Hyderabad, May 21 (IANS) The Telangana government will formulate six new policies for industrial development, including one for the MSME sector and one for exports, it was announced on Tuesday.

A new life sciences policy, a revised policy for electric vehicles, a medical tourism policy, and a green energy policy will also be unveiled.

This was decided at a review meeting that Chief Minister A. Revanth Reddy held on Tuesday with officials of the Telangana State Industrial Infrastructure Corporation.

He suggested that the policies should be formulated to compete with other countries in industrial development, and also gave some proposals for the new industrial policy to be adopted by the state government.

He asked them to study the best industrial policies in other countries.

The officials apprised the CM of the decisions taken in the previous review meetings and the progress of the works.

CM Revanth Reddy also advised the officials to formulate a new policy to benefit the power loom and handloom workers to promote the textile industry in the state. He directed the officials to finalise the industrial policies before the model code of conduct ends.

–IANS

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New Delhi, May 21 (IANS) The Air India Express Employees Union (AIXEU) on Tuesday sought the Delhi Chief Labour Commissioner’s intervention in the ongoing operations issues in the airline.

In a letter to the CLC, AIXEU President K.K. Vijayakumar said that the union wants to bring the official’s attention to some insights regarding the number of flight cancellations and delays on a daily basis by Air India Express management following the conciliation meeting held on May 9.

“As per the conclusion of the conciliation, all cabin crew reported back for flying duties by May 10. However, it is shocking and surprising to note that many flights are still being cancelled and delayed, citing reason of ‘crew constraints’,” it read.

“Upon inquiry, it has come to our notice that the operations department lost cabin crew data due to the transition from old software ARMS to the new (CAE) app managed by the scheduling department. The concerned department has asked the crew to submit their details for updating the data in the new system, i.e., CAE. Additionally, more than 100 cabin crew members have been sitting idle, without flying duties for the last two months due to the non-availability of Airport Entry Passes,” Vijayakumar said in his letter.

“To cover up, daily flight cancellations and delays, cabin crew are manually assisting the scheduling department base-wise. The cabin crew are doing their utmost to restore and operate flights on time for public convenience. Furthermore, the reduced number of departures is adversely affecting the cabin crew’s salaries. Therefore, I kindly request your urgent intervention for the needful,” he added.

–IANS

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Washington, May 21 (IANS) Nikesh Arora, the India-born CEO of Palo Alto Networks, has been ranked America’s second-highest paid CEO in 2023.

A total of 17 Indian-descent CEOs are in the top 500 rankings, according to an analysis published by The Wall Street Journal on Tuesday.

Shantanu Narayen of Adobe is the second-highest paid Indian-descent CEO, ranked 11 overall. Arora and Narayen earned $151.43 million and $44.93 million, respectively, more than Tesla’s Elon Musk, who did not receive any compensation in 2023, according to the report.

Meta’s Mark Zuckerberg earned $24.40 million, while Alphabet’s India-born head Sundar Pichai earned $8.80 million during the period under review.

A product of Delhi’s Air Force Public School, Arora first drew international attention as the chief business officer at Google, which he left in 2014 to head SoftBank with a reported compensation that was said to be a record for Japan.

Arora has been heading Palo Alto Networks, a cybersecurity company, since 2018. His compensation at Palo Alto Networks consists mostly of equity awards that include shares granted over three years.

Narayen, who was born and raised in Hyderabad, has been the CEO of Adobe since 2007 after joining the company in 1998.

Hock Tan of Broadcom topped the list with an earning of $162 million.

Ranked third, fourth, and fifth among Indian Americans were Sanjay Malhotra of Micron Technology (63rd, $25.28 million), Ajei Gopal of Ansys (66th, $24.63 million), and Reshma Kewalramani of Vertex Pharmaceuticals (118th, $20.59 million).

Others included Arvind Krishna of IBM (123rd, $20.40 million), Badrinarayn Kothandaraman of Enphase Energy (135th, $19.53 million), Sanjiv Lamba of Linde (143rd, $19.20 million), Surendralal Karsanbhai of Emerson electric (158th, $18.32 million), Anirudh Devgun of Cadence Design Systems (172nd, $17.34 million), Shankha Mitra of Wellflower (174th, $17.20 million), Sumit Roy of Realty Income (268th, $13.13 million), Satish Dhanasekaran of Keysight Technologies (319th, $10.75 million), Prahlad Singh of Rewity (357th, $9.13 million), Sundar Pichai of Alphabet (364th, $8.80 million), Udit Batra of Waters (367th, $8.74 million), and Sundarrajan Nagarajan of Nordson (389th, $6.98 million).

–IANS

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New Delhi, May 21 (IANS) The widespread availability of spectrum for 5G is likely to contribute about $27 billion to India’s gross domestic product (GDP) by 2030, a GSMA report said on Tuesday.

The organisation, which represents mobile networks worldwide, said the upper 6 GHz band must also be part of the spectrum roadmap of the country.

According to Luciana Camargos, Head of Spectrum for the GSMA, India’s 5G momentum has gained global attention and respect.

“For it to continue, and for the full realisation of the Indian government’s digital ambitions, a clear roadmap to deliver spectrum for growing mobile demand is needed,” Camargos said in a statement.

“The upper 6 GHz band must be part of that roadmap and bringing it into commercial use will require close collaboration between government and the mobile industry.”

India is among the fastest-growing markets for 5G globally. The 5G users in the country are using nearly 3.6 times as much mobile data traffic compared to 4G since its launch in October 2022 by Prime Minister Narendra Modi.

The 5G device ecosystem in India is rapidly evolving, with approximately 17 per cent of active 4G devices, totalling 134 million out of 796 million, now being 5G capable, according to the ‘Nokia Mobile Broadband Index’ report.

The launch of 5G has emerged as a significant catalyst for the growth in data usage.

–IANS

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Mumbai, May 21 (IANS) JK Tyre & Industries Ltd on Tuesday reported a 56 per cent jump in its consolidated net profit at Rs 169.33 crore for the January-March quarter of 2023-24 compared to the corresponding figures of Rs 108.38 crore reported in the same period of the previous year.

The firm’s revenue from operations increased by 1.8 per cent to Rs 3,698.45 crore from Rs 3,632.47 crore in the same quarter last year, according to a regulatory filing.

The company also announced a final dividend of Rs 3.50 per equity share for FY24.

JK Tyre CMD Raghupati Singhania said, “This performance is attributed to our continued focus on product premiumisation, widening market reach and tech-enabled manufacturing and digitalisation across operations achieving better efficiencies. Moreover, our strategic initiatives to fortify our balance sheet through equity infusion yielded fruitful results, reinforcing our financial resilience.”

The firm said its exports were flat during the year because of geo-political disruptions that also led to freight hikes. In the next few quarters, the company expects to improve its export volumes.

“We remain optimistic on the tyre demand outlook led by robust infra-spends and buoyed economic activities,” the company said.

–IANS

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