t l y, investors in debt funds pay income tax on capital gains according to the income tax slab for a holding period of three years. After three years these funds pay either 20% with indexation benefits or 10% without indexation. After the amendment, such gains from transfer of units of specified mutual funds will be treated as short-term and taxed at slab rates. As per the tax proposals announced in the Union Budget 2023-24, taxpayers with an annual income of upto Rs 7 lakh would not be required to pay any tax if he/she opts for the new tax regime. Under the old proposals even Re 1 higher than Rs 7 lakh would attract tax

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liability of around Rs 25,000. As per the amendments introduced in the Finance Bill, 2023, the tax payable should not be more than the income that exceeds Rs 7 lakh. This means, if an individual’s income is Rs 7,01000, the tax liability will be Rs 1000. Individuals having income up to Rs 7,27,700 stands to benefit from the proposed relief. Other important amendments to the Finance Bill include a 25% hike in securities transaction tax and doubling of the royalties and fees from technical services earned by non-resident foreign firms. Securities transaction tax on the sale of options has been increased to 0.062% from 0.05%. The rate of tax on royalties and fees from technical services earned by non-resident foreign firms has been doubled to 20% from 10%. The Finance Bill, which contains tax related proposals, was passed in Lok Sabha without a discussion. The Bill was passed by voice vote, amidst sloganeering by opposition members for setting up a JPC in the Adani- Hindenburg issue.

Apple Inc supplier Pegatron in talks to open second India plant NEW DELHI

NEW DELHI Plane giants Airbus and Boeing face mounting pressure to set up jetliner plants in India, after the country's civil aviation minister said that the "time has come" to serve its soaring demand with jets assembled on domestic soil. Jyotiraditya Scindia said conditions were ripe for a "leap of faith" by both jet makers as India's fast-growing aeronautical industry reaches an "inflection point" - highlighted by plans to assemble Airbus C295 military transport planes locally in India. Asked whether Airbus and Boeing should now consider setting up jetliner assembly in India, Scindia said, "Absolutely, and with a capital A, and the reason why I said capital A is because Airbus has already made that huge landmark step: the C295." Airbus and Boeing have

both highlighted the scale and technology of existing investments in India, playing down the significance of final passenger jet assembly. An Airbus-Tata consortium plans to assemble 40 C295 planes in Gujarat, the home state of Prime Minister Narendra Modi who wants aerospace and defence to become a key engine for his "Make In India" drive to expand the world's fifth-largest economy. Tata-controlled Air India last month agreed record orders for 470 jetliners from Airbus and Boeing and sources have said India's largest airline, IndiGo, is in talks for another 500. "The market is there, the volume is there, the engineering talent is there. And then you take that leap of faith. So the time has come now," Scindia said in an interview, adding such decisions would not necessarily be tied to specific jet orders.

A p p l e I n c ’s Ta i w a n e s e supplier Pegatron Corp is in talks to open a second India factory, said two sources with direct knowledge of the matter, as the U.S. tech giant’s partners continue to diversify production away from China. Pegatron plans to add a second facility near the southern city of Chennai in Tamil Nadu state, just six months after opening the first with an investment of $150 million, said the sources, who sought anonymity as the talks are private. The new factory, the first source said, is “to assemble the latest iPhones”. Pegatron declined to comment but said, “Any acquisition of assets will be disclosed based on regulations.” Apple did not respond to a request for comment. India is seen as the next growth frontier for Apple. Around $9 billion worth of smartphones have been exported from India between April 2022 and February this year, and iPhones accounted for more than 50% of that, according to the India Cellular and Electronics Association. Pegatron currently accounts for 10% of Apple’s iPhone production in India on an

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annualised basis, research firm Counterpoint said. Apple and its key suppliers have been shifting production away from China as they seek to avoid a potential hit to business from mounting Sino-U.S. trade frictions. In recent years, Pegatron has sought to expand its footprint in Southeast Asia and North America. The talks for starting a second Pegatron facility on lease are ongoing and it will be located inside Mahindra World City near Chennai, just around where the company inaugurated the first plant in September 2022.

Pegatron’s planned investment outlay for the expansion is not immediately clear. The first source, however, said the new factory will be smaller than the first one. Apple Inc has bet big on the South Asian nation since it began iPhone assembly in the country in 2017 via Wistron and later Foxconn, in line with the Indian government’s push for local manufacturing. India is the second biggest smartphone market in the world, where Apple also plans to assemble iPad tablets and AirPods.

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Subsidy on public transport the way ahead

BENGALURU Subsidies on public transport are the way ahead and 50% concession should be provided to those using public transport, said Minister Dr Ashwath Narayan. Speaking at the session on Bengaluru development at the Nava Karnataka Summit, Narayan explained the initiatives taken by the government to reduce traffic congestion.

“Our government has taken up several projects to decongest the city. We have identified a number of high-density corridors and designed roads to decongest them. From Peripheral Ring Road to Satellite Township Ring Road, our government has taken up many infrastructure projects,” he said. He said public transport is also being improved. “From suburban railway to new metro lines, we are trying our best. We

English Fortnightly | April 1 to 15, 2023 are also strengthening BMTC,” he said. Narayan added that Bengaluru is a brand by itself and the government is showcasing its capability. “We will ensure Bengaluru gets enough funds,” he said. Vi n o d J a c o b , M D o f Namma Bengaluru Foundation, said Bengaluru had evolved into a Health Capital. “While the world was struggling to get through the Covid pandemic, Bengaluru was able to get through, owing to support by the citizens,” Jacob said. MLC Tejaswini Gowda said improving infrastructure in the city had helped Bengaluru attract investments. “From basic infrastructure such as water lines to ensuring safety and maintenance of law and order, our government has given the best. We h a v e a d o p t e d m o d e r n technology in processing waste. There might be flooding in a few areas. We are working towards improving infrastructure in such places,” she said. Chartered Accountant M o h a n Vi s h w a s a i d t h e government had put in numerous measures to prevent floods in many areas.

India working towards $42 trillion economy: Khuba BENGALURU India is heading towards becoming a $42 trillion economy by 2047 when the country celebrates its centenary of independence, Union Minister of State for Chemicals and Fertilizers, New and Renewable Energy Bhagwanth Khuba said on March 19. “By 2047, we want to be a $42 trillion economy. We’re working in that direction,” Khuba said. “If people of Karnataka and India make full use of their potential, then India can be number one or two economy. I’m fully confident about this going by the path we’ve taken,” he added. Pointing out that India’s economy remained stable in the post-Covid period, Khuba said, “The GDP of USA is at 4% and that of China is under 4%. India’s GDP is stable at 7%.” The minister said India which was earlier ranked 10th in economy size had jumped to 5th place. “The jump happened in just nine years with the cooperation of people and PM Modi’s decisive leadership,” Khuba said. The Bidar MP lamented that India couldn’t prosper for over 60 years despite potential. “In the last nine years, PM Modi managed to inspire confidence.

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CM to launch scheme for self-employment of youths on March 2023 BENGALURU Chief Minister Basavaraj Bommai will launch the Swami Vivekananda Yuvashakti Sangha scheme on March 23, aimed at providing self-employment to five lakh youth. Bommai, on March 19, chaired a meeting of senior officials and chief executive

officers (CEOs) of zilla panchayats (ZPs) to review the progress of the scheme. “There are 5,951 gram panchayats in the state and the finance department issued orders on March 8, to constitute two joint privilege committees in each village under the scheme,” a note from the CM’s office said. Bommai said women’s selfhelp groups have been active for the last so many years, but a selfemployment scheme has been formulated for the first time for youths. Hence, the CEOs of ZPs must prioritize this. The note added that as on March 18, a total of 6,509 joint privilege committees have been constituted, and another 5,393 committees are in the pipeline. “Already, Rs 10,000 has

been released to each of the 1,754 joint privilege committees. In total, Rs 1.75 crore has been released for the revolving fund,” the note said. The CM advised bankers to support the youths at the time of advancing loans to Yuvashakti groups. “The banks are free to give

loans of more than Rs 5 lakh fixed by the government, if the projects are profitable,” he said in the statement. It said that 100 model proposals are submitted to banks and they have given assent to 551 projects submitted for sanctioning loans. The chief minister said that the counsellors appointed to select projects must arrange for training by experts in the respective areas where the youths take up projects under the scheme. He emphasised that the counsellors’ work does not end with the formation of joint liability groups and distribution of revolving funds as they have to identify the groups, help them avail loans and guide them till production starts.

Belagavi to become drones & EVs hub BENGALURU Before that, under the government that was there for 10 years, people were disappointed and sad,” he said. The Modi administration has doubled down on infrastructure, Khuba said. “Before 2014, bad roads were the biggest impediments to development. Logistics cost was very high, which stunted the growth of the manufacturing sector. Today, the logistics cost has reduced significantly. Slowly, the manufacturing sector is growing,” he said. “Before 2014, there were

only 72 airports. The number doubled in just nine years. We’ll have 50 more airports in the coming years,” Khuba said. Khuba hailed CM Bommai for taking “good steps”. “Karnataka has worked shoulder-to-shoulder with the union government,” he said, pointing out that the state garnered investment proposals worth ₹10 lakh crore in the recent Invest Karnataka summit. “It shows the trust, confidence in the Karnataka government and ease of doing business,” he said. E - mail: [email protected]

Aspiring to turn Belagavi into a global hub for drones and electric vehicles (EVs), the Karnataka government is dedicating 500 acres to this sunrise segment. Stepping in that direction, the Karnataka Digital Economy Mission (KDEM) is looking to sign

up the first batch of investors on March 24. In an event christened DRoEV-2023, where KDEM will have 200 stakeholders, including industry leaders, policymakers, the research and development c o m m u n i t y, a n d s t a r t u p s , participating, the exercise of setting up a new tech hub will be initiated.

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English Fortnightly | April 1 to 15, 2023

Indian airports soon to handle 500m passengers a year: Bansal NEW DELHI Airports at the country’s major metros will be able to handle about 500 million passengers a year, in the coming years, the union civil aviation secretary, Rajiv Bansal projected on March 21. Speaking at the three-day CAPA India Aviation Summit 2023, the bureaucrat, underscoring the growth trajectory, insisted, ‘’There is no missing piece in the puzzle.’’ Explaining the math, he said that between its three terminals and a fourth runway in the making, Delhi will have the annual capacity to take on 100 million passengers. This, along with the ongoing expansion at Mumbai, Chennai, Kolkata and Bengaluru will make for 320 million passenger handling

capacity in the six metros. Adding to this, the airports coming up at Jewar in the National Capital Region and Navi Mumbai, that are expected to open by the end of this calendar, will enhance capacity to 500 million, he said. The challenges The man who served at the helm of Air India for a year and then again during the airline’s privatisation, pointed out, “We have always been behind the

curve, and now we are trying to build ahead of the curve.” He was referring to the identified gaps in airport infrastructure and capacity expansion. He also spoke of the supply chain challenges and the lack of Maintenance, Repair and Overhaul (MRO) facilities. “We talk about the large orders. Acquisition of the fleet will not sustain if we don’t have MROs in India,” he reiterated. Dwelling on the manpower shortage facing the Indian

India’s GDP growth expected to slow to 6% in 2023-24: CRISIL

NEW DELHI India’s economic growth is expected to slow to 6% in 202324, sharply lower than the estimated 7% expansion in the current financial year as the global environment has become “gloomier” due to stubbornly high inflation, rate hikes and geopolitical tensions, rating agency CRISIL said on March 16. Inflation is likely to moderate due to high-base effect but monetary tightening by the Reserve Bank of India (RBI) is estimated to impact economic expansion in the financial year beginning April 2023. The peak impact of the rate hikes – 250 basis points since May 2022, which has pushed interest rates above pre-Covid-19 levels — will play out in fiscal 2024, the rating agency said.

The Consumer Price Index (CPI)-based retail inflation is expected to moderate to an average 5% in 2023-24 from the estimated 6.8% the current fiscal, owing to high-base effect and some softening of crude and commodity prices. As per data released by the National Statistical Office (NSO) earlier this week, the headline retail inflation eased marginally to 6.44% in February as compared to 6.52% in the previous month but stayed above the RBI’s upper tolerance band of 6%.

“ I n d i a ’s m e d i u m - t e r m growth prospects are healthier. Over the next five fiscals, we expect GDP to grow at 6.8% annually, driven by capital and productivity increases,” said Amish Mehta, Managing Director and CEO of CRISIL Ltd. What is also good to see is the increasing sustainability footprint of capex. At present, nearly 9% of the infrastructure and industrial capex is green. We see this number rising to 15% by fiscal 2027, Mehta added. A good rabi harvest would help cool food inflation, while the slowing economy should moderate core inflation. The risks to inflation are tilted upward, given the ongoing h e a t w a v e a n d t h e Wo r l d Meteorological Organization’s prediction that an El Niño warming event is likely over the next couple of months, CRISIL noted in the report. India’s external vulnerability is expected to decline with a narrower current account deficit (CAD) and modest short term external debt, said Dharmakirti Joshi, chief economist, CRISIL. While CAD is expected to narrow to 2.4% of GDP ($88 billion) in 2023-24 from an estimated 3.0% ($100 billion) this fiscal, its financing may face challenges as foreign portfolio flows remain volatile and external commercial borrowings are less attractive, Joshi added.

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aviation industry, he noted, “We have demand, but no competency. So, for the first time, after many years, we are allowing FATA (Foreign Aircrew Temporary Authorisation) pilots for B777 to cater to the demand and supply mismatch.” Privatisation The Expression of Interest (EOI) for privatisation of Air India Engineering Services Ltd, the engineering arm of Air India, will be floated “very soon”, Bansal said, adding that it would benefit the MRO development in the country. Clearly a votary for privatisation, he said, “Had it (Air India) been in the government sector, it wouldn’t have been able to place such an order (470 aircraft order).” He also saw privatisation helping India tap into the under-penetrated mid and long-haul segments, particularly international travel. $1tn investment in FY24 CAPA India expects Indian aviation to see an investment of $1 trillion in the next financial year. This will include an addition of

14

over 4,000 aircraft to the Indian fleet (250 of them wide-bodied and 3,825 narrow-bodied), which cost will $175 billion. Among other investments, $67-77 billion will go into setting up brownfield and greenfield airports, CAPA estimated. International players ‘’Opportunities here (in India) are great,’’ observed Sir Tim Clark, President, Emirates Airlines, adding, “the country is really on the move.” The airline is looking to bring new products to the Indian market, he informed. He, interestingly, did not see too many full-service carriers (FSCs) coming into the market and heralded the low-cost carriers (LCCs) as the growing segment. Turkish Airlines is also courting the Indian market. “We are not getting enough (of the Indian market)... we are trying to expand. This is the time,” declared Bilal Eksi, the airline’s CEO, adding that they are looking for cooperation with more Indian carriers, having made a start with Indigo and also reaching out to Air India.

Apple seeks India labour reforms

A

pple Inc is seeking changes in India’s labour laws as part of its effort to expand local production, and regional governments are yielding to its request as they are eager to snatch iPhone assembly from China. India’s southern Tamil Nadu state, where Apple’s top supplier Foxconn Technology Group operates the nation’s largest iPhone plant, is considering passing new rules that will make factory shifts more flexible, people familiar with the matter said. Executives from Apple and the Indian Cellular and Electronics Association lobby group — which represents the US company as well its suppliers such as Foxconn, Pegatron Corp and Wistron Corp — met with state government officials over six months to push for the reforms, the people said, asking not to be named as the discussions were private. The planned changes would bring local working hours at par with the iPhone factories in China, they said. The moves are part of Apple’s effort to shift more production away from China to countries including India. Prime Minister Narendra Modi’s local

manufacturing push, financial incentives and India’s relatively cheaper labour have led Foxconn, Pegatron and Wistron to ramp up in the South Asian nation. Representatives for Apple, Foxconn and the Tamil Nadu government didn’t immediately respond to requests for comment. Pegatron and Wistron representatives declined to comment.

“India wants to have global brands like Apple make the country a home for manufacturing and research and development,” India’s Minister of State for technology Rajeev Chandrasekhar told Bloomberg News. The suggested changes include allowing more overtime and permitting factories to operate two shifts of 12 hours each, instead of the previous three shifts that each went on for eight hours. Courtesy: Bloomberg

Industrial News & Analysis

News

English Fortnightly | April 1 to 15, 2023

15

Ola seeks 800 acres in TN's Krishnagiri district for its vendors CHENNAI After pledging to invest Rs 7,600 crore over the next five years to expand its manufacturing unit in Pochampalli, home-grown Ola Electric has expressed its i n t e n t t o t h e Ta m i l N a d u government for acquiring 800 acres of land in Krishnagiri district for its vendors to set up shop. The Bengaluru-based electric vehicle (EV) manufacturer has also launched the process of taking on lease from the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) nearly 400 acres of land adjacent to its current plant for setting up a cell manufacturing unit and another unit to make fourwheelers, sources in the know said. The company, whose two-

wheeler sales have picked up in the past few months, had in February signed a Memorandum of Understanding (MoU) with the TN government to invest Rs 5,114 crores in the cell production unit, and Rs 2,500 crores to

m a n u f a c t u r e e l e c t r i c f o u rwheelers. Ola’s Future Factory in Pochampalli currently employs about 2,000 women and the company has said the fresh investment will bring jobs to another 3,000 people.

The cell manufacturing unit with a capacity of 20 GWh is likely to be the largest in the country. Mass production of lithiumion batteries, critical to electric two-wheelers, are expected to reduce the price of EVs making them affordable for all sections. With Hosur-KrishnagiriDharmapuri (HKD) region being projected as the EV hub by the Tamil Nadu government, Ola Electric wants its vendors also to be located close to its ‘Future Factory’. As the first step towards achieving this, Ola has informed the state government that it is looking at about 800 acres for its vendors in Krishnagiri district. “They might take on lease about 800 acres somewhere close to the current facility. Ola’s

vendors setting up shop close to its plant will be a huge boost for the fledgling industry as the region will not be a hub for manufacturing EVs but will possess the eco-system which will encourage others to follow suit,” a source in the know said. The second source explained that the 400 acres of land that Ola plans to take on lease is located adjacent to the Pochampalli factory. “The company was given 500 acres of land in Pochampalli in 2021 when they pledged an investment of about Rs 2,400 crores. While they have some vacant land, they have requested another 400 acres for expanding the unit. The process of acquiring the land for Ola Electric has begun,” the source said.

Accenture to cut 19,000 jobs India’s exports decline by 8.8% to $33.88bn in February BENGALURU

NEW DELHI India’s merchandise exports dipped by 8.8% year-on-year to $33.88 billion in February, recording contraction for the third straight month amid slowdown in global demands, as per the government data released on March 15. The country’s imports also declined during the month leading to further moderation in the trade deficit. India’s merchandise imports stood at $51.31 billion in February 2023, which is 8.21% lower when compared with $55.90 billion recorded in the

same month last year, the data released by the union ministry of commerce and industry showed. Trade deficit declined marginally to $17.43 billion in February as compared to $17.75 billion in January. Trade deficit is the lowest in one-and-a-half years. “The merchandise trade deficit dipped to an 18 month low in February 2023, benefiting from a dip in non-oil and non-gold imports,” said Aditi Nayar, chief economist, ICRA Ltd.

Encouragingly, there was a sequential uptick in non oil exports, and the pace of year-onyear contraction also narrowed in February 2023 relative to the previous month. “We expect the trade deficit to print in the range of $18-20 billion in the ongoing month (March),” Nayar said. Gold imports, which have a bearing on the current account deficit, declined by 44.92% to $2.63 billion in February 2023 as compared to $4.78 billion recorded in February 2022. Cumulatively, the merchandise exports have crossed the $400

billion mark in the first 11 months of the current financial year. India’s total exports in AprilFebruary period of the financial year 2022-23 rose to $405.94 billion, which is 7.55% higher when compared with the corresponding period of the last fiscal. The value of engineering items exported in the month of February declined by 9.68% yearon-year to $8.58 billion in February. Engineering goods

exports have seen a downward trend and recorded negative growth in seven out of the first 11 months of the current fiscal. “We expect to surpass the engineering exports of FY22 but stay behind the target for the current financial year,” said EEPC India Chairman Arun Kumar Garodia. Garodia further added, “collapse of two US banks and negative growth in some European markets could dampen market sentiment and further hit demand making 2023 a tough year for engineering goods manufacturers.” Merchandise imports for the period April-February 202223 jumped to $653.47 billion as against $549.96 billion recorded in the same period of the previous year. High imports have led to a sharp jump in the trade deficit. The country’s trade deficit widened to $247.52 billion in the first 11 months of the current financial year as compared to $172.53 billion recorded in the corresponding period of the last fiscal. India’s overall exports (merchandise and services combined) in April-February 2022-23 is estimated to exhibit a positive growth of 16.18% over the same period last year. “ A s I n d i a ’s d o m e s t i c demand has remained steady amidst the global slump, overall imports in April-February 202223 is estimated to exhibit a growth of 19.93% over the same period l a s t y e a r, ” C o m m e r c e a n d Industry Ministry said.

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Accenture on March 23 announced that it would cut 19,000 jobs - or about 2.5% of its workforce - over the next 18 months. This comes after McKinsey’s lay-off of 2,000 employees and KPMG’s 700. In its filing to the US Securities and Exchange Commission (SEC), the company said, “During the second quarter of fiscal 2023, we initiated actions to streamline our operations, transform our nonbillable corporate functions and consolidate our office space to reduce costs. We expect to record total business optimization costs of approximately $1.5 billion related to these actions, with approximately $800 million in fiscal 2023 and $700 million in fiscal 2024. This consists of approximately $1.2 billion of employee severance and other personnel costs.” According to an email sent to employees, that was seen by DH, the company stated, “Our data shows that we can operate with fewer Accenture leaders (our managing directors) in some parts of our business and still drive growth. These departures will be mostly completed by the end of fiscal year ‘23.” Elaborating on the other roles that are set to be

axed, it said, “We will transform our corporate functions through the expanded use of our SynOps platform and other data, AI and technology, the use of more costeffective locations and new ways of working.” The email added that this transformation accounts for about half of the company’s total departure and will take place over the next 18 months. The other cost pruning involves cutting down office space by 25% and balancing supply of skills below managing directors. The company spokesperson stated, “The people impact is estimated to be 2.5% of our current global workforce. This may differ by market and by country, as a consequence of our different footprint and growth, and should not be taken as a figure applicable to all geographies.” The person additionally informed that India has over three lakh employees. However, the lay-offs cannot be approximated based on the overall 2.5% quotient stated by the company as the impact will vary from country to country. Interestingly, the company said it is expecting strong growth of 8-10% in the current financial year, though it is much lower than the 26% growth it posted in the previous year.

Rs. 18/- PUBLISHING DATE: 01.04.2023 Regd. No. RNP/KA/BGS/2209/2023-2025 December 1 to 15, 2016 WPP No. PMG/BG/WPP/321/2023-2025 RNI: KARENG/2014/56321

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