Crompton Greaves, part of the $4-billion Avantha Group, has set up a low-voltage rotating machine plant in Goa. The new plant capacity has been set at 10,000 additional units per month. This represents a 66% capacity increase compared to the current production capacity, said a company statement.
According to Laurent Demortier, CEO and MD the facility, the plant will enable the company to focus better on European and US markets.
RINL pins hope on value additions for Orissa mine
State-run steel maker RINL on Wednesday said it will set up units for value-addition of iron ore if the Orissa government allots mines to it. "The Orissa government has decided to reserve all remaining area bearing iron ore for undertaking prospecting or mining operation through the Orissa Mining Corporation. It has also stated that the request of RINL for good iron ore blocks may not be considered," an RINL official said. Without any mine, RINL has to depend on another PSU NMDC for iron ore and face the consequences of the vagaries of the price of the raw material.
Jet Airways issues fare pass for frequent fliers
Naresh Goyal-promoted Jet Airways has introduced a One Fare Pass booklet for frequent fliers in the domestic market.
The booklet will have four coupons for travel in both business class and economy class on domestic flights with distance less than 750 km. The business class booklet costs R49,216. Two separate economy class booklets are also available for R19,606 for Jet Airways and R17,254 for Jet Konnect.
Wipro joins car connectivity consortium
Wipro Technologies said it has joined the Car Connectivity Consortium to develop smartphone-based connected-car solutions.
The CCC is a body dedicated to developing cross-industry collaboration global standards and solutions for smartphone and in-vehicle connectivity, the Bangalore-headquartered company said.
No plan to acquire any telecom player: SSTL
Sistema Shyam Teleservices said that it has no plans to acquire any telecom service provider and it will wait for the outcome of its curative petition filed before the Supreme Court. "From the perspective of SSTL, the immediate priority is to look at the outcome of the company's curative petition filed in the Supreme Court," the company said.
Visa, MyUS.Com tie up to facilitate buying
Visa Inc and MyUS.com on Wednesday said they have joined hands to facilitate purchases from US stores by overseas consumers. MyUS provides access to US stores for international customers through its personal shipping service. The partnership enables Visa cardholders to access deals and to pay with their card, a company release said.
Auto sector to grow by 6-7%: Tata Motors
Tata Motors said it expects automotive industry to grow at 6-7% rate this fiscal, against 9-10% in the last fiscal. Our estimate is that the market will grow at 6-7% compared to last year," Tata Motors vice-president for passenger car business Neeraj Garg said.
Pharma exports to touch $25 bn by 2015
Pharma exports by the end of 2014-15 are expected to reach $25 billion, Rajeev Kher, additional secretary at the ministry of commerce and Industry, said at South Asias largest pharmaceutical event CPhI and P-MEC India in Mumbai on Wednesday.
Green honours for Interface in London
Carpet tile manufacturer Interface has been named the most sustainable large corporate at this year's International Green Awards. The company also won the Grand Prix prize at the ceremony held in London, UK.