Page 14 - Manufacturing

Govt clears 12 industrial cities to spur manufacturing; Rs 28,602 cr outlay

The Union cabinet on Wednesday approved 12 new industrial cities in 10 states states to boost domestic manufacturing with an estimated investment of Rs 28,602 crore. Spanning across 10 states and strategically planned along six major corridors, these projects represent a significant leap forward in India's quest to enhance its manufacturing capabilities and economic growth. These industrial areas will be located in Khurpia in Uttrakhand, Rajpura-Patiala in Punjab, Dighi in Maharashtra, Palakkad in Kerala, Agra and Prayagraj in UP, Gaya in Bihar, Zaheerabad in Telangana, Orvakal and Kopparthy in AP, and Jodhpur-Pali in Rajasthan. The Union Cabinet has approved 12 new project proposals under the National Industrial Corridor Development Programme (NICDP) with an estimated investment of Rs 28,602 crore, said Union Minister Ashwini Vaishnaw after the Cabinet meeting. The move will transform the industrial landscape of the country, creating a robust network of industrial nodes and cities

'India to lead next industrial revolution with biomanufacturing policy'

India is positioning itself at the forefront of the next industrial revolution with its new biomanufacturing policy designed to tackle food, energy and climate challenges, officials said on Sunday. Approved by the Union Cabinet on Saturday, the BioE3 policy for fostering high-performance biomanufacturing aims to boost innovation and entrepreneurship in different fields. High-performance biomanufacturing involves the production of products ranging from medicine to materials, tackling farming and food challenges, and promoting the manufacturing of bio-based products through the integration of advanced biotechnological processes. Laying the foundation of the BioE3 policy, Finance Minister Nirmala Sitharaman in the Interim Budget had announced a new scheme of bio-manufacturing and bio-foundry to provide environment-friendly alternatives such as biodegradable polymers, bio-plastics, biopharmaceuticals and bio agri inputs. India aims to lead the next industrial revolution. Unlike the ...

Rockwool to set up biggest India factory in Tamil Nadu; to invest Rs 550 cr

Denmark-based Rockwool, one of the leading insulation producers across various segments, will be setting up its largest factory in the country in Tamil Nadu with an outlay of Rs 550 crore, a top official said on Thursday. Rockwool reported revenues of Euro 3.6 billion and has a presence in 40 countries worldwide. The new factory expected to come up at Cheyyar, located about 90 km from Chennai in Tiruvannamalai district, is in addition to the company's existing factory in Dahej, Gujarat and would boost revenues from the Indian market in the Group's global turnover. Earlier in the day, Rockwool Board Chairman Thomas Kahler, its Asia Managing Director Darryl Mathews and India Business Unit Director Vinay Pratap Singh met Chief Secretary N Muruganandham at the secretariat to discuss the company's plans in the state. "We started our operations in Gujarat in 2011 and we are setting up our second factory in Cheyyar SIPCOT (State Industries Promotion Corporation of Tamil Nadu) Industrial P

Wipro Hydraulics inaugurates Rs 250 crore manufacturing facility in Jaipur

Wipro Hydraulics on Thursday inaugurated its sixth manufacturing facility in Jaipur, Rajasthan, built with an investment of about Rs 250 crore. The plant was inaugurated by Rajasthan Chief Minister Bhajan Lal Sharma, Wipro Enterprises chairman Azim Premji and Pratik Kumar -- Wipro Infrastructure Engineering CEO and Wipro Enterprises MD. "The company has invested approximately Rs 250 crore to set up this facility, which is projected to generate about 400 jobs. We currently have a manufacturing capacity of 1,000 hydraulic cylinders per day, and we are fully capable of doubling it if and when the demand rises," Kumar told reporters here. This is Wipro's sixth facility in India, after two units in Chennai and Hindupur each and one unit in Bengaluru, he said, adding it will cater to domestic and international demand. This vertical is the hydraulic cylinders and components manufacturing business of Wipro Infrastructure Engineering, "Trained workforce, along with automation, will lead to

Non-ferrous metal products to have 5% recycled content from FY28

This initiative aims to reduce the country's dependence on primary resources and mitigate the environmental impacts of mining

Kilburn Engineering to acquire Monga Strayfield for Rs 123 crore

In a statement, Kilburn said the acquisition is aimed at a strategic and synergistic partnership that will enhance Kilburn's portfolio and broaden its reach across various industries

Google begins assembling Pixel 8 in India, plans major manufacturing shift

Initially, Google will produce a limited number of phones, but plans to assemble most of its new smartphones in India for domestic and export markets within three years

Women dominate manufacturing jobs in urban India, says Mospi report

The average wage of women is lower than that of men, and the disparity is greater in urban than in rural areas and across occupations, the report said

Despite PLI push, electronics imports top $20 bn for fifth quarter

Electronic goods include the imports of computer hardware, consumer electronics, electronics components, electronic instruments and telecommunications instruments

No proposal for PLI scheme for manufacturing of shipping containers: Govt

The government on Tuesday said that at present, there is no proposal for a Production Linked Incentive (PLI) scheme for the manufacturing of shipping containers in the country. Minister of State for Commerce and Industry Jitin Prasada said in a written reply to the Lok Sabha that the government has taken various measures to increase the availability of containers both, for exports as well as for domestic shipments. There is no reported acute shortage of containers for exports on account of conflict between Russia and Ukraine, Israel and Hamas and Red Sea pirates, he said. "At present, there is no proposal of a PLI scheme for manufacturing of shipping containers," Prasada added. The PLI scheme was announced in 2021 for 14 sectors, including telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell batteries, drones, and pharma, with an outlay of Rs 1.97 lakh ...

Toyota, Maharashtra set wheels in motion for Rs 20,000 crore plant

Plan to roll out 400,000 electric, hybrid cars a year

BHEL Q1 results: Net loss widens to Rs 211.4 crore on higher expenses

State-owned BHEL on Wednesday reported the widening of its consolidated net loss to Rs 211.40 crore for the June quarter, on account of higher expenses. It had clocked Rs 204.70 crore loss for the April-June period of the preceding 2023-24 fiscal, the company said in an exchange filing. The company's total income rose to Rs 5,581.78 crore from Rs 5,117.20 crore in the year-ago quarter. Expenses stood at Rs 5,874.98 crore as against Rs 5,409.47 crore a year ago. Bharat Heavy Electricals Ltd (BHEL) is one of the largest engineering and manufacturing companies in India.

Maharashtra, Tamil Nadu lead the race for Tesla's manufacturing unit

Gujarat also in list, if govt rolls out sops; in talks to rope in local partners

DLF's growth potential anchors market confidence, brick by brick

Constructing value: With fortified finances, real estate major builds on sector consolidation

Mobile phones, components worth Rs 5.14 trillion produced under PLI scheme

Production of mobile phones, including electronic components and semiconductor packaging, under the Production Linked Incentive Scheme (PLI) for large-scale electronics manufacturing reached Rs 5.14 lakh crore till June 2024, Parliament was informed on Friday. Minister of State for Electronics and IT Jitin Prasada, in a written reply to the Rajya Sabha, said that to boost domestic manufacturing and attract investment in mobile phones value chain, including electronic components and semiconductor packaging, Production Linked Incentive Scheme (PLI) for large-scale electronics manufacturing was notified on April 1, 2020. "Till June 30, 2024, incremental investment of Rs 8,390 crores had been made under the PLI scheme. This has led to production of Rs 5,14,960 crores till June 30, 2024," Prasada said. Apple vendors Foxconn, Wistron, Samsung, Pegatron etc qualified for incentives under the scheme. Prasad said the Scheme for Promotion of Manufacturing of Electronic Components and ...

Chhattisgarh government seeks suggestions for new industrial policy

The policy and a vision document for Viksit Chhattisgarh will be released on November 1, marking the state's foundation day

Govt proposes to reduce BCD on some items used in manufacturing apparel

Suresh Nair, partner at EY India, said that this will make exporters more competitive. "This is a positive move for exporters and it will definitely give exporters competitive edge in mkt," Nair said

India must strengthen manufacturing sector to create jobs: Fitch analyst

During Tuesday's annual budget, India's government announced plans to spend $24 billion to create jobs over the next five years and $32 billion on rural development this year alone

PwC recommends extension of beneficial tax regime for new manufacturing cos

Tax consultancy firm PWC has urged Finance Minister Nirmala Sitharman to extend the beneficial tax regime for new manufacturing companies and introduce a comprehensive tax amnesty scheme for cases related to Customs. Sitharaman is scheduled to present the Union Budget for 2024-25 on July 23. "I think the Make in India is the first thing which comes to mind, and you will recall that in 2019, the government introduced a 15 per cent rate for new manufacturing companies, which lapsed on March 31, 2024. "I think that is one extension, which is being expected, and the expectation is also that instead of giving a year-on-year extension if we can look at the block period, say for the next five years because shifting a manufacturing is a big decision and the corporates may take time before making a decision and make it viable, feasible and that's the first bit," said Sandeep Puri, Partner, Price Waterhouse & Co LLP. Section 115BAB of the Income Tax Act offers a concessional tax rate of 15 .

Electronics manufacturing offers MSMEs huge opportunity to succeed: IT secy

Electronics component manufacturing in India offers MSMEs a "huge opportunity to succeed", IT Secretary S Krishnan said on Wednesday asserting that Meity is looking at ways to spur the electronics components ecosystem in the country. Speaking at the CII MSME Growth Summit, Krishnan also exhorted MSMEs to seize growth opportunities, adopt technology and digital tools to expand, and "graduate" to becoming a larger enterprise over time. "You enter as a startup and try to exit within a reasonable time frame. So we should not have 'intergenerational' MSMEs anymore in this country," he said pointing to a slew of opportunities that technology today enables. Krishnan said India's aspirations to transform itself into an electronics manufacturing destination are "extremely important" from employment, resilience, and exports viewpoint. Moreover, it ensures that quality products are available for domestic consumers in the market. "There is a huge requirement for components and that component .