India economy & business news in brief for Oct 2: Modi minister elated as HP, Google decide to make Chromebooks in India

HP and Google’s decision to manufacture Chromebooks in India highlights the country’s appeal for hardware production, feels Indian minister of state for information technology and electronics Rajeev Chandrasekhar. Chromebooks encompass laptops, detachables, and tablets running ChromeOS. Chandrasekhar praised the move and credited prime minister Narendra Modi’s vision and production-linked incentives (PLI), making India an attractive hub for electronics manufacturing. Google CEO Sundar Pichai announced the partnership with HP, further reinforcing India’s growing role in laptop and server manufacturing through PLI.

India’s civil aviation regulator Directorate General of Civil Aviation (DGCA) has proposed a draft that may mandate pilots and crew members to refrain from using perfumes during the breathalyzer test. The DGCA has come up with the draft because perfumes generally have a high alcohol content and can affect the test. According to the latest draft accessed by Asian News International, “No crew member shall consume any medicine/formulation or use any substance such as mouthwash/tooth gel/perfume or any product containing alcohol which may result in a positive breathalyzer test. Any crew member who is undergoing such medication shall consult the company doctor before undertaking a flying assignment.”

Kharghar Vikhroli Transmission Limited, which will enable additional power to be brought into the western Indian city of Mumbai and thus enable meeting the city’s growing and future electricity demand, is commissioned, said Adani Energy Solutions Limited (AESL) through a release on Monday. AESL, earlier known as Adani Transmission Limited, is a part of the diversified Adani Group. It is the transmission and distribution arm of the Adani portfolio. Built by Adani Energy Solutions Limited (earlier known as Adani Transmission Limited), the energy solution, transmission and distribution arm of the Adani portfolio, the project is critical for Mumbai as the existing capacity of the transmission corridor is not sufficient to carry further power into the city.

Indian industry bodies FICCI, CII and ASSOCHAM have welcomed the market regulator Securities and Exchange Board of India’s (SEBI) move to extend the timeline for implementation of regulation relating to verification of market rumours by listed Indian companies. Under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the top 100 listed entities by market capitalisation were with effect from October 1, 2023, and top 250 listed entities by market capitalization with effect from April 1, 2024, were to mandatorily verify and confirm, deny or clarify market rumours. Now, SEBI has decided to extend the effective date of implementation for top 100 listed entities by market capitalisation, to February 1, 2024, and for the top 250 listed entities by market capitalization, to August 1, 2024.

(With agencies inputs)