Page 33 - Manufacturing

IEA will support India's green tech manufacturing roadmap: Fatih Birol

In a Q&A, the executive director of global agency outlines his plans to discuss with the govt measures to divert critical mineral production and refining

BIS issued 29 licences to foreign toy manufacturing units, says govt

Sixteen licences were issued to Vietnamese units, four licences to Malaysian units and the rest were issued to Hungary, Indonesia, Thailand, Sri Lanka and Czech Republic

Azad Engineering is India's first supplier of parts for nuclear turbines

Azad Engineering has signed a long-term supply agreement with General Electric (GE) Steam Power for supply of nuclear turbineparts

Rs 8,083 crore for PLIs in Budget: The lion's share goes to electronics

As much as Rs 4499 core has been earmarked for large-scale manufacturing of electronics, including mobile devices

Govt hikes import duty on toys to 70% to boost domestic manufacturing

The government on Wednesday increased the import duty on toys and its components to 70 per cent with a view to cut inbound shipments of these products and boost domestic manufacturing activities. Similarly, import duty on bicycles has also been hiked to 35 per cent from 30 per cent, according to a Union Budget document. Import duty hike on toys and parts of toys excludes parts of electronic toys. Earlier, basic customs duty on toys was increased from 20 per cent to 60 per cent in February, 2020 to promote local manufacturing. Toys worth Rs 2,960 crore were imported into India earlier but steps by the government helped in reducing the imports to Rs 870 crore in 2021-22. On the other hand, the exports of toys have increased by 61 per cent from Rs 1,612 crore to Rs 2,601 crore in 2021-22. Earlier, the government issued Toys (Quality Control) Order, 2020 in February 2020. As per the order, toys have to conform to the requirements of relevant Indian standards and bear the standard ma

Samsung to continue with chip investment, undeterred by 8-year-low profit

The share prices of Samsung and compatriot SK Hynix Inc fell 3 per cent and 2.2 per cent respectively on Tuesday

Indian factories growing larger, getting clustered: Economic Survey

Number of persons engaged in larger factories was up 13.7 per cent compared to 4.6 per cent in smaller factories

Manufacturing landscape shows uneven growth across categories: Eco Survey

As companies adapt their manufacturing and supply chain strategies to build resilience, India has a unique opportunity to become a global manufacturing hub this decade

India's solar module manufacturing capacity to reach 95 GW by 2025: Report

India's solar module manufacturing capacity is expected to reach approximately 95 GW by the end of 2025, according to Mercom Capital. The solar module manufacturing capacity as of September last year was 39 gigawatt (GW), the research firm said in its latest report. "India's solar module manufacturing capacities announced...39 GW at the end of September 2022 and is expected to reach approximately 95 GW by the end of the calendar year (CY) 2025," the report titled 'State of Solar PV Manufacturing in India' said. Indian PV (photovoltaic) manufacturers are strategically poised to expand their production capacities and adopt new technologies in the coming years on the back of government incentive programmes, the report said. States are promoting domestic solar manufacturing through fiscal and non-fiscal incentives under industrial, electronics, and solar policies, it added. In September 2022, the Cabinet approved a Rs 19,500-crore production linked incentive (PLI) scheme on 'national

Freeze import duties for next five years; cut customs levy slabs to 5: GTRI

The government should not make any changes in the customs duties for at least five years with a view to promoting domestic manufacturing, economic think tank GTRI said on Wednesday in its pre-Budget recommendations. The Global Trade Research Initiative (GTRI) also suggested retaining import duty on components; removal of inverted duty issues; and reduction of customs duty slabs to 5 from 25 at present to avoid confusion and minimise litigation. These suggestions will prepare India adequately to meet the challenging global economic environment, it said. The think tank noted that countries worldwide have turned inwards to brace for the tough global conditions and against this background India should announce a five-year duty freeze. "Any change may upset...production linked incentive scheme (PLI); phased manufacturing programme and other manufacturing initiatives. The government must reduce import duties only when a clear economic case is present," it said. The duty freeze should be

'Apple looks to scale up manufacturing in India', says Piyush Goyal

iPhone-maker Apple is looking to scale up its manufacturing in India as the business environment is helping global firms make the country their base, Commerce and Industry Minister Piyush Goyal said on Monday. He said that India offers a rule of law, and transparent government policies and business models which help it become a preferred destination for foreign investors. Talking about success stories of certain foreign companies, he said Apple already have about 5-7 per cent of their manufacturing in India. "If I am not mistaken, they are targeting to go up to 25 per cent of their manufacturing. They launched their most recent models from India, manufactured in India." The minister was speaking at the inaugural session of the B20 India Inception Meeting here, which was organised by industry chamber CII. Citing another example of a foreign company in the earth movers machine sector, the minister said that because of the competitiveness of India's manufacturing, that firm is supplyi

Chexit, in parts: Reshoring, friend-shoring and billions of dollars in sops

Good or bad, India's current policy thrust on PLIs, capital subsidies, etc, is in line with the East Asian trend, if not global, notes T N Ninan

India to be manufacturing economy to realise 'Make in India' goal: Pradhan

Union Education Minister Dharmendra Pradhan on Sunday said India has to become a manufacturing economy for achieving the 'Make in India' goal. He said India currently has the momentum to achieve it. "Until India becomes a manufacturing economy, it will continue to buy goods from others as a purchasing economy," the minister, who also holds the skill development and entrepreneurship portfolio, said. Addressing a programme on 'Purvodaya - an instrument for Act East policy', Pradhan said economic empowerment in the eastern region has to be achieved by providing employment. "India will get the demographic dividend for the next 15 years, which eastern India will get for 25 years," he said. The minister said India has not only made strides on the political and diplomatic fronts, but also made a mark by providing COVID vaccines to 140 countries, of which 40 received those as a gift. Commending Kolkata's role as a centre of renaissance in India over the last three centuries, he said the

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Manufacturing the future

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Indian GDP pegged to grow at 7% in FY23: NSO's advance estimates

The output of the manufacturing sector is estimated to decelerate to 1.6 per cent as against a growth of 9.9 per cent in FY22

Green hydrogen manufacturing to come under PLI scheme: R K Singh

The minister was speaking a day after the Union Cabinet approved an initial outlay of Rs 19,744 crore for the National Green Hydrogen Mission

Govt studying feasibility of setting up industrial parks for space tech

It wants to ramp up indigenous manufacturing of satellite components, space launch vehicles, navigation systems

China factory activity worsens in Dec after sudden reversal of Covid Zero

The official manufacturing purchasing managers index fell to 47 this month from November's 48, the National Bureau of Statistics said Saturday

Weak demand led to 8% decline in 'Make in India' smartphone shipments

Economic headwinds, poor consumer demand, and market uncertainties led to a 8% fall in 'Make in India' smartphone shipments Y-o-Y in FY23Q3 to reach over 52 million units, a new report said