Page 33 - Manufacturing

Govt to start project to become electronics repair hub, relax trade rules

Following a push by an industry group for IT and electronics manufacturers, MAIT, the Indian government will test changes to lower the time required for necessary approvals for imports and exports

PG Electroplast forms joint venture with Jaina Group to manufacture LED TV

PG Electroplast Ltd, a contract manufacturer in the consumer electronics and appliances space, would set up a joint venture (JV) which will initially undertake ODM manufacturing of Google-certified LED televisions. The JV will have an option later to expand the partnership to include products like refrigerators, IT hardware, wearables, and hearables, said a joint statement on Monday. "Post the execution of mutually acceptable agreements by the parties, the JV Company will be 50 per cent owned by PG Electroplast & 50 per cent owned by Jaina Group," it said. Jaina Group owns and operates four brands of Karbonn, Gionee, Sansui, and Sens, and it is among three Google ODM licensees. Commenting on the development Jaina Group Founder and Managing Director Pardeep Jain said: "This partnership will strengthen India's electronics manufacturing industry & contribute towards the goal of an Atmanirbhar Bharat. With PGEL's manufacturing pedigree & our deep experience in consumer ...

Xiaomi partners Optiemus to manufacture audio products in Noida

Xiaomi India on Monday announced a partnership with Optiemus Electronics Limited (OEL) to manufacture its audio products in the country

DGCI asks labs to priortise mandatory testing of cough syrup before exports

With India making testing of cough syrups before export mandatory from June 1, the Drugs Controller General of India (DCGI) has asked specified state laboratories to examine such samples from manufacturers on "top priority and issue the test report at the earliest". Cough syrup exporters will have to produce a certificate of analysis issued by a government laboratory before the product is exported, effective June 1, the Directorate General of Foreign Trade (DGFT) said in a notification on Monday. The move came amid instances of quality concerns being raised abroad on cough syrups exported by Indian firms. "The export of cough syrup shall be permitted to be exported subject to export samples being tested and production of a certificate of analysis issued by any of the laboratories..., with effect from June 1, 2023," the notification stated. On Wednesday, the country's top drug regulator, DCGI, wrote to state drug controllers of Gujarat, Karnataka, Kerala, Madhya Pradesh, Maharashtr

Dynamic Cables Q4 profit up 18% to Rs 10 cr, income grows to Rs 179.60 cr

Dynamic Cables on Tuesday said its consolidated net profit climbed a 17.92 per cent to around Rs 10 crore during the quarter ended March 31, boosted by higher income. It had clocked a net profit of Rs 8.48 crore in the January-March quarter of FY22, the company said in a regulatory filing. The company's total income rose to Rs 179.60 crore, from Rs 173.28 crore in the fourth quarter a year-ago. The expenses of the company stood at Rs 166.54 crore, as against Rs 161.90 crore a year ago. The company's board of directors has approved a final dividend of Rs 0.50 per share of Rs 10 each for FY23, according to a statement. In a separate statement, the company said, "its sales were at Rs 178.5 crore for Q4 FY23 and Rs 668.6 crore for FY23. During Q4, the EBITDA margin was 10.6 per cent as compared to 9.3 per cent in the previous quarter (October-December 2022)." "We have concluded the financial year 2023 on a positive note. Achieving this growth despite a high base and volatile commodit

Medico Remedies Limited to foray into ointment manufacturing segment

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Consumer durables in IIP down 4% in FY23 compared to pre-covid FY20

Segment falls 12% in FY23 over that in FY19 due to muted demand

AEPC promoting sustainable manufacturing in garment sector to boost exports

Exporters body AEPC on Monday said it is promoting sustainable manufacturing practices such as usage of environment- friendly technologies to reduce carbon emission in different garment clusters of the country to boost exports. Apparel Export Promotion Council of India (AEPC) is holding a series of deliberations with all stakeholders, including brands, associations, and industry on the subject. The council is informing the industry about adopting sustainability practices such as ways to promote water and energy conservation, waste water management and chemical management, monitoring of carbon emission, and certification for green building. The exercise assumes significance as the European Union (EU), a key export destination for India, has decided to impose carbon tax on imported goods if their manufacturing process involves polluting practices. The EU accounts for about 18 per cent of the country's total exports. In a statement, AEPC said it has initiated AISA (Apparel Industry .

Ramkrishna-Titagarh consortium scouting for sites for train wheel plant

A consortium of Titagarh Wagons and Ramkrishna Forgings is in the process of identifying a cost-effective location to set up one of Asia's largest train wheel manufacturing plants, an official said on Sunday. The special purpose vehicle (SPV) -- Ramkrishna Titagarh Rail Wheels Limited -- will set up the facility with state-of-the-art German technology and machinery, he said. "We will build a two-lakh-wheel per annum capacity plant, which will be the largest train wheel plant in Asia, if not the world, outside China," Titagarh Wagons vice-chairman and managing director Umesh Chowdhary told PTI. The plant's capital expenditure is estimated to be Rs 1,000 crore, he said. We have not finalised the location yet, as a study is underway to identify the best cost-effective location. The decision will be taken after consultation with the railways," he said. The factors that are crucial to finalise the location will be incentives, easy access to source raw material, and cost-effective trans

ELGI Sauer Compressors sets new manufacturing unit to produce compressors

ELGI Sauer Compressors Ltd, a joint venture between Elgi Equipments Ltd and Germany-based Sauer Compressors Group, has set up a manufacturing facility at an investment of about Rs 400 million. Spread across 50,000 sq ft at Kallapalayam near here, the facility would manufacture state-of-the-art high-pressure compressors, pressure-reducing stations and portable breathing air compressors for industrial, shipping, naval and off-shore markets, officials said. The manufacturing unit would house an engineering centre to provide support to the Sauer Compressors Group worldwide. "This is an important milestone in our journey towards market leadership and sustained business growth for ELGI Sauer Compressors in India," ELGI Sauer Compressors Ltd chief executive officer Satish Kini said in a company press release. "This factory with expanded manufacturing capacity will help us further consolidate the engineering, indigenisation and product support capabilities of both constituent entities and

Vietnam's economic hub Ho Chi Minh city to revive manufacturing sector

Vietnam's southern economic hub Ho Chi Minh city is seeking ways to revive its manufacturing sector, which currently accounts for only 18 per cent of the city's economy, state media reported on Friday

Chemplast Sanmar unit signs deal to manufacture advanced intermediate

Company estimates commercial supplies will start from the fourth quarter of 2023-24

CG Power and Industrial board approves manufacturing capacities expansion

The Board of CG Power and Industrial Solutions Ltd has given its consent to expand the manufacturing capacities of motors at its facilities, the company said on Tuesday. The manufacturing units located at Ahmednagar and Goa would be taken up for expansion at an outlay of Rs 230 crore and for transformers at its plants in Bhopal and Malanpur at an investment of Rs 126 crore, the company part of the diversified conglomerate Murugappa Group said. Meanwhile CG Power and Industrial Solutions Ltd said it has reported a consolidated profit after tax for the quarter ending March 31, 2023 at Rs 426.22 crore. The company had registered consolidated profit after tax at Rs 111.65 crore registered in same period of last year. For the year ending March 31, 2023 the consolidated PAT stood at Rs 962.97 crore as compared to Rs 913.07 crore registered in same period of last year. Total income on consolidated basis grew to Rs 1,917.05 crore for the year ending March 31, 2023 from Rs 1,492.77 crore .

China's non-manufacturing sector continues to maintain expansion in April

The index of new orders in the air transport industry rose for three consecutive months and remained above 70 per cent

Olectra Greentech net profit rises 52% to Rs 27 cr in March quarter

Electric bus manufacturer Olectra Greentech posted a 52 per cent rise in its consolidated net profit to Rs 27.01 crore in the March quarter, mainly on the back of higher revenues. "The consolidated net profit for Q4 FY23 (January to March 2023) was Rs 27.01 crore, as compared to a net profit of Rs 17.77 crore in Q4 FY22 (January to March 2022)," a company statement said on Friday. Its consolidated revenue for the quarter stood at Rs 375.91 crore, up 39 per cent year-on-year, from Rs 271.3 crore in same period a year ago. The consolidated net profit for FY23 was up 86 per cent Rs 65.59 crore as against Rs 35.35 crore in FY22. For FY23, the consolidated revenue increased 84 per cent to stand at Rs 1,090.76 crore as compared with Rs 593.26 crore in the year-ago period. "We are pleased to report strong growth in both our standalone and consolidated revenue and profitability for the year ended March 31, 2023," Olectra Greentech Chairman and Managing Director K V Pradeep said in the ...

JSW Steel to invest $145 mn to upgrade manufacturing operations in US

New projects are expected to be commissioned in FY26, says subsidiary of Indian steel giant

US manufacturing sector contracts for sixth straight month in April

The sector, which accounts for 11.3% of the economy, is being weighed down by the Federal Reserve's fastest interest rate hiking campaign since the 1980

Hero Electric denies receiving ministry letter for subsidy recovery

Rs 500 cr held up with government as unpaid subsidy, says company about electric two-wheeler manufacturing

Caterpillar's Q1 profit rises by 31% on resilient demand, higher prices

The company reported adjusted profit of $4.91 per share, beating Refinitiv analysts consensus of $3.78 per share

Launch 'PLI Plus' to focus on development to boost manufacturing: GTRI

The government should consider launching a 'PLI Plus' scheme with focus on development of new products, industrial designs and enhancing productivity with a view to boost domestic manufacturing, economic think tank GTRI said on Sunday. A production-linked incentives scheme (PLI) is under implementation by the government with a budgetary outlay of about Rs 2 lakh crore for 14 sectors such as white goods, mobile, telecommunication and auto components. The Global Trade Research Initiative (GTRI) report said that creating sustainable and competitive manufacturing is imperative to increase the share of manufacturing in GDP to 25 per cent by 2030, up from 15 per cent at present. "This will require shifting focus to one step back. From quick manufacturing outcomes to R&D, reverse engineering, and deep work. "This can be done under the Make in India framework with the launch of eight PLI Plus initiatives. These initiatives will strengthen the foundation of Indian manufacturing and aspire .