Page 32 - Manufacturing

The PLI scheme is beginning to make India a manufacturing powerhouse

However, the industry must remember that the PLI scheme is for five years only, and it must use these five years to make Indian manufacturing globally competitive

China's manufacturing contracted in June as export orders decreased: Survey

China's factory activity contracted for another month in June as export orders decreased, an official survey showed Friday, adding to signs an economic rebound following the end of anti-virus controls is cooling. A monthly purchasing managers' index issued by the national statistics agency and an industry group edged up to 49 from May's 48.8 on a 100-point scale on which readings below 50 show activity contracting. The world's second-largest economy revived following the end in December of anti-virus controls on travel and business activity. But that faded faster than expected due to lackluster consumer spending at home and weak demand for exports following interest rate hikes in the United States and Europe to cool inflation. Despite that, China's No. 2 leader, Premier Li Qiang, said this week economic growth accelerated in the April-June period from the previous quarter's 4.5% rate. Li gave no details but expressed confidence China can hit the ruling Communist Party's annual growt

Commerce ministry asks departments to consult with PLI scheme beneficiaries

The commerce and industry ministry has suggested departments, which are implementing their sector-specific production-linked incentive schemes, hold consultations with PLI beneficiary companies to understand their issues, government officials said. The suggestion was made in a workshop on the production-linked incentive (PLI) scheme called by the ministry on June 27. The meeting assumed significance as the government disbursed only Rs 2,900 crore till March 2023 out of Rs 3,400 crore claims received under the scheme. The scheme was announced in 2021 for 14 sectors, such as telecommunication, white goods, textiles and pharma with an outlay of Rs 1.97 lakh crore. The departments were also asked to ensure that PLI beneficiaries complete their investments and meet production targets. "It was suggested to the line ministries now to call the PLI beneficiary companies for consultations with them only and if they flag any issue, it could be conveyed to the commerce and industry ministry so

Procter - Gamble India to invest $244 mn to set up manufacturing facility

BENGALURU (Reuters) - Procter & Gamble India said it would invest 20 billion rupees ($243.79 million) to set up a personal healthcare manufacturing facility in the western state of Gujarat.

Aerospace suppliers see upside in parts-making from record jet orders

Rising traffic, a search for alternative sourcing to China and orders this month from Air India and IndiGo for nearly 1,000 jets combined have made India a key market for aerospace

Arkam Ventures launches second fund with a target corpus of $180 mn

Through the fund, the firm will make investments in Series A and Series B start-ups, with a focus on emerging sectors like electric vehicles and manufacturing technology

Goldi Solar investing Rs 5k cr to boost module manufacturing capacity: MD

Gujarat-based Goldi Solar is in the process of investing over Rs 5,000 crore to expand its module manufacturing capacity to 6 GW, the company's managing director Ishver Dholakiya said. At present, the company's total module manufacturing capacity is 2.5 GW, Dholakiya, who is also the founder of the company, told PTI. When asked about the company's growth plans, he replied, "We are in the process of investing over Rs 5,000 crore as part of our expansion plans to increase module manufacturing from 2.5 GW to 6 GW." The renewable energy business expansion will be channelled into auxiliary production, including aluminium frames, junction boxes, backsheet, etc, he said. The investment will be made by the year 2025, he said, adding, his company also aims to recruit over 4,500 people across various functions, which will increase its workforce to over 5,500 by FY25. "We plan to hire 25 per cent of the workforce from the local tribal regions adjoining its proposed manufacturing facility. We

PLI schemes boosting jobs and manufacturing in white goods sector

Make no mistake, PLI schemes under Make in India mission for the sector is thriving is making a deep impact on the white goods sector in India

India plans to widen range of steel grades in manufacturing incentive plan

India has already approved an investment of about 6,300 cr rupees ($770 million) over five years to make high-grade specialty steel

Parry Enterprises, Memsift to set up membrane manufacturing facility

Parry Enterprises India Ltd, part of the diversified conglomerate Murugappa Group on Wednesday announced that it has inked a strategic partnership with Singapore-based Memsift Innovations, a provider of cutting-edge membrane technology solutions. The collaboration aims to revolutionise the manufacturing of membranes and the water industry as a whole -- by leveraging the expertise of Memsift Innovations and extensive resources and market presence of Parry Enterprises India Ltd. A state-of-the-art membrane manufacturing facility with a capacity to produce 1.2 million sq metres of high-quality membranes per year would be set up by the two entities. According to a statement, Parry Enterprises did not reveal the investment figures for setting up the manufacturing unit nor the location that has been identified to set up the facility. The facility once operational would cater to the growing demand for Memsift Technologies to serve various industries including chemical, pump and paper, ...

Novo Nordisk to double India manufacturing, bring new drugs by 2025

Plans to bring new drugs by 2025 into the country, which is part of all its global clinical trials

Digital transformation high on manufacturing sector's agenda: PwC India

54% of the companies have implemented artificial intelligence and analytics for business functions

Google scouts for suppliers to move some Pixel production to India

PM Modi has been pitching India as an alternative manufacturing hub, as more companies are becoming wary of the risks of depending on China after its harsh Covid lockdowns

Steering sustainable trade

India needs to push manufacturing exports

We must be a product nation, make our own chips: HCL's Ajai Chowdhry

Countries want to invest in semiconductors. It's very tough to get investments. But in 40 nanometers and above, I believe we still have chance, said Ajai Chowdhry, co-founder of HCLTech

In a first, Centre to review PLI scheme to sort out teething issues

Interactions with line ministries lined up to seek feedback

Rs 25,938-cr Auto PLI scheme: Centre considers paying incentive quarterly

Incentives for FY23 yet to be disbursed as OEMs yet to furnish requisite documents, say officials

India's May fuel consumption scales record high on robust manufacturing

India's delayed monsoons also supported diesel consumption by translating into better construction activity overall, Katona said

Andhra govt to handhold MSMEs from manufacturing to marketing: CM Reddy

He also asked them to formulate an action plan to provide a separate wing for MSMEs in the Industries Department at the Secretary level and extend the required technology

Shadows on sweet spot: Manufacturing grew the least among sectors in FY23

Some might conclude that manufacturing cannot be a leading sector without subsidies on inputs and cash pay-outs given for agri. But will such a manufacturing sector be viable, wonders T N Ninan