Industry Odisha Bureau, Sep 08: Samsung India has begun layoffs across its television and appliance units. The move follows a sharp rise in memory chip prices. Industry executives say costs have more than doubled this year. Smartphone sales and margins are also under strain. Around 80-100 executives have reportedly lost their jobs so far. The cuts include director-level staff and team leads. Branch and area managers at regional offices are also affected. Up to 25% of the sales and marketing workforce could eventually be impacted. This figure includes off-roll employees hired through manpower agencies. No confirmation exists that this full…
Author: Industry Odisha
Industry Odisha Bureau, Sep 07: Chief Minister of Odisha Shri Mohan Charan Majhi will leave Odisha tomorrow, September 8, for a 3-day official visit to the United Arab Emirates (UAE), marking his second international investment roadshow. The outreach programme will take Odisha’s investment outreach to Abu Dhabi and Dubai, with a series of high-level government engagements, investor meetings, business interactions and diaspora outreach. The Chief Minister’s UAE visit will begin in Abu Dhabi, where he will engage with leading UAE institutions and investors. The programme includes a roundtable with IHC, signing of Memoranda of Cooperation (MoCs), and meetings with the UAE…
Industry Odisha Bureau, Sep 07: In a significant step toward enhancing road safety, the Odisha Government on Monday signed an MoU with Indian Oil Corporation Limited (IOCL), a leading public sector enterprise of the Government of India, for the efficient management and maintenance of modern truck terminals being developed along highways. The MoU was signed in presence of Principal Secretary, Commerce & Transport Department, N B S Rajput, Transport Commissioner Amitabh Thakur, and DGM, IOCL, Sachindra Guni here. The agreement was signed with the objective of preventing road accidents and fatalities caused by illegal parking on highways, while providing better…
Industry Odisha Bureau, Sep 07: There’s a telling detail buried in Satish Kumar’s Sunday briefing in Indore, India’s hydrogen train has already proven it can hit 120 kmph in trials, yet Railways isn’t rushing to run it that fast commercially. The target being set is 110 kmph deliberately lower than what the technology has already demonstrated. That gap between what’s been tested and what’s being planned says something about how cautiously this technology is being rolled out. Why the speed ceiling is coming down, not up Since its July 17 launch on the 89-km Jind-Sonipat corridor in Haryana, the train…
Industry Odisha Bureau, Sep 07: Sudhir Singh has a number in mind, and he wants to get there ahead of schedule. Coforge’s CEO is telling anyone who’ll listen that the company will blow past $5 billion in revenue well before its original FY30 deadline and crucially, he’s framing this as an organic story first, an acquisition story second. That ordering matters more than it might seem. The numbers behind the confidence FY26 closed at $1.87 billion, up 29% year-on-year a genuinely strong print by any IT services benchmark. Strip out the effect of the Encora acquisition, though, and Kotak Institutional…
Industry Odisha Bureau, Sep 07: Most people have experienced it: an app freezes, the screen locks up, and for a moment you assume it’s just your phone acting up. But security researchers are now flagging a fraud pattern where that frozen moment isn’t an accident it’s engineered. The freeze itself doesn’t steal anything. It’s the opening move in a longer con designed to get you to hand over control voluntarily. How the setup works The chain typically starts small a stray link in a social media ad, a message promising a refund or reward. Clicking it can cause the device…
Industry Odisha Bureau, Sep 07: Raghav Productivity Enhancers Ltd. (RPEL), a leading manufacturer of silica ramming mass, today announced a strategic joint venture with TRL Krosaki Refractories Ltd. (TRL Krosaki) to establish a 350,000 metric tonnes per annum (MTPA) silica ramming mass manufacturing facility in Odisha, with an initial investment of Rs 100 crore. The partnership marks a significant step in RPEL’s strategy to build a multi-location manufacturing platform, strengthen its presence in East India and create a more efficient supply network closer to key consumption centers. The JV brings together RPEL’s patented manufacturing technology, established market presence and R&D…
Industry Odisha Bureau, Sep 07: India’s Defence Acquisition Council approved acquisition proposals worth ₹1.10 lakh crore. Defence Minister Rajnath Singh chaired the council meeting on Monday. Nearly 98% of procurement will come from Indian industry. The approvals span the Indian Army, Navy and Air Force. The DAC granted Acceptance of Necessity for these proposals. Acceptance of Necessity marks in-principle administrative approval, not final contracts. It signals the start of a formal procurement process. Actual contracts, financial closure and delivery still remain ahead. The council’s move nonetheless outlines a broad modernisation roadmap. For the Indian Army, approvals cover several specialised capability…
Industry Odisha Bureau, Sep 07: Former RBI Governor C. Rangarajan has questioned ongoing Regional Rural Bank consolidation. Speaking in Chennai, he called the trend concerning. He said RRBs are losing their distinct local identity. Universal-bank mergers could eventually follow, he cautioned. Rangarajan also pressed the RBI to support Small Finance Banks. Just 11 SFBs exist, he noted, far too few. His comments revive debate over India’s rural-credit framework. Rangarajan made the remarks at Equitas Small Finance Bank’s tenth-anniversary event. He questioned what had happened to Regional Rural Banks recently. States now typically have just one RRB each, he said. In…
Industry Odisha Bureau, Sep 07 : India has completed a decade of formal inflation targeting. The RBI aims to contain inflation at 4%. Its tolerance band spans plus or minus two percentage points. Controlling demand remains one central policy channel. The RBI can increase policy rate of interest when inflation rises. Higher borrowing costs then ripple through household and business decisions. The demand channel works through commercial lending rates. When the RBI raises its repo rate, banks follow. Households grow cautious about home and consumer loans. Businesses often postpone factory expansion and investment plans. This dampened borrowing is meant to…