This seed round was funded by Rishi Bagla, Chairman of Bagla Group and Olivier Guillaumond, Head of Global Innovation Labs and Fintech at ING Bank in the Netherlands.

Apna, India’s largest professional networking platform has signed an MoU with the Automotive Skill Development Council (ASDC) to provide career counselling and job opportunities to students and workers.

The Scrappage Policy announcement is in-line with the government vision to make scrap recycling an organised sector. Ministry of Mines has recently issued National Non-Ferrous Metal Scrap Recycling Framework, 2020 covering key non-ferrous metals like Aluminium, Copper, Zinc and Lead. The framework has been released with an objective to promote formal and well-organised recycling ecosystem, quite similar to the Scrappage Policy.

The Japanese tyre maker has raised the production capacity to 1.6 mn tyres per year in India from 0.7 mn tyres a year

Apart from Government’s MSMEs export reforms, very few provisions in the budget 2020 might help to bring industry out of the gloom.

Ather Energy, an electric vehicle manufacturer, has signed Memorandum of Understanding (MoU) for a 400,000 sq. ft. electric vehicle manufacturing facility with the Government of Tamil Nadu at the Investment and Skill Development Conclave in Chennai.

This MoU comes on the heels of a big push for electric two-wheelers by State & Central Governments with an updated FAME policy, GST reduction, and benefits for taxpayers on loans for electric two-wheeler purchase.

A closer look at India’s electric vehicles (EV) ecosystem shows that the sector is poised for 25 per cent increase in hiring in the next two years.

The Indian machine tool industry is currently estimated at around $ 2.3 billion (Rs 14,692 crores), of which the domestic production accounts for almost 50 per cent of the total consumption.