Page 5 - Industry

Govt working on 1st ever 'cost of regulation' study for states: DPIIT secy

DPIIT has created a dataset to let the States know how some of the areas may be affecting them in terms of their 'business-friendly reputation'

Tajpur port project: Adani awaits LoA, Bengal seeks clarity on MHA nod

West Bengal Industry Minister, Shashi Panja, said that there was a provisional letter of intent (LoI), which was given to APSEZ (Adani Ports and Special Economic Zone) last year

Festival gold rush widens India's trade deficit to new high in October

The services exports in October were valued at $28.70 billion as compared to $29.37 billion in September and imports were $14.32 billion against $14.91 billion in the previous month

Adityanath govt pitching for 'Make in UP' in the growing aviation sector

Leading Indian and foreign companies, including from the US, have shown interest in setting up their manufacturing and assembly units in UP

This season may see wedding business worth Rs 4.25 trillion in just 23 days

3.5 million weddings are expected to take place between November 23 to December 15, with a majority of people spending on average Rs 10 lakh per wedding, says a survey by traders body, Cait

Big Four accounting firms make $4 bn from India biz; expand into consulting

The Big Four have overhauled their operations over the past few years to gain a wider share in the high-demand advisory and technology services firms

India can become first country to industrialise without carbonising: Kant

With ideal weather conditions, India can redefine its growth model to become the first country in the world to industrialise without carbonising, G20 Sherpa Amitabh Kant said on Thursday. Speaking at an event in the national capital, Kant also expressed confidence that the country, which has a young population, will grow at higher rates. According to him, the world is open to India and there is no reason why the country should not grow at higher rates. Highlighting the importance of going green, Kant said that otherwise countries will "neither be able to export to the markets and this is all going to happen before our eyes in the next 5 years." At the SHRM India Annual Conference 2023 here, he also said that India has ideal weather conditions and can go green to redefine its growth model "to become the first country in the world to industrialise without carbonising". During a discussion on his book 'Made in India: 75 Years of Business and Enterprise,' Kant said, India is the only

Indian auto sales surge 20% in September, despite slump in tractors

Positive market sentiment fuelled by favourable monsoon leads to growth in most categories, but high inventory levels raise concerns for dealers as festive season approaches, FADA data shows

Office space demand dips 4.5% in 2023 as compared to last year: Colliers

Bengaluru and Delhi-NCR led the demand, accounting for nearly half of the total demand for office space in India till September

No incentives for industrial units that do not have 80% locals: Himachal

Industrial units not abiding by the government's directive to have 80 per cent locals in their workforce will not get any incentive, Himachal Pradesh industry minister Harshwardhan Chauhan said on Friday. About 81 per cent of Himachalis are working in the 27,719 industrial units functional in the state. At present a total of 2,28,977 workers have been employed in these units, out of which 1,86,289 workers are from Himachal, Chauhan informed the state assembly while replying to a question of K L Thakur (MLA from Nalagarh) and Inder Dutt Lakhanpal (MAL from Barsar). He said that 80 per cent bonafide Himachalis would be engaged in the industrial enterprises as per the criteria of Himachal Pradesh Industrial Investment Policy-2019. The percentage of Himachalis is 72.60 per cent in Baddi Barotiwala Nalagarh industrial area where 94,560 workers are working in 2,714 industrial units, he added. Hoshyar Singh, independent MLA from Dehra, said that the locals are not given employment in the

India Canada row: Tech industry says no immediate areas of concern

The escalating tensions between India and Canada have put Indian IT companies in a wait-and-watch mode but industry experts believe that there are no immediate areas of concern at this moment. Apex IT association Nasscom, in a statement, said since this is an evolving situation, it will continue to engage with stakeholders to track any potential areas of impact that may need support. "We are in close touch with our members in Canada, and as per their feedback, there are no immediate areas of concern," Nasscom said. The comment comes in the backdrop of an intense diplomatic row that erupted following Canadian Prime Minister Justin Trudeau's allegations of a "potential" involvement of Indian agents in the killing of a Khalistani separatist in June. India has rejected the charge as absurd. India on Thursday "suspended till further notice" its visa services in Canada. The Indian tech companies, including IT services biggies, have operations and business linkages in Canada, where they

Cadence Design Systems: Powering semiconductors, behind the scenes

Globally, Cadence has about 11,000 employees, one-third of whom are in India. Its second largest R&D centre is also in Noida

Power cuts take a toll on industrial production, consumers in Rajasthan

The demand for electricity has increased in the state due to inactive monsoon during the last few days

RBI move focused on taming inflation, supporting growth: Industry groups

RBI has kept the policy rate unchanged at 6.5 per cent

Proxgy Unveils a New Sound Box - AudioCube & trade Mini

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'Maa Ka Doodh' Film Screening by Animal Save India Draws Crowds at LTG Auditorium, Delhi, Prompting Deep Reflection on Food Choices

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Unveiling "The Art of Adaptive Leadership": A Sneak Peek into Dr. Rajesh's Envisioned Masterpiece

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All industrial licences issued under IDR Act will be valid for 15 yrs

The government on Monday said that all industrial licences issued under the IDR Act will now be valid for 15 years as against three years with a view to promoting ease of doing business. The Industries (Development and Regulation) Act deals with issuance of licences to industries. "In supersession of all earlier Press Notes, the period of validity of industrial licence is being extended from three years to fifteen years for all kinds of Licenses henceforth to be granted under IDR Act in line with the validity of licenses being issued for defence items as a measure for ease of doing business," the Department for Promotion of Industry and Internal Trade (DPIIT) said. Streamlining the procedure for grant of industrial licences, the DPIIT said an extension of three years may be granted by the concerned ministry as per specified guidelines. These guidelines are applicable for extension of validity of the licence in cases where the existing licence holder has not commenced production of

Drone-as-a-service model gains traction with clients across industries

The global drone market was valued at $30.03 billion in 2022

Edible oil imports up by 39.31% to 13.11 lakh tonnes in June on high demand

India's import of edible oils grew by 39.31 per cent in June to 13.11 lakh tonnes compared to the same month last year due to increased demand, industry body Solvent Extractors' Association of India (SEA) said on Friday. Edible oil import in June 2022 stood at 9.41 lakh tonnes, SEA said in a statement. The overall imports of vegetable oils (edible and non-edible) grew by 49 per cent to 13.14 tonnes in June compared to 9.91 lakh tonnes in the corresponding month last year. The imports consisted of 2,900 tonnes of non-edible oils which are mainly imported by soap and oleo-chemical industries. With a sharp reduction in domestic prices of edible oils, demand has returned which is evident from the rising import in spite of better domestic availability, the SEA added. The import of crude palm oil recovered to 4.66 lakh tonnes in June compared to 3.48 lakh tonnes in the previous month. The import of RBD Palmolien jumped to 2.17 lakh tonnes from 85,000 tonnes in the previous month, ...