Page 627 - Industry News

PLI schemes attracted over Rs 95,000 cr investment till Sep 2023: Centre

According to the Commerce and Industry Ministry, as many as 746 applications have been approved till November 2023 under these schemes

Godrej Properties sells more than 600 flats for Rs 2,600 cr in Gurugram

During April-September 2023-24, Godrej Properties achieved 48 per cent growth in its sales booking to Rs 7,288 crore as against Rs 4,929 crore in the year-ago period

Eight out of ten fliers faced issues with Indian airlines, says survey

Major challenges identified include issues with in-flight services, boarding, check-in, baggage procedures, and poor aircraft interiors, including seats

Indian poultry industry revenues to grow by 8-10% in FY24, says report

The revenue growth expectations of the domestic poultry industry are likely to be at 8-10 per cent in FY24, which will be led by significant volume expansion and improving share of organised players

Gross leasing of office space up 12% this year across 6 cities: Savills

"Mumbai saw record leasing activity at 10.1 million square feet owing to large transactions by tech and consulting occupiers," Savills said

Oil extended gains as investors eye Middle East tensions, US rate cut

While hopes of rate cuts and conflict in the Red Sea have led to a rebound in crude prices, Maersk's announcement of a restart of shipping routes through the waterway has alleviated supply concerns

India, Oman free trade agreement likely to be inked next month: Official

Officials of the two countries concluded the second round of talks for the pact, officially dubbed as Comprehensive Economic Partnership Agreement (CEPA) earlier this month in Muscat

Payment woes delay supply of Russian Sokol oil crude to India: Report

IOC is the only state refiner that has an annual deal to buy a variety of Russian grades, including Sokol, from Russian oil major Rosneft. Sokol oil is supplied to IOC by Sakhalin-1 LLC

Operating profit of offshore rig operators may jump 30% in FY25: Report

According to Naveen Vaidyanathan, a director with Crisil, higher day rates will benefit domestic rig operators as existing contracts with lower rates get reset with higher-priced contracts

Indian businesses gearing up for responsible AI adoption: Nasscom

About 30 per cent reported having basic awareness of RAI imperatives without a formal strategy or framework, the report said citing the early insights on the state of RAI in India

Shrinking market share, govt pressure trouble Chinese smartphone makers

Chinese smartphone brands are fast losing market share in Europe, North America, and Japan. On the other hand, Apple and Samsung have grown as people increasingly prefer premium devices

DPIIT working with 24 sub-sectors to promote manufacturing, cut imports

The commerce and industry ministry on Tuesday said that since its launch, 'Make in India' has made "significant" achievements and is now focusing on 27 sectors under 'Make in India 2.0'

Renewable energy investments in India to jump 83% to $16.5 bn in 2024

Apart from solar and wind energy, India has increased its focus on green hydrogen in a big way to reduce dependence on fossil fuels, mainly diesel, which is required for long haul vehicles

Establishment of aviation ombudsman needs deliberations: Aviation secretary

Airlines free to charge fees for preferential seats during web check-in: Aviation secretary

Telcos likely to show little interest in upcoming spectrum auction

The telcos already have ample spectrum with them. With little scope for 5G monetisation, telecom companies do not see the need to spend towards acquiring more spectrum

Govt envisions PLI 2.0 for steel sector in 2024; curbs on imports awaited

India has set a target of having an installed steel manufacturing capacity of 300 MT by 2030. At present, the country has a capacity of around 161 MT

All-weather licence to Donyi Polo airport in Itanagar; night landing soon

The Donyi Polo airport in Itanagar, the first greenfield airport in Arunachal Pradesh, was inaugurated by Prime Minister Narendra Modi in November 2022

Whisky woos young Chinese as top distillers target growing market

On a recent Friday night at a bar in Beijing, 28-year-old Sylvia Sun, who works in the music industry, was enjoying a whisky on the rocks

Sportswear brands ride the athleisure wave, double India biz in two years

Puma, Decathlon, Adidas, Skechers, and Asics have registered growth in the range of 35 to 60% year-on-year since the financial year 2020-21 (FY21)

SRK, smartphone & Scale: Box office booms for entertainment, OTT in trouble

Media & entertainment has done very well in the physical world. It is the virtual one that is in trouble