Page 19 - Manufacturing

Global toy majors shifting focus from China to India, exports jumped 239%

Popular brands like Hasbro, Mattel, and Spin Master depend more on India for sourcing

Govt announces Rs 500 crore e-mobility scheme to promote electric vehicles

The second phase of FAME-II or Faster Adoption and Manufacturing of Electric Vehicles in India programme ends on March 31, 2024

PM Modi lays foundation stone of 3 semiconductor projects worth Rs 1.25 trn

The prime minister said the projects will make India a global semiconductor hub

FY24 GDP growth to be closer to 8% on higher activity in industry: CEA

India's real GDP growth in FY24 will be "closer" to 8 per cent on higher activity in industry and services verticals, Chief Economic Advisor V Anantha Nageswaran said on Tuesday. Addressing a conference organised by ARIA (Association of Registered Investment Advisors) virtually, Nageswaran said the growth will be higher than the Ministry of Statistics' estimate of 7.6 per cent, and added that there is much reason to be optimistic in the near term about the prospects in India. "...unless the Q4 GDP numbers fall very significantly from the momentum that we have seen in the first three quarters, the GDP will be closer to 8 per cent rather than 7.6 per cent as the Ministry of Statistics is currently estimating," Nageswaran said. However, he stressed on the need to put heads down and work towards the goal without "succumbing to triumphalism and exuberance". "As a country, we should realize that we are in it for the longer haul, not for the short term," he said, adding that the ...

Aiming to boost local manufacturing, Raj govt set to announce ODOP policy

The ODOP aims to accelerate economic development within each district by harnessing the potential of local specialities

PLI schemes will get India get investments in chip manufacturing: US

Visiting US Assistant Secretary for Commerce calls for ecosystem that encourages startups in both countries to collaborate

After 17 yrs of toil, India is finally ready for tryst with semiconductors

With the Cabinet pressing on with the semicon mission by clearing three landmark projects, India is poised to join the elite club that dominates the global fab scenario

Stone Sapphire India to invest Rs 1,000 cr in homewares plant in Baroda

Toys and stationery manufacturer Stone Sapphire India will invest Rs 1,000 crore to set up a manufacturing facility for homewares like glassware, sippers, dinnerware etc, in Baroda.. Talking with PTI, Stone Sapphire India Pvt. Ltd. (SSPL) Chairman Vick Rana said that homeware products available in India are either for the lower class or very high-end for the elite and leave a huge vacuum for middle-class consumers. "Our work on new plant and capacity expansion has already begun in Baroda which is focused on the homeware segment. We are investing Rs.1000 crore on this expansion," Rana said. The Baroda plant will manufacture small kitchen appliances, metal cookware, and drinkware. This will help increase not just the production capacity for the Indian market but also increase exports by at least 50 per cent, thereby making products in India for the world, he stated.. Rana further said this expansion will help the company increase its turnover to Rs 1,000 crore by 2025-26 from Rs 250

MSMEs need to be future ready, foster development, says CII president

CII conference highlights MSMEs' future readiness and role in eastern region's development

Govt exempts certain exporting units from quality control orders

The government on Friday exempted advance authorisation holders and export-oriented units (EOUs) from mandatory quality control orders for imported goods that are used as inputs for exports. It said that the exemption will be with pre-import conditions, and those inputs will be utilised in the manufacturing of the export products. "Enabling provisions are made for exempting inputs imported by Advance Authorisation holders and EOUs from mandatory Quality Control Orders (QCOs)," the Directorate General of Foreign Trade (DGFT) said in a notification. The unutilised material will be destroyed in the presence of jurisdictional GST/customs authorities, it added. Mandatory QCOs help curb the import of sub-standard products, prevent unfair trade practices and ensure the safety and well-being of consumers as well as the environment. QCOs are applicable for products domestically manufactured as well as imported. Every manufacturing unit in and outside India has to comply with these orders i

'Mobile exports to grow to $50-60 bn, electronics sector to employ 2.5 mn'

Mobile phone exports from India will grow more than five-fold to USD 50-60 billion in the coming time from about USD 11 billion last year, Union IT and Communications Minister Ashwini Vaishnaw said on Wednesday. While speaking at a fintech event, the minister said employment in the electronics manufacturing sector will increase from about 10 lakh at present to 25 lakh in the coming days. He said that 10 years ago India imported 98 per cent of mobile phones and at present 99 per cent of the devices are made in India. "(Mobile phones worth) USD 11 billion were exported last year. In the coming days, you will see exports to the tune of USD 50-60 billion. 10 lakh people work in electronics manufacturing. In the coming days, 25 lakh people will work in electronics manufacturing," Vaishnaw said while sharing a presentation on India's growth story. He said India will become the third largest economy by 2027 while it was ranked 11th in 2014. A report published by Jefferies Equity Research

Industry collaborative effort between India, US aims to strengthen ties

An industry-driven collaborative effort between the US and India aims to catalyse deeper connectivity, broader integration and better access, and inclusivity in innovation ecosystems in both the countries, according to an official statement issued on Wednesday. US-India Business Council (USIBC), in partnership with the Confederation of Indian Industry (CII), hosted the second Track 1.5 round of the US-India Innovation Handshake on Wednesday. It is an industry-driven collaborative effort between the US and India to promote innovation and foster development of critical and emerging technologies, the statement said. "The handshake aims to catalyse deeper connectivity, broader integration, and better access and inclusivity in America's and India's innovation ecosystems, from academia and research institutions to government and industry cooperation," it said. Sanjiv, Joint Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Indian Ministry of Commerce and Industr

CCI clears Ring Plus Aqua's 59% stake buy in Maini Precision Products

Fair trade regulator CCI on Wednesday said it has granted approval to Ring Plus Aqua Ltd's proposed acquisition of a 59.25 per cent stake in Maini Precision Products Ltd. Maini Precision Products Ltd (MPPL) is engaged in the manufacturing of precision products for different industries and manufacturers. "The proposed combination inter-alia envisages the acquisition of 59.25 per cent shareholding in MPPL by RPAL, the acquisition of the entire shareholding of JK Files & Engineering Ltd in JK Talabot Ltd by a wholly-owned subsidiary of Raymond Ltd (New Company), and merger of RPAL, MPPL and the engineering business of JK Files into the new company," CCI said in a release. Raymond Ltd and its subsidiaries are engaged in the manufacture and sale of textiles, lifestyle products, branded apparel, hardware and tools, certain automotive parts, and real estate. The Competition Commission of India (CCI) said it has cleared the proposed deal on Wednesday. JK Files is a wholly-owned subsidiary

Jupiter Wagons secures manufacturing order worth Rs 957 crore from Railways

Jupiter Wagons on Wednesday said it has secured an order of about Rs 957 crore from the Railways for the manufacture and supply of 2,237 wagons. The offer letter has been received from the Ministry of Railways, the wagon manufacturer said in an exchange filing. "Ministry of Railways (Railway Board) vide its letter dated March 6 has placed an offer to the company for manufacture and supply of 2,237 numbers of BOSM wagons for a contract value of Rs 956,87,67,500," the company said. West Bengal-based Jupiter Wagons manufactures all types of railway wagons and accessories. The company also manufactures containers, commercial vehicle load bodies and commercial electric vehicles. Jupiter Wagons shares dropped by 4.21 per cent to settle at Rs 361.90.

Wipro GE Healthcare plans to launch 40 new products across the spectrum

The med-tech firm also collaborated with the Medanta group of hospitals to launch Tele-ICU services in India as Medanta e-ICU project

Goal is to build capacity, reduce imports of coal, machinery: Coal secy

India is working on achieving its goal to reduce spending on importing machinery and equipment for coal mining and simultaneously building up its own capacity to step up exports to other countries, Amrit Lal Meena, Union Secretary, Ministry of Coal said here on Saturday. Coal India Limited (CIL) is still dependent on import of high capacity mining machines, rope shovels, 190T Dumpers and front-end loaders. The average annual import of these high capacity mining machines of Coal India Limited (CIL) is approximately Rs 750 crores for which customs duty of about Rs 250 crore has to be paid, he said. CIL has been placing trial orders to encourage manufacturers to develop these equipment in India and results have been encouraging, Meena said while addressing a stakeholders meet on 'Make in India' initiatives for mining machineries here. CIL plans to phase down imports of these equipment gradually over the next few years and make the vision of Atma Nirbhar Bharat a reality, the secretary

Over 1,000 Amrit Bharat trains to be made in coming years: Vaishnaw

India will manufacture at least 1,000 new-generation Amrit Bharat trains in the coming years and the work to make trains that can run at a speed of 250 kmph was on, Railway Minister Ashwini Vaishnaw said on Saturday. In an exclusive interview to PTI Videos, Vaishnaw also said the Railways has already started working on the export of Vande Bharat trains and the country should see the first export in the coming five years. While speaking on the transformational initiatives taken by the Railways in the last 10 years of the Narendra Modi government, he said the world's highest railway bridge -- Chenab bridge -- and the first under-river water tunnel for Kolkata metro are some of the significant technological advancements that happened in the rail sector. "The railways has a huge social obligation. We carry about 700 crore people every year. Two and a half crore practically every day. The fare structure is such that if the cost of carrying a person is Rs 100, we charge Rs 45. So we give

Sustained momentum

Private consumption remains a weak spot

Nine industrial parks developed post-2011: West Bengal industry minister

The minister said this while highlighting the focus given to industrial infrastructure development by way of existing and new industrial parks

Economy remains resilient, manufacturing regaining momentum: NCAER

High frequency indicators reveal that the Indian economy remains resilient with Purchasing Manager's Index (PMI) for services accelerating and manufacturing regaining momentum, economic think tank National Council of Applied Economic Research (NCAER) said in report released on Wednesday. Further, NCAER said the composite PMI accelerated to 61.2 in January from 58.5 in December 2023. PMI for manufacturing activity accelerated to 56.5 in January from 54.9 in December 2023, reflecting an expansionary momentum while PMI for services went up to 61.8 in January from 59 in December 2023, it added. "The markers for the month like PMI and GST collections point to a resilient macroeconomic environment. "An encouraging signal comes from easing of inflationary pressure, especially the moderation in food price inflation," NCAER Director General Poonam Gupta said. The report mentioned about healthy GST collections which reached a value of Rs 1.7 lakh crore in January, registering a year-on-year