Manufacturing Current Affairs - 2019

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Sumit Mazumder elected as new President of CII for year 2015-16

Sumit Mazumder was elected as the President of Confederation of Indian Industry (CII) for the year 2015-16. He is Chairman & Managing Director (MD) of TIL Limited.

He will succeed Ajay Shriram, Chairman of DCM Shriram Consolidated Ltd.

Moreover, Shobana Kamineni was elected as Vice-President of CII for the year 2015-16. Presently, she is Executive Vice-Chairperson of Apollo Hospitals Enterprises Limited (AHEL).

Dr Naushad Forbes is the President-designate of CII for the year 2015-16. He is Director of Forbes Marshall.

About Sumit Mazumder

  • Mazumder is a graduate of St Xavier’s College, Calcutta and holds MBA from Sam Houston State University, US.
  • He also has undertaken the Advanced Management Program at Harvard University, Massachusetts, USA.
  • At present he is also the Executive Chairman of TIPL (Tractors India Pvt. Ltd.), distributor Company for Caterpillar.
  • In the past years, Mazumder was an active member of CII and had chaired its various Committees and Councils.
  • He also had served as President of the Bengal Chamber of Commerce & Industry, Director on the Board of West Bengal Industrial Development Corporation (WBIDC).

Month: Categories: Business, Economy & Banking


Union Government launches FAME-India scheme to boost electric, hybrid vehicle sales

Union Government on 1 April 2015 launched Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME) – India Scheme.

The scheme was launched as part of the National Mission for Electric Mobility to boost eco-friendly vehicles sales in the country.

Facts about FAME India scheme

  • Objective- to support the hybrid or electric vehicles market development and its manufacturing eco-system in the country in order to achieve self-sustenance in stipulated period.
  • The overall scheme is proposed to be implemented over a period next 6 years i.e. till 2020.
  • It envisages providing Rs 795 crore support till 2020 for the manufacturing and sale of electric and hybrid vehicles.
  • It also seeks to provide demand incentives to electric and hybrid vehicles from two-wheeler to buses.
  • Implementation- It will be implemented in phases. The Phase-1 will be implemented over a two year period in FY15-16 and FY16-17.
  • Based on the outcome and experience from the Phase-1, it will be reviewed for implementation after 31 March 2017. Then appropriate fund will be allocated for future.
  • Four focus areas of scheme- Technology development, Pilot Projects, Demand Creation and Charging Infrastructure.
  • In the first two years Rs 260 crore and Rs 535 crore will be spent on the focus areas.

The Department of Heavy Industries under the aegis of Union Ministry of Heavy Industries will be will be nodal department for the scheme.

Month: Categories: Science & Technology