Kakinada, India: The oil and gas subsidiary of General Electric has been awarded a Frame Agreement by Oil and Natural Gas Corp (ONGC).
New Delhi, India: Toyota will launch more cars and ramp up volumes in India, the world’s fifth biggest car market. This reverses an earlier decision to freeze investment after the Supreme Court lifted an eight month ban on sale of large diesel vehicles in Delhi.
Delhi, India: ExxonMobil Lubricants has entered an official partnership with Micromatic Machine Tools to supply lubricants and other services.
New Delhi, India: The turnover of India’s auto component industry stood at US$39 billion for the period April 2015 to March 2016, registering a growth of 8.8 percent over the previous year and a CAGR of 6 percent over the last six years.
Mumbai, India: Boeing has revised its earlier prediction, expecting Indian airlines to order 1,850 new aircraft worth US$265 billion over the next 20 years. The aircraft manufacturer had earlier estimated that India would require 1,740 planes valued at US$240 billion over 20 years. This new figure revision is an increase of six percent.
India will become one of the top global steel consuming nations in the next 10 years if there is a sustained government spending on infrastructure like roads, railways, power and housing, according to India’s steel giant SAIL chairman P K Singh.
South Korea has overtaken China as the largest exporter of steel products to India in the first quarter of 2016-17, after trailing the latter for the last two fiscals, according to the Indian government.
Boeing has revised its earlier prediction, expecting Indian airlines to order 1,850 new aircraft worth US$265 billion over the next 20 years.
Germany-based ZF Friedrichshafen AG has plans for a bigger presence in India, focusing on the auto components business. The global auto parts maker is also looking to set up a research and development facility in the country.
Japan has reportedly offered to finance India’s first bullet train project between the western cities of Ahmedabad and Mumbai, a distance of 505km.
