Author: News Desk

A Rs 208 crore Integrated Cryogenic Engine Manufacturing Facility (ICMF) has been established here by Hindustan Aeronautics Limited to handle all rocket engine production for the Indian Space Research Organization under one roof. On Tuesday, President Droupadi Murmu will officially open the cutting-edge ICMF, which has been constructed over a 4,500 square metre space and houses over 70 high-tech tools and testing facilities for the production of cryogenic (CE20) and semi-cryogenic (SE2000) engines for Indian rockets. An MOU was signed with ISRO in 2013 for the establishment of a facility to produce cryogenic engine modules at HAL’s Aerospace Division. It…

The US-based tech company Salesforce plans to hire 2,500 more employees in the next two years, said Arundhati Bhattacharya, Chairperson and CEO of Salesforce India. Currently, the company employs more than 7,500 people in India. The target is to increase the Indian employee strength to more than 10,000 by January 2023-end. In April 2020, the company hired more than 2,500 employees. The company’s priorities will be banking, financial services and insurance (BFSI), manufacturing, services and social service sectors. The cloud-based services provider has offices in Mumbai, Hyderabad, Bengaluru, Pune, Gurugram and Jaipur. Bhattacharya also said that she expects to witness…

Volvo is considering expanding its certified car business across India by early 2024. Its pre-owned car business is globally operated under the ‘Selekt’ platform. In India, the platform was recently launched with two dealerships. According to the CRISIL-OLX Auto report, the pre-owned market is expected to grow at a compounded annual growth of 19.5 per cent until the financial year 2027. It will reach up to 8 million units, adds the report. Volvo expects to cash in on this trend by drawing about one-third of its volumes from this segment in the coming years. According to Jyoti Malhotra, MD, Volvo…

Although electric aircraft may seem far-fetched, they are now available, at least for short distances. Larger planes are on the way, and two-seater Velis Electros are now quietly circling Europe. In British Columbia, electric sea planes are also undergoing testing. On September 15, 2022, Air Canada announced that it would purchase 30 electric-hybrid regional aircraft from Heart Aerospace of Sweden. Heart Aerospace anticipates putting its 30-seat aircraft into service in 2028. The first 50–70 seat hybrid electric commuter plane could be available soon after, according to analysts at the U.S. National Renewable Energy Lab. They predict that electric aviation could…

Volvo India launches four new petrol mild-hybrid cars. They are its flagship SUV XC90, mid-size SUV XC60, compact SUV XC40, and luxury sedan S90. The new models come with a set of new features. With this, Volvo’s transition of its domestic car portfolio to Petrol mild-hybrids models has been completed. Volvo India is inching towards its goal of all-electric company by 2030. From 2023, Volvo will be launching a new electric car each year.

Ajmal Bismi seeks Initial Public Offering, MD, VA Ajmal He did not confirm reports of Reliance Retail acquiring Bismi, Kerala’s leading electronics and grocery retail chain. Bismi has 30 large stores in Kerala with a combination of electronic and hypermarket formats. Bismi is a retail chain owned by Businessman V.A. Ajmal. The company, which currently has a revenue of around Rs 800 crore, is working towards an IPO target of Rs 600 crore. Reliance acquired Sri Kannan departmental store in Tamil Nadu, Kalaniketan, a leading saree and ethnic wear retailer in South India, and Jayasuriyas Retail, a local grocery chain.

Shaktikanta Das, governor of the Reserve Bank of India (RBI), announced the UPI on RuPay credit cards and the UPI Lite for feature phones. He also declared that the Bharat Bill Pay System (BBPS) will support cross-border bill payments. Federal Bank and UAE’s Lulu Exchange will be the first to launch BBPS cross-border bill payments, while Punjab National Bank, Union Bank of India, and Indian Bank will be the first to launch UPI on RuPay credit cards via the Bhim app. UPI Lite is a “on-device wallet” designed to support offline transactions of lower sums, much like those available on…

Airtel and WhatsApp to launch ‘Airtel IQ Hackathon’, an opportunity for startups to build new-age business solutions. The programme aims to identify business solutions using the WhatsApp Business platform. The focus would be on five sectors of the economy – e-commerce, ed-tech, banking and financial services, travel and tourism, and contact centre operations. The startups will receive prizes worth up to Rs 1 crore along with business mentorship and learning modules on the WhatsApp business platform. Emerging Indian startups, Independent Software Vendors (ISV), and the student community can make use of this chance. The event will also provide winners with…

Tamil Nadu-based Uzhavarbhumi, established by Vetrivel Palani and Paneerselvam in 2018, is an end-to-end milk distribution platform for consumers and distributors. The startup stands for unadulterated milk. In Tamil, Uzhavarbumi means ‘the land of farmers.’ In the initial days, Vetrivel roamed around the villages looking for distributors. Initially, farmers denied his request. However, eventually, Vetrivel’s efforts brought results. Over time, Uzhavarbumi added more farmers, expanding its business.  The company procures milk from more than 2,400 cattle owners and brings it to its factory in Madurantakam, Tamil Nadu. The factory, which is spread over 55,000 sqft has two instant chillers and a processing plant spread across 15,000 sqft. The startup says mouth publicity played a crucial role…

Miami based Doroni is working on a way to “democratize flight”. Its proposed solution is the H1 personal eVTOL. The H1 is advertised as the “first sustainable, practical flying car”. It is a fully electric two-seater Flying Car. Has two sets of wings with large ducted fans ,a 500-pound payload, and wheels. The eVTOL is expected to have a range of 60 miles (96 km) per charge. The battery can be charged from 20 to 80 percent in about 20 minutes. It will also have a parachute for safety. The H1’s starting price will be $150,000.