COMMING SOON
LATEST NEWS
75 per cent reservation for locals in Private Sector is detrimental to the industry: ACMA

Automotive ComponentManufacturers Association of India (ACMA), the apex body representing India’sauto component manufacturing industry, has once again requested the HaryanaState Government to reconsider reservation of employment for locals in privateenterprises. The Haryana assembly, on November 05, 2020, had passed the ‘HaryanaState Employment of Local Candidates Bill’ that mandates 75 per centreservation of factory and other blue-collar jobs in the private sector forlocals.

Stressing on the needfor reconsidering such a provision, Deepak Jain, President, ACMA, said, “TheIndian auto and auto component industry is a global one. Our production notonly caters to the domestic demand but also to international markets. TheIndian component industry today exports more than 25 per cent of itsproduction, with US and Europe being our leading markets. Our industry requiresskilled workforce to produce high quality products that are globallycompetitive. Hiring in our sector is done on the basis of talent and skillsneeded by the industry rather than on domicile of the candidates.”

“Such a move would notonly adversely impact the ‘ease of doing business’ in the state but also bedetrimental to Haryana’s image of an industry friendly state and in attractingfuture investments,” added Jain.


NEWS ----------SEPTEMBER 2018 Issue
Cygni Energy raises $6.4 Mn to power growth & expansion

Hyderabad-based Cygni Energy Pvt. Ltd., an innovative Solar-DC solutions start-up, has announced that it has raised funds of $6.4-mn through a combination of equity and debt. The equity funding is led by Endiya Partners, a leading early stage venture capital firm that invests in product start-ups, and the debt by IndusInd B   READ MORE...
*****
Cosmos Solutions receives US$950-mn for new eco-friendly energy product
Cosmos Solutions Pvt. Ltd.’s patented new technology to generate more power from engines using micro controllers received a major green signal with a private equity of US$950-million from Linetrust Offshore Ltd. The Head of private equity of Linetrust ASEAN, Dr. Sailesh Lachu Hiranandani, who has spared no effort in promoting the development of renewable energy, assured Cosmos   READ MORE...
*****
Black & Veatch bags IEDCL’s 41MW hybrid project
Black & Veatch has been selected to provide engineering expertise to IL&FS Energy Development Company Limited’s (IEDCL) 41 megawatt (MW) solar photovoltaic (PV), wind, and battery storage hybrid project in India. Core components of the project are 25 MW solar PV and 16 MW wind power generation systems, coupled to an optimised energy storage system.

Technical services for the   READ MORE...