Page 29 - Manufacturing

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

Manufacturing accounted for 78% of foreign technical collaborations: RBI

Manufacturing sector accounted for 78 per cent of the total reported Foreign Technical Collaborations (FTCs) with Japan, the US, and Germany remaining the top three source countries for technology transfer, a Reserve Bank of India (RBI) survey said on Tuesday. Of the 709 Indian entities that participated in the latest survey round, the RBI said 674 FTCs agreements were reported by 356 entities, of which, 221 had also responded in the previous survey round. Foreign Direct Investment (FDI) companies accounted for an overwhelming majority of the FTCs. Further, foreign subsidiaries (single foreign investor holding over 50 per cent of the total equity) and foreign associate companies (foreign investors' equity holding ranging from 10-50 per cent) reported a 71 per cent and 18 per cent of FTC agreements, respectively. "Among economic sectors, manufacturing and services sectors accounted for 78 per cent and 17 per cent of the total reported FTCs, respectively; machinery, transport equipme

Hi-Tech Pipes Q2 results: Net profit grows over two-fold to Rs 10.53 cr

Hi-Tech Pipes has posted over two-fold jump in consolidated net profit at Rs 10.53 crore in the September quarter, on higher income. It had clocked Rs 4.34 crore net profit in the July-September period of the preceding 2022-23 fiscal, the company said in a regulatory filing on Saturday. The company's total income rose to Rs 746.73 crore in the quarter under review, from Rs 599.40 crore in the year-ago quarter. In a separate statement, Hi-Tech Pipes said total sales volumes increased by 17.45 per cent to 1 lakh tonnes, as compared to 0.85 lakh tonnes in Q2 FY23, led by better demand for steel tubes/structural steel products and value-added products. Hi-Tech Pipes' Managing Director Ajay Kumar Bansal said during this quarter the company reported its highest ever revenue from operations. The healthy order book from government projects like Jal Jeevan Mission helped in maintaining a good momentum. "We will continue to increase the share of value-added products in our product basket an

Toyota initiates process to enhance manufacturing capacity in India

Japanese auto major Toyota Motor Corporation has initiated the process to enhance manufacturing capacity in India with two plants running at full capacity in the country, a senior company official said on Thursday. Speaking to media on the sidelines of the Japan Mobility Show here, Toyota Motor Corporation Board Member and Executive Vice President Yoichi Miyazaki confirmed the development and said the company is reaching full plant capacity utilisation in India. "We have started a discussion (on the matter)," he said when asked if the company is looking to make fresh investment on capacity enhancement in the country. He said the demand for automobiles, especially higher segment cars, has surged in India post Covid. "After Covid, the market recovery is very strong (in India) in comparison to other countries so we believe demand itself is very strong in India," the company executive said. Bengaluru-based Toyota Kirloskar Motor, a joint venture between Toyota Motor Company and Kirlos

Punjab govt to constitute industrial advisory commissions for 26 sectors

The Punjab government has recently issued a notification for constituting industrial advisory commissions for 26 sectors aimed at promoting holistic business development in the state. According to the notification, each advisory commission will be headed by a renowned person from the relevant industrial sector who will hold a rank equivalent to that of a cabinet minister. The commission will have industry representatives who will be nominated by the government, it said. The advisory commission is meant for several sectors, including textile, machine tools, sports goods, agri and food processing, rice milling and processing, bicycle and bicycle components, agriculture machinery and equipment, pharmaceuticals, alloys and steel, auto and auto components, and electronics. Information technology, paper and paper-based packaging units, plywood and wood products, hotels and hospitality, plastics and chemical products, logistics, construction materials, retail and service industries, ...

Supriya Life targets 1-2% global mkt share with oral cancer detection kit

Quickblue is designed to detect oral cancer swiftly, eliminating the need for extensive preclinical and clinical trials

Uttarakhand CM releases Rs 90 crore subsidy to 40 industrial units

Uttarakhand Chief Minister Pushkar Singh Dhami on Saturday transferred a subsidy of Rs 90 crore to 40 industrial units under the Industrial Development Scheme. Under the Central Government's Industrial Development Scheme, 2017, manufacturing and service sector units established in Uttarakhand and Himachal Pradesh are given a subsidy of 30 per cent up to a maximum of Rs 5 crore on the investment made in plant and machinery. After transferring this grant amount to the accounts of 40 industrial units established in Uttarakhand, the chief minister said that this is a very important scheme for the promotion and expansion of industries in the state. Dhami thanked Prime Minister Narendra Modi and Union Commerce and Industry Minister Piyush Goyal for the grant of subsidy. Dhami said that the state government is continuously making efforts to promote industries in Uttarakhand and the 'Uttarakhand Global Investors Conference' is being organized in December to boost the sector. He said that

Gujarat govt signs MoU with IN-SPACe to set up space manufacturing cluster

The Gujarat government on Wednesday signed an agreement with the Indian National Space Promotion and Authorisation Centre (IN-SPACe) to set up a space manufacturing cluster at Sanand in Ahmedabad district. Ahmedabad-headquartered IN-SPACe is an autonomous agency of the Department of Space (DOS) that works to promote various space activities of non-governmental entities including building launch vehicles and satellites and providing space-based services, etc. As per the MoU (Memorandum of Understanding), IN-SPACe will provide incentives and technical guidance to space technology equipment manufacturing units and startups. For this purpose, a technical support and incubation center will also be set up at the IN-SPACe's headquarters, the government said. The government will provide land and infrastructure suited to the space and allied sectors to operate in the cluster, as per a government release. The government is committed to working to realise Prime Minister Narendra Modi's dream

Exploring tie up with Japanese companies for chip plant in Gujarat: Vedanta

Vedanta's Akarsh K Hebbar during Vibrant Gujarat Global Summit roadshow in Japan had said that it is $80 bn opportunity for cos willing to come and invest in electronics manufacturing hub in Guj

Output of a third of manufacturing segments in August less than base year

All indices in the IIP were at 100 in 2011-12 because it was the base year of the new series

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