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Indian Industry
Indian industry needs to rise to the occasion and participate in the journey of achieving the vision of a developed nation at a time when the country is rolling out several reforms, Tata Sons Chairman N Chandrasekaran said on Thursday. Speaking at the symposium organised by the Indian Foundation for Quality Management (IFQM), he stressed the need for collective efforts, closely with the vision of the Prime Minister Narendra Modi in multiple dimensions to achieve the goals of 'Viksit Bharat'. "If India is to achieve its goals of economic, social, infrastructure and inclusive growth, the main purpose of Viksit Bharat, then we need to be working closely with the vision of the honorable Prime Minister in multiple dimensions," Chandrasekaran noted. He further said the country is embarking on the journey at a time when the world is going through several challenges in terms of macroeconomic stability, geopolitical conflicts, leading to supply chain issues, production issues, and mobility o
India's semiconductor market is expected to more than double to grow in the range of USD 100-110 billion by 2030 according to industry estimates, an official statement said on Sunday. The Indian semiconductor market was about USD 45-50 billion in 2024-2025 against USD 38 billion in 2023, the statement said, citing industry estimates. "As per industry estimates, the size of the Indian semiconductor market was about USD 38 billion in 2023, USD 45-50 billion in 2024-2025 and is expected to reach USD 100-110 billion by 2030," the statement said. A detailed statement highlighting the need for semiconductors, efforts of the government and response from the industry cited the crisis faced by various technology segments especially by the automobile industry due to dependency on select geographies during the Covid pandemic and stressed on the need for developing India as trusted partner in the global supply chain. "Currently, countries like Taiwan, South Korea, Japan, China and US dominate
Industry lobby CII on Sunday called for the enactment of a central legislation to guarantee time-bound delivery of services to businesses by Union ministries, with penalties for delays or deficiencies and a strong grievance redressal framework. This reform, it argued, is crucial for strengthening regulatory certainty, enhancing predictability and improving the overall ease of doing business in India. A key challenge remains the uncertainty on timelines for approval, which creates delays and cascading costs. Addressing this issue would strengthen confidence and support more timely and predictable service delivery, the Confederation of Indian Industry (CII) stated. "Despite commendable initiatives to mandate timelines in a range of areas, businesses continue to face procedural delays, regulatory uncertainty and non-adherence to timelines, significantly affecting operational efficiency and long-term investment planning. Absence of strictly enforced timelines is also felt in areas such
Consulting firm EY has launched an AI Academy to support enterprises in upskilling talent and helping them build critical AI capabilities. The move comes at a time when there is a widespread discussion about how the advent of AI can unlock potential for productivity and economic gains. A study released by EY, earlier this year, projected that by 2030, AI adoption could transform 38 million jobs, driving a 2.61 per cent productivity boost to the Indian economy through gains in the organised sector and a potential for another 2.82 per cent with the adoption of Gen AI by the unorganised sector. The report, in January 2025, stated that 24 per cent of tasks across industries have the potential for full automation, while another 42 per cent can be enhanced through AI, freeing up 8-10 hours per week for knowledge workers. In a release on Thursday, EY said: "As Artificial Intelligence (AI) and Generative AI (GenAI) continue to disrupt job roles, EY has launched AI Academy to support ...
Union Commerce and Industries Minister Piyush Goyal on Thursday asked the industry players to be bold and focus their energies on turning competitive, rather than depending on the government for support. Speaking at an event organised by the IMC Chamber of Commerce here, Goyal asked till when will the industry depend on the "crutches" of subsidies, high import duties and other similar protectionist measures. "Till when can we look up to the government (for support)? Or, till when can we win on crutches of subsidies and support, incentives, high import duties, the protectionist mindset, and being very defensive in our engagement with the world?" "We as a nation will have to decide to get out of this protectionist mindset and weak-kneed thinking", Goyal said, wondering if Michael Porter's seminal work on competitive advantage is relevant only till industry leaders are in business schools. Competitiveness will come from the industry's ability to innovate, upgrading manufacturing ...
ISRO Chairman S Somanath said on Friday that industries have a phenomenal role to play in achieving India's Space Vision 2047, rolled out by Prime Minister Narendra Modi. ISRO chairman-designate V Narayanan also echoed the same view. In his pre-recorded inaugural speech, at the biennial National Aerospace Manufacturing Seminar (NAMS) 2025, Somanath said that the industries will face significant challenges as their collaboration with the space programme is going to increase substantially. One of the challenges would be the regular production of rockets, satellites and other systems required for the space programme and the other would be engineering, manufacturing and supplying items like new space crafts and systems, miniature electronics, large propulsion tanks and engines, he said. "They have to be produced in numbers to meet the tight schedules," he added. He said the task was a huge one as the strength of the space community in the public sector was not increasing ...