Page 31 - Manufacturing

Bajaj Auto to set up first overseas manufacturing plant in Brazil

According to Executive Director Rakesh Sharma, the proposed plant is likely to come up in Manaus Special Economic Zone in northern Brazil and commence production in the next 12 months

Silicon Power to invest $121.7 mn in semiconductor plant in Odisha

Silicon carbide is a component that goes into chips used in electric cars and other industrial power and energy applications

Mahindra Group to aid US companies to set up manufacturing base in India

The company further said that Mahindra Group offers self-sufficient industrial parks at strategic locations, and has the expertise to guide companies through the approval processes

Mahindra Group to aid US cos to expand manufacturing footprint in India

Mahindra Group has set up a dedicated platform in the US to help American companies expand their manufacturing base in India, the Mumbai-based diversified conglomerate said on Monday. The Mahindra Group said it has an extensive experience in regulatory and policy matters, with an in-house team of experts, who will lend their expertise to give American companies a head-start on their manufacturing journey in India. The Group will support interested companies in setting up their manufacturing base in India in a range of ways, including an integrated approach to manufacturing infrastructure, supply chain, technology/automation among others. It would also provide modular plug-and-play suite of offerings; experience sharing on regulations and compliance; and environmental, social and governance (ESG) focus. Mahindra Group is delighted to announce a dedicated platform in the US a decisive step aimed at enhancing global manufacturing and supply chain solutions for American companies," ...

Govt announces re-bidding under PLI for advanced chemistry cell production

The government on Thursday announced the re-bidding of production linked incentives for 20 GWh Advanced Chemistry Cell manufacturing -- India's Rs 18,100-crore programme to boost local battery cell production. The Ministry of Heavy Industries (MHI) will facilitate a stakeholder consultation with industry representatives on July 24, 2023 for their inputs and suggestions before the start of the re-bidding process of remaining 20 GWh capacity. "The ministry is committed to finalize the bidding documents and proceeding with the rebidding process at the earliest," an official statement said. With this auctioning process, the prospective applicants can submit their bids to set up domestic manufacturing facility for advanced chemistry cell, which will help them qualify for incentives under ACC PLI scheme. ACCs are the new generation of advanced storage technologies that can store electric energy either as electrochemical or as chemical energy and convert it back to electric energy as and

Centre rolls out mandatory quality norms for insulated flask, bottles

The government on Wednesday said it has issued mandatory quality norms for insulated flask, bottles and containers with a view to containing import of the sub-standard goods and boost domestic manufacturing of these products. A notification in this regard was issued by the Department for Promotion of Industry and Internal Trade (DPIIT) on July 14. These items - resin-treated compressed wood laminates and insulated flask, bottles and containers for domestic use - under the quality control orders (QCO), cannot be produced, sold/traded, imported and stocked unless they bear the BIS (Bureau of Indian Standards) mark. Now, manufacturing, storing and sale of non-BIS certified products are prohibited as per the BIS Act, 2016. The violation of the provision of the BIS Act can attract a penalty of 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 Rs 5 lakh minimum and extend up to ten

Manufacturing sentiments in India remain positive for first quarter: Ficci

Manufacturing sentiments in India remained positive during June quarter FY24 notwithstanding global headwinds, according to a Ficci survey released on Monday. The latest quarterly survey on manufacturing outlook by the industry body observed that after a revival in the Indian economy in FY22, momentum of growth has continued in the subsequent quarters as well. The survey assessed the sentiments of manufacturers for April-June (2023-24) for nine major sectors namely automotive & auto components, capital goods & construction equipment, cement, chemicals fertilizers and pharmaceuticals, electronics & white goods, machine tools, metal & metal products, textiles, apparels & technical textiles, toys & handicraft. Responses have been drawn from over 400 manufacturing units from both large and SME segments with a combined annual turnover of over Rs 7.70 lakh crore. In March quarter FY23, 55 per cent of the respondents reported higher production levels. Further, over 57

Foxconn proposes to set up Rs 8,800 cr manufacturing plant in Karnataka

Foxconn, a major iPhone assembler for Apple, has proposed to set up a Rs 8,800 crore supplementary plant to that of the unit at Devanahalli Information Technology Investment Region (ITIR) in Karnataka, the state's Large and Medium Industries Minister M B Patil said on Monday. The Chief Minister Siddaramaiah chaired a high-level meeting with the delegates of Foxconn Industrial Internet (Fii), headed by its CEO, Brand Cheng, in this regard, he said. As per the proposal, Fii, a subsidiary of Foxconn (formally known as Hon Hai Precision Industry Co. Ltd), has a plan to invest Rs 8,800 Crore. "This would create 14,000 jobs and the land required for the project is about 100 acres," Patil said. The delegates of the Fii would be taken to Tumakuru to examine the available land at Japan Industrial Township near the district headquarters town. The Information Technology Minister Priyank Kharge and Chief Secretary Vandita Sharma were also present in the meeting. "Fii will engage in manufactur

Top headlines: Ola advances plan for IPO, Govt's FDI push in space sector

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Back to the new-old: West wind, East wind, or the warnings of a storm?

India has been well and truly bitten by the big-country bug, and is committed once more to import substitution-on-crutches, writes T N Ninan

Foxconn's change of heart on semiconductor factory a warning to India

Even if the government's targets for export growth are met, we will still be some distance behind smaller countries such as Vietnam

Elista to invest Rs 100 cr to set up manufacturing plant in Andhra

Electronics maker Elista on Thursday said it will invest Rs 100 crore in Andhra Pradesh to set up a manufacturing unit for Smart LED TVs, smartwatches, audio speakers, and large appliances. The company has signed an MoU (Memorandum of Understanding) with the Government of Andhra Pradesh to set up its second manufacturing plant in the state, the company said in a statement. Earlier, Elista had announced setting up a 1.32 lakh square feet facility in Andhra Pradesh with an investment of Rs 250 crore in March 2023. The second plant, which is scheduled to be operational in December 2024, would help Elista's foray into the smartwatch segment. "The company is planning to generate Rs 50 crore in revenue from this category by the next financial year. This state-of-the-art plant will have a production capacity of 10 lakh smartwatches and 2 lakh speakers, and will generate an employment opportunity for around 500 people," it said. "The expansion into the smartwatches category will help Elis

Fictiv formalises investment in India as its third manufacturing hub

Digital manufacturing company Fictiv, backed by billionaire investor Bill Gates and tech-cum-manufacturing major Honeywell, on Tuesday announced the opening of its India-based headquarters in Bengaluru. After an initial launch in Pune and positive feedback from its customer base on the advantages provided by the region, the company is formalising its investment in India as its third manufacturing hub, joining its successful operations in the United States and China, Fictiv said in a statement. "India has proven to be an emerging epicentre of R&D, manufacturing talent, and supply chain excellence," said co-founder and CEO of Fictiv Dave Evans. To lead its operations in India, Fictiv has appointed Uday Shenoy as General Manager. Shenoy brings over two decades of experience to the role, including supply chain and manufacturing operational knowledge from organisations like Tata Advanced Systems Ltd., Bombardier Aerospace, Hindustan Aeronautics Ltd., and HCL Technologies. "As General .

Harley-Davidson likely to make bikes for global markets in India: Report

The American automaker launched its most affordable bike, X440, in partnership with Hero MotoCorp in India last week

Toy industry seeks resolution of GST anomaly, PLI scheme to boost growth

Toy manufacturers have urged the government to resolve a GST (Goods and Services Tax) anomaly and immediate roll-out of the production linked incentive scheme to boost the growth of the sector. These issues were raised by the industry during a meeting called by the Department for Promotion of Industry and Internal Trade (DPIIT) on July 8 here. The meeting was attended by representatives of global and domestic toy manufacturers, retailers, associations, and government officials to discuss the opportunities in the domestic toy sector. It was chaired by DPIIT Secretary Rajesh Kumar Singh. Toy Association of India (TAI) Senior Vice-President and Little Genius Toys CEO Naresh Gautam, who attended the meeting, said that besides PLI and GST, the industry has urged for resumption of Credit Linked Capital Subsidy Scheme (CLCSS). "PLI is the need of the hour as it would help in tapping huge business opportunities," Gautam, who has been making wooden toys for the last 32 years, said. He adde

Godrej Aerospace eyes share of GE 414 engine manufacturing, supply chain

Godrej Aerospace will be pitching to manufacture modules of the engine, a company official told Reuters during a plant visit

Govt, retailers, Indian toy makers to discuss ways to promote exports

The government will hold discussions with global retailers and domestic toy manufacturers on ways to promote toy exports from India in a meeting on Saturday, an official said. The official said that top retailers, including Hasbro, Walmart, Spinmaster, Ikea, Lego, Simba Dickie, IMC, Hamleys, Lulu, and Sanrio, have been invited for the deliberations. Representatives from Indian companies such as Microplastic, Aequs, Funskool, Playgro, Dreampalst, OK Play, Universal, and Play Shifu are also expected to participate in the meeting. "The discussions will focus on establishing India as a preferred sourcing destination, highlighting the advantages and opportunities available to international companies looking to partner with Indian manufacturers," the official added. The round-table discussion is organised by the Toy Association of India (TAI), in collaboration with Invest India and the Department for Promotion of Industry and Internal Trade (DPIIT). This event brings together key indust

Drone maker InsideFPV raises Rs 2.75 cr as seed funding to grow biz

Drone manufacturer InsideFPV has raised Rs 2.75 crore in a seed funding round led by Inflection Point Ventures and will utilise the amount for product development, marketing and research. InsideFPV was founded in July 2020 and is currently serving the consumer segment with ongoing trials for the defence and agriculture segments. The company said its drones are compact, robust and agile which start from Rs 2,800 onwards to cater to different use cases. "While drones are majorly used in commercial, military and agricultural applications, they are an expensive device to own. InsideFPV, with its innovative technology, aims to bridge this gap by offering one of its kind Plug and Fly FPV (First Person View) feature-rich drones to the consumers at an affordable price point," the company said. Recently, drone maker Ideaforge Technology's initial public offer was subscribed whopping 106.05 times. The company has raised Rs 567.24-crore. In 2021, Dhanuka Agritech announced an investment of R

High growth of 8-9% to be driven by manufacturing, urbanisation: Kant

High growth of 8-9 per cent could be driven by focus on manufacturing and urbanisation, G20 Sherpa Amitabh Kant said on Wednesday. About 5,500 census towns need to have master planning, and sustainable urbanisation is the way forward, which is a huge opportunity to drive growth in India, he said speaking at an event for release of report titled 'The Rise of India's Middle Class'. The bulging middle class holds immense power to drive sustained economic, political and social growth in India, he said. As the number of middle class rises, he said, this will drive demand for quality healthcare, education, housing, consumer goods and many other things. The government increasingly will have to focus on education and health as well as creating job opportunities. The vision of India becoming a fully developed country by 2047 really implies that the middle class needs to be the key driver of India's growth story, he said. "Rise of the Indian middle class is also indicative of economic ...

Micron to start construction of $2.75 bn chip plant next month: Report

Micron Technology would start construction in August on a $2.75 billion chip assembly and test facility in Gujarat