Page 24 - Manufacturing

Recycling firm Vikas Lifecare sets up JV to manufacture smart meters

Recycling player Vikas Lifecare on Saturday said it has formed a Joint Venture (JV) company to set up a smart meter manufacturing unit at an investment of Rs 108 crore. Its subsidiary Genesis Gas Solutions Pvt Ltd (Genesis) has formed JV IGL Genesis Technologies Ltd with equity participation from Indraprastha Gas Ltd (IGL) in the ratio of 49:51, Vikas Lifecare said in a statement. The JV will set up a smart meter manufacturing facility at an initial investment of Rs 108 crore in Noida, Uttar Pradesh. The unit, with a capacity to manufacture 1 million smart meters annually, is being set up over an area of 65,000 sq ft, and is expected to be made operational by July this year, the company said. Orders for the manufacturing equipment have already been finalised and will be placed within this month. Vikas Lifecare recycles plastic waste to manufacture pallets and interlocking tiles for industrial applications.

Bombay High Court junks pleas challenging closure of Talegaon plant

The High Court upheld the decision of the Industrial Tribunal allowing GMI to close the plant after noting accumulated losses of Rs 9,656.87 crore as of 2021-22

Avalon Technologies joins MeitY's RUDRA supercomputing mission

The partnership will add to the indigenous manufacturing capability of High-Performance Computing (HPC) systems that are a part of the 'RUDRA' programme, said the company in an announcement

Govt's mission is to be world's top automobile manufacturing hub: Gadkari

The government's mission is to make India the number one automobile manufacturing hub in the world and make the auto sector a Rs 25 lakh crore industry, Union Minister Nitin Gadkari said on Thursday. Addressing a seminar at the Vibrant Gujarat Global Summit here, the minister asked auto manufacturers to invest in clean technologies, especially in electric vehicles, otherwise, they will "miss the bus". Under Prime Minister Narendra Modi's vision of a USD 5 trillion economy and a self-reliant India, Gadkari said, "We are looking at the auto sector to become a Rs 25 lakh crore industry." He further said, "We have to become the number one. Our mission, our target is to make the Indian automobile industry in the world the number one manufacturing hub." Gadkari reminded the audience that when he took charge as minister, India's automobile sector was seventh in the world. "It is a great pride and pleasure for me that under the leadership of PM Modi, we have achieved a very respectable fe

Outgrowing Apple

India must approach its industrial policy with a lighter and practical, reform-oriented touch instead of trying to deal with individual companies like Apple or Tesla

Jindal Advanced Materials commits Rs 1,000 cr investment in Tamil Nadu

Composite materials manufacturer Jindal Advanced Materials has pledged an investment of about Rs 1,000 crore to set up a plant in Tamil Nadu, its first in south India. As part of the Memorandum of Understanding (MoU) with the state government, it will set up a manufacturing plant over an area of 250 acres, the company said in a statement on Tuesday. Jindal Advanced Materials has signed an MoU with the Tamil Nadu government to set up a new manufacturing plant at a strategic investment of nearly Rs 1,000 crore, the statement said, adding that the investment will be spread across seven years. The project, which will come up in Trichy, is the company's first manufacturing facility in south India and is expected to generate up to 3,000 job opportunities, it said. "This MoU is instrumental in elevating our customer service experience in the South. Tamil Nadu's robust infrastructure, Trichy's proximity to the port for enhanced trade opportunities, and the existing ecosystem in infrastruct

Tata Power, Adani lead Rs 6.64 trn funding plans at TN Investor Meet

Among the investors, Tata Power ranked on the top by signing deals to invest Rs 70,000 crore to come up with 10 gigawatt (GW) solar and wind units in Tamil Nadu over a period of five to seven years

Honda expands capacity to 1.97 mn units in scooter-only plant in Gujarat

Prior to this expansion, the plant had a capacity to produce 1.3 million units a year of scooter models like the Activa, Dio, Activa 125, Dio 125, etc

VinFast's India entry: Tamil Nadu plant may start EV production by 2026

The money for the plant will come from the planned optimisation of its capital expenditure in 2024 and 2025, which will help save over $400 million of cash

India's macro-economic health and prospects for 2024

Here's what keeps the Indian economy booming amidst the global slowdown

Jute fibre of the future, need for expanding sector, says Piyush Goyal

Union Minister Piyush Goyal on Saturday termed jute as the fibre of the future, and underscored the importance of expanding the sector and giving it the place it deserves. Goyal was speaking at the inauguration of Patsan Bhawan' at New Town, which will serve as the new base for offices of the Jute Commissioner, the headquarters of the Jute Corporation of India and the National Jute Board, an official release said. Jute is fibre of the future... we need to expand the jute sector and give it the place it deserves. India produces more than 50 per cent jute in the world, out of which over 50 per cent is produced in West Bengal, he said. The minister was also present at a meeting of jute mill owners and stakeholders, industry sources said. During the meeting, Goyal urged officials concerned to resolve long-pending pricing issues, including court cases related to jute pricing, they said. Goyal also formed an informal jute advisory group to comprehensively address issues concerning the .

'The Dravidian model is about inclusivity, diversity, and equitable growth'

T R B Rajaa, says it is taking significant strides in research and development (R&D) and is moving towards becoming a knowledge economy

Talent, infra make TN sought-after state in advanced manufacturing

The panelists, while talking about au­tomation, said the focus lies in automating traditionally monotonous jobs, ensuring a seamless ble­nd of efficiency and worker well-being

Govt 'very hopeful' of Tesla setting up plant in state: Guj Minister

Gujarat Minister Rushikesh Patel on Thursday said his government was "very hopeful" that Elon Musk-led Tesla will choose the state to set up a plant and informed communication was on with the firm in this regard. Patel was responding to queries based on news reports suggesting that the US-based electric vehicle maker was planning to set up a manufacturing plant in Gujarat. "The state government is very hopeful of Tesla coming to Gujarat. Even Elon Musk is looking at Gujarat as his first choice. Gujarat is in his mind ever since he began a survey in India to find a suitable location to set up the plant," said Patel, who is health minister and spokesperson of the state government. "Perhaps, very soon, an official announcement will be made in this regard (Tesla's entry. Let us hope Tesla comes to Gujarat. We will definitely welcome it and provide all necessary support, just like we gave Tata, Ford and Suzuki in the past," Patel told reporters in Gandhinagar. Patel said communication .

Labour mobility

Demand in rich countries is an opportunity

Govt cleared 746 PLI applications till November for different sectors

As many as 746 applications have been approved till November 2023 under the Production Linked Incentive (PLI) schemes for 14 sectors such as pharma, white goods, and electronics, an official statement said on Tuesday. The schemes for 14 sectors were announced with an outlay of Rs 1.97 lakh crore to enhance India's manufacturing capabilities and exports. The commerce and industry ministry said that beneficiary companies have set up units in more than 150 districts (24 states) and over Rs 95,000 crore of investment has been reported till September, which has led to production/sales of Rs 7.80 lakh crore and employment generation of over 6.4 lakh. "746 applications have been approved till November 2023... Incentives worth around Rs 2,900 crores have been disbursed in 2022-23. There has been a value addition of 20 per cent in mobile manufacturing within a period of 3 years," the statement said. It added that of the USD 101 billion worth of total electronics production in 2022-23, ...

DPIIT working with 24 sub-sectors to promote manufacturing, cut imports

The department for promotion of industry and internal trade (DPIIT) is working with 24 sub-sectors, including furniture, aluminium, agrochemicals and textiles, to promote domestic manufacturing, boost exports and reduce imports, according to an official statement. The commerce and industry ministry on Tuesday said that since its launch, 'Make in India' has made "significant" achievements and is now focusing on 27 sectors under 'Make in India 2.0'. While the DPIIT is coordinating action plans for 15 manufacturing sectors, the Department of Commerce is coordinating for 12 service sectors. "Now, DPIIT is working closely with 24 sub-sectors which have been chosen keeping in mind the Indian industries strengths and competitive edge, need for import substitution, potential for export and increased employability," the ministry said. It added that these sub-sectors are -- furniture, air-conditioners, leather and footwear, ready to eat, fisheries, agri produce, auto components, aluminium, .

Gujarat's semiconductor policy setting stage in technology world: CM Patel

The 'Gujarat Semiconductor Policy' will help realise the state's commitment for a self-reliant India and Gujarat, Chief Minister Bhupendra Patel has said. The policy is setting the stage for a future in the world of technology and manufacturing, and helping Gujarat transform itself into a semiconductor powerhouse, he said. According to the state government, chip maker Micron Technology's decision to set up a USD 2.75-billion plant at Sanand near Ahmedabad indicates that Gujarat's dedicated semiconductor policy is bearing fruit and attracting global players. Under the policy, the state government will set up 'Dholera Semicon City' near Ahmedabad where eligible projects will be given subsidies for setting up manufacturing units, it said ahead of the Vibrant Gujarat Global Summit (VGGS) to be held in Gandhinagar next month. The summit is a forum for business networking, knowledge sharing and strategic partnerships for inclusive growth and sustainable development. In June this year, t

The India Story 2023: Progress, challenges & revamps under 'Make in India'

In the second part of the year-end series, we deep dive into a scheme redefining India's manufacturing landscape

China play in PLI 2.0: Dixon wins deal to make laptops for Lenovo

Dixon, a player in the electronics manufacturing services space, has won the contract through Padget Electronics, a fully-owned subsidiary