Page 10 - Manufacturing

Manufacturing sector must take advantage of opportunities available: PM

Prime Minister Narendra Modi on Tuesday asked the industry not to be a "mere spectator" and take advantage of the opportunities available in the global supply chain. Stating that the world is looking to strengthen its economic partnership with India, Modi said India's manufacturing sector should take advantage of the growing needs of the world by producing high quality products. "Today India provides stable policies and a better business environment. I urge you to take big steps to advance the country's manufacturing and exports," he said at a Post-Budget webinar on Regulatory, Investment and Ease of Doing Business Reforms. Modi said industry should look for manufacturing innovative products using R&D which has demand overseas, and this will push exports. "Today the world needs a trusted partner... Industry should not be a mere spectator, should seek opportunity in the global supply chain: Modi said, adding today India has become a growth engine for the global economy... The ...

Pfizer may move outside manufacturing plants to US: CEO amid tariff threats

The US president has imposed a 10 per cent tariff across all Chinese imports into the US and proposed a 25 per cent levy on most goods from Mexico and Canada

Madhya Pradesh has potential to become $2.1 trn economy by 2047-48: Report

Madhya Pradesh can potentially increase the size of its economy by 18 times to USD 2.1 trillion (Rs 248.6 lakh crore) by 2047-48, according to a report by the industry body CII. In order to realise its potential, the state needs to focus on boosting the manufacturing industry and industrial expansion must take center stage, CII said. According to the report, "Envisioning Madhya Pradesh Economy@2047" the gross state domestic product (GSDP) of the state can rise to USD 2.1 trillion (Rs 248.6 lakh crore) by 2047-48, growing at a CAGR of 8.6 per cent, from the current USD 164.7 billion (Rs 13.6 lakh crore). With a proactive state government dedicated to boosting investment and driving growth, Madhya Pradesh is well-placed to increase its contribution to India's GDP from the current 4.6 per cent to 6.0 per cent by 2047-48, CII Director General, Chandrajit Banerjee said. As per the report, for Madhya Pradesh to achieve its ambitious growth targets, manufacturing and industrial expansion

Krones to build Rs 315 cr manufacturing plant in Karnataka, create 550 jobs

German-based packaging and bottling machine manufacturer Krones has begun setting up its Rs 315 crore bottling machine manufacturing plant in Vemagal, Kolar district. The groundbreaking ceremony was held on Thursday by Karnataka's Minister for Large and Medium Industries, M B Patil. This project is part of the Rs 10.27 lakh crore investment proposals signed during the recently concluded Global Investors Meet (GIM)Invest Karnataka 2025, according to a release from the Minister's office. Patil emphasised that the government's focus is on realising investment projects, and Krones' decision to set up its plant is a testament to this commitment, the release said. Ahead of GIM, Patil led a delegation to Germany in December last year, where he held discussions with Krones representatives and signed a preliminary Memorandum of Understanding at the company's headquarters in Neutraubling. The upcoming Rs 315 crore plant is expected to generate 550 jobs. Speaking at the event, Patil highlig

Japanese electronics firm Murata to set up manufacturing unit in Tamil Nadu

This comes after Murata president Norio Nakajima stated that the company is analysing potential investment scenarios in India

Texmaco to focus on non-wagon verticals: Executive Director & Vice-Chairman

Company expects wagon order growth to moderate in near term

Reviving manufacturing growth: Balancing govt and corporation roles

Ensuring manufacturing growth consistent with our development aims requires the government becoming less entrepreneurial and the corporations becoming much more entrepreneurial

Ashwini Vaishnaw to launch IndiaAI portal, 10 firms to provide 14,000 GPUs

The Indian government has intensified efforts to develop a domestic artificial intelligence model, particularly in response to China's DeepSeek

Looking to expand manufacturing footprint in US: Welspun Living CEO

Home textiles major Welspun Living Ltd is looking to expand its manufacturing footprint in the US with an eye on being closer to customers of its largest market, according to Managing Director and CEO Dipali Goenka. Despite US President Donald Trump's tariff threats, the company is optimistic that even if it were to be imposed it will come in a very mutual manner considering India's global standing, but Welspun Living is preparing to thrive in uncertain times, which it has been doing since the COVID-19 pandemic days, Goenka told PTI in an interview here. "We are in conversation to set up a utility bedding plant at Ohio, where we now have the pillow plant," she said when asked about the company's manufacturing footprint expansion plans in the US. She did not elaborate on the planned investment for the bedding plant at Ohio saying talks are still on. The company has invested USD 12.5 million on the pillow unit in Ohio, which is a fully automated unit. Goenka further said, "We will s

Near term demand, price stability concerns for Cummins India stock

Brokerages upbeat on long-term prospects after company's strong Q3 results

Volvo to set up 4th global manufacturing hub in Hosakote with Rs 1,400 cr

The new facility is expected to create over 2,000 direct jobs, significantly boost exports, and enhance India's position in the global supply chain

Best of BS Opinion: A Carpe Diem moment for Indian policymakers

The rapid growth of AI, success of mobile phone manufacturing, the index for states' fiscal health and labour shortages all point to opportunities for policymakers

Aequs, Tramontina form joint venture to produce cookware in India

The facilities at the Hubballi Durable Goods Cluster will manufacture products for customers in India and abroad

Madhya Pradesh looks to become drone manufacturing hub with new policy

The Madhya Pradesh government has formulated a new drone policy to foster manufacturing of drones in the state as well as encourage their use across sectors like agriculture, logistics, security and governance. The state cabinet in its meeting on Tuesday approved the Madhya Pradesh Drone Promotion and Utilisation Policy 2025, officials said. The policy focuses on promoting drone manufacturing, assembly, and maintenance. It offers incentives such as subsidies and tax incentives to manufacturers, aiming to make Madhya Pradesh a hub for drone production and services. It provides for a 40 per cent capital investment subsidy with a cap of Rs 30 crore for new investments. Also, a 25 per cent subsidy on lease rent, with a maximum of Rs 5 lakh per year, is provided for three years. A Rs 2 crore R&D grant is provided in identified sectors. To promote skill development in key sectors, Chief Minister's Seekho-Kamao Yojana (MMSKY) offers an incentive of Rs 8,000 per month for up to six ...

Indirect Taxes: Budget 2025 boosts domestic manufacturing, eases tax burden

The Budget supports the government's pledge to reduce tax burden and move towards a trust-based tax framework

Manufacturing of electronics to double to $200 bn in 3-4 years: Vaishnaw

The scheme to set up outsourced assembly and testing units has been allocated Rs 3,900 crore in the Budget for 2025-26, compared to Rs 2,500 crore allocated last fiscal

Committee under manufacturing mission to look into issues in detail: Goyal

A committee will be set up under the national manufacturing mission to get into the details on issues like cutting cost of doing business; preparing future-ready workforce; and availability of technology to further promote Make in India initiative, Commerce and Industry Minister Piyush Goyal has said. Representatives from the Centre, states, and private sector are expected to be there in the committee. It would identify key focus areas, which are futuristic and where there is demand both in the domestic and foreign markets, and come up with recommendations on "what we should do". "A committee will be set up under the mission which will go into the details and examine all the issues in detail (like) the role of Centre, and states. Different ministries will be involved, private players will also be involved and they will inform about sectors which have huge competitive advantages in India and which have export potential," Goyal told PTI. Finance Minister Nirmala Sitharaman has announ

Govt to set up National Manufacturing Mission to promote Make in India

The government on Saturday announced to set up a National Manufacturing Mission to further promote Make in India initiative. The Mission's mandate will include five focus areas ease and cost of doing business; future ready workforce for in-demand jobs; a vibrant and dynamic MSME sector; availability of technology; and quality products. The scheme will cover small, medium and large industries, Finance Minister Nirmala Sitharaman said in her Budget speech. The National Manufacturing Mission, she said, will provide policy support, governance and monitoring framework for central ministries and states. "Our government will set up a National Manufacturing Mission covering small, medium and large industries for furthering Make in India," she said. She said that support will be provided to develop domestic manufacturing capacities for our economy's integration with global supply chains. Sectors will be identified based on objective criteria. "Facilitation groups with participation of se

Epack Durable Q3FY25 results: Net profit declines 49% to Rs 2.5 cr

EPACK Durable, an original equipment manufacturer & original design manufacturer for air conditioners and home appliances, on Friday reported a decline of 48.86 per cent in its consolidated net profit to Rs 2.5 crore in the December 2024 quarter. The company had posted a consolidated profit of Rs 4.89 crore in the October-December quarter a year ago, according to a regulatory filing by EPACK Durable. Its revenue from operations climbed 35 per cent to Rs 376.83 crore in the December quarter. The same stood at Rs 279.05 crore a year ago. Total expenses of EPACK Durable in the December quarter grew 37.73 per cent to Rs 377.28 crore. Its total income, which includes other income, was Rs 381.70 crore in the December quarter, up 35.8 per cent. Shares of EPACK Durable Ltd settled 4.99 per cent higher at Rs 465 apiece on the BSE.

In a bid to revamp ITIs, skill ministry de-affiliates 449,000 seats

In an order dated January 17, the directorate general of training (DGT) - apex organization under the MSDE to develop vocational training programs de- affiliated 449,000 seats in a total of 5,848 ITIs