Page 14 - Manufacturing

Copper rally hits scrap companies to electric gear manufacturers

Apart from hedging and price hikes, companies have also had to resort to stocking up on inventory

Stellantis India appoints Shailesh Hazela as CEO & MD, effective mid-July

'I look forward to accelerating technological innovation and strengthening our position in existing and emerging mobility segments,' Hazela said after the appointment

Core sector growth accelerates to 6.2% in April, shows govt data

Eight key infrastructure sectors' growth rose to 6.2 per cent in April on healthy expansion in the production of natural gas, refinery products and electricity, according to official data released on Friday. The production of eight sectors grew by 6 per cent in March. The growth of these core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 4.6 per cent in April 2023. The official data showed that fertiliser output recorded negative growth in April. The production growth of coal, steel and cement slowed down to 7.5 per cent, 7.1 per cent and 0.6 per cent, respectively against 9.1 per cent, 16.6 per cent and 12.4 per cent in April 2023, respectively. The eight core sectors contribute 40.27 per cent to the country's Index of Industrial Production (IIP).

Tryst with Semicons: Arduous road for India to lead chip manufacturing

Out of the 39 new ATMP-OSAT plants announced globally, India already has three, which the government has cleared: one each by Micron, Tata, and Murugappa Group, with an investment of $7.8 billion

Boeing sees negative free cash flow in 2024 as deliveries remain sluggish

Top U.S. enforcement officials are also weighing whether to charge the company for violating an agreement that shielded it from prosecution stemming from previous jet crashes in 2018 and 2019

Boeing faces 'long road' on safety issues after door accident: US FAA

In late February, FAA Administrator Mike Whitaker gave Boeing 90 days to develop a comprehensive plan to address 'systemic quality-control issues' and barred it from expanding 737 MAX production

CITU writes to labour ministry seeking release of AICPI-IW figures

The CPI-IW figures have not been released for the months of February and March, and the labour bureau has not given any explanation for not releasing the indices on the stipulated dates

JSW Cement to invest Rs 3,000 cr for new manufacturing unit in Rajasthan

Once operational, the facility will mark the company's entry in the North Indian market

Wabtec looks to increase India's exports 10x: Global transit president

US-based railway firm will continue to invest 4% of global revenues in India

Manufacturing share in capital formation down between FY19 and FY23

The report notes that the share of public administration and defence improved, attributable to increased government spending

Govt rolls out mandatory quality norms for asbestos cement products

The government has issued mandatory quality norms for asbestos or fibre cement-based products to curb the import of sub-standard goods and boost domestic manufacturing. A notification 'Asbestos or Fibre Cement based Products (Quality Control) Order, 2024 ' was issued in this regard by the Department for Promotion of Industry and Internal Trade (DPIIT) on March 6 this year. Under these orders, items cannot be produced, sold, traded, imported and stocked unless they bear the Bureau of Indian Standards (BIS) mark. "It shall come into force on the expiry of six months from the date of publication of this notification in the Official Gazette," the DPIIT notification said. To safeguard the domestic small/micro industries and ensure smooth implementation of the QCO and ease of doing business, relaxations have been granted to small/micro industries as regards to timeliness. An additional nine months have been given to small industries and an additional 12 months to micro industries to meet

Govt needs to expand PLI scheme to make India 'global drone hub': Report

The government needs to expand the production-linked incentive (PLI) scheme and develop an ecosystem to realise the goal of making India a global drone hub, a report said on Tuesday. An incentive of Rs 120 crore spread over three financial years was provided for Indian manufacturers of drone and drone components under the PLI Scheme notified on September 30, 2021. As per the Ministry of Civil Aviation projections, the Indian drone manufacturing industry is expected to reach Rs 900 crore by 2025 from just Rs 60 crore in 2020-21, according to a study conducted by Nexgen Exhibitions. It also noted that the Indian drone market is expected to grow at 22.15 per cent CAGR (compounded annual growth rate) during the 2024-30 period. With innovation and expansion of its application portfolio, India has the potential of becoming the global drone hub by 2030, it stated. The study highlighted that the key to realising India's vision lies in boosting the domestic drone ecosystem. Other major fac

Centre to conduct second round of consultation for new EV schemes

The Ministry of Heavy Industries will release policy guidelines and start accepting applications after July 15

Govt puts interim stay on order suspending making of 14 Patanjali drugs

An interim stay was put on Friday on the implementation of an order suspending manufacturing licences of more than a dozen medicines of Patanjali Ayurved Ltd and Divya Pharmacy. The interim stay is being imposed with immediate effect on the basis of a preliminary inquiry report of a high level committee, Pankaj Kumar Pandey, Secretary Ayush, Uttarakhand government said in an order. "The order of the suspension is illegal and should not have been passed by the licensing authority in the manner it has been passed," the committee looking into the matter said in its report. The firms had challenged the last month's suspension order of the Uttarakhand state licensing authority. "Since the licence has been cancelled without following the procedure established by law, the committee is submitting its report to the government of Uttarakhand for appropriate decision," it said. The State Licensing Authority, Ayurvedic and Unani Services had suspended the manufacturing licence of 14 Patanjali

Netgear explores possibility of building manufacturing facilities in India

Netgear, a global leader in networking technology, is exploring the possibility of establishing manufacturing facilities in India, the company said on Thursday. The inauguration of two new office floors for research and development here exemplifies the Nasdaq-listed company's unwavering commitment to this burgeoning market, marking a significant step forward for Netgear in bolstering its presence and investments in India, it said in a release. By participating in the 'Make in India' initiative, Netgear said, it hopes to increase its market presence, reduce production costs and foster local innovation. We are adding more space to our research centre and shall continue to invest more in engineering, sales and customer support in the coming years," Netgear CEO Charles (CJ) Prober, who is on a maiden visit to India, said at a press conference here. His visit signifies Netgear's strategic emphasis on establishing local manufacturing facilities to fortify its market position and synchron

GOVO clocks Rs 100 cr revenue in FY24, targets Rs 1,000 cr by FY28: CEO

Audio electronics brand GOVO targets to be a Rs 1,000 crore entity by FY2027-28, a top official of the company said on Wednesday. The Bengaluru-based audio electronics brand, established in 2022, clocked a revenue of Rs 100 crore in FY2023-24, GOVO CEO and Co-founder Varun Poddar said. "So in FY24, we closed at around Rs 100 crore and we grew around six times, seven times from what we were last year and our goal for the next three years is to go to a thousand crore top line with a 15 per cent to 20 per cent market share. In FY27-28, we are targeting to be a thousand crore company," he told PTI in an interaction. When asked about factors fueling growth, he said that the company plans to expand the category, increase its market share and go for premiumisation in the category. GOVO also plans to add more products and more segments in the near future, he added. "We have a robust in-house customer service team. We are very closely in touch with all our customers, constantly taking thei

UP govt eyes Rs 5K cr investments for defence manufacturing corridor

Developers will make modern provisions for energy conservation, waste management, firefighting, noise, water and air pollution

Sundaram-Clayton Q4 results: PAT at Rs 20.73 cr, total income at Rs 540 cr

Auto-component manufacturer Sundaram-Clayton Ltd has recorded a standalone profit for the quarter ending March 31, 2024, at Rs 20.73 crore. The city-based company had registered a standalone profit of Rs 17.61 crore in the corresponding period of last year. For the year ending March 31, 2024, the standalone net stood at Rs 64.52 crore. The standalone total income grew to Rs 540.01 crore, from Rs 533.78 crore registered in the same period of last year, Sundaram-Clayton Ltd said in a BSE filing. For the financial year ending March 31, 2024, the standalone total income was Rs 1,375.90 crore. During the quarter under review, the company said it invested Rs 41.53 crore in its overseas subsidiary Sundaram Holding USA Inc. The Board of Directors at its meeting held on March 26, declared an interim dividend of Rs 5.15 per share, absorbing a sum of Rs 10.42 crore for the financial year ending March 31, 2024, and the same was paid to shareholders on April 4.

US chip production capacity may treble by 2032, says industry group

The Washington-based SIA, which lobbied hard for the Chips Act, is eager to show that the legislation is paying off. It also wants the government to devote more funding to the cause

Lam Research plans semiconductor fabrication supply chain in India

Lam Research Corporation on Wednesday announced its plans to expand its global semiconductor fabrication equipment supply chain to include India. The company said it is assessing capabilities across various supply chain segments and is exploring India-based suppliers who can collaborate to fulfil the need for precision components, custom parts, high purity gas delivery systems and other assemblies that go into cutting-edge semiconductor wafer fabrication equipment. The global semiconductor industry is expected to grow to 1 US dollar trillion in annual revenue by the end of this decade, according to experts," the NASDAQ-listed global semiconductor manufacturing equipment maker said in a statement. As demand for semiconductors increases, there is an even greater need for collaboration and global engagement of expertise, intellectual property, materials, and talent, it said, adding, Lam has been operating in India for more than 20 years, benefiting from its prime location close to ...