Page 30 - Manufacturing

Manufacturing push can add 50-100 bps to GDP till 2030: UBS Securities

The aggressive manufacturing push, especially in the electronics space, driven partly by the relocation of Asian supply chain away from China, is unlikely to yield any tangible results to India's growth at least in the next three years, according to a foreign brokerage. Tanvee Gupta-Jain, the chief economist at UBS Securities India, said that if the country continues to benefit from the supply chain shifts away from China and structural reforms, GDP should rise to 6.25-6.75 per cent annually by 2030 under an optimistic scenario and generate up to 4 million jobs annually. In the most optimistic scenario, the growth is likely to be 6.75-7.25 per cent. According to Gupta-Jain, the present manufacturing push under the various PLI (Production Linked Incentive) schemes, particularly for electronics, is unlikely to yield any major benefit to GDP or exports. This is because at present, there is no economies of scale in the absence of a manufacturing ecosystem wherein components are also ..

Govt rolls out quality norms for ceiling fans to boost domestic production

The government has issued mandatory quality norms for electric ceiling fans to curb the import of sub-standard goods and boost domestic manufacturing of the electric fans. A notification in this regard was issued by the Department for Promotion of Industry and Internal Trade (DPIIT) on August 9. Items under Electric Ceiling Type Fans (Quality Control) Order, 2023, cannot be produced, sold, traded, imported and stocked unless they bear the Bureau of Indian Standards (BIS) mark. "It shall come into force with effect from six months from the date of publication of this notification," the notification said. Till now, BIS certification rules were not applicable for electric ceiling fans. Violation of the provision of the BIS Act can attract imprisonment of up to two years or a fine of at least Rs 2 lakh for the first offence. In case of second and subsequent offences, the fine will increase to a minimum of Rs 5 lakh and extend up to 10 times the value of goods or articles. According

Indian enterprises increase AI adoption in post-Covid era: PwC report

Indian enterprises have increased AI adoption and industrial products and the manufacturing sector seeing maximum adoption rates following the Covid-19 pandemic, a report said. According to a PwC report titled 'Towards a smarter tomorrow: Impact of AI in the post-COVID era' the industrial products and manufacturing sector has seen the maximum adoption of AI/ML (Artificial Intelligence/ Machine Learning) over the last two years. Almost 64 per cent of the organisations surveyed in the industrial products and manufacturing sector say they are currently at an early stage of their AI-based transformation journey reflecting the opportunities for further investments and growth led by AI/ML solutions in this sector, it said. PwC said it conducted surveys with 220-plus CXOs and decision-makers across the Indian market in 202223. This was a follow-up to the survey conducted in 2020. "While there has been a significant increase in AI adoption with scalable impact in terms of returns, trends .

IPhone maker Foxconn cuts 2023 sales forecast after mobile demand sags

Foxconn also known as Hon Hai now expects most of its main business segments, including smartphones, to contract "slightly" this quarter and over the entire year

US recognises India's enormous intellectual capital: Policy expert Sowle

America recognises India's enormous intellectual capital, and integrating India with the manufacturing ecosystem in core sectors like semiconductor will be key, according to policy thinktank founder Guruprasad Sowle. He said that the US is no longer looking at India only as a destination for services. Sowle, who heads Indus International Research Foundation (IIRF), had met Prime Minister Narendra Modi during his state visit to the US in June. "Even if it means transfer of technology from US to India, gradually that will happen because there are certain technologies that America was not really forthcoming in terms of sharing but after this visit by the Prime Minister, there is a considerable shift towards manufacturing in India," Sowle said. He noted that there was a paradigm shift where the US is no longer seeing India only as a destination for services. "They are seeing India to step up in core sectors, especially aerospace and defence, automotive, healthcare, artificial intellig

Afghanistan sees 70% fall in manufacturing activities due to power shortage

The decline in manufacturing activities occurred due to severe power shortages, which led to the loss of thousands of jobs for the local people

Private manufacturing majors may give super-critical thermal plants a miss

This includes distancing themselves from the new and emerging super-critical technology

Drugmaker asked to stop production after non-standard quality samples: Govt

A Punjab-based drugmaker was asked to stop all manufacturing activities after samples collected from its premises, following an alert by the WHO, were found to be "not of standard quality", the Lok Sabha was informed on Friday. Minister of State for Health Bharati Pravin Pawar, in a written reply in the Lower House of Parliament, said the World Health Organization (WHO) issued a medical product alert for a batch of India-made Guaifenesin syrup in the Marshall Islands and the Federated States of Micronesia. Subsequent to the reports, the Central Drugs Standard Control Organisation (CDSCO) in coordination with State Drugs Authority, Punjab, conducted a joint investigation at M/s QP Pharmachem Ltd in Punjab. "Drug samples drawn from the manufacturing premises under the provisions of Drugs and Cosmetics Act, 1940 for test and analysis were declared as 'not of standard quality'," the minister said. "Further, the State Licensing Authority has directed the firm to stop all manufacturing .

Godrej FMCG firm to set up Rs 515 cr manufacturing unit in Tamil Nadu

Godrej Consumer Products has announced capital expenditure plan of Rs 900 cr

DFPCL to invest Rs 1,950 cr to expand Gujarat plant's nitric acid capacity

Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) on Thursday said it will expand the Nitric Acid capacity at Dahej, in Gujarat at a cost of Rs 1,950 crore. The Board has approved a proposal to set up a Weak Nitric Acid (WNA) plant with a capacity of 300 kilo tonnes per annum (KTPA) and two Concentrated Nitric Acid (CNA) plants with a total capacity of 150 KTPA, a statement said. The company said the new plants will be set up within the existing Nitric Acid complex of DFPCL Dahej in Gujarat as adequate land is available for the proposed construction. "The total project cost is estimated to be approximately Rs 1,950 crore including pre-operative expenses, contingencies, and finance cost during the construction period," it said. The company will be implementing state of the art technology from leading global technology providers for the brownfield expansion. The production will commence tentatively in the second half of 2025-26, it added. "The proposed expansion of our .

Muttiah Muralitharan's Ceylon Beverages to set up plant for cans in Dharwad

The company had earlier sent a proposal to the Karnataka government for setting up aluminium cans and beverages filling plant

The green tinge of local manufacturing

National decarbonisation goals are driving a global race in near-shoring, on-shoring and friend-shoring of production, with India actively joining this dynamic landscape

Leading laptop manufacturers register to make their product in India

As many as 44 IT hardware manufacturers including global PC makers have registered for manufacturing laptops, tablets and personal computers in India, an official source said on Saturday. The official, without naming any company, said that IT hardware production in the country is expected to repeat the success that has been achieved in mobile phone manufacturing under the production linked incentive (PLI) scheme. "Leading laptop companies have registered for PLI and some of them are ready to start manufacturing in India any time. Global server companies have said that they want to make India an export hub for servers," the official said. The government has fixed August 30 as the last date for manufacturing IT hardware under Rs 17,000-crore PLI scheme. According to Counterpoint Research, Lenovo, HP, Dell, Apple and Acer were the top five companies in the personal computer segment in the June 2023 quarter. Research Director of Counterpoint Research Tarun Pathak said the total laptop

India has started manufacturing 38 APIs in past 1.5 years: Mandaviya

India has started manufacturing 38 active pharmaceutical ingredients, or APIs, in the last one and a half years on which it was import-dependent, under the production-linked incentive (PLI) scheme for the sector, Union Health Minister Mansukh Mandaviya said here Saturday. Mandaviya said that the 2017 border standoff with China at Doklam triggered India to rethink its self-reliant strategy regarding active pharma components as it was dependent on just one country for the import of 95 per cent of APIs for the formulation industry. The health minister was speaking at the inaugural event of the Healthcare Summit organised at the Indian Institute of Management Ahmedabad (IIMA). Through the PLI scheme, we tried to ensure that the country does not have to import 54 APIs from abroad and our formulation industry gets APIs domestically. I am happy to share that in just a year and a half, India has started manufacturing 38 APIs, which is an example of Atmanirbhar Bharat, he said. The governme

India Restricts Import Of Laptops, Computers: Here's why

India has restricted imports of laptops, tablets and personal computers with immediate effect. The move's spirit is to push manufacturing to India. Watch the video to know more.

Deepak Nitrite's net profit declines by 36% to Rs 150 crore in June quarter

Chemical manufacturing company Deepak Nitrite on Thursday reported a 36.1 per cent decline in consolidated net profit at Rs 149.9 crore for the June quarter. The company's net profit stood at Rs 234.62 crore during the corresponding period of the previous fiscal, Deepak Nitrite said in a regulatory filing. Revenue from operations fell 14.07 per cent in the first quarter of this fiscal to Rs 1,768.34 crore compared to Rs 2,057.99 crore in the same period a year ago. On June 2, 2022, the company had said that an incident of fire occurred at one of its manufacturing sites at Nandesari, Gujarat. Property, equipment, and inventory worth crores of rupees were damaged and business was hit, resulting in overall damage of Rs 47.20 crore. The company received part payment from insurance companies towards claim against loss of assets and inventories aggregating Rs 27.09 crore, which has been adjusted against the claims, as per the filing. Out of the Rs 27.09 crore, Rs 11.23 crore was receiv

Demand for women apprentices surges 3-fold in manufacturing sector: Report

With the manufacturing sector, traditionally dominated by men, actively working to enhance its diversity and inclusion (D&I), the demand for women apprentices witnessed a threefold increase in the first quarter of this financial year, a report said on Thursday. According to the latest data from TeamLease Degree Apprenticeship, the demand for women apprentices experienced a threefold increase (equivalent to 500 per cent) in the first quarter of FY24, when compared to the last quarter of FY23. The encouraging trend is evident in various regions, including the southern states of Tamil Nadu, Karnataka and Telangana, the Western states of Maharashtra, specifically in Aurangabad and Pune, and the northern states of Uttar Pradesh, Uttarakhand and Haryana, the report noted. Employers across manufacturing sectors are now embracing gender neutrality in apprentice engagement, with an encouraging 51 per cent actively fostering equal opportunities for both men and women, it added. The report ..

Brookfield, RIL sign MoU to explore renewable opportunities in Australia

Under the MoU, Brookfield will collaborate with RIL to assess potential capital investment and skill development opportunities in Australia's renewable energy sector

Apple's main supplier Foxconn plans $500 mn component plants in India

Foxconn Technology Group, plans to increase its investments to more than $1.2 bn in southern India's Karnataka state and add two component factories there

China's manufacturing contracts in July dragging down Asia factories

The Caixin manufacturing purchasing managers index declined to a six-month low of 49.2 in July from 50.5 in June, below the key 50 level that marks a contraction, a private survey showed