Page 38 - Manufacturing

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 .

Apple's emerging India play, strategy notably different from Vietnam

In India, Apple has decided to focus on a few products but on a large scale, as they did in China, instead of assembling the entire range of its products in smaller volumes

Reliance Retail enters JV with Circle E Retail for toy manufacturing

Reliance Retail, the country's leading retailer which owns iconic British toy brand Hamleys and home-grown toy brand Rowan, has entered into a joint venture with a Haryana-based firm for local manufacturing to meet the growing demand. The company has entered into a joint venture with Sonipat, Haryana-based Circle E Retail to vertically integrate its toy business. "We also had a JV with Circle E retail for toy manufacturing for vertical integration for our toys retailing business," said Reliance Retail CFO Dinesh Taluja during an earnings call last week. The company is now working on a strategy of integrating processes from design to shelf, according to industry sources. Under this, Reliance Retail would have control over the entire aspects of the toy ecosystem, right from designing and manufacturing to retailing of the product. This will also help Reliance reduce dependency on third-party manufacturers in phases. This new venture will cater for both the toys brands - Hamleys and

Localisation plan: Indian firms to make key components for Apple

This will push the extent of domestic value addition in iPhones

China's share in India's import basket declines to 13.79% in FY23: Govt

China's share in India's import basket has declined to 13.79 per cent in 2022-23 from 15.43 per cent a year ago, with inbound shipments of major items like fertilisers and electronic goods coming from alternative markets, the Commerce Ministry said on Thursday. However, in absolute terms, the total imports from China increased to USD 98.51 billion during the financial year ended March against USD 94.57 billion in the previous fiscal. As per the latest trade data issued by the Commerce Ministry, India's overall imports increased by 17.38 per cent to USD 892.18 billion from USD 760.06 billion in FY 2021-22 (April-March). Meanwhile, India's exports to China fell to USD 15.32 billion in FY23 from USD 21.26 billion a year ago, showing a negative growth of nearly 28 per cent, the data showed. India's overall exports (Merchandise and Services combined) in FY 2022-23 (April-March) is estimated to exhibit a positive growth of 13.84 per cent to USD 770.18 billion from USD 676.53 billion in .

Campuses turn to core engineering, manufacturing amid IT hiring slump

Inviting more firms for placements, tap into stronger, better-performing sectors

Manufacturing PMI at 3-month high of 56.4 in March as input costs decline

Companies expect customers, new products, advertising to support sales for 12 months: S&P Global survey

Shortage of electronic parts may affect production in FY24: Maruti Suzuki

Firm has already posted a 5.6 per cent dip in March even as it says it took all possible measures to minimise the impact

DRDO transferring technology to encourage mass production in defence sector

The current DRDO policy for transfer of technology came into force on August 19, 2019

Govt okays electronic manufacturing cluster in Hubli; second in Karnataka

Govt eyes investments worth over Rs 1,500 cr, creation of over 18,000 jobs. Nine companies have already committed to making investments of Rs 340 crore with an employment potential of 2,500

Samsung to invest in smart manufacturing capability, research in India

Korean electronics major Samsung will invest in setting up smart manufacturing capabilities at its largest mobile phone plant in Noida to make production more competitive, company's global head for mobile business said here on Monday. Samsung Electronics President and Head of Mobile eXperience Business T M Roh in response to a PTI query on company's investment plan in India said that the company will continue to invest in research and development facility in the country. "We will continue our investment to bring the optimised and or smart factory to the Noida facilities. We will continue our investment there. I believe this our investment for the smart factory will bring competitiveness in the production," Roh said. Samsung has its biggest manufacturing facility in Noida. The company this year started manufacturing its premium Galaxy S23 series in India. "We have biggest research and development centre here. For the new innovation we will continue our investment in this area," Roh

US manufacturing output ekes out gains in Feb due to high interest rate

The Institute for Supply Management's measure of national manufacturing activity has contracted for four straight months

Manufacturing output in IIP still shows weakness as headline numbers grow

One reason for decline is muted domestic demand, particularly in rural areas due to high inflation

India's manufacturing growth to continue in Q4, says Ficci survey

The responses have been drawn from over 400 manufacturing units from both large and SME segments with a combined annual turnover of over Rs 10 trillion

Will take forceful measures to ensure high-end manufacturing: Xi Jinping

This comes against the backdrop of shifts of production capacity to US, neighbours

DOMS buys 30% stake in Delhi-based toy maker Clap Joy for undisclosed sum

The move is part of the acquirer's strategy to expand into newer related-product segments and leverage its global distribution reach

Atmanirbhar push: Rs 7,000-cr PLI boost for toys, bicycle components soon

Commerce and Industry Minister Piyush Goyal had said the finance ministry regularly keeps allocating money for PLI