Page 39 - Manufacturing

BIS makes 80% concession on certification/marking fee for micro scale units

BIS has proposed Quality Control Orders (QCO) for 663 products in the coming time

Many employers think PLI schemes will boost job creation in 2 yrs: Report

A significant percentage of employers expect hiring to increase over the next two years due to Production Linked Incentive (PLI) schemes, under which fiscal incentives ar being provided to several sectors to boost domestic manufacturing, says a report. A TeamLease report said the higher positive hiring sentiment is attributed to the pharmaceutical industry (68 per cent) followed by white goods industry (67 per cent) and textile products (62 per cent). Around 60 per cent of employers expect hiring to increase due to PLI schemes over the next two years. The TeamLease PLI Outlook Report has been prepared on the basis of the employers' reaction towards job creation based on the incentives mentioned by the government in the PLI schemes and their projection towards hiring in the next two years. For the report, 344 mid to senior-level, general managers/ talent acquisition managers across 14 cities and 8 industries in India were surveyed. "The PLI schemes are a revolutionary one. It will

Manufacturing: PM has multiple holes to fill before pvt capital rushes in

Yet, a look at the Indian units of long-established multinationals shows how much help the industrial sector will need

Data revision of previous years behind decline in manufacturing in Q3: CEA

Chief Economic Advisor V Anantha Nageswaran on Wednesday said the performance of the manufacturing sector and growth rate in private consumption expenditure in the December quarter of 2022-23 is appearing 'depressed' because of higher base. According to Nageswaran, the GDP growth base was inflated due to data revision for the past three years. The National Statistical Office (NSO) on Tuesday revised GDP growth data for the past three years -- 2019-20, 2020-21 and 2021-22 and also released the second advance estimates of GDP for 2022-23. While the growth rate for 2021-22 has been revised up by 40 basis points to 9.1 per cent, from 8.7 per cent, the GDP for 2020-21 (Covid impacted year) too has been revised upwards to (-) 5.8 per cent, from (-) 6.6 per cent. For 2019-20 also, the growth has been revised upwards to 3.9 per cent, from 3.7 per cent. However, the second advance estimates for 2022-23 real GDP growth was retained at 7 per cent -- as was projected in first advance estimate

Core sector output at a four-month high of 7.8% in January, shows data

Lower base, expansion in output of seven of eight industries attributed

Labour-intensive manufacturing segments facing external headwinds

Experts say manufacturing is declining due to a slump in overseas demand and production-linked incentive schemes will take time to yield results

India to become manufacturing hub for cutting-edge artillery ammunition

India is slated to become the prime manufacturing hub for advanced 155mm artillery ammunition for all types of [155mm] artillery guns which are operated by over 75 armies worldwide.

Govt to boost semiconductor manufacturing in next 10 yrs: Ashwini Vaishnaw

Union Minister for Electronics & Information Technology, Ashwini Vaishnaw announced that the govt will come up with a program very soon to put the country on a good semiconductor journey

Pakistan's biggest firms halt operations amid raw material, forex shortage

Pak's $3.19 bn in foreign currency reserves mean that the nation is unable to fund imports, stranding thousands of containers of supplies on its ports and stalling production, putting jobs at risk

Apple facing obstacles in move to boost India manufacturing, says report

Apple Inc is facing challenges as it tries to increase production in India, the Financial Times reported on Tuesday, citing people familiar with the iPhone maker's operations

Tamil Nadu's new EV policy offers incentives for manufacturers, users

State offers subsidies and tax breaks, will declare six cities as EV cities

Chemplast Sanmar to spend Rs 680 cr on expanding CMC works at Hosur

Phase-1 of project slated to be completed by Q2 of FY24

Cummins India standalone PAT rises by 50% to Rs 360 cr in December quarter

Engine manufacturer Cummins India standalone profit after tax rose 50 per cent to Rs 360.14 crore in the December quarter of 2022-23 over the same period last year. Cummins India had recorded a profit of Rs 240.97 crore in the third quarter of financial year 2021-22. Total sales for the quarter were Rs 2,144 crore, growing 26 per cent over the total sales of Rs 1,700.67 in Q3FY22. The company said the domestic sales were up 27 per cent at Rs 1,603 crore compared to the same quarter last year while exports sales stood at Rs 541 crore during the reporting quarter, registering an increase of 23 per cent against the same period of the previous fiscal, it said. For the quarter ended December 31, 2022, the company reported record quarterly revenue driven by strong domestic and export revenue coupled with prudent cost management resulting in record quarterly profit, said Ashwath Ram, Managing Director, Cummins India. We continue to see supply chain challenges, especially for specific ...

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