Page 169 - Industry News

India reaches out to 100 nations for ₹10 trillion shipping investment

According to a presentation made by the shipping ministry, 25 global CEOs and around 10 regional business leaders will meet the Prime Minister in October

Mfg GVA grew 11.9% in 2023-24, shows Annual Survey of Industries data

The top ten industries accounted for 71 per cent of the manufacturing GVA in FY24, with a handful - basic metals, motor vehicles, chemicals, food products and pharmaceuticals - dominating

Sentient cofounder calls for viable and decentralised open-source AI

Tyagi is a professor at the Indian Institute of Science (IISc), Bengaluru, and cofounded $1.2 billion artificial intelligence (AI) startup Sentient

Monsoon fury in North: Hospitality sector stares at revenue wipeout

Industry hopeful of revival, full festive season may not get impacted

Weighed down by 50% US levy, Indian exporters recalibrate strategy

Vinod Kumar, president of the India SME Forum, said outreach to about 100,000 members has drawn 1,035 responses, with entrepreneurs already mapping ways to cope with the tariffs

Apple ramps up India production as peak festival season approaches

Production ramps up, exports soar, and the US market takes 78% of shipments in the first half of 2025

Muted response from large lenders hinders ULI scale up, say bankers

Bankers say Unified Lending Interface growth remains muted as large lenders stick to legacy rails and land record digitisation lags

India Ratings downgrades Spandana Sphoorty's debentures, loans to BBB+

Profitability under pressure due to high credit costs

Cement prices rise sharply as fuel, gypsum costs continue to escalate

The all-India average cement price reached ₹360 per 50-kg bag in May 2025, about 8 per cent higher year-on-year after a steep decline the previous year

Drop carbonated drinks from sin goods category: beverage industry to govt

Currently, aerated beverages are classified as sin/demerit goods, leading to 40 per cent taxation (28 per cent GST and an additional 12 per cent compensation cess).

Beverage makers cite mass consumption, want 18% GST slab, no sin tax

According to IBA, the non-alcoholic beverage industry was valued at $ 49.6 billion in 2023 and is poised to grow to $ 64 billion by 2028, registering a CAGR that outpaces global averages

Steelmakers seek sevenfold rise in met coke import quota amid supply crunch

India, the world's second-largest crude steel producer, in June extended import curbs on low-ash metallurgical coke, a steelmaking raw material, for six months starting in July

E-commerce GMV set to cross ₹1.15 trn, grow 20% in festive season: Redseer

The study attributes the momentum to a combination of factors like lower borrowing costs following repo rate cuts, pent-up demand, higher disposable incomes, and improved rural earnings

Commerce ministry holds talks with exporters to counter steep US tariffs

The steep 50 per cent tariff on Indian goods entering the United States, which came into effect from August 27, would impact exports worth more than $48 billion

Govt cancels auction of 5 critical mineral blocks due to poor response

There were no bids for three blocks -- two glauconite mines in Gujarat and Chhattisgarh and one Nickel and PGE (Platinum Group Element) block in Karnataka

GST authorities uncover Rs 104 cr tax evasion in illicit tobacco trade

According to the DRI data, seizures of smuggled cigarettes have witnessed a sharp spike between 2019-20 and 2023-24, rising by over 107 per cent in volume and more than 110 per cent in value

MAI urges govt to keep movie tickets priced up to ₹300 in 5% GST bracket

The Multiplex Association of India argued that such a move will boost affordability while also helping firms expand their presence

CITI seeks govt aid to help textile exporters cope with 50% US tariffs

CITI has urged the government to extend immediate fiscal support to textile exporters hit by US tariffs, warning of risks to jobs, forex earnings and export targets

Aurobindo unit gets UK nod for biosimilar breast cancer drug Dazublys

CuraTeQ Biologics, a subsidiary of Aurobindo Pharma, has secured UK MHRA approval for its trastuzumab biosimilar Dazublys, used in HER2-positive breast and gastric cancer treatment

Decriminalising offences under Apprenticeship Act to boost skilling

Under the amended section 30, there will be advisory for first-time offenders and censure for subsequent offences, and thereafter, leading to penalties, if any