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Business Wire India - Multimedia: Digest for November 19, 2022

Business Wire India - Multimedia

Multimedia By Business Wire India
Business Wire India

L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a global leading pure-play engineering services company, today announced the inauguration of two new design and prototyping centers in Peoria, Illinois, USA, to support the digital engineering programs of customers. The two centers of excellence (CoE) will complement the existing LTTS flagship design center in Peoria.
 
The new centers- 1DigitalPlace and Electrification & Prototyping Center- will offer services in digital manufacturing and next-gen electrification solutions across the transportation, medical, and hi-tech domains.
 
The 1DigitalPlace Center of Excellence leverages next generation manufacturing technologies to enable customers redefine their product journeys – from concept development through launch. It will help drive innovative solutions across the digital manufacturing spectrum, in key areas including artificial intelligence (AI), robotics, 3D-vision systems, and connected machines. With a focus on delivering cutting-edge Manufacturing Execution Systems and enabling next-gen digital twins, the CoE's turnkey offerings will combine insights from the voice of the customer with LTTS' state-of-the-art design, simulation, proof of concept and prototyping capabilities.
 
The Electrification & Prototype center is a state-of-the-art turnkey design facility providing services across the value chain. Powered by the latest in production automation technologies, LTTS' newest CoE is capable of enabling the entire spectrum from conception through schematics, to physical prototype harness development in HIL test benches. It is helping expand and deepen our industry-leading expertise across electrification, UAVs, marine engineering solutions, and autonomy for end-to-end support. The CoE's rapid turnaround time, global engineering teams, ISO9001-certified quality and testing capabilities, and no Minimum Order Quantity requirement will help drive a significant reduction in customer lead times and deliver enhanced project outcomes.
 
The fundamental objective of setting up the new centers is to develop a strategically located team capable of designing, constructing, and implementing manufacturing, quality operations processes and systems. LTTS' customers stand to benefit from an enhanced experience paradigm focused on next-gen manufacturing technologies. As part of the planned expansion of the Peoria design center, LTTS plans to hire more than 500 engineers over the next 36 months.

LTTS' expanded Peoria engineering hub will serve as a platform to provide services for all embedded software and hardware-based solutions, besides enabling next-gen process analytics solutions leveraging the best of AI, ML, Preventive & Predictive Maintenance capabilities. The center will act as a hub to attract and hire local engineers to fulfill existing and future customer requirements.
 
The Electrification and Prototype Center was unveiled by Mr Tim Graham of Caterpillar, Mr Darin Morman of Collins Aerospace, Mr John Kahl – Mayor of East Peoria, Mr Pari Natarajan of Zinnov, Mr Amit Chadha, Mr Bhanu Gopalam and Mr Robert Martin of LTTS. The 1DigitalPlace was inaugurated by Mr T. D. Bhutia, Deputy Consul General, Consulate General of India, Chicago, Mr William Strnad of Polaris, Mr Rajeev Gupta, Mr Alind Saxena and Mr Rodney Duran of LTTS.
 
Commenting on the inauguration, Congressman Darin LaHood, U.S. Rep. for the State of Illinois said, "Our community is excited to hear the announcement by LTTS to expand in the City of Peoria, which will help further boost our technology ecosystem and also help create more jobs and opportunities in engineering and allied fields. Thank you for your investment in Central Illinois and promoting innovation and technology across our region."
 
John Kahl, Mayor of East Peoria said, "It is heartening to see engineering and technology providers like LTTS setting up their base in Peoria and further cementing the region's reputation as a technology and innovation hub. On behalf of the People of Peoria, I Congratulate LTTS on the establishment of the new digital centers and look forward to a fruitful engagement with them, benefiting the local economy and community."
 
His Excellency Taranjit Singh Sandhu, Indian Ambassador to the United States commented, "I would like to congratulate L&T Technology Services for the new engineering facilities in Peoria, Illinois. This is an exciting moment for LTTS and the engineering & technology sector in Illinois. LTTS' contributions in U.S. demonstrates the power of Indian companies to add value, competitiveness and skills in the US as well as enrich the local community. I wish LTTS all success!"
 
Amit Chadha, CEO & Managing Director, L&T Technology Services said, "We have set-up our two new facilities with an endeavor to serve our global clientele more closely located to their base locations. The center will leverage LTTS' domain expertise in areas like Digital Manufacturing, Electrification and Sustainability and play a vital role in creation of new offerings, innovations and technologies for global customers."
Business Wire India

Imaginarium, India's premier advanced manufacturing ecosystem, becomes the value-added distributor of Formlabs, a leading global high-performance 3D printer manufacturer.

Formlabs is the professional 3D printer of choice for engineers, designers, manufacturers, and decision makers around the globe. As a driving force of additive manufacturing adoption across the globe, Formlabs has created an ecosystem of software, hardware and qualified applications for a range of industries. With a material library of over 30 resins and powders, Formlabs caters to a melting pot of industries across the world, ranging from healthcare and dental to engineering and jewellery. Known for their iconic desktop SLA 3D printers, Formlabs has recently launched its successful desktop SLS manufacturing solution known as Fuse 1 and Fuse 1+. Through this new partnership, Imaginarium and Formlabs will enable a new age of additive manufacturing technology adoption.

Imaginarium's vision is focused on evangelising the manufacturing landscape in India; enabling the country to become a powerhouse of advanced manufacturing. To facilitate this vision, Imaginarium is fostering partnerships with leading 3D printer manufacturers across the globe, creating a gateway for innovation and technology-advancement. Imaginarium's commitment to end-use, high-quality, precision manufacturing has crowned the Indian born brand as a leading global digital manufacturing company.

Michael Agam, General Manager of the APAC region for Formlabs has stated, "We are thrilled to announce Imaginarium as a value-added distributor of Formlabs. Imaginarium has distinguished itself as a leader in the additive manufacturing industry by pioneering ground-breaking applications and processes for a host of industries. Imaginarium's continued commitment to enabling the adoption of additive manufacturing is a vision we believe in and wish to facilitate. Through this VAD, Imaginarium and Formlabs will facilitate an industrial manufacturing revolution to enable on-demand, localised, end-use manufacturing."

Imaginarium is utilising Formlabs' Manufacturing Solutions to cater to a variety of industries across the world. Imaginarium's most recent technology addition is the flagship SLS Fuse 1+ ecosystem, enabling end-use manufacturing of industrial grade parts for industries such as automotive, healthcare and aviation.

Imaginarium's extensive 15+ years of experience in this field is propelling India to become a leader in advanced and digital manufacturing. Aashay Mehta, Managing Director and Co-Chairman of Imaginarium has stated, "We are ecstatic to become a value-added distributor of Formlabs. This partnership will enable India to leap in its democratisation of additive manufacturing. The India of today, offers a great landscape and growth opportunity to accelerate industry 4.0. We are excited to bring Formlabs' cutting-edge solutions to the Indian subcontinent, empowering customers to qualify new applications of AM for all industries."

Imaginarium and Formlabs together will educate and develop partners to be able to resolve customer demand for manufacturing across key industries and applications, highlighting key benefits such as but limited to, industrial-grade standards, rapid innovation, material flexibility and on-demand, localised manufacturing. With a focus on accelerating and empowering India's ambition needs, Imaginarium is committed to manufacturing a new future for India.

To read more about Imaginarium and Formlabs' offerings, please visit the website here.
Business Wire India

With the recent developments happening around Cryptos globally it's a very crucial time for India to have a policy framework for regulating cryptos with G20's Presidency the time couldn't have been better. Recently, our FM spoke about coming together with the G20 countries around crypto and regulating it together which seems to be quite a decent development in India's stance on crypto currencies. However, there's been a lot of things which happen with The draft Cryptocurrency and Regulation of Official Digital Currency Bill, 2021.
 
We are yet to decide on our fate on whether we join the league of countries like China, Thailand, Indonesia and Taiwan who have banned its use as against countries like Canada, Japan and USA who have proper laws regulating its usage & penalties for misuse. While the RBI and other global regulators like IMF have acknowledged the benefits of DLT (Distributed Ledger Technology) underlying cryptocurrencies, India can learn something from its Asian counterpart, Japan, which has some of the best crypto laws in the world. Recently published White House paper clearly demonstrated and outlined "How United States can strengthen its financial domination by using Digital Currencies and Assets to its advantage." Currently, the US has become again the dominant force with clear laws and regulations which helped them becoming #1 again in the digital Web3 world.
 
Institutions in India have shifted grounds on crypto many times with the RBI banning lenders from dealing with crypto exchanges way back in 2018, a move that was quashed by the Supreme Court in 2020 on the grounds of an Unethical violation of Fundamental basic rights.
 
While the global divide hardens on the issue- on the one hand, we have countries where crypto assets are becoming a part of the mainstream financial system and on the other hand, we see higher walls being constructed to save the citizen from its volatility. Currently, India is home to the largest crypto community in the world with over 50M+ users and billions of dollars of assets held by Indian investors. Unclear laws have resulted in a massive migration of India's talent and opportunity to nations like UAE, US and EU. India can increase its financial dominance by using digital assets and regulating it. India has committed several such mistakes in the past and lost technology dominance to other nations. With Web3 a new revolution on its way India with its unclear stance might lose its dominance over it as well.
 
"Today, entire traditional and commodities market is driven by speculations and unethical practices there have been and will be several fiascos but it doesn't mean we won't be progressive. India's been progressive and that progressiveness should also reflect in new asset class such as Cryptos. With this we see markets and investor protection laws getting matured over time, it's a journey and process," said Prashant Surana Jain, co-founder Snapper future tech & Cryptoforce.in
 
Our panel of esteemed speakers includes Smita Sharma a renowned independent media journalist, Dr. Zaki Qureshey founder and Director General of Hyderabad Cyber Security cluster, Meghna Bal fellow Esya Centre and Prashant Surana Jain Co-founder Snapper Future tech and Cryptoforce. The esteemed panel will discuss the virtues of the suggested ban and whether it will be effective technologically and fruitful in the long run.
 
Link for the webinar: https://kautilya.org.in/decrypting-crypto-how-should-india-regulate-cryptocurrency/?utm_source=linkedin

Time and Date: 21st November, 7-8 pm IST
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