Page 14 - Manufacturing Sector

IIP growth up just 1.7% compared to pre-Covid periods, manufacturing lags

Flat growth may prompt the monetary policy committee not to go for an aggressive rate hike in August

SEZ 2.0: Regional boards to track development hubs on the cards

The commerce and industry ministry is drafting a legislation for the next chapter for SEZs that will see development of large manufacturing and investment hubs

Foxconn likely to set up EV manufacturing unit in India through Foxtron

Buzz is that the company may look at the Ford India unit near Chennai for its new facility; sources say group was already betting big in EV components through Bharat FIH

Manufacturing sector sees faster growth amid high inflation in Apr: PMI

India's manufacturing sector activities witnessed faster growth in April amid quicker increases in production as well as factory orders, and renewed expansion in international sales, a monthly survey said on Monday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose from 54.0 in March to 54.7 in April, as a retreat of COVID-19 restrictions continued to support demand. The April PMI data pointed to an improvement in overall operating conditions for the tenth straight month. In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction. "The Indian manufacturing PMI remained well inside positive territory during April, recovering some of the ground lost in March. Factories continued to scale up production at an above-trend pace, with the ongoing increases in sales and input purchasing, suggesting that growth will be sustained in the near-term," said Pollyanna De Lima, Economics Associate Director at S&P ...

Mfg to see Rs 23 trn inflows in Tamil Nadu by 2030-31: Industries minister

Thangam Thennarasu foresees creation of 4.6 million jobs; sector set to grow from $48 bn in 2020-21 to $250 bn by 2030-31

Addverb Technologies plans to build largest mobile robotics plant

The company is leveraging India's software prowess to build complex robots for the global market and lock horns with global compatitors

PLI scheme: Govt reopens application window for AC and LED lights

42 firms, including Daikin, Panasonic, Syska and Havells, with committed investment of Rs 4,614 crore, have been provisionally selected as beneficiaries under the PLI scheme for the white goods sector

'Strong demand outlook for domestic solar OEMs aided by policy measures'

Business prospects of domestic solar original equipment manufacturers (OEMs) will remain strong aided by several policy measures over medium-term, rating agency Icra said. As a result, many domestic OEMs have announced sizeable capital expenditure to augment the cell and module capacity, including the capex for integrated facilities under PLI scheme by the winning bidders. However, it stated that timely commissioning and ramping up of ongoing capex in module manufacturing value chain remains a critical factor in the near to medium-term. As a result, adequacy of the modules from the domestic OEMs to meet the demand in utility & non-utility segment as well as quality of such modules remains a monitorable. "The policy focus by Government of India in the renewable energy (RE) sector remains strong as also evident from the policy target of 500 GW of non-fossil fuel-based capacity by CY 2030 as well as policy direction in the energy transition with net zero emission target by 2070," ...

Japan's Feb factory activity growth falls to five-month low: Flash PMI

Japan's manufacturing activity expanded at the slowest pace in five months in February as output contracted, underscoring the prolonged impact that global supply chain disruptions are having on Japan.

PLI scheme to unlock India's manufacturing capacity, says Icra

It has the potential to generate employment for millions (skilled and unskilled labour) in India, Icra said

Budget wishlist: Here are the key challenges in manufacturing sector

Measures need to be taken for MSMEs like enhancing the credit limit and access to finance

Manufacturing PMI eases to three month low in December amid Covid fears

Data showed that manufacturing PMI fell to 55.5 in December from 57.6 in November

NRI industrialist Lord Swraj Paul eyes UK, India acquisitions

The focus will be on the company's strengths in the manufacturing sector, with businesses in the field of steel products under consideration

Striking it big: ICICI Venture to raise $1 billion via three new funds

ICICI Venture is also looking at other opportunities such as investing in companies which are eligible for the production-linked incentive (PLI) scheme in the manufacturing sector

Firm boosts human effort in factories, using computer vision, deep learning

Drishti combines video and AI for data capturing in manufacturing to increase process efficiency and reduce defects

Incenza- Redefining Incense is Bringing Revolution in the Incense Stick Market With Its Path Breaking Innovation

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Q2 manufacturing outlook improves; cost of doing biz rises: Ficci survey

As per FICCI's latest quarterly survey, industry has attributed hike in production costs to high fixed costs, higher overheads for ensuring safety protocols, and reduction in volumes due to lockdown

India's industrial production grows 13.6% in June on low base effect

Growth in IIP was led mainly by the manufacturing sector, which grew 13%

PineCraft International Bags Indian Achievers' Award 2021 for Promising MSME

PineCraft International, a decorative lighting manufacturing company, won the award for their outstanding professional achievement and contribution to nation-building.

Moglix acquires used machinery e-commerce firm Vendaxo for undisclosed sum

Move is a step towards creating a sustainable, capital-efficient manufacturing ecosystem; Moglix aims to provide access to high-value capital goods at economical prices to manufacturers