JSW, Adani, Airtel Groups And Others To Make Huge Investments In Karnataka

* Global Investors' Meet to attract Rs 7L crore investment, bring over 3L jobs: CM 

* Bommai cited that if such a large-scale investment flows into Karnataka, it will become prosperous

The three-day 'Global Investors' Meet' (GIM) in Karnataka is likely to attract investment worth about Rs 7 lakh crore and generate over 3 lakh jobs, Karnataka Chief Minister Basavaraj Bommai said on Tuesday. The event will be hosted in Bengaluru from 2 November. 

"During the Investors meet that will begin in Bengaluru from tomorrow, Rs 7 lakh crore investment will flow into Karnataka, providing employment opportunities for over 3 lakh people in the next three to four years, in the private sector," Bommai said

Bommai cited that if such a large-scale investment flows into Karnataka, which is a progressive state, it will become prosperous. "With this farsightedness, we are working…," he said highlighting the importance of innovation and knowledge, and NITI Ayog giving Karnataka, the number one place in innovation.

" In the coming two years we will be filling up 2.5 lakh job vacancies in the government sector, and this year alone we have decided to give 1 lakh jobs, he added.

JSW Group Plans To Invest Rs 1 lakh Crore In Karnataka

* In his address to the inaugural function of ``Invest Karnataka 2022", the State's Global Investors' Meet (GIM) here, he also requested the state government to consider mineral auctions.

The JSW Group plans to invest Rs one lakh crore in Karnataka over the next five years, its Chairman Sajjan Jindal said on Wednesday.

In his address to the inaugural function of ``Invest Karnataka 2022", the State's Global Investors' Meet (GIM) here, he also requested the state government to consider mineral auctions.

Jindal said the Group has so far invested over Rs one lakh crore in Karnataka. "And over the next five years, we have plans to invest additional Rs one lakh crore in Karnataka".

The investment would head into expansion of its steel plant, and renewable energy and port infrastructure development space.

The Group's Ballari steel plant in Karnataka has grown to be the biggest in India and would soon become the biggest steel plant in the world, Jindal noted.

Urging the state government to consider mineral auctions, he said the move would further encourage investment in the manufacturing sector and support Karnataka's growth trajectory.

In this context, he praised the Odisha government for being the "most aggressive" State in auctioning "the mineral assets, the mines".

"When I speak for the evolution that is taking place in steel making, time is of essence. As minerals like iron ore will always be not needed for production of steel, hence, it's imperative that these assets are monetised at the earliest," Jindal said.

Adani Group To Invest Rs 1 Lakh Crore In Karnataka

The Adani Group has plans to invest almost Rs 1 lakh crore over the next seven years in Karnataka as it seeks to expand its footprint in multiple sectors, Adani Ports and SEZ Limited CEO Karan Gautam Adani said today.

He said having already invested over Rs 20,000 crore in Karnataka till now, the business group is active in multiple sectors in the state, ranging from cement, power, city piped gas and edible oil to transport, logistics and digital.

Adani was speaking at the inaugural function of the three-day 'Invest Karnataka 2022'-Global Investors Meet.

"When I combine all of the sectors that we will be investing (in) and we will be expanding in the state of Karnataka, we would be looking at almost Rs 1 lakh crore of investment in the next seven years," Adani said.

"As the world's largest solar power developer, Adani Group will be investing more in the renewable energy sector in Karnataka," he said.

The company has an installed cement manufacturing capacity of more than seven million tonne across four plants in Karnataka, and it will be looking at expanding its footprint in this sector as well, according to him.

Mangaluru International Airport (owned by Adani Airport Holdings, a subsidiary of Adani Group), is undergoing a facelift and "we will be expanding that airport as well", the CEO said.

Adani Wilmar is increasing its presence in the coastal Karnataka town of Mangaluru, he added. 

South Indian Bank Introduces “Remit Money Abroad” Feature In SIB Mirror + App

South Indian Bank has launched a new module in their Mobile Banking Application called “SIB Mirror+” to better facilitate the “remittances to” abroad in foreign currency. The Bank has enabled ‘Remit Money Abroad” through Mobile Banking on the Outward remittances front, ensuring savings on time, convenience and safety.

‘Remit Money Abroad ' facilitates Foreign Outward Remittance through the bank’s “SIB Mirror+” mobile banking application for its NRE and Resident Savings Bank Account customers. South Indian bank provides the same facility in its Internet Banking platform “SIBERNET” also for their Resident Savings Bank Account and NRE Savings Account customers. Customers can transfer foreign currency abroad without visiting the branch and with more convenience in a secure, fast and paperless manner.

Speaking on the launch, Thomas Joseph K, Executive Vice President & Group Business Head, South Indian Bank, said “This is a major milestone in the digital journey of South Indian Bank. Through this newly launched feature, our customer can now initiate foreign outward remittances in more than 100 currencies across the globe. We are certain that this new feature would make foreign remittances a smooth and seamless transaction for all our customers using the mobile platform.”

‘Remit Abroad Feature’ on Mirror +, enables customers to remit money for purposes such as family maintenance, gifting, education, emigration and travel. This feature helps customers to initiate outward remittance requests 24x7 in USD currency, while remittances in all other currencies can be initiated during market hours. Per day limit for resident customers is USD 10000 and in FY USD 25000, for NRI daily limit fixed at USD 25000 and FY limit is USD 100000, within the LRS limit.

About South Indian Bank

South Indian Bank is a leading Kerala-based Private sector bank with a nationwide presence. The bank’s shares are listed on The Stock Exchange Mumbai (BSE) and The National Stock Exchange of India Ltd., Mumbai (NSE). South Indian Bank has 926 branches, 1154 ATMs and 118 CDMs/CRMs across India and a representative office in Dubai, UAE. South Indian Bank is a pioneer in technology-based banking, offering an array of digital products and services. It has one of the youngest workforces in the banking sector in the country. The Bank’s Vision 2024 focuses on the 6 Cs -- capital, CASA, cost-to-income, competency building, customer focus, and compliance.

Yamaha Celebrates Milestone of 100 ‘Blue Square’ Outlets In Indian Market

~ Yamaha completes 100 Blue Square Showrooms, now active across PAN India ~

~ Launched under ‘The Call of the Blue’ Campaign, the Blue Square Outlets showcase Yamaha’s rich Racing DNA ~

~ Every Blue Square outlet showcases Yamaha’s Exclusive range of Premium two-wheelers, apparels & accessories ~

India Yamaha Motor (IYM) Pvt. Ltd. today announced the milestone achievement of setting up 100 Blue Square showrooms in India. The announcement comes in line with the company’s commitment to establish its entire 3S network under the Yamaha Blue theme and strengthen its retail footprint in the Indian market.

'The Call of the Blue' brand campaign was introduced in 2018. Under the umbrella of this campaign, in 2019 we introduced the concept of Blue Square showrooms to showcase the brand’s premium image.

Yamaha’s concept of a Blue Square Showroom is to provide a one stop solution to all the biking needs of a customer. Blue Square showrooms are designed to help customers realize and connect with Yamaha’s Racing DNA, while also enabling them to experience a sense of pride of being associated with a premium brand. The showrooms also serve as a platform for customers to be a part of the Blue Streaks rider community curated by Yamaha. Through this strong community of Yamaha enthusiasts, customers get to interact and ride with other like-minded riders.

Speaking on the occasion, Mr. Eishin Chihana, Chairman, Yamaha Motor India Group of Companies said, “It gives me great pleasure to announce that under ‘The Call of the Blue’ brand direction, Yamaha has successfully completed the milestone of 100 Blue Square showroom launches in India. Blue Square showrooms are Yamaha’s flagship range of dealerships dedicated to deliver the highest level of customer satisfaction and ownership experience. I am confident that these launches will further help us in showcasing Yamaha as a global brand with rich racing DNA. Setting up Blue Square showrooms across India, is a key part of our vision to create a benchmark in terms of sales, service, and customer satisfaction. We are aiming to accelerate the expansion of Blue Square outlets to serve every Yamaha customer in India. In the long run, this will ensure that riding enthusiasts get the distinguished experience they deserve from a globally renowned brand like Yamaha."

The Blue Square outlets also showcase an attractive display of Yamaha’s premium range of motorcycles and scooters, like the AEROX 155 and the YZF-R15M, along with the line-up of MotoGP Editions. Going forward, the company also plans to introduce its global product range, which will be sold exclusively through Blue Square showrooms.

Within India, Yamaha now has Blue Square showrooms operational in Tamil Nadu, Pondicherry, Karnataka, Telangana, Andhra Pradesh, Kerala, Jharkhand, West Bengal, Orissa, Assam, Chhattisgarh, Bihar, Madhya Pradesh, Maharashtra, Gujarat, Jammu & Kashmir, Delhi, Rajasthan, and other North-Eastern States.

Jaguar Land Rover, Wolfspeed, Inc. Partner To Supply Silicon Carbide Semiconductors For Next Generation Electric Vehicles

* Through its Reimagine strategy, Jaguar Land Rover is transforming to an electric-first business, on a journey to carbon net zero by 2039

* Strategic partnership with Wolfspeed will secure supply for Silicon Carbide semiconductor technology, integral to electrification of its next generation Range Rover, Discovery, Defender and Jaguar vehicles

* Next generation electric vehicle inverters using Silicon Carbide technology will deliver significantly increased powertrain efficiency and extended driving range for clients

* Strategic partnerships with industry leaders are a cornerstone of Jaguar Land Rover’s Reimagine strategy

* Wolfspeed’s Silicon Carbide semiconductors have been used in Jaguar TCS Racing Formula E team’s in-house developed powertrains since 2017

* Wolfspeed’s next generation Silicon Carbide semiconductors to be produced at the world’s largest fully automated 200mm Silicon Carbide facility in Marcy, New York

Jaguar Land Rover and Wolfspeed, Inc. have today announced a strategic partnership to supply Silicon Carbide semiconductors for next generation electric vehicles, delivering increased powertrain efficiency and extended driving range.  

Under its Reimagine strategy, Jaguar Land Rover is transforming to an electric-first business, to become carbon net zero across its supply chain, products, services, and operations by 2039.

Wolfspeed’s advanced Silicon Carbide technology will be used specifically in the vehicles’ inverter, managing the transfer of power from the battery to the electric motors. The first Range Rover vehicles with this advanced technology will be available from 2024, and the new all-electric Jaguar brand the following year.

The partnership builds on Wolfspeed’s existing relationship with the race-winning Jaguar TCS Racing team competing in the ABB FIA Formula E World Championship, where its advanced Silicon Carbide technology has been used to accelerate on-track efficiency and performance.

The agreement is the latest in Jaguar Land Rover’s program of establishing strategic partnerships with industry leaders for its future modern luxury vehicles: in February 2022, Jaguar Land Rover announced a partnership with NVIDIA focused on software-defined, advanced automated driving systems for next-generation vehicles starting in 2025.

Thierry Bolloré, Chief Executive Officer, Jaguar Land Rover, said: “We are not strangers having collaborated together with the Jaguar TCS Racing team for the last five seasons. By developing that into a strategic partnership as part of our Reimagine strategy, we can integrate Wolfspeed’s advanced Silicon Carbide technology into our next generation electric vehicles, delivering extended range and performance capabilities for our clients.”

Wolfspeed President and CEO, Gregg Lowe, said: “Wolfspeed is proud to partner with Jaguar Land Rover, supporting its bold commitment to electrify its iconic brands by using Silicon Carbide’s superior performance, efficiency and range. The energy efficiency of Silicon Carbide will play an essential role as Jaguar Land Rover pursues its own zero carbon goals, and as the world transitions to an all-electric transportation future.”

The partnership agreement sees Jaguar Land Rover participate in the Wolfspeed Assurance of Supply ProgramTM, to secure the supply of this technology for future electric vehicle production needs. This will enable greater visibility and control over Jaguar Land Rover’s future supply chain and is key to the new value chain approach of the company’s operations and supply chain under the leadership of Barbara Bergmeier, Executive Director of Industrial Operations.

Wolfspeed’s world leading technology is powering electric propulsion systems across the entire voltage spectrum – from 400V to 800V. The Silicon Carbide power device solutions will be produced at Wolfspeed’s Mohawk Valley Fab in Marcy, New York, which opened in April 2022 as the world’s largest 200mm Silicon Carbide fabrication facility. The fully automated facility dramatically expands capacity for Wolfspeed's Silicon Carbide technologies, which will supply the increasing demand for EV production and other advanced technology sectors around the world.

Toyota Kirloskar Motor Wholesales 13143 Units In October 2022

* Registers a growth of 56% in wholesales from April to October 2022 when compared to the corresponding period last year

TKM today announced that the company sold a total of 13,143 units in the month of October 2022. For reference, TKM had sold 12440 units in the month of October 2021. Cumulative wholesales in the current Financial Year from April to October 2022, has witnessed a promising growth of 56% when compared to the same period last year. TKM registered a growth of 6% in the month of October 2022, over wholesales in October 2021.

Commenting on the month’s performance, Mr. Atul Sood, Associate Vice President, Sales, and Strategic Marketing, TKM said, “Demand continues to grow as we witness strong bookings for the Self Charging Hybrid Electric Model - Urban Cruiser Hyryder. The brand-new SUV from Toyota has received a phenomenal response with booking orders exceeding our expectations. Deliveries of the brand-new Toyota SUV are also in full swing, as customers drive home their favourite Urban Cruiser Hyryder, this festive season.

Our flagship models like the Innova Crysta petrol, Fortuner, Legender, Camry and Vellfire continue to garner good traction both in terms of enquiries as well as orders. The cool new Full Model Change Glanza has also been consistently performing well since its introduction in April this year”, he concluded.

Hero MotoCorp Sells 4.54 Lakh Motorcycles & Scooters In October 2022

* Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, sold  454,582 units in October 2022.

With festivals of Dussehra and Diwali – which triggers record retail buying – occurring in the month of October this year, the dispatch sales of October are not comparable to the previous years, when the festival days are usually spread across the months of October and November.

During the 32-day festive season, which spanned from the first day of Navratras to the day after Bhai Dooj, the company posted a strong double-digit retail growth of 20% over the corresponding festive period of FY'22, thereby strengthening its leadership in the domestic two-wheeler market and increase in retail market share.  A strong festive has also helped reduce post festive total inventory to the lowest in the previous 5 years. This augurs well for growth in second half of the year.

To mark the beginning of this year’s festive season, Hero MotoCorp, launched the Hero GIFT- Grand Indian Festival of Trust. The initiative included exciting model refreshes, retail benefits, slew of financing schemes, pre-booking offers and much more.

Ushering in an era of sustainability and clean mobility, VIDA V1 – Powered by Hero – the new age fully- integrated electric vehicle (EV) made its debut in the month of October. Available in two variants – Vida V1 Plus and Vida V1 Pro, the new electric scooters are attractively priced at INR 145,000/- and INR 159,000/- respectively (*ex-showroom Delhi). The company also announced a holistic ecosystem for its customers along with VIDA V1 – VIDA services and VIDA platform.

In line with its aggressive plans for global expansion, the company partnered with Terrafirma Motors Corporation to make its debut in the Philippines. As part of the partnership, TMC will be the exclusive assembler and distributor of Hero MotoCorp motorcycles in Philippines. The Company will set up an assembly facility of 29,000 sq. mtrs in its existing state-of-the-art principal manufacturing facility situated in Laguna City and start its operations in the second half fiscal year 2024.

With all four riders finishing among the top 15, Hero MotoSports Team Rally completed both the Andalucia Rally 2022 and the first World Rally Raid Championship. The second stage of the Rallye du Maroc was challenging for the Hero MotoSports Team, however they were able to maintain their positions in the top 10.

ABB India Inaugurates Its First Smart Instrumentation Factory In Bangalore

•     ABB opens its smart instrumentation factory in Bangalore, India, for flexible mass production of measurement and analytical devices

•     Aligned with the ‘Make in India’ initiative, the factory will support local economy while producing a comprehensive range of measurement solutions for domestic and global consumption

•     The modular factory design allows the expansion of production capacities and new products in line with the market demand

ABB Measurement & Analytics recently opened its first smart instrumentation factory in Bangalore, India, to support the region’s ambition of transforming into a global design and manufacturing hub. Aligned with the local government’s ‘Make in India’ program aimed at supporting local economy, the factory is equipped with state-of-the-art manufacturing technology to meet the growing demand for instrumentation devices that enables more efficient and sustainable customer operations.

The new plant will manufacture field devices such as pressure and temperature transmitters, IP convertors and electromagnetic flowmeters for a wide variety of industries, including power, oil and gas, pharmaceutical, water and other segments. 

“We are pleased to support the local economy in line with ‘Make in India’ program with our new factory,” said Manish Dixit, Regional Sales & Service Manager South Asia, ABB Measurement & Analytics. “ABB’s smart instrumentation factory will cater to customers with speed and agility, leveraging leading digitalized manufacturing solutions, allowing flexible mass production to the highest standards.”

The new factory uses a unique digital production management system across all production lines and offers enhanced connectivity through ABB’s Manufacturing Execution System (MES), an IoT enabler, making processes seamless and paperless with complete cybersecurity. The factory also features innovative first-of-its kind automated welding, enabling significant improvement in productivity and superior quality. The modular production flow design increases flexibility and enables additional manufacturing capacities for the introduction of new products in line with future customer expectations.

In alignment with India’s manufacturing ambition, the factory will deliver best-in-class measurement solutions to local customers while fulfilling export demand with accreditation from the Directorate of Foreign Trade (DOFT).

ABB’s Process Automation business is a leader in automation, electrification and digitalization for the process and hybrid industries. We serve our customers with a broad portfolio of products, systems, and end-to-end solutions, including our # 1 distributed control system, software, and lifecycle services, industry-specific products as well as measurement and analytics, and marine offerings. As the global #2 in the market, we build on our deep domain expertise, diverse team and global footprint, and are dedicated to helping our customers increase competitiveness, improve their return on investment and run safe, smart, and sustainable operations. go.abb/processautomation

ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries. www.abb.com