Page 28 - Manufacturing

Committee in PLI scheme approves Rs 1,000 cr disbursement to beneficiaries

The Empowered committee in PLI (production-linked incentive) scheme has approved Rs 1,000 crore disbursement to beneficiary firms of the electronics sector, a top government official said. The government disbursed Rs 2,900 crore till March 2023, out of claims worth Rs 3,400 crore received under the scheme, which aims at boosting domestic manufacturing, creating jobs and supporting exports. "In the recent meeting of the committee, Rs 1,000 crore disbursements were approved under the PLI scheme for the electronics sector. Actual disbursement to the beneficiary companies would take a few more days," the official said. This would be the first disbursement of this fiscal. The scheme was announced in 2021, for 14 sectors including large-scale electronic manufacturing, white goods, textiles, manufacturing of medical devices, automobiles, specialty steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones and pharmaceuticals with an outlay of Rs 1.97 l

Growing e-waste an opportunity for manufacturers: Tech product makers

The increase in the amount of e-waste generation is an opportunity for manufacturers, according to technology product manufacturers. E-waste is an electronic product that is no longer needed, worn out, not working, or nearing the end of its utility for the user. These include wires to devices. "While e-waste is a growing environmental issue, this is an opportunity for manufacturers, customers and general public to come together and address the issue. At Dell, we employ closed-loop strategies... to create new products by recycling select materials from out-of-use technology," Nick Abbatiello, DELL Technologies' Experience Innovation Group Senior Distinguished Engineer, said. As various parts of the world embrace sustainable lifestyles, companies are recognising the need for a circular economy, where one waste ends up reused to become another product. Another manufacturer of personal computers, smartphones, televisions, and wearable devices -- Lenovo -- manages disposed of IT assets

Construction equipment sector revenue likely to grow 14-15% in FY24: CRISIL

The revenue for the domestic construction equipment sector is expected to grow by 1415 per cent in FY24 on the back of the government's focus on infrastructure, Crisil Ratings said on Friday. Construction activity across the real estate and mining sectors will also play a supportive role, it said. "Revenue for the domestic construction equipment sector is likely to grow 1415 per cent this fiscal on a high base of 29 per cent in the previous fiscal. This will be driven by continued government focus on infrastructure build-out, especially roads, metros, and railways, including projects under the National Infrastructure Pipeline (NIP)," the agency said in a statement. The increased pace of road construction, which accounts for 40 per cent of the demand for construction equipment, augurs well for the sector's growth. Manufacturers are also witnessing robust demand from the real estate and mining sectors, as well as from contractors of bridge, airport, and metro corridor, said Poonam ..

JSW Steel's consolidated production grows 13% to 6.41 MT in July-September

JSW Steel has posted 13 per cent rise in its consolidated production to 6.41 million tonne (MT) for July-September 2023-24. It had produced 5.68 MT crude steel during the second quarter of 2022-23, the company said in a statement on Tuesday. However, on a quarter-on-quarter (q-o-q) basis, the production was lower by 3 per cent, primarily due to scheduled shutdowns undertaken at Indian operations and lower capacity utilisation at USA-Ohio due to market conditions, JSW Steel said. In the previous quarter, the company's consolidated output was at 6.61 MT. In India, JSW Steel produced 6.27 MT as against 5.60 MT in July-September 2022-23 and 6.37 MT in April-June 2023-24. JSW Steel USA - Ohio output increased to 0.14 MT from 0.08 MT in the same quarter last fiscal. JSW Steel further said "the merger of the Joint Venture, Creixent Special Steels Limited along and its subsidiary JSW Ispat Special Products Limited (JISPL) with the company has become effective on 31 July 2023." The compa

Meeting of rubber-producing nations discusses need to mechanise sector

The need for collective efforts to address issues of natural rubber-producing countries, such as mechanisation of the sector, increased labour costs and environmental problems, was discussed at a meeting here on Monday. Discussions on topics relevant to the sector, including the current global scenario post-COVID pandemic and the Russia-Ukraine war, were also held as part of the annual meeting of the Association of Natural Rubber Producing Countries (ANRPC), a statement said. India's Rubber Board chairman Sawar Dhanania inaugurated the meeting, the theme of which was 'Natural Rubber Industry: Challenges and Policy Options in the 21st Century'. Addressing the programme, Dhanania said the association should prioritise issues common for all and formulate appropriate policies. Mechanisation of the sector, promotion of sustainable agricultural practices, strengthening of the supply chain and value addition for rubber wood will ensure the existence of rubber farmers everywhere, he ...

Centre to hold PLI scheme payouts' crucial mid-year review next week

DPIIT gearing up for mid-year performance review of 14 flagship schemes

India can become $1 trn export-led automotive hub by 2035: Report

India is the fourth-largest global automotive market, generating $250 billion in FY23 and contributing 7.3 per cent to the national GDP

Manufacturing disrupted at Sikkim plant due to flash floods: Alembic Pharma

Alembic Pharmaceuticals on Wednesday said flash floods in the Teesta River has led to disruption in operations at its Sikkim-based manufacturing plant. "We would like to inform that due to flash floods in river Teesta because of cloud burst, water entered our manufacturing facility at Namthang, South Sikkim, and hence manufacturing operations stand disrupted with effect from October 4," the drug firm said in a regulatory filing. There is no loss or harm caused to any personnel, it said, adding that the assessment of loss will take a while. All assets of the company are adequately insured and necessary intimations have been given to insurance companies, it added. A sudden cloud burst over Lhonak Lake in North Sikkim has resulted in flash floods in the Teesta in Lachen valley, which was compounded by the release of water from a dam. Shares of Alembic Pharma were trading 1.31 per cent down at Rs 780.50 apiece on the BSE.

Smart TV Shipments fall 5% in H1, estimated to decline 7% in 2023: Report

India's smart TV shipments are expected to decline 7 per cent in 2023 on account of factors such as inflation and other macroeconomic headwinds in the country, said a Counterpoint Research report on Tuesday. In the first half of 2023, the India Smart TV Shipments have already declined 5 per cent, the report said. However, the report also added that TV manufacturing is increasing in India with new investments by OEMs in creating manufacturing capacity. Newer OEMs are also entering the market and partnering with leading brands to make their TVs, it said. "We estimate that India's smart TV market will see a decline of 7 per cent YoY in 2023. The second half of the year will see an increase in smart TV shipments compared to the first half due to the festive season," said the latest report from Counterpoint's IoT Service. The report also added despite a slowdown, the TV market continued to witness premiumisation as demand for bigger screen size smart TVs, which are 55 inches and above,

Govt bans manufacturing, imports of electric detonator from April 2025

The government has decided to ban manufacturing, possession and imports of electric detonator from April 2025 in view of security concerns and public safety. In a notification, the Department for Promotion of Industry and Internal Trade (DPIIT) has said that the central government is of the opinion that electric detonator is of a "dangerous" character. It is expedient for the security concerns and public safety to prohibit the manufacturing, possession and import of electric detonator, it said. It added that the government, after consultation with stakeholders of explosives industry, in the public interest has decided that its production shall be completely phased out by the end of 2024-2025. "The central government hereby prohibits the manufacture, possession and import of the electric detonator...throughout the country with effect from the 1st day of April, 2025," the notification, dated September 29, has said.

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

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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