Page 3 - Manufacturing Sector

Blue Star to invest ₹400 cr in capacity expansion, eyes 20% growth in FY26

Of the total capex, Rs 200 crore will be allocated to the third phase of its Sri City plant to increase room air conditioner capacity by 12 lakh units from the current 8.5 lakh units

Don't be mere spectator, grab global opportunities: PM Modi to industry

The PM also pressed the point that India remains a growth engine for the global economy and that it has proven its resilience in challenging situations

World sees India as trusted partner, industry must take advantage: PM Modi

Prime Minister Narendra Modi on Tuesday asked the Indian industry to take "big steps" for taking advantage of global opportunities at a time when the world is looking at India as a trusted partner, which can produce quality goods. Addressing a post-Budget webinar on Regulatory, Investment and Ease of Doing Business Reforms, Modi also said that amid supply-chain disruptions caused by economic uncertainties globally, the world today needs a trusted partner which can produce high-quality products and have a reliable supply chain. "Our country is capable of doing this, all of you (industry) are capable, this is a great opportunity for us. I want that our industry should not look at these expectations of the world as a mere spectator. We cannot remain spectators, you will have to look for your role in this, you will have to seek opportunities for yourself," Modi told the industry players. The Prime Minister said the government is working together with the industry for the last 10 years a

Set up digital verification system before issuing QCOs to curb fraud: GTRI

The government should set up a centralized digital verification system before issuing new Quality Control Orders (QCOs) with an aim to prevent fraud and ensure the integrity of certification processes, think tank GTRI said on Monday. QCO's are issued to contain imports of low-quality products and protect consumers. The Global Trade Research Initiative (GTRI) claimed that India is facing a growing problem of sub-standard imports falsely claiming to have Bureau of Indian Standards (BIS) certification. These low-quality products enter the market with fake BIS labels, misleading consumers and bypassing safety and quality regulations, GTRI Founder Ajay Srivastava said. This issue is widespread in sectors like electronics, toys, construction materials, machinery, and consumer goods, all of which require BIS certification, he said. He said that the government before issuing QCOs for new products must set up an online system to prevent fraud and ensure integrity of the BIS certification a

Indian manufacturing PMI at 56.3 in Feb, slowest expansion since Dec 2023

Feb manufacturing PMI: The decline was driven by weaker growth in output and sales, along with a slowdown in input purchasing to a 14-month low

Economic matters should transcend political divides: Nirmala Sitharaman

BS Manthan: Union Finance Minister Nirmala Sitharaman described the ongoing global turbulence as a "splashing" of forces, urging India to actively participate rather than remain a bystander

Assam emerging as start-up hub, to drive NE manufacturing growth: PM

Prime Minister Narendra Modi on Tuesday said Assam is turning into a destination for start-ups and will soon become a hub of manufacturing in the northeast region. Assam has emerged as a "land of limitless opportunities" with peace accords signed with insurgent groups and resolved border disputes, PM Modi said after inaugurating 'Advantage Assam 2.0 Investment and Infrastructure Summit' here. "Assam is a land of limitless opportunities with peace accords and resolved border disputes. The state is moving fast towards development. Assam's natural resources and strategic location as a gateway to South East Asia have made the state a preferred destination for investors," Modi said. He added, "Assam is turning into a destination for start-up units and will become a manufacturing hub for the northeast soon." Modi also asserted that the value of Assam's economy has doubled to Rs 6 lakh crore during the BJP rule, and this is an effect of the 'double-engine' government. "Amid global ...

Sectoral growth, tech to power India's $23-35 trn 'Economic Vision': Report

By 2047, the services sector is expected to contribute 60 per cent of India's GDP, while manufacturing will account for 32 per cent

Tesla exploring Maharashtra for EV plant, may seek collab with Tata Motors

Tesla has advertised job openings on LinkedIn for 13 positions across vehicle service, sales, customer support, operations, and business development

9 months, Rs 1.62 trillion: Apple iPhone revenue closes in on Tata Steel

Market revenue is the amount a company earns from selling its products in domestic and export markets

US manufacturing activity expands for first time since 2022 as orders rise

The ISM survey showed producers are also contending with elevated costs amid a healthy demand environment. The gauge of prices paid rose by 2.4 points to 54.9, the highest since May

Budget 2025: FM cuts customs duty on 40 items to boost manufacturing

After a comprehensive review of the customs rate structure, the government has decided to remove seven tariff rates

Gabriel India acquires assets worth Rs 60 cr from Marelli Motherson

Auto components maker Gabriel India on Saturday announced acquisition of assets from Marelli Motherson Auto Suspension Parts Pvt Ltd for Rs 60 crore. With this acquisition, Gabriel India has acquired additional annual manufacturing capacity of 3.2-million shock absorbers and 1-million gas spring units, the company said in a statement. The total purchase consideration payable under the Asset Purchase Agreement (APA) is Rs 60 crore, subject to closing adjustments, Gabriel India said in a regulatory filing. Pune-based Marelli Motherson Auto Suspension Parts Pvt Ltd (MMAS) is a 50:50 joint venture between Marelli Europe S.p.A. (formerly known as Magneti Marelli S.p.A.) and Samvardhana Motherson International Ltd. It specialises in the design, production and marketing of passive shock absorbers, including semi-corner modules and gas springs, for cars and commercial vehicles. Gabriel India further said it will enter into a licence agreement and a technical assistance agreement with Mare

GX Group bats for scheme to manufacture telecom equipment indigenously

The government should introduce phase manufacturing program for telecom equipment to boost local ecosystem and enhance value addition in indigenously made products, a senior official of GX Group said. GX Group CEO Paritosh Prajapati told PTI that it's time for the government to give a boost to electronic components as well to enhance value addition in the telecom gears which are a critical element from the national security perspective as well. "To have a complete homegrown ecosystem of telecom and IT equipment, the government should look at a phased manufacturing programme (PMP) for these equipment. "Along with developing domestic manufacturing, PMP will also ensure that there is no hindrance in the overall supply chain resulting in smooth deployment of the digital infrastructure," Prajapati said. GX Group is one of the beneficiaries of the telecom production-linked incentive (PLI) scheme. Telecom production in the country crossed Rs 70,000 crore in November. Out of the total ...

Health and education reforms: A blueprint for India's manufacturing dream

India's ambition to lead global manufacturing depends on tackling malnutrition and improving education. The Union Budget 2025 offers a chance to invest in these sectors, leading to sustainable growth

DPIIT signs agreement with ITC to help startups in manufacturing sector

The Department for Promotion of Industry and Internal Trade (DPIIT) on Wednesday said it has entered into a strategic partnership with ITC Ltd to help startups in the manufacturing sector. "Under this partnership, ITC is looking to deploy startup solutions in key areas such as digital platforms for Manufacturing Execution Systems (MES), integrating renewable energy opportunities for manufacturing locations, and energy storage systems," the department said. It added that a Memorandum of Understanding (MoU) has been signed which will set the tone for a partnership where ITC's experience and expertise with extensive market network will complement DPIIT's initiative for supporting startups across the country. DPIIT Joint Secretary Sanjiv said, "We look forward to fostering scalable solutions and transformative growth to ensure a conducive environment for startups." Startup India Director Sumeet Kumar Jarangal said this would help provide hassle-free market access to startups in terms o

Assembly lines adopt flexible robotics to meet rising consumer expectations

These systems can be deployed across various industries ranging from pharmaceuticals, and consumer goods to the automotive sector

Indian manufacturing ends strong 2024 with a soft note, Dec PMI at 56.4

According to the HSBC Final India Manufacturing PMI, compiled by S&P Global, this was the joint weakest growth rate of 2024

NITI Aayog urges reforms to ease worker housing near industrial hubs

To truly unleash the potential of India's manufacturing sector, there is a need to think of dense, large-scale housing for workers as infrastructure

Lower-paid workers at higher risk of severe injury in auto sector: Report

The report, Crushed 2024, is the sixth annual study on the state of worker safety in the Indian auto sector