This will be  the  first helicopter final assembly line  in India  to be set up by private sector  enterprises.  

 European aerospace  giant  Airbus and  Tata Group will build a final  helicopter  assembly line (FAL)  in India to produce the  manufacturer’s  best-selling H125 civil  helicopter this plane.  

 This will be  the  first helicopter final assembly line  in India  to be set up by private sector  enterprises.  The helicopters produced at  this plant,  which is expected to take about two years to  build,  will be for the Indian market as well as for export to  some of India’s neighboring countries.  

 “Under this partnership, Tata Advanced Systems Limited (TASL), a subsidiary of  the  Tata Group, will  install this  facility  with Airbus Helicopters,” Airbus said  on Friday when  announcing the deal. The announcement was made  during a  state visit  by  French President Emmanuel Macron. 

  Airbus and  Tata  Group  said the location of the proposed facility  would  be  decided  jointly  by the two partners, without  providing  further details on  possible locations  under consideration. The two  men  also did not provide financial details about the project. 

  “FAL  in India will undertake the integration of  major  assemblies, avionics and mission systems,  wiring harness installation, hydraulics,  flight controls, dynamic components, fuel  systems materials  and  engines.  It will also  conduct  testing,  qualification  and delivery of the H125 to customers in India and the region.  FAL  deployment  will take 24 months  and deliveries of the first  “made  in  India”  H125s are expected to  begin  in  2026,  Airbus said.  

 The proposed helicopter  factory  will be the second  FAL  aircraft  set up  in India by Airbus and TASL.  These  two  men  are  building an FAL in  Vadodara, Gujarat  to produce  C295 military transport aircraft. 

  “This  partnership  marks  an important  milestone in promoting indigenous manufacturing and will also give a major boost to our economy by creating  more  employment and  employment opportunities, solving unleash  the potential of the Indian aerospace  industry  and further  strengthen India-France  relations,” Civil  said.  Aviation Minister Jyotiraditya Scindia posted on X (formerly Twitter). 

  Airbus expects  H125 production in India to  “catalyze” helicopter  use  in the country. The company  hopes  the helicopter  will “revolutionize”  passenger and  cargo transport  in India,  as well as growing usage  segments  such as  emergency medical services, disaster management,  food  law enforcement,  travel, air missions  and even regional air connectivity. 

  “By providing last-mile  connectivity to remote areas, the H125 will  contribute  significantly  to the Government of  India’s  regional connectivity  programme, Ude  Desh ka Aam Naagrik  (UDAN), Airbus said.  will further promote  domestic tourism.”  

 Helicopter  usage  in India lags  behind  many other countries where  helicopters  are  commonly  used for a  variety  of purposes.  India’s large  population and  remarkable  economic growth make it an attractive potential market for increased  use of  civil  helicopters. 

 “The H125 is the  best-selling single-engine helicopter  in the world, outperforming  other helicopters in its  class.  This  versatile  and high-performance  helicopter is  part  of  the Airbus  Ecureuil family, which has accumulated more than 38 million flight hours worldwide. It can operate in  harsh  and  very hot  environments and can be easily reconfigured for  different missions  including aerial work, firefighting, law enforcement, rescue, air ambulance, passenger  transportation  and many  other tasks,”  Airbus said. 

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 The company, launched in December 2023, is India’s first AI  unicorn  and the fastest  to  achieve this  status.  

 In a significant development,  founder  Ola  Bhavish Aggarwal’s artificial intelligence (AI)  startup Krutrim  has become India’s first AI  unicorn  and the fastest  to  achieve this status .  The company achieved this by raising  a USD 50  million  (approximately  ₹415 crore)  equity  investment  at a valuation of  USD 1  billion  (approximately ₹1 billion). ₹ 8,300  crore),  has  successfully  closed  its first round of funding, Krutrim said in a statement.

  “Krutrim,” whose  name  means “artificial”  in Sanskrit, was founded  last  December. On the other hand, a “unicorn”  is a  privately held  startup valued at $1 billion or more.  

According to crunchbase.com, as many as 15 AI startups became unicorn in 2023. These are:

Unicorn–-Founded in–Headquarters–Most recent valuation–Funds raised till now

→Adept AI – 2022 -San Francisco- $1 billion-$415 million

→AI21 Labs-2017-Tel Aviv-$1.4 billion    $274 million

→Character.ai    2021    Menlo Park    $1 billion    $150 million

→Cohere    2019    Toronto    $2.2 billion    $435 million

→CoreWeave    2017    Roseland    $2.4 billion    $427 million

→DeepL    2009    Cologne    $1.1 billion    $100 million

→Helsing    2021    Berlin    $1.8 billion    $341 million

→Imbue    2021    San Francsico    $1 billion    $232 million

→Light Years Beyond    2023    Beijing    $1.2 billion    $280 million

→Replit    2016    San Francsico    $1.2 billion    $202 million

→Runway–2018–New York City–$1.5 billion    $237 million

→Quantexa–2016–London–$1.8 billion–    $370 million

→Synthesia–2017–London–$1 billion–$157 million

→Typeface–2022–San Francisco–$1 billion-$165 million

→Zhipu AI–2019–Beijing–$1.6 billion–$342 million

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 Kalpana Morparia not new to awards and recognitions, says, “when an industry association or a media houses give you an award you feel good about it because they recognise and value your contribution but when a country confers an award on you it is so very special.  

 “This is a truly special recognition,” says Kalpana Morparia on being conferred the Padma Shri. Describing it as an emotional moment and in some sense also very humbling, Morparia not new to awards and recognitions, says, “when an industry association or a media houses give you an award you feel good about it because they recognise and value your contribution but when a country confers an award on you it is so very special. This is because there is an emotional bond that you feel with your country and this is second only to the bond you feel with God.” 

 She attributes her contributions and role more to the abilities that were enabled because of the great “platforms” that she got associated with. “I feel fortunate and blessed to have got two great platforms – One was ICICI, which I joined in 1975 and when I retired in 2008, it was a completed changed country with the ICICI story, in many ways, mimicking India’s development journey. Our  goal was  initially  to finance Indian  industry,  then with  liberalization,  ICICI helped  establish  modern financial architecture in India whether it was  creating  Crisil,  joined  the National Stock Exchange as a promoter,  becoming  the first bank  in  Asia (outside  Japan). ) is listed  on the New York Stock  Exchange.  

  For her, the  other  foundation  was the opportunity she  had  at JP Morgan Chase,  “now  the most valuable bank in the  world,  and I spent 12 and a half years there. The JP Morgan platform  aims to take  India to the world and  take  the world to India and very few people get such an opportunity and  one should  not  miss the fact that she  has been able  to work with iconic leaders like “Jamie  Dimon”.  

 Morparia  is currently a board member of  four  companies:  Dr  Reddy’s,  Hindustan Unilever, HSBC Holdings and Phillips Morris International.  She  describes  all four  as great  learning platforms.  

 Referring to the Financial Express online article  in which GV  Prasad,  Co-Chairman  and  Managing Director of Dr. Reddy’s  spoke about  Morparia’s  contributions, she  said:  “I have  been with Dr. Reddy’s for  17 years  . People really talk to  me about my  contributions,  but I feel  honored to have  the  opportunity to work  with  and  learn  from  amazing people.  For example, you  also  talked  to Nachiket. He was  a  brilliant  student and a  top ranker at  IIM, Ahmedabad and I  always  felt that  I  learned  a lot from him  right from the start.  

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The global economy, as highlighted in the Circle Economy Foundation’s “Circularity Gap Report 2024,” is currently only 7.2 percent circular, indicating untapped economic potential in this transformative shift.

Sustainability to Transforming To A Circular 

Economy: Unleashing Economic Potential

Transforming to a circular economy: Unleashing economic potential

The global economy, as highlighted in the Circle Economy Foundation’s “Circularity Gap Report 2024,” is currently only 7.2 percent circular, indicating untapped economic potential in this transformative shift.

The shift from fossil fuels to renewables is essential, and a parallel focus on circularity is equally vital. 

The shift from fossil fuels to renewables is essential, and a parallel focus on circularity is equally vital. Managing materials sustainably reduces dependence on fragile supply chains, easing pressure on nature. The global economy, as highlighted in the Circle Economy Foundation’s “Circularity Gap Report 2024,” is currently only 7.2 percent circular, indicating untapped economic potential in this transformative shift.

Atte Jääskeläinen, president of the Finnish Innovation Fund Sitra, believes the next significant investment trend will be in circular solutions. Regulations play a crucial role in directing investments toward circularity for the sustainable development of societies, essential in combating overconsumption of natural resources.

The upcoming IRP report, “Global Resources Outlook 2024,” underscores the necessity of a circular economy. The use of new materials has grown by over 2.3 percent per year, and without urgent action, material resource extraction could rise by nearly 60 percent by 2060, from 100 to 160 billion tonnes.

Ivonne Bojoh, CEO of Circle Economy Foundation, emphasizes the room for wiser, circular solutions, especially in agrifood, mobility, and consumables, post-COP28 decisions. Reformation of finance and labor policies is crucial for lasting changes addressing the root causes of climate change and social inequity.

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 Air India currently has 117  aircraft  in operation  in its fleet, while its  subsidiary  Air India Express has 63  aircraft.  Under the new owners, Air India  was also  able to bring  90%  of its  long-decommissioned  aircraft  back into service.  

  Campbell, Chairman and Director, said  Air India  Group  plans to  launch an  aircraft  on average  every six days  throughout 2024, including five more Airbus A350 wide-body  aircraft  and 46 Boeing 737 and 17 Airbus A320 narrow-body  aircraft. of  Air  India. 

 Wilson said  in a message to  employees on Thursday  ahead of the second anniversary of the  carrier’s  return to the Tata  Group. In addition to  these 68  aircraft, which are part  of  Air India  Group’s huge  order  of 470 aircraft by 2023, 4  leased  wide-body  Boeing  777s  will also join the  airline’s  fleet.  

 Air India currently has 117  aircraft  in operation  in its fleet, while its  subsidiary  Air India Express has 63  aircraft.  Under the new owners, Air India  was also  able to bring  90%  of its  long-decommissioned  aircraft  back into service.  

  In addition to  fleet expansion, 2024 will also see Air India  undertake a complete refurbishment of  the  interiors  of 40  older  wide-body  aircraft, Boeing 777  and  787.  The  upgrade  will include complete replacement  All  seats and  interiors from the old wide-body fleet.  in-flight entertainment  system,  expected to  begin  in July, coinciding with  the start of international operations of  Air  India’s  first A350  aircraft.  The  plane begins  commercial operations this week,  initially flying  over  domestic  areas  for  several  months  to familiarize the crew.  Air India also plans to start  upgrading the interiors of  41 narrow-body A320 aircraft  this year.  “While  we still have a long way to go to  modernize our existing  fleet, improve  consistency, close remaining gaps and strengthen fragile processes, the future is now  clearer ,  more tangible  and  I  hope  more inspiring.  Despite – and  no doubt  partly  because  of – the remarkable  progress  we have  made in  just  two  years since privatisation, expectations  remain high and  so we  must continue  to  strive  to meet them,” Wilson said.  

 Over the past two years, Air India has  increased  its  existing  fleet by  leasing  36  aircraft, besides handling a whopping 470  aircraft  order with Airbus and Boeing.  The airline  added  5 national routes  and 11 international routes to its  network  and opened  5  new international stations.  The new  brand  identity  for  Air India and Air India Express  was  also launched last year.  Since  Air India returned to the Tata  Group  on January 27, 2022, the new owners have  focused  on  improving  the product offering, while  planning  to scale up  the airline. A five-year  roadmap – Vihaan.AI – has been  prepared with the  aim  of  significantly expanding  the  airline’s  network and fleet  to put  the airline  on a  “path of sustainable  growth,  profitability  and market  leadership”.  

  According to  data shared by Wilson with  employees,  Air India  recorded 249%  revenue growth over the past two years, while Air India  Express’s  revenue grew  148% during  the  same  period. Wilson did not  provide  further details on the  group’s financial situation.  

  “Considering  our starting point, the  scale  and scope of the transformation  we are  undertaking, our unprecedented  multi-operator  integration, our huge  aspirations for  growth and  innovation. product advancement as well as  our  capacity building  requirements, two years is an  extremely  short  period of  time.  frame. .  Indeed, we are not even 18 months into our  five-year  Vihaan.AI transformation program. But  despite this,  as the infographic shows, the progress made in  just  two  years is quite remarkable and is  a  testament to the commitment, energy and hard work of all Air  people Indian,”  Wilson said. 

  Tata  Group  is  consolidating its airline  businesses  by merging Air India and Vistara to  form a  full-service  airline  under the  brands  Air  India,  and Air India Express and AIX Connect (formerly  Air Asia  India) to create  a one-service airline.  under the  Air India brand.  Air India Express brand. While the operational integration of Air India Express and AIX Connect is complete, the merger of Air India and Vistara is expected  to take place  in 2025.

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 Rising attacks forced shippers to consider the longer route 

 Indian exporters have asked the central government to help facilitate more credit as freight rates have jumped nearly 300 per cent due to the disruption in the Red Sea route forcing global shipping lines to take longer trade routes, which is ultimately affecting exports of low value items such as Basmati rice. 

  Increasing attacks on ships sailing in the Red Sea region since November 2023 have forced shippers to consider the alternative, longer route past the Cape of Good Hope, which has not only stretched delivery time by 15 to 20 days, but also increased the transit cost substantially because of incremental freight rates and insurance premium. 

  Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai told The Indian Express that freight costs have surged by 300 per cent as global shipping lines are taking the Cape of Good Hope route, which is why exporters have sought more credit to match the rising cost of shipments to Europe.

  Meanwhile, ratings agency Crisil on Thursday said that players operating in sectors such as agricultural commodities and marine foods could see a significant impact due to the perishable nature of their goods or lean margin profiles, which limit their ability to absorb the risks from rising freight cost. 

  “Not all sectors are expected to be impacted to the same extent. In fact, for agricultural  products  like Basmati rice (30-35% of production is shipped to these regions), exporters are feeling the pressure as rising  transportation costs have reduced exports.  exports and  part of their inventory is now  sold  on  the domestic  market.  leading to  censorship of achievements,”  the report said.  

 Indian companies use the Red Sea route  via  the Suez Canal to trade with Europe, North America, North  Africa  and parts of  West  Asia. Crisil said  these regions accounted for 50 per cent of  India’s  exports worth Rs 18  billion  and 30 per cent of  its  imports worth Rs 17  billion in the  last  financial year.  

 “Marine foods  – mainly  shrimp  – could also  be significantly impacted  as  80 to 90%  of  production is exported, more than half of  which via  the Red Sea.  The  perishable nature and  low  margins  leave  exporters vulnerable to rising  shipping costs  and competitive pressure from Latin American suppliers,” the report added.  The Indian Express had earlier reported that the  Ministry of Finance  is  scheduled  to hold a high-level meeting on February 5 to ensure smooth trade payments amid challenges  stemming  from  regional disruptions.  Red Sea  area.  

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 RBI has  agreed  to  let  LIC  buy 9.99%  stake in HDFC Bank, India’s largest private sector bank. 

  HDFC Bank  on Thursday  announced  that the Reserve Bank of India (RBI) has  authorized  the Life Insurance Corporation (LIC) of India to acquire  9.99  per cent  stake in the company.

  “RBI  has  advised  LIC  to acquire the  said  major  stake of  the  bank  within  one  year,  i.e.  before  January 24,  2025,”  the bank said in  the  regulatory filing.  

 Pursuant to Regulation 30 of the SEBI Listing  Rules,  we would like to inform you that the Reserve Bank of India  (RBI),  vide its letter dated January 25, 2024  to  the  Life Insurance Corporation of India  (LIC ), licensed  to  LIC. . to acquire total shares amounting  to 9.99% of the paid-up share capital or voting rights of HDFC Bank Limited,” the bank  added  in its regulatory filing. 

  LIC currently  holds  5.19% stake in HDFC Bank. The insurance giant had earlier sent  a request  to  the  RBI  to increase  its  stake  in the bank.  

 RBI has advised LIC to acquire  majority stake  in HDFC Bank within  one year, i.e.  before  January 24, 2025. Further, LIC must also ensure that the shareholding  n  does not exceed 9.99  %  of  contributed  capital or voting  rights. from  the bank at  any time. 

 HDFC Bank shares  are facing difficulties in  the  market  

 This development comes as HDFC Bank shares  are attempting  to  regain  their former potential  in  the Indian stock  market,  after  witnessing  a  significant decline  due to the  company’s  quarterly  results. This  private  lending institution.  

 HDFC Bank shares  closed down 1.4 per cent at ₹1,440.70  on  Thursday.  The  private bank’s  shares  took a  hit  after the  release of its third-quarter results, which showed a modest profit  for the quarter ending  December 2023.  

 A day after the quarterly results were announced, HDFC Bank shares  fell 9%,  while  shares listed on the US  market fell about 10%  on January 17.  

 HDFC Bank reported a  2.65%  rise in consolidated net profit of ₹17,258 crore in its  third quarter results, compared  to ₹16,811 crore  reported in the quarter  ended  September 2023. 

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