Business Bureau

The Indian government has approved a proposal from Tata Electronics to build a mega semiconductor fabrication facility (“Fab”)  in Dholera, Gujarat, in collaboration with PSMC, a significant step towards creating an indigenous semiconductor ecosystem. The fab construction will begin this year with a total investment of up to INR91,000crores (~US$11bn) and will generate over 20,000 direct and indirect skilled jobs in the region. With this announcement, Tata Electronics enters the global semiconductor industry. Tata Electronics and Powerchip Semiconductor Manufacturing Corporation (PSMC) will build India's first AI-enabled manufacturing facility, capable of producing up to 50,000 wafers per month. The facility will…

The Indian government has approved Tata Electronics' proposal to establish a greenfield semiconductor assembly and test facility in Jagiroad, Assam, a significant step towards India's end-to-end semiconductor manufacturing ecosystem. The facility will be built with an investment outlay of INR 27,000 crore and is expected to generate over 27,000 direct and indirect jobs in the region. Tata ElectronicsPvt. Ltd. plans to build a facility focusing on Wire Bond, Flip Chip, and Integrated Systems Packaging (ISP) technologies, crucial for India's automotive, communications, and network infrastructure applications. The facility will serve growing global demands across key market segments like AI, industrial, and…

Mahindra Logistics Limited, a leading Indian logistics provider, is expanding its presence in West Bengal by opening a 1.1 lakh sq. ft. fulfillment center in Malda, West Bengal, focusing on last-mile deliveries and fulfillment. This centre is a critical part of Mahindra Logistics’ supply chain network and will execute efficient and timely deliveries through end-to-end fulfilment and distribution capabilities. Additionally, Mahindra Logistics is also adding 14 last-mile delivery stations, touching approximately 15,000 households daily. Mahindra Logistics has expanded its warehousing footprint in West Bengal to 3.3 lakh sq. ft, enhancing its presence across the country. The company offers full truck…

Medtronic, a global leader in medical technology, has inaugurated its expanded Medtronic Engineering and Innovation Center (MEIC) in Hyderabad. The center was inaugurated by Shri D. Sridhar Babu, Honorable Minister of IT, Industries & Commerce, Govt. of Telangana, and Geoff Martha, Chairman and CEO, in presence of US Consul General Jennifer Larson. Medtronic plans to expand its R&D center by investing over INR 3000cr (over $350M) over five years to scale up and employ 1500 people, aligning with its goal to expand its global R&D footprint and invest in local innovation ecosystems. MEIC is also Medtronic’s largest R&D center outside…

IBM announced that LTIMIndtree, a global technology consulting and digital solutions company, has joined the IBM Quantum Network to explore quantum computing innovation for the benefit of its global clientele across multiple industries. LTIMindtree is the first Indian Global System Integrator (GSI) to join the IBM Quantum Network. LTIMindtree expands on its platinum partner status with IBM, joins a global community of Fortune 500 companies, top universities, research labs, and startups as part of the IBM Quantum Network, accessing IBM resources, including cloud-based quantum computing systems, software, and expertise.  This move is a strategic step toward LTIMindtree helping their customers…

Samsung, India’s largest consumer electronics brand, announced the launch of a new storage variant, 6GB+128GB of Galaxy A15 5G at an attractive price of INR 16499. The addition of the new storage variant will give more choices to consumers looking to buy Galaxy A15 5G. The Galaxy A15 5G is now available in three memory variants: 6GB+128GB, 8GB+256GB, and 8GB+128GB. The 8GB+256GB variant is priced at INR 22499, the 8GB+128GB variant at INR 19499, and the 6GB+128GB variant at INR 17999. Customers can also avail bank cashback worth INR 1500 on the 6GB+128GB variant. The Galaxy A15 5G is equipped…

Bajaj Allianz Life Insurance Company, a prominent private life insurer in India, is undergoing a transformative journey to enhance its business parameters. The 9MFY2024 results showcase its outstanding performance vis-à-vis the other private players in the Indian life insurance industry. Bajaj Allianz Life Insurance's Individual Rated New Business (IRNB) for 9MFY2024 grew by 24%, nearly three times the industry average. The company's three-year CAGR of 39% in IRNB from FY 2020 to FY 2023 further demonstrates its strong growth trajectory as a private life insurer. The Company’s GWP stood at INR 14,860 Crores for 9M FY24, on the back of…

Nissan Motor Co., Ltd. has announced its plan to commercialize its autonomous-drive mobility services in Japan. Nissan's Nissan Ambition 2030 aims to improve mobility by addressing transportation service issues faced by local communities in Japan. Local communities have been facing several mobility challenges, such as driver shortages, which are a result of an ageing population. With this service, Nissan will provide a broad range of new services that enable free movement. Nissan has been conducting mobility service business models in Japan and abroad since 2017, focusing on Minato Mirai and Namie town, Fukushima Prefecture. Since 2021, Namie Smart Mobility operates…

Air India has launched 'Safety Mudras', an in-flight safety video that integrates safety instructions with the vibrant culture of India. The video captures the festive spirit and joy that Bihu brings to Assam, celebrating the cultural richness of the region. The safety video, composed by Grammy-winning Shankar Mahadevan, blends safety and culture, capturing India's essence in mesmerising locations. It will be accessible on Air India's A350 aircraft, equipped with advanced inflight entertainment screens, and will be gradually deployed on other aircraft in the fleet. Campbell Wilson, CEO & MD, Air India, stated, “Our guests will find this inflight safety video…

Toyota Kirloskar Motor (TKM) proudly continues its exciting partnership with the Indian Supercross Racing League (ISRL), showcasing the iconic Hilux being its official vehicle partner. The ISRL, India's first franchise-based supercross league, has been a success, with TKM's partnership with the iconic Hilux setting new standards for motorsports and automobile enthusiasts. The league's third leg, held at Open Ground in Bengaluru, saw over7,000+ fans participate, highlighting the growing popularity and significance of off-roading engagements in India. The final round, held on February 25th, 2024, transcended conventional racing boundaries and set new standards for motorsports in India. The ISRL's dirt bike…