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India’s first current account surplus since 2003 may not sustain as trade deficit set to widen, says GlobalData. India recorded an annual current account surplus for the first time in 17 years in 2020 due to lower trade deficit amid depressed import demand with closure of economic activities due to the COVID-19 induced nationwide restrictions. However, the current account surplus may not sustain as trade deficit is forecasted to widen from US$23.3bn in 2020 to US$53.9bn in 2021 with the re-opening initiatives, says GlobalData, a leading data and analytics company. The current account balance showcases the gap between the country’s overall foreign receipts and payments and highlights the nation’s external sector’s robustness. India’s current account which recorded an average annual deficit of 1.9% of GDP during 2004-2019 turned into a surplus of 1.0% of GDP in 2020. The main driver of India’s current account surplus was lower imports due to subdued domestic demand and lower prices of oil, which narrowed down the trade deficit by US$102.8bn in 2020. Thus, while exports weakened by 13.8%, imports contracted by a massive 26.6% in 2020. Shruti Upadhyay, Economic Research Analyst at GlobalData, says: “Most Indian states are embarking on reopening initiatives and with the resumption of economic activities domestic demand is expected to rise, which is anticipated to drive the growth of exports and imports. “GlobalData forecasts the imports and exports to grow at an average annual growth of 6.4% and 5.2%, respectively, during 2021–25. Consequently, India is expected to record a current account deficit of 1.74% of GDP on an average during 2021–25, as per the IMF estimates.” India is the third largest consumer of the crude oil in the world, with an import dependency of almost 85%, playing a vital role in total import growth of the country. The reduction in […]

How can we make machining sustainable?

The changes that cut waste and increase productivity According to the International Energy Agency (IEA), India’s carbon dioxide (CO2) emissions declined by 7% in 2020. Breaks in industrial production contributed to the reduction, resulting in CO2 emission savings of nearly 50 million tonnes. This significant reduction in emissions demonstrates the large potential the industrial sector can play in combatting climate change. Here Emrah Titiz, president of sales, India, at global leader in metal cutting tools Sandvik Coromant, looks at how the machining industry can become more sustainable. Like many other manufacturing sectors, the machining industry is under rising pressure to develop more environmentally friendly practices. This is in line with Goal 12 of the United Nations (UN) Sustainable Development Goals (SDGs), sustainable consumption and production. Fortunately, making machining more sustainable doesn’t have to entail high costs and productivity sacrifices. In fact, thoughtful adjustments to processes can simultaneously improve a business’s bottom line and decrease its environmental impact by reducing waste and increasing efficiency. Reduce tool waste Tools can be a high source of waste in machining centres. Many tools contain valuable, finite materials, and it’s important that these are kept in circulation to preserve resources. Once a tool has been worn, it doesn’t have to become destined for landfill. The first step to consider in bringing new life to old tools is reconditioning. In contrast to tool repair, which only fixes the defective part, tool reconditioning rejuvenates the entire tool to bring it back to its original manufacturing standard. With each aspect restored, the reconditioned tool can perform to the same high ability as upon initial purchase. Reconditioning can add multiple use cycles to a tool, therefore reducing the required frequency of replacements. Manufacturers can maximise reconditioning by considering it from the purchasing stage, through selecting tools that have been […]

tna strengthens North African operations

Global food processing and packaging solutions provider, tna solutions, has announced the appointment of Magdy El Dessouky as General Manager for North Africa. With over 21 years’ experience in customer service and business development, El Dessouky will assume responsibility for on-the-ground customer services and technical support for Algeria, Libya, Morocco and Tunisia. This latest move forms part of a wider initiative to bolster tna’s ongoing commitment to support its customers across the Middle East and North Africa (MENA) territories. Since first joining tna in 2016 as General Manager for Australia, El Dessouky has held various key positions across Europe, the Middle East, the US, Africa and Australia, developing valuable experience along the way. In his new role, he will assist customers based in North Africa – helping them to optimise their packaging and processing solutions with the latest innovations tna has to offer. Commenting on the appointment, Mukul Shukla, General Manager-MENA at tna said: “Magdy’s appointment will lend further support to tna’s efforts to support the food manufacturing sector across the region. North Africa has shown great potential in embracing new technologies and is now ripe to establish more innovative enterprises. tna’s expansion here is just one example of how our strong trade and investment ties continue to grow, creating even more opportunities for our customers now – and in the future.” Alf Taylor, Managing Director and CEO at tna adds: “With a proven track record in technical sales and engineering, Magdy’s extensive global experience and passion for results make him the perfect candidate to offer our customers the best in high-performance, flexible and simple solutions. The food manufacturing industry is an integral part of the North African economy and Magdy’s appointment will lend further support to our initiatives to bolster growth and long-lasting success for our customers in the […]

Schaeffler starts production of 2in1 electric axles in China

Another milestone has been reached on the way to becoming a leader of innovation in electric mobility: Global automotive and industrial supplier Schaeffler celebrated the start of production of 2in1 electric axles at its production plant in Taicang, China. The electric axle system comprises an electric motor and transmission. The production start marks a further milestone in Schaeffler’s electric mobility business and is proof of the company’s successful involvement in this sector. Schaeffler attaches great importance to local production to ensure it can respond quickly to its customers’ needs around the globe. “Schaeffler is striving to become a leader of innovation in electric mobility. The volume production of our 2in1 electric axles has strengthened our position in this market,” said Dr. Jochen Schröder, President of the E-Mobility business division at Schaeffler. “With the innovative strength of a global automotive and industrial supplier and our strong expertise in industrialization, we are a preferred partner for our customers.” The 2in1 electric axle from Schaeffler: A highly efficient and compact system solution The 2in1 electric axle from Schaeffler is an electric drive solution within Schaeffler’s electric axle system product portfolio. This system integrates the reduction transmission and the electric motor into one compact unit. With an outstanding torque density of the transmission, this electric axle is characterised above all by compactness, high power density, high level of system efficiency, and superior acoustic behavior. With a modular design, it can satisfy different usage requirements and can be used for various vehicle platforms. The first Chinese car model equipped with this product will be launched in the near future. Following its market launch in China, the Schaeffler 2in1 electric axle will also be used by a European automotive manufacturer. Since establishing an independent business division at the beginning of 2018, Schaeffler’s ongoing commitment to […]

Topcast in agreement with Crouzet to supply aviation products worldwide

Hong Kong – Topcast Aviation Supplies Co., Ltd., a global leader in aircraft parts distribution and MRO services, announced today that it has extended its long-term agreement with Crouzet. Under the new agreement, Topcast is an official distributor for all Crouzet components, including switches & position sensors, electrical protection and cockpit controls, to offer globally. Topcast has been the aircraft components distributor in support of Crouzet’s business growth since 2001. Over the years of partnerships, its territory development expanded from ten Asia-Pacific countries/regions to global distribution in the immediate future. The company is committed to providing reliable and high-quality aviation supplies and MRO services to strengthen mutual business growth. “The expanded partnership is a testament to the long-standing collaboration between the two companies. We are delighted to serve our international airline customers with access to all the highly engineered Crouzet products,” said Kasper Transberg, Director of Business Development of Topcast. Over 60 years of experience, Crouzet is manufacturing the future of aerospace industry with sensors, circuit breakers, cockpit controls, actuators and instrumentation services. Crouzet Management System is certified by AFNOR according to standards that take into account Health, Safety, Environment and specific requirements of the automotive, aeronautical, defense and nuclear. Topcast was founded in 1991 and is headquartered in Hong Kong SAR, It is a world-leading trustworthy aircraft part distributor and MRO service provider. They offer exceptional OEM and aftermarket aircraft parts, equipment and repair services for a broad range of aircraft types. With a strong global network, they have nineteen offices across Asia-Pacific, Americas, Europe, the Middle East and Africa connecting suppliers with customers in all segments for over 90 countries.

CropLife Asia echoes FAO call to transform food systems

With the release of the United Nations (UN) 2021 State of Food Security & Nutrition in the World (SOFI) report, CropLife Asia highlighted the need for the region’s food value chain stakeholders to work together in transforming our food systems to better enable food security, improved nutrition, and affordable healthy diets for all. The challenge of achieving the UN’s Sustainable Development Goal (SDG) 2 of ‘zero hunger’ globally by 2030 has grown even more complicated with the broad impact of the Covid-19 pandemic. In this latest UN report, it is estimated that the number of people affected by hunger worldwide in 2020 was between 720 and 811 million people. This is a marked increase of over 100 million more people than in 2019. The prevalence of undernourishment (PoU) has also climbed up to around 9.9 percent in 2020 compared to 8.4 percent the previous year. This new report also confirms a sadly familiar refrain for Asia: our region is failing to deliver food security for far too many – particularly among the more vulnerable parts of society. Asia continues to be home to the greatest number of undernourished people with 418 million suffering from hunger in 2020. “The challenge of feeding Asia and the world requires us to explore all possible solutions. This can only be achieved through greater collaboration with others, as multi-stakeholder approaches are crucial for transformation of our food systems,” said Dr Siang Hee Tan, Executive Director, CropLife Asia. “The plant science industry champions innovation in both crop protection and plant biotech, as well as precision and digital agriculture solutions to benefit both people and the planet.” “The innovative technologies of the plant science industry have a key role to play, but it is only one part of the solution,” Dr Tan added. “Ensuring that an ample […]

The three pillars of China’s booming start-up ecosystem

Once known as the “world’s factory”, China has risen to become an economic superpower in recent decades. In fact, the nation is expected to become the world’s largest economy in 2027 in terms of nominal GDP. Aside from its sheer size, China has successfully transformed its economy from manufacturing towards nurturing an environment to enable high-tech innovations: It is home to more than 150 unicorns, leading the world in the field of AI, robotics and computer vision, to name just a few. This start-up scene wasn’t built overnight, but through decades of efforts by the Chinese government, state-owned enterprises, large corporations, universities and many more stakeholders. Here is a breakdown of the secret ingredients that have made China a tech powerhouse, through the lens of the World Economic Forum’s own community of trailblazing start-ups, this year’s cohort of the Technology Pioneers. 1. Innovation-friendly policies The Chinese government played a crucial role in laying out foundations for innovation. In 1978, Chinese leader Deng Xiaoping lured foreign investments and capital with the Open Door Policy, aimed to encourage foreign businesses to set up offices and do business in China. Alongside this policy, the government also created Special Economic Zones in four different regions, including Shenzhen, to further attract foreign business. The resulting urban growth allowed these cities to position themselves as attractive start-up hubs for the 21st century. The government also created the Chinese Government Guidance Funds to facilitate public-private investment. These funds – collaborations between central, provincial and local government – focus on investment into industries with emerging and high-potential technologies, including AI and robotics, as well as the digital transformation of traditional industries. China’s next five-year plan has highlighted industrial internet and domestic industrial software as key focus areas for government policy. As a result, regional governments are rolling out plans, supported […]

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Akamai fights fraud in APAC

Akamai Technologies, Inc. has launched its new Account Protector solution. Using proprietary behavioral analytics and reputation heuristics, the solution is designed to extend the Akamai Bot Manager solution to also detect and prevent account takeover attacks by human threat actors in real time, without increasing friction for legitimate users. The solution is integrated into the Akamai Intelligent Edge Platform instead of attached at a single point, so it requires no changes to existing applications. Businesses worldwide face the complex and costly problem of account takeover, where human threat actors seize valuable digital assets — from bank account funds to retail store loyalty points to online game rare items. Account Protector analyses requests, generating risk and trust indicators to calculate the likelihood that a user is the legitimate account owner or an impersonator. Using machine learning technology, the solution learns and self-tunes as it analyses subsequent logins for the same set of credentials. This enables legitimate account holders to access their accounts without unnecessary friction while increasing the safety of their accounts. Account Protector generates a user session risk score in real time during authentication, combining: User behavioral profiles based on signals like previously observed locations, networks, devices, and activity time. Account Protector does this while complying with data privacy laws and frameworks like GDPR and others. Population profiles that give a view of the behavior of a company’s user set. Variances in behavior can be compared to the entire population to detect anomalies, even if an individual user is logging in for the first time. Reputation data based on observed malicious activity across the network and IP, such as indications of bot activity, one user connecting from multiple locations in a short span of time, attempting to access a large number of users, and a high percentage of failed login attempts. Akamai utilizes its own vast activity […]

Topcast enters agreement with H3R for fire equipment

Topcast Aviation Supplies Co., Ltd. (“TOPCAST”) and H3R Aviation, Inc. signed a distribution aggreement offering effective aircraft fire extinguishing agents worldwide. Fire in the air is one of the most hazardous situations that pilots and flight crews can face. Without immediate intervention, a fire on board an aircraft can quickly lead to the catastrophic loss of that aircraft. H3R Aviation is the leading supplier of Halon and Halotron extinguishers, multipurpose (Class A, B & C fires) agents that chemically interrupt a fire’s combustion chain reaction. The use of halon fire extinguishers is addressed in the FAA Advisory Circular 120-80, and stresses the effectiveness of Halon, when fighting an in-flight fire. H3R Aviation fire extinguishers include Halon 1211, Halotron 1, Halotron BrX and FM-200 hand portable units, and Halon 1211, Halotron 1 and Novec(TM) 1230 wheeled extinguishers that meet DOT requirements and comply with FAA and/or National Fire Protection Association recommendations. H3R Aviation, Inc., a member of the H3R group of companies, is the largest supplier of portable clean agent fire extinguishers to the aviation industry. H3R offers the general aviation and commercial aviation markets high quality, UL Listed Halon and Halon-alternative fire extinguishers for the cockpit/cabin, cargo bay and flightline/ramp that can be found on a range of aircraft from Boeing, Bombardier, to Piper and Cirrus. Founded in 1991 and headquartered in Hong Kong SAR, Topcast is a world-leading trustworthy aircraft part distributor and MRO service provider offering exceptional OEM and aftermarket aircraft parts, equipment and repair services for a broad range of aircraft types. With nineteen offices across Asia-Pacific, Americas, Europe, the Middle East and Africa connecting suppliers with customers in all segments for over 90 countries.

Yili expands in Europe with StartLife and Cambridge’s Institute for Manufacturing

Yili, Asia’s largest and fast-growing dairy company, is officially partnering with the agri-foodtech accelerator StartLife in the Netherlands. Yili is also joining the Open Innovation Forum, an industry network for food and FMCG companies at the Institute for Manufacturing (IfM), which is part of the University of Cambridge. Through building this wider innovation ecosystem, Yili will enhance collaborations across Europe to work on the challenges faced in the food and agricultural sectors to deliver healthy solutions to consumers. The collaboration with StartLife enables Yili to tap into the innovation ecosystem of agri-foodtech start-up and scale-up companies. Together with entrepreneurs, Yili will also brainstorm and facilitate exchange of new ideas across the industry. Yili Innovation Center Europe and Startlife are both based on the campus of Wageningen University & Research at the heart of Food Valley in The Netherlands, which makes the collaboration even more appealing. Through becoming a member of the IfM’s Open Innovation Forum, Yili has a unique opportunity to collaborate with industry experts and world-leading academics, gaining access to the latest industry insights, tools and techniques. IfM’s Open Innovation Forum also provides a platform for collaboration opportunities among companies at full range of activities in the food, beverage and FMCG value chains. The Forum helps members to combine their internal thinking with external insights, ideas and paths to market, and strengthens Yili’s membership in the Corporate Venturing Leadership Forum originating from the Cambridge ecosystem as well. Through these exciting collaborations, Yili gains access to a very large ecosystem of innovative agricultural and healthy food start-ups to help overcome future challenges faced by the industry, including challenges emerging in the next decade and beyond. This will result in new win-win collaborations, such as proof of concept projects to deliver holistic solutions. Yili will be a catalyst in enabling start-ups to get access to the fast-growing […]

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