Automotive Current Affairs - 2019

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India launches third IT corridor in China

India has launched its third IT corridor in China. The corridor will facilitate partnerships between Indian and Chinese companies. National Association of Software and Services Companies (NASSCOM) entered into a partnership with China’s Xuzhou city from Jiangsu Province in China to help develop the IT corridor.

IT Corridor

  • IT corridor facilitates partnerships between Indian and Chinese companies by enabling Indian software and service industry associations to enter the Chinese market and seize the development opportunities in China.
  • The corridor facilitates will facilitate match-making between Indian companies wanting to collaborate with companies in China looking to adopt digital transformation from verticals such as manufacturing, retail, automotive, healthcare and utilities and help them create innovative product and solutions in the co-create mode.
  • The corridor will help create more jobs in China and India and facilitate talent transfer between the two countries.
  • The earlier two corridors launched at Dalian and Guiyang cities has brought to fore opportunities with over 300 companies where more than 10 Indian SME companies have signed deals worth 31 Million RMB (USD 4.5 million).
  • The first two corridors had enabled cooperation in co-create mode in the emerging technologies such as AI, IoT and Analytics in the Chinese market.

IT corridor project between India and China strengthens India-China Digital Cooperation by leveraging the respective strengths in hardware and software to build innovative products and solutions in Co-create mode.

Month: Categories: National

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GM to invest $1 bn in Talegaon by 2020, shuts down Halol plant in Gujarat

World’s second largest automaker General Motors (GM) has announced to invest USD 1 billion (6, 400 crore rupees) in India by 2020 and has decided to close its loss making plant at Halol, Gujarat. This announcement was part of its prior decision to invest over USD 5 billion in global markets like China, India, Brazil and Mexico.

On priority company to make investments to expand capacity of Talegaon Plant in Maharashtra from 1,30,000 to 2,20,000 units per year by 2025.

GM is India’s eighth largest carmaker that forayed in Indian auto market in 1996 and established its first plant at Halol, Gujarat. Second plant was established at Talegaon (Maharashtra) in 2010 and has invested USD 1 billion in India up till now.

GM decided to close its Halol facility by 2016 due to labour unrest and operational losses, which has a manufacturing capacity of 1,10,000 units per year. First labour strike to place in 2010 lasted for 3 days and second in 2011 that lasted for six weeks.

It should be noted that GM chose expansion of Talegaon facility due to its good infrastructure and favourable ecosystem for production and is also aiming to export 30 per cent by 2025.

Month: Categories: Business, Economy & Banking

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