Page 24 - Manufacturing

Elon Musk forces eco-conscious Scandinavians to choose between EVs, unions

A small walk-out at Tesla's seven repair shops in Sweden over unfair working conditions has in the past month spiralled into a storm of labor strikes

India incredibly important, one of our top markets today: Skechers CFO

The 650 square metre facility is capable of shipping up to 60,000 pairs of shoes per day and will interface with Skechers' direct-to-consumer channel and its headquarters in Mumbai as well as the USA

JCB India foresees double digit growth in 2024 sales: CEO & MD Shetty

The company achieved domestic sales of approximately 35,000 machines in 2022 and anticipates reaching around 45,000 units for 2023, reflecting a robust 30 per cent annual growth

PM Modi shouldn't chase Elon Musk for manufacturing Tesla in India

If the Indian government believes this is how to build an EV-manufacturing ecosystem, however, it ought to think again

Govt to pump in additional Rs 1,500 crore for FAME-II subsidy scheme

The MHI was allocated Rs 5,127 crore for the current financial year - the highest since the Rs 10,000-crore scheme was launched in 2019

Handle with care: India's latest GDP numbers flatter but don't deceive

Even if no statistical jugglery is afoot, the "noise" in India's GDP numbers should be eliminated in order to hear the underlying music without distortion, writes T N Ninan

Mobile phone PLI has created 500k incremental jobs: Ashwini Vaishnaw

As many as 5,000 people will work to manufacture smartphones and feature phones at a large scale in the new unit, Vaishnaw said

Trai won't cancel Apple phone registration over DND application row

Talks with the iPhone maker are going on and the issue may be resolved in a few months, say senior officials

Murthy's Catamaran plans to invest in precision manufacturing companies

Infosys founder Narayana Murthy's venture capital firm Catamaran plans to expand its portfolio by investing in precision manufacturing startups and companies exporting their products, a senior company official has said. While speaking to PTI on the sidelines of the Digital Acceleration and Transformation Expo (DATE), Catamaran Chairman MD Ranganath said the valuation expectation in startups have come down in India compared to the phase in 2022, but good ideas with good business models will continue to attract investments. "Our current focus, in addition to services, is on precision manufacturing. Now, India is attracting a lot of manufacturing investments. We are trying to invest in those companies which can export and make components in deep tech, and automobile," Ranganath said. Catamaran has invested in companies like SpaceX, deep tech energy startup Log 9, B2B e-commerce firm udaan, edtech firm udemy, and fintech firm Acko, among others. "Overall, in a market compared to 2022,

Narayana Murthy's Catamaran plans to invest in precision manufacturing cos

Infosys founder Narayana Murthy's venture capital firm Catamaran plans to expand its portfolio by investing in precision manufacturing startups, which can export and make components in deep tech, and automobiles, a senior company official has said. While speaking to PTI on the sidelines of the Digital Acceleration and Transformation Expo (DATE), Catamaran Chairman MD Ranganath on Friday said the valuation expectation in startups have come down in India compared to 2022, but good ideas with good business models will continue to attract investments. "Our current focus, in addition to services, is on precision manufacturing. Now, India is attracting a lot of manufacturing investments. We are trying to invest in those companies which can export and make components in deep tech, and automobiles," Ranganath said. Catamaran has invested in companies like SpaceX, deep-tech energy startup Log 9, B2B e-commerce firm udaan, edtech firm udemy, and fintech firm Acko, among others. "Overall, in

Germany-based Fischer aims to treble India catch in next 5-7 years

In the last three years, its India business had clocked a compound annual growth rate (CAGR) of nearly 41 per cent, nearly trebling its business size to over Rs 200 crore

Uttarakhand tunnel incident spotlights safety in existing, future projects

Engineering companies expect the incident to spotlight safety as a major aspect in future tunnel projects in India

Epack Prefab commissions facility in Andhra Pradesh at Rs 200 cr investment

Epack Prefab, a manufacturer of pre-engineered structures, on Wednesday announced commissioning of its new facility in Andhra Pradesh set up with an investment of around Rs 200 crore. Spread over 24 acre, the new plant has an annual production capacity of 87,000 metric tonne, the UP-based company said in a statement. The new facility is located in the Tirupati region (Andhra Pradesh) and represents an investment of Rs 198 crore, it said. Besides, the company has two manufacturing plants in Ghiloth, Rajasthan, and Greater Noida, Uttar Pradesh with a combined production capacity of 1,00,000 metric tonne per annum (MTPA). The company's overall capacity now stands at 1,87,000 MTPA . With the commissioning of the third unit, Epack Prefab said it will cater to the growing demand for pre-engineered structures in the domestic as well as the international markets. Nikhil Bothra, Director of Epack Prefab in the Middle East and Africa, said there has been a significant demand in these regio

Uttar Pradesh government eyes 10-12% share in India's pharma sector

UP has signed memorandums of understanding with more than 80 CSIR and DRDO labs for research and development on affordable drugs

Govt considering several measures to help revive special economic zones

The government is considering several measures such as a flexible framework for sale of products manufactured in special economic zones (SEZs) in the domestic market, easy de-notification norms, and streamlining approval processes for units, an official said. The aim is to help revive SEZs and facilitate business transactions between SEZ and domestic tariff area (DTA) or the domestic market. SEZs are enclosures which are treated as foreign territories for trade and customs duties, with restrictions on duty-free sales outside these zones in the domestic market. To seek views of different ministries on these measures, the commerce ministry has circulated a note on a draft SEZ (special economic zone) amendment bill 2023. The inter-ministerial consultation is going at a fast pace and the bill is likely to be introduced in the forthcoming Winter session of Parliament which will commence on December 4 and continue till December 22. This amendment bill will be introduced in place of the .

Manufacturing accelerates in Q2, likely to sustain in FY24: Ficci study

57% respondents have plans for investments and expansion in the next six months

India's industrial production growth decelerates to 5.8% in September

The factory output growth measured in terms of the Index of Industrial Production (IIP) had grown by 3.3 per cent in September 2022

75% defence capital acquisition budget reserved for local cos: Minister

The government has reserved 75 per cent of the defence capital acquisition budget, which amounts to approximately Rs one lakh crore, for purchases from local companies, Defence Minister Rajnath Singh said on Thursday. The move is to ensure adequate demand assurance for the domestic industries, he said at the 'India Manufacturing Show-2023' here, as he listed the steps taken for MSMEs in the defence sector. We are the first government which imposed restrictions on itself for the import of weapons. We released five positive indigenisation lists, under which 509 equipment have been identified, the manufacturing of which will now take place in India," Singh said. In addition, the Minister said four positive indigenisation lists for Defence Public Sector Undertakings (DPSUs) were also promulgated, under which 4,666 items were identified, that will be manufactured within the country. "These steps will strengthen our MSMEs and make them Aatmanirbhar', he said. Singh also referred to the

Ameya Prabhu takes over as President of Indian Chamber of Commerce

Prabhu, holds a B.Sc in Economics, Politics, and International Studies from the University of Warwick and an M.Sc in Financial Management from IE Business School, Madrid

China factory activity unexpectedly shrinks in Oct, dents recovery momentum

The non-manufacturing PMI also fell to 50.6 last from 51.7 in September, indicating a slowdown in activity in the vast service sector and construction