Page 4 - Indian Industry

Credit to industry up 12.6% YoY in September; touches 100-month high

Apart from base effect, credit to industry got a big boost from MSMEs; among sectors, petroleum, gems & jewellery, engineering, iron & steel, and construction were key drivers

Jamshed Irani: Architect of post-lib Indian industry and 'New Tata Steel'

Irani transformed Tata Steel totally to make it the world's lowest-cost steel producer by 2001, completely revamped technology and used his phrase "Customer Har Haal Me" to augment user delight

PM Modi pitches for promotion of indigenous products, self-reliance

Prime Minister Narendra Modi on Wednesday emphasised on promoting indigenous products and self-reliance for prosperity, and said by adopting them, one can keep the art, culture and civilization of India alive. Addressing a gathering to mark the 150th birth anniversary of Jain saint Vijay Vallabh Surishwar via video conference, he said the message of 'swadeshi' and self-reliance is extremely relevant in the "Azadi ka Amrit Kaal", a reference to the period till 2047, for India to become a developed country. A commemorative postage stamp and coin dedicated to the saint was also released on Wednesday. Paying tributes to the saint, Modi said when the world is experiencing the crisis of war, terror and violence and is looking for inspiration to break out of this vicious circle, ancient traditions and philosophy coupled with the power of today's India is turning out to be a big hope. He said the path shown by Surishwar and the teachings of Jain gurus is the solution to these global ...

Indian industry ready to catch momentum of country's growth: Ficci official

The Indian industry is ready to catch the momentum of the country's growth story and be a part of its march to 2047 to become a developed nation, a top industrialist has said. In an interview to PTI, Subhrakant Panda, senior vice president of the Federation of Indian Chambers and Commerce and Industries (FICCI) said India has emerged as a bright spot in the world economy. There is no doubt that the Indian economy would easily surpass the goal of USD 5 trillion and then USD 10 trillion GDP, Panda told PTI, asserting that experts and economist are now talking about the country becoming a USD 30 trillion or USD 35 trillion economy. There are many assumptions and factors which go into deriving those numbers, but I think what is very clear is the direction of growth and the sustained reforms, which are going to take us in that direction of growth, he said. From an Indian industry perspective, are we ready for it? Yes, I think we are. Because this is a huge opportunity which awaits us. I

FinMin seeks trade, industry suggestions on taxes for 2023-24 Budget

Kickstarting stakehoder consultation for 2023-24 Budget, the finance ministry has sought suggestions from industry and trade associations regarding direct and indirect taxes. Along with the suggestions, the industry has to submit justification for their demand which, if found with merit, could become part of the Union Budget for 2023-24 (April-March), to be tabled in Parliament on February 1, 2023. The deadline for sending suggestions for changes in the duty structure, rates and broadening of tax base on both direct and indirect taxes is November 5. "In the context of formulating the proposals for the Union Budget for 2023-24, the Ministry of Finance would like to be benefited by the suggestions and views of your association," the ministry said. It said that since the government is working to phase out tax incentives, deductions and exemptions while simultaneously rationalising direct tax rates, the industry should point out 'positive externalities' arising out of the ...

India has potential to lead fourth industrial revolution: PM Narendra Modi

Prime Minister Narendra Modi on Friday said India has the potential to lead the fourth industrial revolution and the government has worked on reforms to make the country a manufacturing hub of the world. He said that the fourth industrial revolution is as much about new technology, as it is about innovative thinking. "Due to various factors, India may have missed being a part of earlier industrial revolutions. But India has the potential to lead Industry 4.0, because, for the first time in recent history, we have many different factors like demography, demand and decisive governance coming together," he said through a message. The Prime Minister's message was read by a Joint secretary of the Ministry of Heavy Industries here at the conference on Industry 4.0. Modi added that the industry and entrepreneurs play a key role in making India a vital link in global value chains. "We have worked on reforms and incentives to make India a tech-powered manufacturing hub of the world," he ..

Quality will define India in time to come, says Union Minister Piyush Goyal

Union Minister of Commerce and Industry Piyush Goyal asked the Quality Council of India to strive to bring about a convergence of all the various quality and standards organizations in the country

From stubs to soft toys, this Indian factory reprocesses cigarette ends

The material is composed of cigarette stubs, separated into fibres and cleaned and bleached after being gathered from the city streets where they had been discarded along with millions of others

Adani Enterprises announces establishment of two new subsidiaries

While Adani Disruptive Ventures aims to partner with businesses looking to create solutions through disruptive technology, Alwar Alluvial Resources will be engaged in minerals processing

Raghupati Singhania receives PHDCCI lifetime achievement award for 2022

The event felicitated industry stalwarts for transforming society, helping improve the community, setting entrepreneurship benchmarks, and demonstrating exemplary leadership qualities

Industrialists leaving India due to Centre's policies: Telangana CM KCR

Telangana Chief Minister K. Chandrashekar Rao slammed government's policies due to which industrialists are leaving the country and the value of the rupee against the dollars is at all time low

India at 75: These pre-independence companies thrived in independent India

These companies that operated under the constraints of British rule before 1947 helped India become self-sufficient in various sectors after independence

As states compete for investments, Gujarat's industrial clout keeps growing

Its lead in adding factory assets has widened even as states like Tamil Nadu do better on other parameters in nationwide competition for investments

Consumers compelled to buy coal at high prices to keep plants running: CCAI

The statement comes amid certain parts of the country witnessing power outrages in the wake of fuel shortages

Heat wave disrupts industrial activity as power demand soars in India

Extreme heat continued to scorch large swathes of south Asia this week, offering no reprieve after the hottest March on record in India

India's industrial activity expected to pick-up: Crisil Research

India's industrial activity is expected to gather pace in the coming months owing to a gradual pick-up in consumption as well as investment demand.

Modi govt's pro-rich policies favoured select group of industrialists: Cong

The opposition party also demanded that the Centre provide tax reliefs to people on the lines of concessions granted to corporations

Global capability centres bet big on Indian talent to drive operations

The GCC sector comprises over 1,300 global organisations, which employ more than 1.3 million people

Covid-19: Introduce 'work from home' to break the chain, says CII chief

Several companies have already announced WFH even as several key cities like Mumbai, Delhi and Bangalore go through a massive healthcare crisis due to lack of oxygen, doctors and medicines

Industry ready to strengthen capacity, back-end infra despite second wave

Several industries have shown confidence in the economy's recovery prospects and said the capex cycle is reviving