- Thursday, April 25, 2024
By: Shubham Ghosh
Here are news in brief related to Indian economy and business for Wednesday, September 28, 2022:
Over 400 delegates, representing various industries from across India, participated in Odisha investors’ meet held in Bengaluru in the southern state of Karnataka on Wednesday, Asian News International reported. Welcoming a galaxy of potential investors at Bengaluru investors’ meet Odisha chief minister Naveen Patnaik gave a clarion call to the captains of industry saying, “Come, invest in Odisha and be our partner in ushering in a new industrial age in Odisha.” Emphasising the commitment of the State, he said Odisha is committed to provide an ecosystem for job linked industrial growth. If any state is providing X incentive for promotion of business opportunities, we will provide X plus. Our Government walks the talk, he added. The CM sought the participation of industry captains in the Make in Odisha Conclave to be held in Bhubaneswar from November 30 to December 4, 2022.
India is at present ranked 10th globally on ransomware attacks and small businesses (up to 500 employees) are at the highest risk, accounting for more than half of all attacks (54.7 per cent), a new report said on Wednesday, Indo-Asian News Service reported. In India, tech or information technology is the top industry hit by ransomware (23.40 per cent of all attacks), followed by the manufacturing (10.9 per cent), cyber-security firm NordLocker said. LockBit and Ragnar Locker were the most active ransomware gangs in India, it said. “Nearly 17 per cent of ransomware attacks in India attack businesses that have over Rs 80 billion in annual revenue. However, most often, ransomware in India targets companies with annual revenue between Rs 8-40 billion (41.5 per cent),” the findings said.
The Indian government has approved Rs 10,000 crore for the redevelopment of the New Delhi, Ahmedabad and Mumbai’s Chhatrapati Shivaji Maharaj Terminus railway stations, information and broadcasting minister Anurag Thakur said Wednesday, Press Trust of India reported. The decision was taken at a Cabinet meeting held on Wednesday. Briefing the media, railways minister Ashwini Vaishnaw said the design of these stations will be in tune with the cityscape so that it becomes an integral part of the city. As many as 199 stations with a footfall of 50 lakh (five million) per day are planned to be redeveloped in the first phase, he said. While the tender for 47 stations is out, work is underway at 32 stations, Vaishnaw said, adding the target is to complete the redevelopment of the New Delhi station in three-and-a-half years.
The Indian rupee weakened by 37 paise to hit a new all-time closing low of 81.90 against the US dollar on Wednesday as the greenback strengthened against major global currencies. At the interbank foreign exchange market, the Indian rupee slipped below the 82-level for the first time against the US dollar. The Indian rupee has weakened sharply in recent days largely due to a strengthening of the US dollar. For the record, the US Federal Reserve had raised the repo rate by 75 basis points — which is the third consecutive hike of the same magnitude, in line with expectations, which essentially means that investors will move towards the US markets for better and stable returns amid the monetary policy tightening. The Fed also hinted that more rate hikes were coming and that these rates would stay elevated until 2024.
Silicon Labs, the leader in secure, intelligent wireless technology for a more connected world, announced the official inauguration of its new office in Hyderabad, located at Salarpuria Sattva Knowledge City, ANI/NewsVoir reported. This will be Silicon Labs’ largest global centre for engineering and wireless connectivity innovation. With its expansion in Hyderabad, Silicon Labs can continue to grow its talented team developing cutting-edge IoT wireless products and solutions that are advancing industrial, commercial, and home and life applications. Unmatched in its breadth and depth of expertise in IoT technologies, Silicon Labs is well positioned to contribute to the growth of the Internet of Things (IoT) in India and around the world. The new office was inaugurated on Wednesday by Jayesh Ranjan, principal secretary of the industries & commerce (I&C) and information technology (IT) departments of the Telangana government; Matt Johnson, president, and CEO, Silicon Labs; Manish Kothari, senior vice president, Silicon Labs India; the Silicon Labs executive leadership team; and other eminent industry leaders.
GODI India, the first Indian company to get BIS certification to sell lithium-ion cells made with home grown technology, has now achieved another milestone by manufacturing India’s first ever 3000F high power supercapacitors at their Hyderabad facility, ANI/NewsVoir reported. Integration of GODI India’s supercapacitors along with battery packs would improve the battery life multi-folds in electric vehicle (EV) and renewable energy storage system (ESS) applications. Dr Milan Jana and Dr Pushpendra Singh are the brains behind the GODI India supercapacitor’s design, development and demonstration.
Mahesh Godi, founder and CEO of GODI India said, “GODI India is producing cost-effective and plant-based Carbon-Carbon supercapacitors using water-based electrode processing. We have a variety of supercapacitor products ranging up to 3000F. At present, we are in the process of developing high-voltage lithium-ion capacitors, as well. We are also working on hybrid capacitors with higher energy densities to replace Lead-Acid batteries in a wide range of applications. These capacitors are environmentally sustainable, green and clean, and highly recyclable.”
