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☆ India train crash: Devastating scenes of despair after one of the worst train crashes the country has ever seen
▼ + stars: | 2023-06-05 | by ( Ivan Watson Kunal Sehgal Deepak Rao Rhea Mogul | Ivan Watson | Kunal Sehgal | ) edition.cnn.com time to read: +10 min

Some of the coaches rolled to the other side,” the 32-year-old restaurant worker told CNN from a hospital in India’s eastern Odisha state. Their story is just one of hundreds unfolding across the country as India deals with one of the worst train crashes it has ever seen. Doctors confer as they attend to survivors of a train accident in a hospital in Balasore, India, on June 4, 2023. A drone view shows derailed coaches after two passenger trains collided in Balasore district in the eastern state of Odisha, India, June 3, 2023. In 2011, scores were killed when a train jumped tracks in the northern state of Uttar Pradesh.

Persons: CNN — Manto Kumar, “, ’, Punit Paranjpe, “ I’ve, I’ve, Laluti Devi, ”, Abhishek Chinnappa, Ashwini Vaishnaw, Laxminaranyan, Stringer, Reuters Anushuman Purohi, ” Vaishnaw, Rafiq Maqbool, Narendra Modi, Modi’s, Vaishnaw, Kumar Organizations: CNN, Express, Getty, Mojo, India’s, Government Medical College, Howrah, Reuters, Sunday, Indian, Crime Records, AP Railways, Central Bureau of Investigation, Authorities Locations: India’s, Odisha, India, Balasore, AFP, Bhubaneswar, Chennai, Kolkata, Bahanaga Bazar, Bangalore, Tamil Nadu, Balasore district, Andhra Pradesh, Uttar Pradesh

Rescue workers gather around damaged carriages during search for survivors at the accident site on Saturday. With the rail routes still blocked, family members of deceased passengers are having to find their way by other means to the crash site, to help identify the dead. India’s extensive rail network, one of the largest in the world, was built more than 160 years ago under British colonial rule. Decaying infrastructure is often cited as a cause for traffic delays and numerous train accidents in India. An ambitious National Rail Plan, announced in 2021, envisages that all major cities in north, west and south India should be connected by high-speed rail.

Persons: –, Ashwini Vaishnaw, ”, Dibyangshu Sarkar, Jaya Varma Sinha, ” Sinha, Mansukh Mandaviya, Mandaviya, Naveen Patnaik, Patnaik, “, Narenda Modi, Narendra Modi, Volodymyr Zelensky, Vladimir Putin, Joe Biden, Rishi Sunak, Fumio Kishida, Antonio Guterres, Pope Francis, Modi, Modi’s, Albright Organizations: Hong Kong CNN, Howrah, Bangalore . Rescue, Getty, Jaya, India’s Health, Sunday, Odisha’s, Public Relations Department, Indian, Rapid, Force, British, United Nations, National Crime Records, Group, Rail Plan, Bharat Locations: New Delhi, London, Hong Kong, Balasore, Odisha, Indian, Kolkata, Chennai, Bazar, Bangalore, AFP, Tamil Nadu, Russian, India, Jammu, Kashmir

☆ Passenger trains derail in India, killing at least 50, trapping many others
▼ + stars: | 2023-06-02 | by ( ) www.cnbc.com time to read: +3 min

Rescuers work at the site of passenger trains that derailed in Balasore district, in the eastern Indian state of Orissa, Friday, June 2, 2023. Two passenger trains derailed Friday in India, killing at least 50 people and trapping hundreds of others inside more than a dozen damaged rail cars, officials said. The debris was hit by another passenger train coming from the opposite direction, and up to three coaches of the second train also derailed, Sharma said. In August 1995, two trains collided near New Delhi, killing 358 people in the worst train accident in India's history. More than 12 million people ride 14,000 trains across India every day, traveling on 64,000 kilometers (40,000 miles) of track.

Persons: Amitabh Sharma, Sharma, Kaleda, Dattatraya Bhausaheb Shinde, Pradeep Jena, Shinde, Narendra Modi, Modi Organizations: The Press Trust of India, New Delhi Television, Press Trust, Rescuers, The Press Trust, Indian Locations: Balasore district, Orissa, India, Kolkata, Balasore, Howrah, West Bengal, Chennai, Tamil Nadu, New Delhi

☆ Indian ports will test tycoons' safe harbour
▼ + stars: | 2023-06-02 | by ( Pranav Kiran | ) www.reuters.com time to read: +4 min

For the public market wannabe, it tees up a tricky benchmark in a global industry with few listed giants. JSW Infrastructure is closely aligned to India’s growth story. More than half of cargo handled at Indian ports last year was coal, petroleum oil and lubricants. JSW Infrastructure grew revenue 92% in the three years to March 2022, three times as fast as its rival. JSW Infrastructure, India’s second largest commercial ports operator by cargo handling capacity, in May filed for an initial public offering in Mumbai to raise up to 28 billion rupees ($340 million).

Persons: Gautam Adani, Sajjan Jindal, Adani, JSW, ”, Una Galani, Katrina Hamlin Organizations: Reuters, Hindenburg Research, Deloitte, JSW, Infrastructure, Deloitte Haskins, Securities and Exchange Board of India, JM Financial, Axis Bank, State Bank of India, HSBC, Credit Suisse, Thomson Locations: BENGALURU, Mumbai, Goa, Tamil Nadu, West, JSW

☆ Column: India's pledge to stop new coal power plants to hit key states
▼ + stars: | 2023-05-09 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

IN CONSTRUCTIONThe new proposals make clear that whatever coal capacity is already under construction in India will proceed. A total of 32,000 megawatts of new coal power is currently being built in India, according to the Global Energy Monitor (GEM). India coal capacity under constructionOnce completed, that would boost current operating capacity by close to 14%, and lift total Indian coal capacity to beyond 266,000 MW, GEM data shows. Alongside the widespread swell in coal capacity is even faster growth in renewables energy supply capacity across India. Proponents of immediate cuts to coal power use may be disappointed that several new coal projects will still emerge.

☆ Japan's Mitsubishi Electric to build India plant for $231 mln
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, May 9 (Reuters) - The Indian arm of Japan's Mitsubishi Electric Corp (6503.T) said on Tuesday that it will invest 18.91 billion rupees ($231.2 million) to set up a manufacturing facility in the southern state of Tamil Nadu. Mitsubishi Electric India will employ 2004 people for this project, it said in an official statement. ($1 = 81.7800 Indian rupees)Reporting by Hritam Mukherjee in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ Geopolitics is shrinking India’s risk premium
▼ + stars: | 2023-05-09 | by ( Una Galani | ) www.reuters.com time to read: +7 min

They are lured by a country whose potential as an alternative investment destination to China increasingly outweighs the local challenges of doing business. India’s $3 trillion economy is forecast to grow by 6.5% this fiscal year, continuing to outpace the rest of the world. Executives and investors also see a business-friendly government that is likely to remain in power for the next half-decade. Morgan Stanley analysts and strategists expect India to become the world’s third-largest economy and stock market before the end of the decade. The India risk premium is rapidly disappearing.

☆ Bollywood film on Islamic State recruits sparks debate in India
▼ + stars: | 2023-05-09 | by ( Shilpa Jamkhandikar | ) www.reuters.com time to read: +2 min

MUMBAI, May 9 (Reuters) - A low-budget Bollywood film about young women recruited by the Islamic State has stirred up passionate debate, helping to make it an instant box-office hit in India. "The Kerala Story," set in the coastal southern state of the same name, follows three women who are indoctrinated, converted and sent to IS camps. Prime Minister Narendra Modi praised the film by director Sudipto Sen, saying it showed the consequences of terrorism. Uttar Pradesh and Madhya Pradesh, two states ruled by his Bharatiya Janata Party, have exempted the film from state taxes, making tickets cheaper. However, the Kerala High Court has refused to impose a ban in the state where the film is set, saying it was "inspired by true events."

NEW DELHI, March 24 (Reuters) - Apple Inc's (AAPL.O) Taiwanese supplier Pegatron Corp (4938.TW) is in talks to open a second India factory, said two sources with direct knowledge of the matter, as the U.S. tech giant's partners continue to diversify production away from China. Pegatron currently accounts for 10% of Apple's iPhone production in India on an annualised basis, research firm Counterpoint said. The talks for starting a second Pegatron facility on lease are ongoing and it will be located inside Mahindra World City near Chennai, just around where the company inaugurated the first plant in September 2022. India is the second biggest smartphone market in the world, where Apple also plans to assemble iPad tablets and AirPods. Last week, Reuters reported Foxconn has plans to build a $200 million factory in India to produce the wireless earphones for Apple after winning a contract.

☆ Apple supplier Foxconn expects decline in consumer electronics demand, prioritizes global growth
▼ + stars: | 2023-03-15 | by ( Rohan Goswami | ) www.cnbc.com time to read: +2 min

Major Apple supplier Foxconn reported a 10% year-over-year decline in profit for 2022 and anticipated a decline in consumer electronics demand for the full year ahead, the company said in its earnings report Wednesday. The negative sentiment reflected Apple's muted expectations for consumer sales. The company added iPhone sales will decline less in the March quarter compared to the Dcember quarter. Taiwan-based Foxconn is a major manufacturer for consumer technology firms, but is best known for its relationship with Apple, which relies on Foxconn to produce and assemble its iPhone, among other products. The Chinese government has since pulled back on the most aggressive of its Covid protocols, but Apple and other major technology companies have emphasized to suppliers a need to diversify beyond China.

☆ Apple supplier Foxconn is on the hunt for semiconductor and EV deals in India
▼ + stars: | 2023-03-04 | by ( Juliana Liu | ) edition.cnn.com time to read: +2 min

Taiwan’s Foxconn has been looking to expand its operations in the South Asian giant after suffering severe supply disruptions in China last year. “India is a country with a large population,” Young Liu, the company’s chairman and CEO, said in a Saturday statement. The company, best known for making Apple (AAPL)’s iPhones, is one of the world’s biggest contract makers of electronics. India has emerged as an attractive potential alternative to China for the likes of Apple. Apple devices are currently manufactured in India by Foxconn, Wistron and Pegatron, which are all Taiwanese companies.

☆ Taiwan's Foxconn seeks chip, EV cooperation with India
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +2 min

Taiwan's Foxconn, the world's largest contract electronics maker and formally called Hon Hai Precision Industry Co Ltd, said Liu had visited India from Feb. 27 to Saturday. "My trip this week supported Foxconn's efforts to deepen partnerships, meet old friends and make new ones, and seek cooperation in new areas such as semiconductor development and electric vehicles," Liu said in a statement. Foxconn has ambitious plans to make EVs, and is also looking to make chips. He did not mention any new concrete investment plans in the country, and Foxconn has not announced any since his trip. Currently, iPhones are assembled in India by at least three of Apple's global suppliers - Foxconn and Pegatron (4938.TW) in Tamil Nadu, and Wistron in Karnataka.

☆ Apple iPhones to be assembled at new plant in India's Karnataka state
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, March 3 (Reuters) - Apple Inc's (AAPL.O) iPhones will soon be assembled at another site in the southern Indian state of Karnataka and 300 acres have been aside to set up a factory, the state government said on Friday. Bloomberg News had earlier reported that Apple partner Foxconn Technology Group planned to invest about $700 million in the Karnataka site to ramp up local production. The state's investment promotion division said in a tweet that the move would generate 100,000 employment in the next 10 years. Currently, iPhones are assembled in India by at least three of Apple's global suppliers - Foxconn and Pegatron (4938.TW) in Tamil Nadu, and Wistron (3231.TW) in Karnataka. read moreReporting by Ashish Chandra in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

NEW DELHI— Apple Inc.’s main manufacturer, Foxconn Technology Group , is considering a major expansion in India, including possibly assembling millions more iPhones and setting up new production sites as it seeks to further diversify beyond China. Foxconn is set to expand production of iPhones at its existing plant near Chennai, in the southern Indian state of Tamil Nadu, people familiar with the matter said. It aims to boost iPhone production to around 20 million units annually by 2024, and roughly triple the number of workers to as many as 100,000, said the people, including a senior Indian government official.

☆ Ola plans $920 mln India investment in electric cars, batteries
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: +1 min

CHENNAI, Feb 18 (Reuters) - SoftBank Group-backed (9984.T) Ola Electric would invest $920 million in the southern Indian state of Tamil Nadu to manufacture electric cars and batteries for electric vehicles (EVs), a state government statement said on Saturday. Ola will invest 76.14 billion rupees ($920 million) through its subsidiaries Ola Electric Technologies and Ola Cell Technologies, drawn to the growing demand for EVs in India. The company's cumulative production numbers topped 100,000 in November, and it plans to annually make 140,000 cars and hire 3,111 workers in Tamil Nadu through the new investment. In September, Ola said it was looking to expand into Latin America, ASEAN and European Union countries after entering India's neighbour Nepal first. ($1 = 82.7500 Indian rupees)Reporting by Praveen Paramasivam in Chennai; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ India's Amrutanjan Health Care sinks on whistleblower allegations
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Feb 15 (Reuters) - Shares of India's Amrutanjan Health Care Ltd (AJAN.NS) plunged as much as nearly 10% on Wednesday, a day after it said an anonymous whistleblower complaint alleged some senior management of "undue enrichment" and "conflict of interest." Amrutanjan's shares closed 1.4% lower on Tuesday after the company disclosed the allegations, and were down 8.7% as of 12.14 p.m. IST on Wednesday. The complaint alleged "lapses by certain senior management employees including undue enrichment through marketing, advertising and procurement activities, ethical concerns and conflict of interest etc," Amrutanjan said on Tuesday. Amrutanjan did not immediately respond to a Reuters' email seeking further details on the complaint, including if the company has conducted its own probe or if the managers were still employed with the company. ($1 = 82.8600 Indian rupees)Reporting by Hritam Mukherjee in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ Apple supplier Salcomp to boost Indian workforce to 25,000
▼ + stars: | 2023-02-13 | by ( Praveen Paramasivam | ) www.reuters.com time to read: +2 min

[1/2] A salesperson speaks to a customer at an Apple reseller store in Mumbai, India September 1, 2021. REUTERS/Francis Mascarenhas/File PhotoCHENNAI, Feb 13 (Reuters) - Finland's Salcomp, a supplier to Apple (AAPL.O), is planning to more than double its workforce in India to nearly 25,000 over the next three years, a company executive said on Monday. And India is poised to be one of the best alternatives," said Sasikumar Gendham, managing director, Salcomp Manufacturing India. Salcomp, a major supplier of chargers to the iPhone maker, is also setting up a housing complex with entertainment and education for about 15,000 people, said Gendham. Foxconn (2317.TW), another Apple supplier, also plans to quadruple the workforce at its iPhone factory in India over two years, Reuters had reported last year.

☆ Is the iPhone's 'Made in India' era beginning as Apple breaks with China?
▼ + stars: | 2023-02-10 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

Minister of Commerce and Industry Piyush Goyal said Apple was already making between 5% and 7% of its products in India. His comments come at a time when Foxconn (HNHPF), a top Apple supplier, is looking to expand its operations in India after suffering severe supply disruptions in China. For years, Apple had relied on a vast manufacturing network in China to mass produce iPhones, iPads and other popular products. China headaches mountBut the world’s most valuable company posted shockingly weak earnings this month, partly because of its recent problems in China. According to Counterpoint’s Pathak, India accounts for 16% of the global smartphone production, while China constitutes 70%.

To secure egg supplies as prices rose to record highs, Malaysia's Minister of Agriculture and Food Security Mohamad Sabu visited Namakkal, in the southern Indian state of Tamil Nadu, where several leading hatcheries are based. India shipped 5 million eggs to Malaysia in December, and will ship 10 million in January and up to 15 million in February, according Kumar. The imports from India have helped Malaysia bring prices down from the record highs seen in late December. Having suffered a shortfall of 157 million eggs in November, the market gap was down to just one million in December, the Malaysian minister said in a statement earlier this week. Meantime, prices in India have shot up to a record 565 rupees ($6.96) per 100 eggs.

☆ Davos: India flexes its muscle as China's star fades
▼ + stars: | 2023-01-19 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

In 2023, as global recession fears persist, the country is expected to log the best performance of any major economy. An Invest India banner hanging from a building ahead of the World Economic Forum in Davos, Switzerland, on Monday, Jan. 16. India is also due to displace its powerful neighbor as the world’s most populous country this year. They’re a substantial asset — if India’s economy can create enough jobs. “The world needs resilience,” Tata Sons Chairman Natarajan Chandrasekaran told a Davos panel.

[1/3] Drivers push auto rickshaws in a line to buy petrol from a fuel station amid Sri Lanka's economic crisis, in Colombo, Sri Lanka, July 29, 2022. India's foreign ministry did not respond to questions from Reuters on its plans and strategic aims in Sri Lanka. New Delhi has long been concerned about China's clout in its neighbourhood, including Nepal, Bangladesh and Sri Lanka. "And as far as Sri Lanka is concerned, we don't want to contribute to any escalation of tension between any countries." "Sri Lanka has clearly benefited from being the closest neighbour to the most powerful country in the region.

☆ India antitrust agency raids some steel firms for alleged price collusion-sources
▼ + stars: | 2022-12-17 | by ( Aditya Kalra | ) www.reuters.com time to read: +1 min

MUMBAI, Dec 17 (Reuters) - India's antitrust watchdog is raiding offices of small-scale steel companies for alleged price collusion of steel products used in construction, two sources with direct knowledge told Reuters. Among those raided were Rungta Steel and Shyam Steel, the sources said, as officials from the Competition Commission of India (CCI) conducted searches in states of West Bengal, Punjab, Tamil Nadu and Indian capital New Delhi on Saturday. In all around eight to nine offices of steel companies were searched, though names of other firms raided were not immediately clear. The CCI does not disclose any details publicly of its raid operations or cases related to alleged price collusion. Shyam Steel is a 30 billion Indian rupees ($362.73 million) group which manufactures several steel products.

☆ At least four killed as Cyclone Mandous hits southern Indian state
▼ + stars: | 2022-12-10 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, Dec 10 (Reuters) - A cyclonic storm killed at least four people in the southern Indian state of Tamil Nadu on Saturday, the top state official said, as heavy rain and strong winds buffeted several districts damaging property and causing power outages. Cyclone Mandous, which made landfall late Friday night, damaged 185 houses and huts, Tamil Nadu’s chief minister, MK Stalin, told reporters. The storm uprooted 400 trees in the state capital Chennai, a hub for auto makers and technology firms. Nearly 25,000 people, including disaster relief personnel, were involved in the relief work, and more than 9,000 people were moved to safety in 201 relief camps, Stalin said. “We are still assessing damages”, he told reporters, as he visited some of the affected areas.

[1/5] Women from a fishing community attend a protest against the construction of the proposed Vizhinjam Port in the southern state of Kerala, India, November 9, 2022. A $900 million project to build India’s first container transhipment port has been stalled due to protests by the region’s fishing community who believe it will destroy their livelihood. The fishing community erected the shelter after years of failed efforts to get the Kerala government to intervene while watching the coast steadily erode. "This is a matter of providing jobs to the many localities here," said Mukkola G Prabhakaran, a Kerala state council member in Modi's Bharatiya Janata Party. Accusing the Kerala state police of being "mute spectators", the Adani conglomerate has also called for federal police to be brought in.

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