Page 2 - Industry

The VC Fellowship (HireVC) Hosts Its Inaugural Annual Flagship Event, SYNC

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Sector Watch: From tech to auto, how the Budget affects key sectors

Broadband connectivity to all government secondary schools and primary health centres

Global majors to power Tamil Nadu's Rs 42K crore green hydrogen hub

Firms may soon get formal letter of award for South India's only hydrogen hub at VOC Port; Pilot project to be operational by mid-February

Govt introduces Diamond Imprest Authorization scheme to support exporters

This move comes in response to policies in diamond-producing countries like Botswana and Namibia, where manufacturers must process diamonds locally

Domestic composite materials industry to touch $2.8 bn mark by 2030: Report

Domestic composite materials industry is expected to grow at a 7.8 per cent annual growth rate to reach USD 2.8 billion by 2030, a report said. Composite materials or fibre-reinforced plastics (FRP) help in the circular economy as these are manufactured by combining multiple materials with different properties. The Indian composite materials market is estimated at USD 1.8 billion in 2024, FRP Institute said in its report. "The Indian composite materials market is likely to grow at a healthy CAGR of 7.8 per cent over the next six years to reach USD 2.8 billion in 2030," the Chennai-based body said. The major growth drivers for the industry will be increasing demand from sectors like electrical vehicles (EVs), renewable energy, transportation and construction industries, consumer and white goods, construction and defence. Government projects like smart cities, hydrocarbon, freshwater transportation, sewage treatment system, and rehabilitation of water and sewage pipelines will also

Bollywood dims as streaming platforms steal the spotlight, TV rights fall

Satellite TV rights for Hindi films have plummeted by over 50 per cent as streaming platforms surge, reshaping the market; producers face tougher competition, with TV's viewership also declining

Industry seeks tax relief, capex boost, reforms at FinMin's pre-budget meet

Industry representatives stressed that, given the uncertainty caused by persisting global headwinds, government's focus on public capex in physical, social, and digital infrastructure will be crucial

Indian startups to boost hiring by 20-30% in 2025 as funding improves

Indian startups are set to ramp up hiring by 20-30 per cent in 2025 as funding improves, reversing a prolonged slowdown. Layoffs dropped 46 per cent YoY in 2024, signalling sector recovery

Netflix, Amazon oppose Trai's bid to regulate content delivery networks

Streaming giants Netflix, Amazon, and other industry bodies oppose Trai's proposal to regulate content delivery networks, warning it could affect investments and harm India's digital economy

Industry must realign itself with political, strategic policies: Sitharaman

Finance Minister Nirmala Sitharaman on Wednesday said the industry will have to realign its policies keeping in mind political and strategic decisions of the country. Outlining the priorities of the economy for the next decade, Sitharaman also said attempts should be made to restore global calm and normalcy and noted that war or any form of disruption should be avoided. Sitharaman said the economy has to "clawback" more to regain its strength after the Covid pandemic and any skirmish or war will impact the supply chains and food value chains. "The world is facing challenges which are reflected in the economy," the Minister said at the CII Global Economic Policy Forum here. Talking about ways to tackle supply chain disruptions, Sitharaman said currently there is a need to blend economic priorities with politics and strategic needs. "When we talk about restoring supply chains to frictionless supply chains, let's not forget it's not just economics, it's more than that... We have to b

GST hike on apparel could shut MSMEs, lead to 100,000 job losses: CMAI

The CMAI said that the proposed GST rate revisions pose a significant threat to the apparel industry, which is facing challenges like drop in consumer demand, profit erosion and working capital issues

Why Indian airlines can't raise fares despite soaring passenger demand

Despite soaring passenger numbers, Indian airlines can't raise fares due to fierce competition, rising costs, and price sensitivity, leaving them struggling to stay profitable

90% of Indian firms mandate office work, surpass global average: JLL report

Indian firms lead in-office work trends with 90% requiring more than three office days weekly; over 54% of Indian companies expect an increase in office attendance by 2030, compared to 43% globally

Tech layoffs fall in October as IT industry shows signs of stabilising

October's layoff numbers reveal a continuing decline, maintaining the trend established in previous months and marking one of the lowest points for layoffs since 2023

HP govt to ensure 80% employment to locals in industrial units: Minister

The Himachal Pradesh government is ensuring that Himachalis are provided employment in all industrial, power and tourism units in the state, Industries Minister Harshwardhan Chauhan said here on Friday. Presiding over a review meeting of the labour and employment department here, Chauhan reiterated the resolve of the government to accelerate the pace of development and instructed the director of labour and employment to ensure 80 per cent employment to Himachalis in industrial units in the private sector, an official statement said. Expressing satisfaction over the digitisation of 100 per cent employment exchanges of the state, he said that the registration and renewal can now be done online and private employers can upload the details of vacancies in their organisations on the 'eemis' portal. Chauhan added that at present, 567 private organisations are registered on this portal. An amount of Rs 16.83 crore has been provided to 18,404 beneficiaries of the unemployment allowance sch

DoT pushes local manufacturing with new procurement clause for 5G gear

As Indian companies enhance the capacity to manufacture 5G technology products at scale, they will be prioritised for 'Make in India' procurement orders, ensuring these goods are sourced domestically

PE investments in Indian real estate sector decline 4% in H1 FY25

The decline is said to be mainly due to a 79% drop in investments in the office sector

How fate played a role in Ratan Tata becoming a global business icon

Ratan Tata, the former chairman of Tata Sons, passed away on Wednesday at the age of 86 in Mumbai. Under his leadership, the Group transformed from an Indian-focussed entity to a global powerhouse

Industry upbeat on policies as biz confidence index at 2-qtr high: CII

The industry is buoyed by policy continuity as the CII Business Confidence Index soared to a two-quarter high of 68.2 for the July-September period this fiscal, the lobby grouping said in its first survey after the Lok Sabha polls. The 128th round of the CII Business Outlook Survey was conducted in September 2024, covering more than 200 firms of varying sizes across all industry sectors and regions. Economic momentum has gained speed post the general elections, the industry body stated. India's economic growth has held up well despite global challenges, CII said, asserting that the upcoming festive season portends well for fortifying growth prospects further. However, it cautioned that the "uncertainty in the global scenario persists, necessitating a careful watch on the evolving economic conditions". A few niggling business concerns have been highlighted by the respondents in the survey, with protracted geopolitical tensions, spike in global commodity prices and slowing external

Delhi govt to launch facility for quick clearance of investors' application

The Delhi government will next week launch a single window facility for faster clearances of investors' applications, boosting ease of doing business in the city. The beta version of the single window system will be launched by Industry Minister Saurabh Bharadwaj on Monday, said a government statement. "The platform aims to streamline pre-operation approvals, reduce compliance, promote sector-specific reforms, shorten project timelines and enhance ease of starting and doing business in Delhi," Bharadwaj said. The portal will help realize objective of speedy processing of clearances and providing investor-friendly environment to business, he added. So far, 59 services across 12 stakeholder departments have been onboarded on the platform. Specifically, 37 services from seven departments namely labour, MCD, Delhi Pollution Control Committee, weights and measures, DJB, power discoms and industries were onboarded on the single window system in the first phase of the plan, the minister