Page 10 - Manufacturing

Apple plans to invest $1 billion in manufacturing plant in Indonesia

In October, Indonesia banned sales of the iPhone 16 because it said Apple had not adhered to rules that require phones sold domestically to have at least 40 per cent locally made parts

DoT bats for expanded telecom PLI to push diversified manufacturing

An expanded PLI will be a key ask for the DoT during the upcoming pre-Budget inter-ministerial consultations, set to begin soon, officials said

Maharashtra aims $1 trillion GDP with growth in manufacturing, services

Maharashtra plans to double its GDP to $1 trillion by 2030, focusing on manufacturing, EVs, semiconductors, and power reforms while maintaining its lead in FDI inflows and boosting infra development

Danfoss aims to ramp up local manufacturing capabilities over next 5 yrs

Danfoss, a leader in heating, ventilation, air-conditioning and compressors has set a target to progressively ramp up local manufacturing capabilities over the next five years, supporting the Centre's Make in India campaign, the company said on Tuesday. Danfoss India, a subsidiary of Denmark-based Danfoss, earlier this year committed to a Rs 500 crore investment aimed at developing local manufacturing for HVAC (Heating, Ventilation, and Air-conditioning), and refrigeration compressors and controls. As the country's heating, ventilation, air-conditioning, and refrigeration sector continues to expand rapidly, Danfoss management's decision to support its customers through increased localisation and the addition of new product lines for compressors, heat exchangers, and controls will help bring world-class Danfoss solutions to the Indian market, the company said. "India is a key pillar in our global strategy, and we are committed to driving growth and sustainable innovation in the regio

Decoded: How Volkswagen Group 'evaded' paying $1.4 billion in tax in India

Volkswagen bypassed the 35 per cent duty imposed on Completely Knocked-Down (CKD) units by misclassifying components as individual parts, according to Indian tax authorities

Sterling Tools forays into manufacture of latching relays for energy sector

The company has partnered with Zhejiang Meishuo Electric Technology Co., China to locally manufacture latching relays for the energy sector, industrial grids, and other applications in India

Manufacturing underperformed amid rise in multi-plants: Arvind Subramanian

On the employment front, they constituted 43 per cent of total non-managerial employees in 2022, up from 17 per cent in 2001

Fall in steel prices may impact profitability of domestic producers: CRISIL

The drop in the prices of steel will impact the operating profitability of primary steel producers in the domestic market, Crisil Ratings said on Thursday. Early-stage steel produced from iron ore is referred as primary steel. Despite an increase in sales volume and lower cost pressures, mainly due to reduced coking coal prices, the operating profit margin will remain at 15-16 per cent in the current financial year, it said. "Lower realisations and flat operating margin will likely drag absolute Ebitda for primary steelmakers 5-7 per cent lower this fiscal, at a time of substantial growth capex," Crisil Ratings Director Ankit Hakhu said. Domestic steel prices are likely to drop 10 per cent on average this fiscal from Rs 57,500 per tonne last fiscal. The first half of this fiscal has already seen average domestic steel prices fall eight per cent from last fiscal's average. While domestic demand is healthy, global steel demand is likely to contract for the third consecutive fiscal.

Order book, margin gain expectations to drive gains in Siemens

Large order inflow is likely over next 12-24 months such as 4-5 high voltage direct current (HVDC) electric transmission, locos or train sets among others

Sazerac Company targets India's whisky market to uncork bourbon growth

Identifying India as a key priority market, Diego Bianchi, general manager, emerging markets and barrel select at Sazerac Company

India remains fertile ground for China smartphone majors, shows data

Big chunk of sales comes from the country despite legal troubles

PLI scheme subsidy payouts to eligible companies remain in the slow lane

The government has disbursed close to Rs 4,000 crore or around a fourth of its annual subsidy payment estimate to the eligible beneficiaries under the 14 PLI schemes

Market friendly, joint Centre-state approach key for new industrial policy

The growth boom in manufacturing that India experienced following the shift of focus from public sector to the private sector was driven more by market-friendly than business-friendly interventions

India's import dependence on key pharma ingredients may reduce by half

Two newly inaugurated units will manufacture important molecules used in several common antibiotics

Flender India planning to invest further in Indian market: Official

Flender India, part of the century-old Germany-headquartered Flender Group, plans to continue investing in the domestic market to accelerate growth in the coming years, a company official said. Over the past four years, Flender's investments in India have nearly "quadrupled," underscoring the market's significance, according to a release. The company operates three production sites in Kharagpur (Kolkata), Chennai and Walajabad in Kancheepuram district, Tamil Nadu, to meet both local and global demand for wind turbine drive gearboxes. To commemorate the Flender Group's 125th anniversary, CEO Andreas Evertz and Flender India CEO Vinod Shetty, accompanied by senior company officials, visited the Tamil Nadu facilities and engaged with employees, according to a company statement issued on Sunday. Approximately 10 percent of Flender Group's 9,000 employees are based in India. Founded in 1899 in Bocholt, Germany, with a focus on wooden pulleys, Flender established its first manufacturing

Ambattur's evolution: Once a manufacturing hub, now a data centre hotspot

In 2024, the clang of metals colliding and the scent of welding fire and chemicals greet visitors to Ambattur - a 45-minute drive from Chennai city

Renault Nissan Chennai unit crosses 4.5 mn powertrain production milestone

The plant has the capacity to produce engines ranging from 800cc to 1500cc

Medical device makers claim import of refurbished devices can harm industry

Manufacturing associations added that recent government orders permitting such imports threaten the efforts of Indian manufacturers to meet the vision of Aatmanirbhar Bharat

Indian manufacturers eye 2-3x profit growth with Industry 5.0: PwC report

Nearly half of Indian manufacturers said they invested in supply chain resilience with real-time analytics. Over 50% of them focus on sustainability, and 46% on strengthening cybersecurity

Manufacturers adopting AI, robotics to boost sustainable biz practices: PwC

A significant percentage of Indian manufacturers are adopting niche technologies like Artificial Intelligence and robotics, to boost sustainable business practices as well as boost revenues, according to a PwC report. Covering six industries, PwC's report 'Decoding the Fifth Industrial Revolution: Marching towards a resilient, sustainable and human-centric future' found that 93 per cent of Indian manufacturers are embracing Industry 5.0 to drive both sustainable practices and boost revenues. PwC India's research was conducted between May and July 2024 and covered 180 manufacturing senior executives from the automotive, cement, chemicals, industrial goods, metals and textiles and clothing industries. As per the research, more than 50 per cent of Indian manufacturers are prioritising investments this year in sustainable practices. These investments are aimed at leveraging digital technologies to adopt renewable energy sources and enhance energy efficiency, among others. Additionally,