News Analysis India

Tag: Tata Group

  • Apple Ecosystem One Of Leaders In Job Creation In Mobile Manufacturing: IT Minister Ashwini |

    New Delhi: As India becomes the second nation in the world in terms of mobile manufacturing, the Apple ecosystem is now one of the leading employment generators in the sector, Union Railways and IT Minister Ashwini Vaishnaw said on Tuesday.

    Mobile manufacturing has been a leading force in job creation in the last 10 years, as the government aims to make India a global manufacturing hub.

    “In the ecosystem of Apple alone, more than 1.5 lakh people have got employment and there is good amount of growth. In the future, you will see even more exponential growth because people have faith in Prime Minister Narendra Modi’s vision to make India a global manufacturing hub,” Ashwini Vaishnaw told IANS during an interaction.

    iPhone factories in the country are set to hire more than 10,000 people directly in the peak June-September period. Apple is doubling down on investing in India and is reportedly in advanced talks with Tata Group’s Titan Company and Murugappa Group to assemble sub-components for phone camera modules.

    Last year, Tata Group acquired Taiwanese electronics manufacturer Wistron’s India operations for $125 million. It is also reportedly eyeing to acquire Pegatron’s iPhone manufacturing facility near Chennai.

    Apple aims to manufacture more than 50 million iPhones in India per year, as it aims to shift some of the production out from China.

    The company’s increased investments in India come as the growth of mobile phone production in the country over a decade is being described as an unmatched success story in the manufacturing sector.

    The FY24 production of iPhones exceeded Rs 1 lakh crore, with 70 per cent exports and a total market value of Rs 1.6 lakh crore.

  • PM lays foundation stone of country’s first military transport aircraft manufacturing unit in Vadodara

    Express News Service

    VADODARA: In a major step, Prime Minister Narendra Modi on Sunday laid the foundation stone of the joint manufacturing facility of the Airbus and TATA Consortium of Tata Advanced Systems Limited (TASL) and Tata Consultancy Services (TCS) led by TASL here. 

    The facility will manufacture C-295 medium transport planes for the Indian Air Force, the first time that the C-295 aircraft will be manufactured outside of Europe and by a private company. The total cost of the project is Rs 21,935 crore. 

    The manufacturing unit will also cater for the export of the premier transport aircraft as well as for additional orders by the Indian Air Force.

    Calling it transformative, the Prime Minister said, “The transport aircraft that will be manufactured here will not only give power to our Armed forces but also develop a new ecosystem of manufacturing aircraft… Soon, India will witness the passenger aircraft that will be made with the tag of ‘Make In India’.”

    “Today, India is one of the fastest-developing aviation sectors. We are soon to enter the list of the top three nations in terms of air traffic. In the coming 10-15 years, India will require over 2000 passenger and cargo aircraft. This reflects how fast we’ll be developing.” PM Modi added.

    Over 100 MSMEs (Micro, Small and Medium Enterprises) spread over seven states will be linked to this project said Prime Minister Modi.

    Under the agreement, Airbus will deliver the first 16 aircraft in ‘fly-away’ condition from its final assembly line in Seville, Spain within four years and the subsequent 40 aircraft will be manufactured in India.

    The first 16 fly-away aircraft are scheduled to be received between September 2023 and August 2025.

    The first Made in India aircraft is expected in September 2026 and the remaining 39 will have to be produced by August 2031. Every year, a total of 8 aircraft will be produced at the facility.

    There are 34 other countries which operate the C-295 aircraft. Till date, more than 200 aircraft have been delivered.

    The approval of the Cabinet Committee on Security for the procurement of fifty-six C-295 MW transport aircraft from Airbus Defence and Space SA, Spain for the Indian Air Force was accorded in September 2021.

    The aircraft can be used for civilian purposes as well.  

    The foundation laying ceremony was attended by Defence Minister Rajnath Singh, Civil Aviation Minister Jyotiraditya Scindia and Gujarat Chief Minister Bhupendrabhai Patel among others.

    Speaking on the occasion, N Chandrasekaran, Chairman, Tata Sons said, “With the setting up of the Final Assembly line (FAL) in Vadodara, the Tata Group will now be able to take aluminium ingots at one end of the value stream and turn it into a C-295 aircraft for the IAF.”

    After the completion of the delivery of 56 aircraft to the IAF, Airbus Defence and Space will be allowed to sell the aircraft manufactured in India to civil operators and export to countries which are cleared by the Government of India.

    Defence Secretary Ajay Kumar three days back said the indigenous content in the plane will be the highest ever in India, and that 96 per cent of the work that Airbus does in Spain to produce the plane will be done at the manufacturing unit in Vadodara.

    Officials said the project offers a unique opportunity for the Indian private sector to enter into the technology-intensive and highly competitive aviation industry.

    (Photo | PTI)

    ALSO READ | Pact to set up Tata-Airbus aircraft project in Gujarat inked during MVA rule: Maharashtra minister

    The C-295MW aircraft has a 5-10 tonne capacity and possesses contemporary technology that will replace the ageing Avro aircraft of IAF.

    The aircraft has a rear ramp door for quick reaction and para-dropping of troops and cargo. The short take-off/land from semi-prepared surfaces is another of its features. 

    The aircraft has a maximum speed of 480 kmph.

    The aircraft will strengthen the logistic capabilities of the IAF. It can carry either 71 passengers or 44 fully equipped paratroopers or 24 stretchers.

    More than 13400 detail parts, 4600 sub-assemblies and all seven major component assemblies, including nose fuselage, outer wings, centre wing box, centre fuselage, rear fuselage, doors and empennage will be manufactured at this facility. 

    Final assembly work like integration of systems and assembly of aero systems of the C-295MW will also be carried out at the facility.

    IAF officials said the C-295 aircraft would be able to operate from Advanced Landing Grounds (ALGs) and even unprepared runways.

    All 56 aircraft will be fitted with an indigenous electronic warfare suite to be developed by the state-run Bharat Electronics Ltd and Bharat Dynamics Limited.

    The project is expected to generate 600 highly skilled jobs directly, over 3,000 indirect jobs and an additional 3,000 medium-skill employment opportunities with more than 42.5 lakh man-hours of work within the aerospace and defence sector.

    Nearly 240 engineers will be trained at the Airbus facility in Spain for the project.

    (With online desk inputs)

    VADODARA: In a major step, Prime Minister Narendra Modi on Sunday laid the foundation stone of the joint manufacturing facility of the Airbus and TATA Consortium of Tata Advanced Systems Limited (TASL) and Tata Consultancy Services (TCS) led by TASL here. 

    The facility will manufacture C-295 medium transport planes for the Indian Air Force, the first time that the C-295 aircraft will be manufactured outside of Europe and by a private company. The total cost of the project is Rs 21,935 crore. 

    The manufacturing unit will also cater for the export of the premier transport aircraft as well as for additional orders by the Indian Air Force.

    Calling it transformative, the Prime Minister said, “The transport aircraft that will be manufactured here will not only give power to our Armed forces but also develop a new ecosystem of manufacturing aircraft… Soon, India will witness the passenger aircraft that will be made with the tag of ‘Make In India’.”

    “Today, India is one of the fastest-developing aviation sectors. We are soon to enter the list of the top three nations in terms of air traffic. In the coming 10-15 years, India will require over 2000 passenger and cargo aircraft. This reflects how fast we’ll be developing.” PM Modi added.

    Over 100 MSMEs (Micro, Small and Medium Enterprises) spread over seven states will be linked to this project said Prime Minister Modi.

    Under the agreement, Airbus will deliver the first 16 aircraft in ‘fly-away’ condition from its final assembly line in Seville, Spain within four years and the subsequent 40 aircraft will be manufactured in India.

    The first 16 fly-away aircraft are scheduled to be received between September 2023 and August 2025.

    The first Made in India aircraft is expected in September 2026 and the remaining 39 will have to be produced by August 2031. Every year, a total of 8 aircraft will be produced at the facility.

    There are 34 other countries which operate the C-295 aircraft. Till date, more than 200 aircraft have been delivered.

    The approval of the Cabinet Committee on Security for the procurement of fifty-six C-295 MW transport aircraft from Airbus Defence and Space SA, Spain for the Indian Air Force was accorded in September 2021.

    The aircraft can be used for civilian purposes as well.  

    The foundation laying ceremony was attended by Defence Minister Rajnath Singh, Civil Aviation Minister Jyotiraditya Scindia and Gujarat Chief Minister Bhupendrabhai Patel among others.

    Speaking on the occasion, N Chandrasekaran, Chairman, Tata Sons said, “With the setting up of the Final Assembly line (FAL) in Vadodara, the Tata Group will now be able to take aluminium ingots at one end of the value stream and turn it into a C-295 aircraft for the IAF.”

    After the completion of the delivery of 56 aircraft to the IAF, Airbus Defence and Space will be allowed to sell the aircraft manufactured in India to civil operators and export to countries which are cleared by the Government of India.

    Defence Secretary Ajay Kumar three days back said the indigenous content in the plane will be the highest ever in India, and that 96 per cent of the work that Airbus does in Spain to produce the plane will be done at the manufacturing unit in Vadodara.

    Officials said the project offers a unique opportunity for the Indian private sector to enter into the technology-intensive and highly competitive aviation industry.

    (Photo | PTI)

    ALSO READ | Pact to set up Tata-Airbus aircraft project in Gujarat inked during MVA rule: Maharashtra minister

    The C-295MW aircraft has a 5-10 tonne capacity and possesses contemporary technology that will replace the ageing Avro aircraft of IAF.

    The aircraft has a rear ramp door for quick reaction and para-dropping of troops and cargo. The short take-off/land from semi-prepared surfaces is another of its features. 

    The aircraft has a maximum speed of 480 kmph.

    The aircraft will strengthen the logistic capabilities of the IAF. It can carry either 71 passengers or 44 fully equipped paratroopers or 24 stretchers.

    More than 13400 detail parts, 4600 sub-assemblies and all seven major component assemblies, including nose fuselage, outer wings, centre wing box, centre fuselage, rear fuselage, doors and empennage will be manufactured at this facility. 

    Final assembly work like integration of systems and assembly of aero systems of the C-295MW will also be carried out at the facility.

    IAF officials said the C-295 aircraft would be able to operate from Advanced Landing Grounds (ALGs) and even unprepared runways.

    All 56 aircraft will be fitted with an indigenous electronic warfare suite to be developed by the state-run Bharat Electronics Ltd and Bharat Dynamics Limited.

    The project is expected to generate 600 highly skilled jobs directly, over 3,000 indirect jobs and an additional 3,000 medium-skill employment opportunities with more than 42.5 lakh man-hours of work within the aerospace and defence sector.

    Nearly 240 engineers will be trained at the Airbus facility in Spain for the project.

    (With online desk inputs)

  • Cyrus Mistry death: PM Modi, Rahul, Supriya Sule express condolences over tycoon’s untimely demise

    By PTI

    NEW DELHI: Leaders cutting across the political spectrum condoled the demise of former Tata Sons chairman Cyrus Mistry on Sunday, with Prime Minister Narendra Modi saying his passing away is a big loss to the world of commerce and industry.

    Mistry was on Sunday killed in a road accident after his car hit a divider in Maharashtra’s Palghar district neighbouring Mumbai. He was 54.

    A Kasa police station officer said the accident occurred at Charoti Naka when Mistry’s car hit a road divider on the Surya river under the Kasa police station limits and dashed against the retention wall, killing him and another person on the spot.

    Cyrus Mistry: A reclusive scion who fought for honour after being fired by Tatas

    Here are key reactions to Mistry’s demise:

    – Prime Minister Narendra Modi: “The untimely demise of Shri Cyrus Mistry is shocking. He was a promising business leader who believed in India’s economic prowess. His passing away is a big loss to the world of commerce and industry. Condolences to his family and friends. May his soul rest in peace.”

    – Maharashtra Chief Minister Eknath Shinde: “Mistry was not just a successful industrialist, but a young and visionary entrepreneur as the business world looked up to him with hope. His death is a loss not just for the Mistry family, but for the entire business world,” Shinde said.

    – Former Congress president Rahul Gandhi: “Saddened by the tragic news of the demise of former chairman of Tata Sons, Cyrus Mistry. He was amongst the brightest business minds of the country, who made a significant contribution to India’s growth story. My heartfelt condolences to his family, friends and admirers.”

    – Delhi Deputy Chief Minister Manish Sisodia: “Saddened by the death of the former Tata Sons Chairman, Cyrus Mistry. With his untimely passing, India has lost a business visionary who still had so much left to contribute to India’s economic growth. My heartfelt condolences to his family. May his soul rest in Peace.”

    – The Vice President Secretariat quoting Jagdeep Dhankhar tweeted: “Deeply anguished by the sudden demise of Shri Cyrus Mistry in a car accident today. His death is a huge loss for India’s business community. My heartfelt condolences to the bereaved family members and friends. May his soul rest in peace.”

    – Commerce and Industry Minister Piyush Goyal: “Deeply anguished and shocked by the sudden passing away of Cyrus Mistry. Indian industry has lost one of its shining stars whose contributions to India’s economic progress will always be remembered. My heartfelt condolences to his family & friends.”

    – Congress leader Shashi Tharoor: “So shocked to hear of his untimely demise. My heart goes out to his loved ones.”

    – NCP chief Sharad Pawar: “He was a dynamic and brilliant entrepreneur. We lost one of the brightest star of Corporate World.”

    – NCP leader Supriya Sule: “His death is shocking for me. I have seen his elevation as the Tata Sons head as well as the subsequent turbulence. He and his wife had gone through a lot of struggle in the last four years. I still cannot believe that he has passed away. How many times do we have to talk about road safety? “I used to tease him for his simplicity and low-profile life. I had once gone to the Taj Hotel, which is a part of Tata Group, with Cyrus and my husband and surprisingly, the attendant did not recognise Cyrus at all. It is a personal loss for me and my husband Sadanand Sule.”

    – Girish Kuber, the editor of Marathi daily Loksatta and author of the book ‘Tatayan’ based on the Tata Group: “Mistry had a vision for industrial growth and was well known for his command over statistical data. The Mistry family had maximum holding in the Tata Group. Mistry had good intentions to reorganise the Tata Group’s finances and its structure. In Mistry’s death, we have lost a promising personality from the industry.”

    (With online desk inputs)

    NEW DELHI: Leaders cutting across the political spectrum condoled the demise of former Tata Sons chairman Cyrus Mistry on Sunday, with Prime Minister Narendra Modi saying his passing away is a big loss to the world of commerce and industry.

    Mistry was on Sunday killed in a road accident after his car hit a divider in Maharashtra’s Palghar district neighbouring Mumbai. He was 54.

    A Kasa police station officer said the accident occurred at Charoti Naka when Mistry’s car hit a road divider on the Surya river under the Kasa police station limits and dashed against the retention wall, killing him and another person on the spot.

    Cyrus Mistry: A reclusive scion who fought for honour after being fired by Tatas

    Here are key reactions to Mistry’s demise:

    – Prime Minister Narendra Modi: “The untimely demise of Shri Cyrus Mistry is shocking. He was a promising business leader who believed in India’s economic prowess. His passing away is a big loss to the world of commerce and industry. Condolences to his family and friends. May his soul rest in peace.”

    – Maharashtra Chief Minister Eknath Shinde: “Mistry was not just a successful industrialist, but a young and visionary entrepreneur as the business world looked up to him with hope. His death is a loss not just for the Mistry family, but for the entire business world,” Shinde said.

    – Former Congress president Rahul Gandhi: “Saddened by the tragic news of the demise of former chairman of Tata Sons, Cyrus Mistry. He was amongst the brightest business minds of the country, who made a significant contribution to India’s growth story. My heartfelt condolences to his family, friends and admirers.”

    – Delhi Deputy Chief Minister Manish Sisodia: “Saddened by the death of the former Tata Sons Chairman, Cyrus Mistry. With his untimely passing, India has lost a business visionary who still had so much left to contribute to India’s economic growth. My heartfelt condolences to his family. May his soul rest in Peace.”

    – The Vice President Secretariat quoting Jagdeep Dhankhar tweeted: “Deeply anguished by the sudden demise of Shri Cyrus Mistry in a car accident today. His death is a huge loss for India’s business community. My heartfelt condolences to the bereaved family members and friends. May his soul rest in peace.”

    – Commerce and Industry Minister Piyush Goyal: “Deeply anguished and shocked by the sudden passing away of Cyrus Mistry. Indian industry has lost one of its shining stars whose contributions to India’s economic progress will always be remembered. My heartfelt condolences to his family & friends.”

    – Congress leader Shashi Tharoor: “So shocked to hear of his untimely demise. My heart goes out to his loved ones.”

    – NCP chief Sharad Pawar: “He was a dynamic and brilliant entrepreneur. We lost one of the brightest star of Corporate World.”

    – NCP leader Supriya Sule: “His death is shocking for me. I have seen his elevation as the Tata Sons head as well as the subsequent turbulence. He and his wife had gone through a lot of struggle in the last four years. I still cannot believe that he has passed away. How many times do we have to talk about road safety? “I used to tease him for his simplicity and low-profile life. I had once gone to the Taj Hotel, which is a part of Tata Group, with Cyrus and my husband and surprisingly, the attendant did not recognise Cyrus at all. It is a personal loss for me and my husband Sadanand Sule.”

    – Girish Kuber, the editor of Marathi daily Loksatta and author of the book ‘Tatayan’ based on the Tata Group: “Mistry had a vision for industrial growth and was well known for his command over statistical data. The Mistry family had maximum holding in the Tata Group. Mistry had good intentions to reorganise the Tata Group’s finances and its structure. In Mistry’s death, we have lost a promising personality from the industry.”

    (With online desk inputs)

  • SC to hear review plea filed by Cyrus Investments in open court on March 9

    By PTI

    NEW DELHI: The Supreme Court has agreed to hear in open court a review plea filed by Cyrus Investments Limited against its order setting aside appellate tribunal NCLAT’s order which had restored Cyrus Mistry as the executive chairman of the Tata group.

    A three-judge bench of Chief Justice N V Ramana, Justice A S Bopanna, and Justice V Ramasubramanian said the petitions will be heard in open court on March 9.

    “Applications seeking exemption from filing affidavits are allowed. Applications seeking oral hearing of the Review Petitions are allowed. List the Review Petitions on Wednesday, March 9, 2022,” the bench said.

    Justice Ramasubramanian, however, in a minority dissenting verdict said the grounds raised in the Review Petitions do not fall within the parameters of a review. “With utmost respect, I regret my inability to agree with the order. I have carefully gone through the Review Petitions and I do not find any valid ground to review the judgement.”

    “The grounds raised in the Review Petitions do not fall within the parameters of a review and hence the applications seeking oral hearing deserve to be dismissed,” Justice Ramasubramanian said in an order dated February 15.

    The top court on March 26, 2021, had set aside a National Company Law Appellate Tribunal (NCLAT) order restoring Cyrus Mistry as the executive chairman of USD 100 billion salt-to-software conglomerates.

    The apex court had also dismissed a plea of Shapoorji Pallonji Group seeking separation of ownership interests in Tata Sons Pvt Ltd (TSPL).

    Mistry had succeeded Ratan Tata as the chairman of TSPL in 2012 but was ousted four years later.

    The SP Group had told the top court that Mistry’s removal as the chairman of TSPL at a board meeting held in October 2016 was akin to a “blood sport” and “ambush”, in complete violation of the principles of corporate governance and in pervasive violation of the Articles of Association in the process.

    The Tata Group had vehemently opposed the allegations and denied any wrongdoing, saying the board was well within its right to remove Mistry as the chairman.

  • New dawn for Air India: Civil Aviation Minister Jyotiraditya Scindia on airline’s sale to Tata Group

    By PTI

    NEW DELHI: Air India’s sale to the Tata Group marks a new dawn for the airline, Civil Aviation Minister Jyotiraditya Scindia said on Friday as he hoped that the carrier would continue to bring people closer through successful operations.

    Earlier in the day, the government announced that Talace Private Limited, a wholly-owned subsidiary of Tata Sons, has beaten a consortium led by SpiceJet promoter Ajay Singh by offering Rs 18,000 crore to win the bid to acquire debt-laden Air India.

    “Air India’s return to the Tata group marks a new dawn for the airline! My best wishes to the new management, and congratulations to DIPAM Secretary and the Civil Aviation Ministry for successfully concluding the difficult task of paving a new runway for the airline to take off!” Scindia wrote on Twitter.

    ​ALSO READ | Will take considerable effort to rebuild Air India: Ratan Tata

    “I hope the airline will continue to deliver on its mission of bringing people closer through its successful operations,” he added.

    The Tata Group’s bid of Rs 18,000 crore comprises taking over of Rs 15,300 crore of debt and paying the rest in cash, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said at a press briefing on Friday.

    DIPAM is the government department responsible for privatisation.

    ALSO READ | Tata Sons wins the bid for acquiring national carrier Air India

    Minister of State for Civil Aviation V K Singh also congratulated the Tata Group for winning the Air India bid.

    “Under new management, I sincerely hope that the Maharaja will continue to be an enduring Indian brand which stands for excellent quality.

    “Credit to the teams at the Civil Aviation Ministry and the DIPAM Secretary for their tireless efforts,” he wrote on Twitter.

    The Ajay Singh-led consortium’s bid stood at Rs 15,100 crore, comprising taking over debt of Rs 12,835 crore and paying the remaining amount of Rs 2,265 crore in cash.