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India economy & business news in brief for Sept 13: India president hails Global Biofuels Alliance under New Delhi’s leadership

Indian president Droupadi Murmu being received by Bhupendra Patel, chief minister of the western Indian state of Gujarat, on her arrival, in Ahmedabad on Tuesday, September 12, 2023. (ANI Photo)

By: Shubham Ghosh

HERE are news in brief on Indian economy and business for Wednesday, September 13, 2023:

Indian president Droupadi Murmu on Wednesday said the Global Biofuels Alliance launched during the recently concluded G20 summit in New Delhi is an important step taken under India’s leadership after the International Solar Alliance, noting that new and renewable sources will help in making the country self-reliant in the energy sector. She was addressing the Gujarat assembly in Gandhinagar in the western state of Gujarat after inaugurating its National e-Vidhan Application project. She said the entire world is experiencing the negative effects of climate change and global warming, mainly caused by the use of fossil fuels.

India’s Aeroflex Industries, known for its metal hoses in utilities, refineries, and fire-fighting equipment, is exploring entry into the aerospace sector, revealed a senior company executive, Reuters reported. The strategic move aligns with India’s expanding space programme, which recently achieved success with its lunar mission and launched its inaugural solar mission. Aeroflex’s managing director Asad Daud expressed the aspiration to contribute to India’s upcoming space endeavours. The company has initiated preliminary discussions with potential partners such as Hindustan Aeronautics Ltd, Bharat Heavy Electricals Ltd and the Indian Space Research Organisation.

After the successful conclusion in Mumbai, analytica Anacon India and India Lab Expo 2023 is all set to take place along with Pharma Pro&Pack Expo in Hyderabad, India’s pharma hub. This is the largest-ever edition of the event in the southern city and with this year’s theme, ‘Epicentre of Progress’, the event showcases solutions for the entire value chain, from research to end-of-line packaging. The triad event is well known to bring top international and home-grown machinery manufacturers, suppliers of analytical instruments and laboratory equipment, leading pharma companies, research laboratories, consultants, industry experts and key government officials under one roof to network and unlock business opportunities.

Indian auto component manufacturer Anand Group has partnered with South Korea’s HL Group to offer a comprehensive range of aftermarket components for passenger vehicles in both domestic and international markets. The collaboration has led to the formation of a joint venture called HL Anand Automotive Parts Pvt Ltd, which will establish two dedicated distribution centers over the next two years. The joint venture aims to introduce approximately 1,200 new stock keeping units (SKUs) in this period, doubling the size of Anand Group’s aftermarket business and enhancing the Korean company’s presence in India, the company said in a statement.

Citibank India based in Mumbai on Wednesday launched the work from home (WFH) option for its women employees for a period of up to one year at the end of their maternity leave of 26 weeks, it was reported. “On a need basis, a woman employee can request 3 months of work from home in the last trimester of pregnancy, subject to review and approvals,” Citibank India said in a press release. It added that this potentially provides a cumulative period of 21 months of working from home for expecting/new mothers. The bank in its statement said that this initiative is expected to widely benefit women by ensuring continuity of their careers with Citi.

Participation of women in the blue-collar industry has gone up by 35- 40 per cent post-pandemic, but the overall percentage of women in the blue-collar workforce is extremely low and stands still between 14-15 per cent, a report by Entitled Solutions said, the Hindu businessline said. The report also said factors such as domestic responsibilities, societal norms, physical safety concerns and disparities in digital and skill literacy primarily contribute to the gender gap. In India, women’s participation in blue-collar jobs has ranged between 10-15 per cent in recent times.

(With agencies inputs)

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