Page 38 - Manufacturing

Govt issues 63 show cause notices to makers, importers of weighing machines

The government has issued 63 show cause notices to the manufacturers and importers selling weighing and measuring instruments on e-commerce platforms, seeking details of compliance with legal requirements. It has been observed that some manufacturers and importers of these instruments are selling the person weighing machines and kitchen scales on the e-commerce platforms without complying with the legal provisions, an official statement said on Tuesday. "Centre, through the Department of Legal Metrology has issued 63 show cause notices to the manufacturers/importers of the weighing and measuring instruments for seeking details of compliance," it said. It noted that unauthorised sales on e-commerce sites have not only created deficiency in service to the consumer but have also caused revenue loss to the government. "The notices were issued to manufacturers/ importers/ sellers on e-commerce platforms, seeking details of the approval of model, manufacturing/importer/dealer license and

Insured assets worth Rs 150 cr affected in fire at Neemrana unit: Havells

Assets worth Rs 150 crore, which were fully insured, were affected in the massive fire at its Neemrana-based manufacturing unit, said consumer electrical goods manufacturer Havells India. On July 27, a massive fire had broken out at Havells factory at Neemrana in Rajasthan's Alwar district. There was no human loss/injury and the entire building, plant and machinery, and inventories at the Neemrana plant were fully insured, said a regulatory update from Havells India. "The company has now ascertained the book value of the assets affected due to the incident as around Rs 150 crore, which is fully insured," it said. Havells' Neemrana unit is the largest and most automated water heater plant in India. Established in 2004 and spread over 1,94,249 square metres, Havells also manufactures lighting fixtures, CFLs, HID lamps and motors here. For the financial year ended on March 31, 2022, Havells India's revenue was at Rs 13,888.53 crore.

July auto sales rise 10% YoY as chip availability improves: SIAM

Market for entry-level passenger cars, two-wheelers and three-wheelers yet to recover

Meity looks to tweak the PLI scheme for top IT hardware companies

In its first year, the PLI scheme for IT hardware did not perform according to expectations

Need to boost manufacturing to create jobs, says Anand Mahindra

"Only 40 per cent of the labour force that is capable of working is actually working or looking for work. The biggest sufferers are youth and women," said Mahindra.

Engineering company Fabrication Bazar raises Rs 7 cr in seed round

Fabrication Bazar, which was founded in 2016 by Dwaipayan Dutta and Mohit Garg, has developed a cloud fabrication and tracking platform for manufacturing

Ford India sets Aug 10 deadline for employees to conclude severance talks

Ford India had increased its offer from 87 days to 124 days of average equivalent wages per completed years of service

What is the DESH Bill?

The govt is likely to introduce the Development of Enterprise and Service Hubs (DESH) Bill in the upcoming monsoon session of Parliament. How will it overhaul the ecosystem of special economic zones?

3 workers succumb to burns after fire at candle making unit in Karnataka

Three people, who were scalded in a fire tragedy at a sparkler birthday candle manufacturing factory, have succumbed to their injuries, police here said on Sunday.

Why have Special economic zones (SEZ) not taken off in India?

Special economic zones have delivered mixed results in India. The government is now working on a new law to address some of the problems. Here's India's experience with SEZs so far and the challenges

Godi India to set up lithium-ion cell giga factory; gets BIS certification

Godi India is the first in the country to have certification from the Bureau of Indian Standards' for lithium-ion cells made using its home-grown technology

No respite for manufacturers as inflation continues to weigh on the economy

As India's business optimism slid to a 27-month low of 50.9, economists say they do not see a respite for manufacturers from cost inflation in the near term

Zetwerk buys Pinaka Aerospace to expand defence manufacturing business

Zetwerk has made two other acquisitions and the total value of all three deals is approximately Rs 100 crore

Murugappa Group posts 23% rise in net profit in FY22, manufacturing grows

Murugappa Group's turnover increased by 31 per cent to Rs 54,722 crore, as against Rs 41,706 crore in 2020-21

Indian economy gains momentum on pent-up demand after reopenings

The upturn in recovery of Indian economy was fueled by an expansion in services activity and a robust growth in core infrastructure industries

Stalin launches Centre for advance mfg; urges faster industry 4.0 adoption

Two centres at Sipcot Industrial Parks inn Hosur and Sriperumbudur also launched; Maturity Index survey also set up to help companies achieve their Industry 4.0 goals

Domestic toy makers see surge in sales after dip in Chinese imports

Sales rise for domestic players after India last year banned sale of toys that are not certified by Bureau of Indian Standards

Groyyo raises $40 million in Series A funding round led by Tiger Global

These funds will be utilised to scale up the team across manufacturing clusters in India and Bangladesh and key demand belts in the United States and European Union

In expansion mode, KSP INC announces the opening of 1 Lakh Sq. Ft manufacturing plant in Noida

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Syngene's Q4 PAT up 7% to Rs 148 cr; revenue rises 15% to Rs 758 cr

The company had reported a PAT of Rs 138 crore in the January-March period of 2020-21