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BusinessLine 20 years ago today: Arianespace to team up with ISRO to gain edge

DECEMBER 12 | Updated on December 16, 2018 Published on December 16, 2018

 

 

Arianespace, the European space transporter, and the Indian Space Research Organisation (ISRO) will jointly bid to launch micro- satellites and gain a major share in this increasing global market segment. The move is part of Arianespace's strategy to shift to the more lucrative market of launching heavier satellites. Its latest launch vehicle — Ariane 5 — has capabilities to place over five-tonne payload satellites and potential to go up to 12 tonnes in the near future, explained its Director, Sales and Marketing, Mr. Didier Aubin.

Simplified excise levy scheme for fabrics

The Government has notified a simplified excise levy scheme on different categories of processed fabrics in place of existing ad valorem based levy, ending a persistent source of harassment on processed fabrics units in the country. Announcing this, the Union Textile Minister, Mr. Kashiram Rana, said excise levy for the different categories of processed fabrics has accordingly been pegged at a monthly rate of ₹1.5 lakhs per chamber per stentor in case of processed fabrics of average value not exceeding ₹30 per square metre.

Rolls-Royce in talks with HAL

UK major Rolls-Royce is in talks with HAL to set up a joint venture in India, to manufacture engine parts for its global customers. The HAL Chairman and Managing Director, Mr. Krishnadas Nair, confirmed to Business Line that the two may be able to come to an understanding during the first quarter of 1999. Earlier, officials of the two companies explained that they were looking at the possibility of setting up a Centre of Excellence in Bangalore to co-produce engine products.

Published on December 16, 2018
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