Page 6 - Manufacturing Sector

Design in India, design for the world: PM Modi urges boost in manufacturing

Prime Minister Narendra Modi emphasised the importance of enhancing the quality of Indian products to ensure they meet global standards

Kai Group to invest Rs 17 cr to expand manufacturing facility in Rajasthan

Kai Group, a Japan-based personal care product and kitchen equipment maker, said it will invest 300 million yen (around Rs 17.17 crore) to expand production capacity of its manufacturing facility at Neemrana in Rajasthan. This latest investment is to increase the production capacity of women's razors by over 5 million units per year, according to a statement issued by the group's local subsidiary Kai India. "The group is planning an additional investment, allocated around 300 million yen, reflecting KAI group's commitment to bolstering its manufacturing infrastructure," it said. The expected timeline for the completion of this expansion is five months, and the company expects the enhanced production capacity will be operational by the end of December 2024. This expansion aligns with Kai India's 'make in India' initiative, strengthening local manufacturing and meet the increasing demand from both local and international markets. Kai India Managing Director Rajesh U Pandya said: "Ou

Merck Life Science partners with Aragen to boost biotech R&D in India

Merck Life Science will supply equipment and technologies to Aragen, facilitating a more efficient clinical-to-commercial process timeline

M&M in talks with Kerala govt to set up electric vehicle manufacturing unit

Earlier in the day, M&M issued a clarification, calling the reports on its Gujarat plans untrue

Pidilite Industries Q1FY25 results: Net profit rises 21% to Rs 567 cr

During the April-June quarter, India witnessed a booming manufacturing sector activity as output increased on robust demand

Factories across Europe, Asia struggled in July as demand waned, shows PMIs

It was a broadbased downturn in the euro zone while a slump in China's manufacturing activity suppressed its Asian neighbours

Govt considers reintroducing 15% concessional corporate tax in FY26 Budget

The Centre has set up an internal committee to evaluate the benefits of the 15% concessional tax rate scheme for new domestic manufacturing units, introduced in FY20

India to get 12 new industrial cities; DPIIT to approach Union Cabinet

The country will have 12 new industrial cities in different states like the ones developed in Greater Noida, Uttar Pradesh and Dholera in Gujarat to further boost domestic manufacturing, a top government official said. Out of this, two are coming up in Andhra Pradesh and one in Bihar. The Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said that eight such cities are already under different stages of implementation. Trunk infrastructure has been created in four cities - Dholera (Gujarat), Auric (Maharashtra), Vikram Udyogpuri (Madhya Pradesh) and Krishnapatnam (Andhra Pradesh) and allotment of land plots is underway for the industry. Similarly in the other four, the government's special purpose vehicle is in the process of construction of the basic infrastructure like road connectivity, water and power supply. With eight already under the development stage and the announcement of 12 new in the Budget, the total count of these cities in

Union Budget 2024: Fiscally prudent, inclusive, and growth-oriented

The MSME sector is the backbone of our economy, and I truly believe that for India to achieve its dream of becoming a US$5 trillion economy, this sector needs to be well supported

Better utilisation of land will bring fixed cost of production: Survey

MSMEs are the backbone of the Indian economy, contributing approximately 30 per cent of the country's gross domestic product (GDP)

Budget 2024: From mfg to trading, here's list of likely winners and losers

After a shock election result saw Modi's party returned to power relying on allies, the government is expected to boost consumption in Asia's third-largest economy by lowering personal taxes

Union Budget 2024-25 likely to go vocal for higher local procurement

Greater local content norms may kick in first in steel, chemicals, pharma sectors

Telecom equipment production sales cross Rs 50,000 crore under PLI scheme

Within three years, the Telecom PLI scheme has attracted investments of Rs 3,400 crore, with telecom equipment production exceeding Rs 50,000 crore, govt sources reveal

Anand Mahindra asks industry to boost capital investment to 'ride the tide'

Indian companies need to enhance capital investment in order to take advantage of the growth opportunities available in India and abroad, according to Mahindra Group Chairman Anand Mahindra. Addressing shareholders in the company's annual report for 2023-24, the leading industrialist noted that the interplay of geopolitics and economic linkages in the post-COVID era has seen India's position strengthen. India's emerging role as one of the vital nodes in future-proofed supply chains across industries opens the door for growth within the country and expansion beyond, he stated. "How can we, in private industry, ensure that we ride this upsurging tide? ..In the spirit of 'ask not what your country can do for you; ask what you can do for your country', I would argue that the most important thing industry can do at this critical juncture is to increase private investment," Mahindra said. Private capital investment is the key to capitalising on this opportunity as it is a key driver of .

Tata Hitachi has localisation as top priority, to invest Rs 200cr in FY25

Tata Hitachi Construction Machinery on Tuesday announced that it would invest Rs 200 crore in its two manufacturing plants to stay ahead of the curve in quality, innovation and localisation. The company, a 40:60 joint venture between Tata and Hitachi of Japan, aims at ramping up localisation levels to 70 per cent over the next 2-3 years, its Managing Director Sandeep Singh said. The company plans to produce 60-tonne dump trucks in India, leveraging technology from Hitachi Canada, primarily used for the mining industry, he said. Additionally, the company intends to introduce more models in India as part of the 'Atmanirbhar' (self-reliant) policy started long back, the official said. "We will invest a total of Rs 200 crore in our two plants in West Bengal's Kharagpur and Dharwad in Karnataka. This will help us stay at the forefront of innovation and increase self-reliance (Atamnirbharta) to 70 per cent in 2-3 years from the current 65 per cent," Singh said. The company is celebratin

Indian firms fared better in USFDA inspections in recent years, says IPA

IPA bats for Revised Schedule M implementation as key to pharma manufacturing quality in India

Shifting gears: Ather Energy plans new facility in Maharashtra's Bidkin

The company aims to diversify manufacturing base to enhance proximity to key markets across India and streamline operational costs

Informal entities in manufacturing lost 5.4 million jobs in 7 years

Unincorporated enterprises lost 1.8 mn establishments between Jun 2016 and Sep 2023, according to the 2 surveys

Gains in manufacturing and services sectors push flash PMI to 60.9 in June

The survey also noted that pace of job creation was at its strongest in over 18 years

India to remain fastest growing Asia-Pacific economy, predicts Moody's

Moody's Ratings on Thursday said India will remain the Asia-Pacific region's fastest-growing economy in 2024, sustaining last year's domestically driven momentum. In a report titled Credit Conditions Asia-Pacific H2 2024 Credit Outlook, Moody's Ratings said Indonesia, the Philippines and India led the way in terms of growth in first half of 2024 and should continue to outperform pre-COVID growth numbers on the back of rising exports, local demand and government spending on infrastructure. "India will remain the region's fastest-growing economy, sustaining last year's domestically driven momentum. We anticipate policy continuity after the general election, and a continued focus on infrastructure development and encouragement of private sector investment," it said. Moody's said stronger portfolio inflows are likely in India and ASEAN economies, because of robust corporate credit metrics and appealing valuations. Last month, the rating agency projected India to grow 6.8 per cent in t