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Samsung urges Tamil Nadu government to ensure 'ease of doing business' as worker protests persist
Economic Times
·
5m ago
Medial
Samsung has urged the Tamil Nadu government to prioritize 'ease of doing business' while ensuring worker safety amid ongoing strikes at its Sriperumbudur plant. The company maintains a zero-tolerance policy towards illegal activities disruptive to industrial stability. Despite protests, production remains uninterrupted. Authorities were requested to ensure worker safety and discipline, following a local police intervention against striking employees. The CITU union plans to escalate protests across the state as their next move.
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Samsung to invest $117 million in southern Indian facility, minister says
Economic Times
·
3m ago
Medial
Samsung Electronics is set to invest $117.09 million in its facility in southern India, following worker protests over suspensions. This move, announced by a Tamil Nadu minister, signifies Samsung's trust in the state's labor force, with plans to create 100 additional jobs. The plant, pivotal in Samsung's Indian operations, manufactures appliances and previously faced strikes over wages and union recognition. Samsung asserts legal compliance amidst union allegations of union-busting.
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IndoSpace to dial up investment in Tamil Nadu to meet warehouse demand
VCCircle
·
9m ago
Medial
- IndoSpace plans to increase investment in Tamil Nadu by 41% in the next three years to meet the rising demand for industrial parks. - The demand for warehouse developers has surged as companies aim to diversify supply chains and capitalize on India's economic growth. - The Indian warehousing market is projected to double to $37 billion by 2032. - IndoSpace has already invested $380 million in Tamil Nadu and aims to raise the investment to $536 million. - The company expects to create over 8,000 new jobs in addition to the 15,000 jobs already planned through a previous partnership with the Tamil Nadu government. - Tamil Nadu is a preferred manufacturing destination for global companies such as Foxconn, Samsung, and Tata Motors' Jaguar Land Rover.
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Is Removing Angel Tax Enough to Keep Indian Startups from Eyeing Dubai?
OutlookIndia
·
7m ago
Medial
The Indian government has abolished the angel tax, which was a burden for startup founders. The move aims to support the growth of startups in the country. Many Indian businesses have been moving to Dubai due to its favorable policies and ease of doing business. The removal of the angel tax could be an attempt by the Indian government to prevent more startups from migrating. However, factors like ease of doing business and transparent regulations are also attracting startups to Dubai. The Indian government is aware of the need to improve its policies and retain startups in the country.
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Samsung announces mutual agreement to enhance wages and benefits for workers
Economic Times
·
2m ago
Medial
Samsung has reached a mutual agreement to enhance wages and benefits for workers at its Chennai plant after successful negotiations with the Samsung India Workers' Union (SIWU). This followed a period of unrest, including a 37-day strike by about 1,000 workers demanding higher wages and better conditions. The agreement, ensuing from constructive discussions facilitated by Tamil Nadu's government, addresses worker demands and aims to foster a positive workplace over the next three years.
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PM Narendra Modi urges tech-first governance, boost for startups, MSMEs
Economic Times
·
3m ago
Medial
Prime Minister Narendra Modi urged India's civil services to adopt a technology-first approach, emphasizing human judgment's importance during the 17th Civil Services Day. Highlighting India's digital advancements, Modi noted compliance reductions and improvements in the ease of doing business. He emphasized supporting startups and MSMEs as economic drivers. Amid workforce disruptions from AI, ongoing training initiatives are preparing workers for new roles. Experts predict significant reskilling needs by 2027 due to AI's impact on jobs.
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SC defers plea on re-opening Vedanta's Tamil Nadu copper smelter plant to Feb 20
Money Control
·
1y ago
Medial
The Supreme Court has deferred the hearing on Vedanta's plea to February 20, regarding the reopening of its Sterlite copper smelter plant in Tamil Nadu. The court suggested the formation of a committee to study the feasibility of reopening the plant, and senior advocates representing Tamil Nadu and the state's pollution control board expressed their intention to consult with stakeholders. The plant was closed in 2018 due to violent protests and alleged violations of environmental norms. Vedanta is seeking periodic access to the plant for maintenance work.
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TN government inks deal with Google for Tamil Nadu AI Labs in Chennai
Economic Times
·
10m ago
Medial
The government of Tamil Nadu has signed an MoU with Google to establish the 'Tamil Nadu AI Labs' in Chennai. This partnership aims to skill 2 million young individuals in AI, collaborate with startups, and support the MSMEs and rural economy. Additionally, the government has signed several other MoUs with companies like Nokia, PayPal, Microchip, Yield Engineering Systems, Applied Materials, and Infinx. The Chief Minister of Tamil Nadu, MK Stalin, visited the offices of tech giants such as Apple, Google, and Microsoft during his visit to the United States.
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Google, Walmart ask Bengaluru staff to work at home amid state water dispute
Reuters
·
1y ago
Medial
Multinational companies like Walmart and Google have asked their employees in Bengaluru, India to work from home due to protests stemming from a river water sharing dispute between two states. Activists are demanding that state authorities stop releasing water from the Cauvery river to Tamil Nadu. Other firms, such as IBM and Accenture, have also advised their employees to work remotely during the strike. Bengaluru, known as India's Silicon Valley, is home to numerous technology companies. The water dispute has been a source of tension between Karnataka and Tamil Nadu for over a century.
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Tamil Nadu CM MK Stalin lays foundation for 28 projects worth Rs 51,157 crore
Economic Times
·
11m ago
Medial
Tamil Nadu Chief Minister MK Stalin inaugurated 19 projects worth Rs 17,616 crore and laid the foundation for 28 industrial projects totaling Rs 51,157 crore. The projects span various sectors and are expected to create employment opportunities for around 100,000 people. Tamil Nadu aims to become a trillion-dollar economy by 2030 and has attracted significant investments, with the state government encouraging further business collaborations. Notable investments include a green hydrogen and ammonia manufacturing unit, pumped storage projects, and the establishment of a hydrogen innovation center by Hyundai Motor India in partnership with IIT Madras.
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Tamil Nadu to SC: Vedanta’s Sterlite Copper not a national asset
Livemint
·
1y ago
Medial
The Tamil Nadu government has stated that Vedanta Ltd's Sterlite Copper plant should not be considered a national asset and argued that Adani Group's upcoming copper smelter plant in Gujarat can fulfill India's copper demand. The Sterlite Copper plant, which was shut down in 2018 due to protests, contributed to 40% of India's copper demand. The state government opposed reopening the plant, citing allegations of pollution and stating that the closure has not caused any economic loss to the region. Vedanta, however, expressed its willingness to form a committee and abide by its recommendations for reopening the plant.
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