Page 32 - Manufacturing

Electronics maker Dixon expects nearly 50% revenue growth in 2024

The company, which started making colour televisions in India in 1994, now has 23 manufacturing plants in the country and serves customers

Corning signs $120 mn worth JV with Optiemus for manufacturing plant in TN

The new facility will make front cover glass for mobile phones and phone parts makers in India, the state government said, without specifying the particular brands to which the glass would be supplied

Odisha clears JSW's Rs 40,000 cr proposal to set up EV manufacturing units

The Odisha government on Monday approved 14 proposals including the JSW Group's plan to set up electric vehicles and component manufacturing units in Cuttack and Jagatsinghpur districts with an investment of Rs 40,000 crore, a senior official said. The proposals were approved at the Cabinet meeting chaired by Chief Minister Naveen Patnaik. "The Cabinet approved a special incentive package for the JSW Group's ambitious EV and component manufacturing projects at Naraj in Cuttack, and Paradip in Jagatsinghpur district", chief secretary Pradeep Kumar Jena told reporters. These projects, with a combined investment of over Rs 40,000 crore and employment potential of over 11,000, are set to usher in a new era of industrial growth and job creation in the state, he said. The JSW Group has proposed to set- up an EV & EV battery manufacturing project at Naraj, Cuttack. The company is also planning to set up an original equipment manufacturing (OEM) plant for EVs and components in the same ...

Hi-Tech Pipes announces scale up plans, aims 1 mn tonne production by FY25

Hi-Tech Pipes on Monday announced plans to scale up its annual production capacity to 10 lakh tonne by 2024-25. At present, the company has five manufacturing units with an installed capacity of 5.80 lakh tonne per annum. "Hi-Tech Pipes Ltd aims for 1 million tonnes capacity by FY25," the company said in a statement. It also announced commissioning of its Sanand unit-II Phase-1 at Gujarat and establishment of new greenfield unit-III at Sikandrabad (UP) and Sanand Unit-II Phase-2. With the latest manufacturing technology and equipment, the company's focus will be on manufacturing of value-added products with proportion in excess of 50 per cent, Hi-Tech Pipes Ltd Chairman & Managing Director Ajay Kumar Bansal said. The Sanand Unit-ll project is equipped for manufacturing of high-end pipes for solar trackers. The company's manufacturing plants are spread across Uttar Pradesh, Andhra Pradesh, Gujarat, and Maharashtra.

Pixxel to launch six home-built hyper-spectral satellites from June

Bengaluru-based space start-up Pixxel plans to launch a series of small, home-built satellites -- Fireflies -- from June that could have a finer look at the Earth with its five-metre resolution hyper-spectral imagery. Pixxel recently launched its satellite manufacturing unit -- Mega Pixxel -- in Bengaluru where it can assemble, integrate and test 40 satellites weighing 100 kilogrammes every year as the nascent company aims to take a leap in the space sector. "If you are looking at 100-kilogramme micro-satellites which are able to do a whole lot of stuff in terms of actual commercial viability, we can do 20 of them at a single point in time. The turnaround time from getting them assembled to ship-to-launch is about six months. That makes it 40 every year," Awais Ahmed, founder and CEO Pixxel, told PTI. Ahmed said Pixxel aims to launch six 100-kilogramme satellites, named Fireflies, by June, and add another 12 next year to monitor in over 250 spectral bands at five-metre spatial ...

Reliance to commission new energy giga complex in Gujarat this year

Billionaire Mukesh Ambani's Reliance Industries Ltd will commission a new energy giga complex in Gujarat in the second half of 2024, the company said in an earnings statement and investor call. Reliance is building a giga complex spread over 5,000 acres in Jamnagar in Gujarat. The complex comprises five giga factories for photovoltaic panels, fuel cell system, green hydrogen, energy storage and power electronics. "On track to commence new energy facilities in phases this year," the company said in a post-third-quarter earnings call with investors. Post announcement of third-quarter earnings on Friday, Ambani stated that the "New Energy Giga Complex is all set to be commissioned in the second half of CY24. I am confident that Reliance's New Energy business will play a pivotal role in the global movement for adoption of cleaner fuels." The Dhirubhai Ambani Green Energy Giga Complex will be among the largest integrated renewable energy manufacturing facilities in the world. Reliance

India needs 2,840 new aircraft, 41,000 pilots in 20 years: Airbus forecast

Addressing a press conference on the sidelines of the aviation conclave and exhibition, Wings India 2024, Maillard said Airbus will double its sourcing from India to USD 1.5 billion

Scaling up to meet domestic demand, no plans to export to China: NMDC

Reuters reported on Wednesday that the federal government had turned down a request from the company to export iron ore to China

PLI scheme spurs Rs 1.03 trillion investment; boosts exports, jobs

While the incentive disbursement to companies participating in the scheme was Rs 4,415 crore as of now, the payout as of September was Rs 1,541 crore

Fireworks factory explodes in Thailand, at least 23 people killed

The cause of the explosion is being investigated. The blast came less than a month before Chinese New Year in February, when demand for fireworks is strong

Govt disburses Rs 4,415 cr under different PLI schemes for 8 sectors so far

The government has disbursed Rs 4,415 crore under production-linked incentive (PLI) schemes for eight sectors till October in this fiscal, an official said on Wednesday. During 2022-23, the disbursement was Rs 2,900 crore. "Incentive amount of around Rs 4,415 crore disbursed under PLI Schemes for eight sectors including Large-Scale Electronics Manufacturing, IT Hardware, Bulk Drugs, Medical Devices, Pharmaceuticals, Telecom & Networking Products, Food Processing and Drones and Drone Components," Additional Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajeev Singh Thakur told reporters here. The government in 2021 announced PLI schemes for 14 sectors such as telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones, and pharma with an outlay of Rs 1.97 lakh crore. The schemes aim to attract investments in key ..

Inox Air Products signs $3 billion MoU with Maha for green ammonia plant

Inox Air Products on Tuesday said it has signed an MoU with the Maharashtra government here for setting up the state's first Green Ammonia Plant with a capacity of 500,000 MTPA and a planned outlay of USD 3 billion. The project is aimed to be commissioned in a 3-5 years timeline, the company said in a statement. The plant would produce Liquid Ammonia, which would be a climate-neutral Hydrogen carrier. The MoU was signed here at the Maharashtra pavilion which the state has set up to promote Maharashtra as an investment decision at the World Economic Forum Annual Meeting. Those present included Maharashtra Chief Minister Eknath Shinde, Industries Minister Uday Samant, Principal Secretary, Industries and Mining Harshdeep Kamble, and Siddharth Jain, Promoter and Director, INOX Group.

Govt may extend concessional 15% tax for new production units by a year: EY

The government may extend the concessional 15 per cent income tax rate for corporates to set up new manufacturing units by one year till March 31, 2025, to encourage private investments, EY said in its 2024 Budget expectation report. Finance Minister Nirmala Sitharaman is scheduled to present the interim Budget for 2024-25 on February 1. EY in its Budget expectations report also said that in the interim Budget, the government would continue its focus on ease of paying taxes, while legislative reforms will stay work-in-progress. To encourage more investment in the manufacturing sector and exports, the interim Budget may extend the sunset date for commencing manufacturing from March 31, 2024, till March 31, 2025, for companies availing 15 per cent concessional income tax rate, EY said. The government in 2019 announced that any new domestic company incorporated on or after October 1, 2019, making fresh investment in manufacturing, will have the option to pay income tax at the rate of

A slowing domestic mobile phone mkt presents challenges to Meity's targets

In spite of PLI incentives, India's gap with China, Vietnam is not fully bridged, leaving a gap of 4-5%. However, if tariffs are brought down, ICEA estimates that exports will go up to $50 bn by FY27

The limitation of 'Make in America'

Slade follows Ben and Whitney Waxman, who in 2015 founded American Roots with the goal of not only manufact­uring in the US, but also operating with an entirely domestic supply chain

Avalon Technologies inks pact with C-DAC to make high-performance computers

Avalon Technologies Ltd has entered into an agreement with C-DAC (Centre for Development of Advanced Computing), Ministry of Electronics and Information Technology for indigenous manufacturing of high-performance computing systems, the company said on Saturday. As per the partnership, Avalon would be able to extend its support for the next generation of server development and manufacturing at C-DAC under the 'RUDRA' program. Avalon has been working with C-DAC as a strategic design and manufacturing partner since 2021 delivering Prototype PCB assemblies, and cables. This experience will now ensure Avalon Technologies' smooth transition into the production of high-performance computing servers as well, a company statement here said. "We are proud to announce that we will be a key partner in assisting with the production of RUDRA HPC server -- India's first ever natively designed server by C-DAC," company Chairman and Managing Director Kunhamed Bicha said. "We believe this partnership

Recycling firm Vikas Lifecare sets up JV to manufacture smart meters

Recycling player Vikas Lifecare on Saturday said it has formed a Joint Venture (JV) company to set up a smart meter manufacturing unit at an investment of Rs 108 crore. Its subsidiary Genesis Gas Solutions Pvt Ltd (Genesis) has formed JV IGL Genesis Technologies Ltd with equity participation from Indraprastha Gas Ltd (IGL) in the ratio of 49:51, Vikas Lifecare said in a statement. The JV will set up a smart meter manufacturing facility at an initial investment of Rs 108 crore in Noida, Uttar Pradesh. The unit, with a capacity to manufacture 1 million smart meters annually, is being set up over an area of 65,000 sq ft, and is expected to be made operational by July this year, the company said. Orders for the manufacturing equipment have already been finalised and will be placed within this month. Vikas Lifecare recycles plastic waste to manufacture pallets and interlocking tiles for industrial applications.

Bombay High Court junks pleas challenging closure of Talegaon plant

The High Court upheld the decision of the Industrial Tribunal allowing GMI to close the plant after noting accumulated losses of Rs 9,656.87 crore as of 2021-22

Avalon Technologies joins MeitY's RUDRA supercomputing mission

The partnership will add to the indigenous manufacturing capability of High-Performance Computing (HPC) systems that are a part of the 'RUDRA' programme, said the company in an announcement

Govt's mission is to be world's top automobile manufacturing hub: Gadkari

The government's mission is to make India the number one automobile manufacturing hub in the world and make the auto sector a Rs 25 lakh crore industry, Union Minister Nitin Gadkari said on Thursday. Addressing a seminar at the Vibrant Gujarat Global Summit here, the minister asked auto manufacturers to invest in clean technologies, especially in electric vehicles, otherwise, they will "miss the bus". Under Prime Minister Narendra Modi's vision of a USD 5 trillion economy and a self-reliant India, Gadkari said, "We are looking at the auto sector to become a Rs 25 lakh crore industry." He further said, "We have to become the number one. Our mission, our target is to make the Indian automobile industry in the world the number one manufacturing hub." Gadkari reminded the audience that when he took charge as minister, India's automobile sector was seventh in the world. "It is a great pride and pleasure for me that under the leadership of PM Modi, we have achieved a very respectable fe