Page 26 - Manufacturing

China's manufacturing activity expands for first time since March

Along with looser monetary policy, the country has also seen an uptick in local government borrowing for infrastructure as authorities look for ways to support growth

Swiss packaging firm SIG to set up first aseptic carton plant in Ahmedabad

Global packaging solutions provider SIG will set up its first aseptic carton plant in India at Horizon Industrial Parks' facility in Ahmedabad. SIG is partnering with Horizon Industrial Parks to set up its first aseptic carton plant in India, according to a company statement. Horizon Industrial Parks is a logistics platform in India, owned and managed by Blackstone Real Estate funds. The current portfolio comprises 17 industrial and logistics parks spread across more than 1,000 acres and with a development potential of 25 million square feet, which are in eight key markets in India. "Horizon Industrial Parks will develop a build-to-suit facility to support SIG's manufacturing of aseptic carton packs for beverages and food," the statement said. Of the 9,00,000 square feet of production space currently under construction, 8,00,000 square feet will be dedicated to SIG. "By building this plant, we are reaffirming our commitment to this thriving market, where we've seen tremendous dem

Tesla rival VinFast mulls setting up manufacturing plant in India

VinFast Auto became the world's third largest automaker by market capitalisation behind Tesla and Toyota in August

Boosting manufacturing to help India become developed economy: AIMA prez

India needs to increase the share of manufacturing to one-third of its GDP to become a developed economy by 2047, AIMA President Shrinivas Dempo said on Tuesday. India's per capita Gross Domestic Product (GDP) needs to multiply about 9 times over the next 25 years, Dempo said while speaking at the National Management Convention session of All India Management Association (AIMA) here. As per the Reserve Bank of India (RBI), the Indian economy needs to grow at an average rate of 7.6 per cent till 2047 to become a developed country, he said. "To get there, the Indian economy needs a rebalancing by raising the share of manufacturing in its output to about one-third. All this requires an exponentially rising investment in infrastructure, technology, education, skills, health and a major realignment of management and governance," Dempo, the Chairman of Dempo Group of Companies, said. India is the fifth-largest economy, with a GDP of over USD 3.7 trillion. The share of manufacturing in to

Apple's Indian contract unit temporarily halts iPhone assembly after fire

Taiwanese firm cancelled first two shifts of day at factory near the city of Chennai in Tamil Nadu state, and is yet to inform assembly workers whether it will operate third shift of day

30 out of 40 applicants may qualify for Rs 17k-cr PLI for IT hardware

Around 30 out of 40 applicants are expected to qualify for Rs 17,000-crore production linked incentive scheme for IT hardware, according to a government official. As many as 40 companies, including Dell, HP, and Lenovo, have applied for the IT hardware PLI (production linked incentive) scheme with a commitment to make personal computers, laptops, tablets, servers and other equipment worth Rs 4.65 lakh crore during the scheme period. "Around 30-32 company may qualify for the (IT hardware PLI) scheme. Some are looking ineligible for the scheme due to financial issues and organisation structure issues," the official, who did not wish to be named, said. Against the budgetary allocation of Rs 17,000 crore for the scheme, applicants have projected the incentives to the tune of Rs 22,890 crore. The official said that the selected companies will get incentives well within the fund allocated for the scheme. Major IT hardware companies like Dell and HP are participating directly in the ...

Apple to scale up production over 5 times in India to $40 bn in 5 years

iPhone maker Apple has plans to scale up production in India by over five-fold to around USD 40 billion (about 3.32 lakh crore) in the next 4-5 years, according to government sources. According to the official, who did not wish to be named, the company has crossed the USD 7 billion production mark in the last financial year. "Apple has plans to increase production in India to over USD 40 billion in the next 4-5 years. It has crossed USD 7 billion in the last fiscal," the official said. An email query sent to Apple did not elicit any reply. Apple manufacturers iPhones in India and has plans to start manufacturing Airpods from next year. The officer said that Apple has no immediate plans to make iPads or its laptops in India. "They don't have any plans to participate in IT hardware PLI. They may come at a later stage but as of now their focus is to scale up existing production levels," the officer said. The company globally sold iPhones worth USD 191 billion and products worth USD

10 best manufacturing business ideas under 10 lakhs, check full list below

Starting a manufacturing business is not as tough as it looks, one can start a profitable business with low investment. Here are the 10 best manufacturing business ideas under 10 lakhs

Samsung to receive incentives worth Rs 500 crore under PLI scheme

Samsung Electronics will receive incentives worth Rs 500 crore under the production linked incentive (PLI) scheme for extra production of mobile phones in 2020-21, a senior government official said. The company had claimed a PLI incentive of Rs 900 crore. The claim was filed by the South Korean electronics manufacturer under the Production Linked Incentive scheme for large-scale electronics manufacturing announced in 2020. "The matter has been settled. The company will be getting around Rs 500 crore," the government official, who did not wish to be named, said. On Rs 900 crore, the government had flagged questions and had asked the company to review their claim. When contacted, a Samsung India spokesperson said: We are currently in an advanced stage of discussions with the Government of India on the incentive payout. "Samsung is a committed partner of India for over 26 years. As the leading smartphone player, we have been working closely with various stakeholders to make the PLI

Casio to start local manufacturing of watches in India by the end of 2023

Leading Japanese consumer electronics maker Casio would start local manufacturing of watches by the end of this year in India, which is a priority market for the company, a top company official said on Wednesday. The company is working with a local partner here, where quality evaluation is going on and expects to launch its first Made-in-India range of watches by the end of this year, said Casio India, Managing Director Hideki Imai. "We expect this to happen before the end of this year," Imai told PTI. Casio is encouraged by its sales in India in the last financial year that ended on March 31, 2023, recording a high double-digit growth in revenue numbers and the highest operating profit. "We are prioritising the Indian market, which has the highest growth potential. India has the highest number of youth, below 35 years and we have recognised that fact. We are optimistic about growing the business here in India," said Imai adding the parent company expects the India unit to deliver

Govt plans over $2 billion in incentives for new manufacturing sectors

A fraction of the PLI incentives has been claimed so far, prompting the government to allocate unused funds to new sectors

Govt rolls out mandatory quality norms for solder wires used in electronics

The government has issued mandatory quality norms for solder wires, used in electronics and engineering industry, to curb the import of sub-standard goods and boost domestic manufacturing of these goods. A notification in this regard was issued by the Department for Promotion of Industry and Internal Trade (DPIIT) on September 18. Items under Flux Cored Solder Wire (Quality Control) Order, 2023 cannot be produced, sold, traded, imported and stocked unless they bear the Bureau of Indian Standards (BIS) mark. These orders will come into force with effect from six months from the date of publication of this notification, the DPIIT said on Tuesday. Soldering is a critical process where quality of flux cored solder wire is of paramount importance as any failure will impact quality and safety of the products soldered particularly in electronic and automobile industry. "The implementation of the Quality Control Order (QCO) for this product is crucial not only for the safety of consumers,

'Domestic manufacturing of premium lighting products may double in 3 yrs'

The Indian premium decorative lighting industry is focusing on domestic value addition to replace imports, and expects the localisation level to double from the current stage in the next three years as the demand is on the rise, a senior company official said. Localisation refers to locally producing or manufacturing components. It is beneficial for a sector as it cuts down the cost of the component or the whole product. The localisation and domestic manufacturing of premium lighting products is now around 20 per cent, which is expected to double in the next three years, said Usha International. president and business head (lighting) Vikas Gandhi. He explained that the volume did not support complete localisation, but the revival in the market with a boom in the housing and hospitality sectors has encouraged the company to promote local value addition. Currently, most of the imports are from China, according to the executive, whose company sells its products under the Tisva brand

Smartphone, auto makers may be mandated to enable NavIC on devices: MoS IT

He also shared that Accord Software & Systems, a domestic start-up, was the first Indian company to design NavIC chips

Exide Industries invests Rs 100 cr in advanced chemistry battery cell arm

Battery maker Exide Industries Ltd on Thursday said it has invested over Rs 100 crore in its wholly-owned arm Exide Energy Solutions Ltd, which is into manufacturing of advanced chemistry battery cells. In a regulatory filing, Exide Industries said it made the investment by way of subscription in the equity share capital of Exide Energy Solutions Ltd (EESL) on a rights basis. There is no change in the shareholding percentage of the company in EESL pursuant to such acquisition, it said. EESL has a paid up equity share capital of Rs 374.40 crore as on date with net worth of Rs 655.20 crore as on March 31, 2023 and it posted a net loss of Rs 59.81 crore in the year ended March 31, the filing added. The company is into manufacturing battery cells of advanced chemistry and form factor, including but not limited to cylindrical, pouch, prismatic battery cells as well as manufacturing, assembling, selling battery modules, battery packs and other related activities, the company said.

PepsiCo India to invest Rs 778 cr for new manufacturing plant in Assam

The company aims to provide direct and indirect employment opportunities to 500 people with this new plant

PepsiCo to invest Rs 778 cr in Assam to open first food manufacturing plant

Leading beverage & food maker PepsiCo on Wednesday said it will invest Rs 778 crore to set up its first food manufacturing plant at Nalbari, in Assam. Spread over 44.2 acres, the plant is proposed to be operational in 2025 and aims to provide direct and indirect employment opportunities to 500 people from Assam, said a statement from PepsiCo. This is the first investment in the North Eastern region by the company with portfolio of beverages and food brands, including Pepsi, 7UP, Mountain Dew, Slice, Tropicana, Mirinda, Lay's, Kurkure, Uncle Chips and Quaker Oats. PepsiCo India has signed a tripartite MoU with Assam Skill Development Mission and Directorate of Employment & Craftsman training for fostering women empowerment and creating a safe and supportive work environment to enhance women employability in the region. "The plant targets to intake 100 per cent diverse talent and aiming atleast 75 per cent women representation and intends to set up its first Community Learning ..

Ind-Swift Laboratories to sell API, CRAMS biz to IndiaRF for Rs 1,650 cr

Drug firm Ind-Swift Laboratories on Wednesday said its board has approved to sell active pharmaceutical ingredients and contract research and manufacturing services (CRAMS) businesses to India Resurgence Fund for Rs 1,650 crore. Chandigarh-based Ind-Swift has two manufacturing sites -- in Punjab and Jammu, and a combined reactor capacity of 700 KL of active pharmaceutical ingredients (API) catering to both regulated and unregulated markets. The company's API business has a strong presence across the US, Japan, Korea, the European Union, Brazil and India. India Resurgence Fund (IndiaRF), a leading India-focused investment platform promoted by Piramal Enterprises and Bain Capital, will acquire the business for a consideration of Rs 1,650 crore, the drug firm said in a statement. "...IndiaRF, which has a pedigree and track record in transforming businesses across varied sectors, will support and invest in the growth of the business," Ind-Swift Chairman and Managing Director N R Munjal

Centre for second PLI scheme for processing millet-based foods: Official

The Centre is in the process of announcing a second round of production linked incentive (PLI) scheme for processing of millet-based foods in the country, secretary in the Ministry of Food Processing Industries, Anita Praveen said on Tuesday. She said that the scheme is in the approval stages and involves an outlay of Rs 1,000 crore. Speaking to reporters on the sidelines of an ICC event here, Praveen said that in the first round of the PLI scheme which started last financial year, the quantum of assistance involved was Rs 800 crore. "The ministry had got applications from 30 units in the first phase and the scheme was fully subscribed. Now we plan to provide another round of PLI scheme involving an amount of Rs 1,000 crore and is in the approval stages", the food processing industries, secretary said. Praveen said "the food processing industry had got an approval of Rs 10,900 crore from the government for granting assistance to food processing units, out of which Rs 800 crore had

Maritronics India to manufacture specialised equipment for defence sector

Marine equipment and spare parts supplier Maritronics India on Monday announced its foray into specialised equipment manufacturing for the defence sector. The company, in a statement, said it is in the process of setting up its own manufacturing facility in Chennai, which is expected to start production in the next one year. This is a significant step towards reducing dependency on imports in the defence sector, which often get impacted owing to geopolitical uncertainties, it said. To strengthen its manufacturing capabilities, the company has signed an initial pact with Goa Shipyard Ltd (GSL) to jointly develop and market navigation, communication, and automation equipment for marine vessels for the domestic defence market. "We are confident that the integrated communication and navigation systems developed by us will become a significant asset for the Indian Navy and the Coast Guard," Maritronics India Pvt Ltd Director Venkatesan N said. The systems are expected to be manufacture