Policy balance
The recent appointment of Sanjay Malhotra as Governor of the Reserve Bank of India (RBI), replacing Shaktikanta Das, signals a pivotal shift in India’s monetary policy dynamics.
The country’s largest automobile manufacturer by volume Maruti Suzuki India (MSIL) has entered into an arrangement on Saturday with AgVa Healthcare, to scale up the production of ventilators.
At the request of the Government of India, Maruti Suzuki India Limited (MSIL) examined its ability to assist in the production of ventilators, masks and other protective equipment and mobilised production of ventilators, masks and personal protective equipment (PPE) to support India’s preparation against COVID-19, the company said in a statement.
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AgVa Healthcare is an existing approved manufacturer of ventilators. Under this arrangement, the company intends to reach a volume of 10,000 units per month. “AgVa Healthcare would be responsible for the technology, performance and related matters for all the ventilators produced and sold by them”, the company said in a statement.
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MSIL would use its suppliers to produce the required volume of components and use its experience and knowledge to upgrade systems for the production and quality control of the higher volumes.
MSIL would also help to arrange financing and obtain all permissions and approvals required to enable the higher production and these services are free of cost to AgVa Healthcare.
In another development, Krishna Maruti Limited, a joint venture of MSIL with Ashok Kapur, would be manufacturing 3-ply masks for supply to the Haryana and Central governments.
“The production is expected to start as soon as all approvals are received. Mr Ashok Kapur will provide 2 million masks free of cost as his own contribution,” the statement said.
Besides, Bharat Seats Limited, a joint venture of MSIL with the Relan family, would be manufacturing protective clothing “as soon as all approvals are in place”.
“All manufacturing units would take maximum care to protect the safety and health of the workers in accordance with the government recommended practices,” the statement said.
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