Page 25 - Manufacturing

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

Govt focus on boosting electronics production; new scheme in works: MeitY

The government's focus is now on boosting electronics component manufacturing in the country and new scheme for the same is in works, a senior government official said on Monday. Speaking at the CII Electronic Summit, S Krishnan, Secretary, Ministry of Electronics and IT (Meity), said that 99 per cent local mobile phone market is being met through domestic manufacturing, and for next phase of growth companies need to export by improving competitiveness and enhancing value addition. "If our competitiveness needs to keep getting better then the challenge really is to not just rely on about 10 to 15 per cent of the value addition to assembly units in the country but to look at what else we can do, how can we move up in the value chain?" Krishnan said. He said no one country is ever going to own the entire value chain and it's only going to be a portion of the value chain that India needs to target. "Probably in India's case, the best case will probably be China which has about 40 to 4

World recognizes India only option for large demand: Piyush Goyal

The Union Commerce Minister emphasized the unprecedented opportunity presented by 1.4 billion people aspiring for a better future

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