Karnataka's Large and Medium Industries Minister M B Patil on Thursday said that the Indian machine tool industry is projected to generate revenue of USD 3.8 billion by 2030, driven largely by the dominance of the metal-cutting segment. Speaking at the inaugural event of IMTEX 2025, organised by the Indian Machine Tool Manufacturers' Association (IMTMA), he noted that India ranks 9th globally in machine tool production and 7th in consumption. Highlighting that the sector generated over USD 2.2 billion in revenue in 2022, the minister emphasised Karnataka's crucial role in the industry, accounting for 52 per cent of India's total machine tool production and ranking as the third-largest contributor to heavy engineering in the country. He also drew attention to Tumakuru's Integrated Machine Tool Park (TMTP), a state-of-the-art 530-acre facility that has emerged as a hub for domestic and international investments in the sector. "Karnataka is home to leading players such as ABB, Siemens
The data shows higher inflation in rural areas at 5.95 per cent, compared to 4.83 per cent in urban regions
India's industrial production grew 4.2 per cent in June this year, mainly due to a good show by the mining and power sectors, according to official data released on Monday. The factory output, measured in terms of the Index of Industrial Production (IIP) witnessed a growth of 4 per cent in June 2023. India's Index of Industrial Production increased by 4.2 per cent in June 2024, an official statement said. The data released by the National Statistical Office (NSO) showed that the manufacturing sector's output grew 2.6 per cent in June 2024 against 3.5 per cent in the year-ago month. In June this year, mining production rose 10.3 per cent, and power output increased 8.6 per cent. In the April-June quarter of this fiscal, the IIP grew 5.2 per cent compared to 4.7 per cent in the year-ago period.
Realty firm Mahindra Lifespace Developers Ltd is targeting a sharp increase in its annual sales of housing properties and industrial space to Rs 8,000-10,000 crore by 2027-28 fiscal on rising demand. Mumbai-based Mahindra Lifespace sold residential properties and industrial space worth Rs 2,698 crore in the last fiscal as against Rs 2,268 crore in the 2022-23 financial year. According to the latest presentation in an investor meet, Mahindra Lifespace has mentioned about the target to achieve Rs 8,000-10,000 crore worth of sales in the 2027-28 fiscal in its two verticals -- residential and industrial park. Mahindra Lifespace has been actively buying land and also partnering with landlords for the development of residential properties. It has also entered into the redevelopment of housing societies in Mumbai. During the last fiscal, Mahindra Lifespace reported a marginal decline in consolidated net profit to Rs 97.89 crore on lower income. Its net profit stood at Rs 101.43 crore in
Industrial and Logistics (I&L) sector leasing grew by 8 per cent YoY to touch 31.6 million sq. ft. in 2022 despite global headwinds, and a slowdown in e-commerce demand and dissipation of the post-pandemic need to hold additional inventories, a report said on Monday.
Extreme heat continued to scorch large swathes of south Asia this week, offering no reprieve after the hottest March on record in India
In May last year, IIP had shrunk 33.4% due to imposition of a nationwide lockdown to contain the spread of the Covid-19
Analysts polled by Reuters had expected industrial output contraction of 20.0 per cent in June
IIP had already shrunk by a record 16.7% in March which saw seven days of lockdown
The rise in the Index of Industrial Production (IIP) helped pull up cumulative growth in industrial output to 0.9 per cent in the April-February period of 2019-20,
From festive passenger vehicle sales to Alibaba's Singles' Day sales hitting $38 billion, here are the top headlines for the day
The rise in IIP helped pull up cumulative growth in industrial output to 0.6 per cent in the April-November period of FY20
October capital goods output down for ninth month
The data released on Monday shows that the Index of Industrial Production (IIP) fell by the highest margin since October 2011
According to the latest CSO data, IIP contraction in August has been further revised downwards to 1.4 per cent from the provisional 1.1 per cent decline estimated last month
Within manufacturing basket, capital goods logged 4.4 per cent growth whereas infrastructure and consumer non-durables registered 5.5 per cent and 10.3 per cent growth respectively