Page 4 - Manufacturing

BFSI, retail, manufacturing to drive Salesforce growth: South Asia CEO

BFSI, retail and manufacturing to drive the US-based IT firm Salesforce's growth in India over the next three years, a top executive of the company said. "The three-year agenda remains more or less the same. We still see a lot of growth coming out of the BFSI sector and retail sector. We see plenty of growth in manufacturing, travel, tourism, hotels and healthcare. So many of these sectors are showing pretty steady and good growth," Salesforce South Asia CEO Arundhati Bhattacharya told PTI. "Even smaller sectors, like real estate and education are showing pretty good growth. So in India, I would say that the growth remains pretty consistent in the areas that we have been in, and we continue to see momentum over there. With the newer kinds of technologies that are coming in, there is a lot of openness as to how it should be developed, or how it should be absorbed," she said. The global customer relationship management (CRM) technology solutions giant Salesforce expects its revenues t

Smartphone makers may pay over ₹3 trillion in taxes by end of PLI

Smartphone sector's GST collections are likely to top ₹65,000 crore this financial year; the smartphone industry has credited the PLI scheme for boosting exports

Behind the electronics surprise: India's path to $500 billion by 2030

India's one Achilles heel in electronics production has been its heavy dependence on smartphones, that too a lot on exports

Eli Lilly to invest over $1 billion in India to boost manufacturing

Eli Lilly, which launched its obesity drug Mounjaro in India earlier this year, plans to invest $1 billion to strengthen manufacturing partnerships and set up a new Hyderabad facility

New electronic component plan to double local value addition to 40%: Elcina

Record proposals submitted under India's first scheme for non-semiconductor electronic components are likely to double local value addition in the production of finished goods to up to 40 per cent over the next five years, according to industry body Elcina. The electronics component makers' body has urged state governments to enhance ease of doing business to support the Centre's Electronics Component Manufacturing Scheme (ECMS). ECMS has received investment proposals worth Rs 1.15 lakh crore, which is more than double the target of Rs 59,000 crore envisaged under the scheme. "This is a game changer and has the potential to boost value addition of India's electronics manufacturing eco-system from the current 15-20 per cent to 35-40 per cent over the next 5 years and beyond," Elcina Secretary General Rajoo Goel said in a statement. A total of 249 companies have submitted applications, which will be screened by a committee before approval. Union Minister for Electronics and IT Ashwi

China's factory activity slump extends to sixth month, longest since 2019

The official manufacturing purchasing managers' index was 49.8, versus 49.4 in August, the National Bureau of Statistics said

Wheels India inks SHPAC tech deal to boost global hydraulic cylinder growth

Wheels India's agreement with South Korea's SHPAC aims to strengthen its hydraulic cylinder segment through technology transfer, driving global growth and new opportunities

Villages now lead India's manufacturing output, urban share falls below 50%

The latest Annual Survey of Industries 2023-24 shows that it was at 49.5 per cent, the fourth year in a row that urban areas have been a minority contributor to manufacturing output

The Blueprint Discourse | Kalyani Group's Rajinder Bhatia on defence manufacturing reforms

Kalyani Group’s defence head Rajinder Singh Bhatia has called for scaling India’s defence startup ecosystem to 100,000 companies and reforming acquisition cycles to match rapid tech changes.

Temasek seeks to acquire minority stake in Nash Industries for $120-150 mn

Private equity firms like EQT AB, Kedaara Capital, Carlyle Group, and ChrysCapital are also reportedly in the fray to pick up a stake in egineering solutions provider Nash

Thyssenkrupp receives non-binding bid from Jindal Steel for TKSE unit

Thyssenkrupp said it would closely examine the offer "particularly with regard to economic sustainability, the continuation of the green transformation and employment at our steel sites"

Food prices drive WPI inflation to 4-month high of 0.52% in August

Primary food articles recorded a reduced deflation in August, led by an acceleration in the prices of wheat, milk and protein-rich items like egg, meat & fish

No interest on capital goods cleared into DTA after use in bonded warehouse

Manufacturing in bonded warehouses is covered under Section 65 of the Customs Act, 1962 (CA 62) and Manufacture and Other Operations in Warehouse (No. 2) Regulations, 2019 (MOOWR)

India's manufacturing future bright; policy stability key: Maruti Suzuki

The next many decades belong to India as the global economic powerhouse, and it will be essential to continue demonstrating policy stability, as the country aspires to be the world's manufacturing hub, Maruti Suzuki India MD and CEO Hisashi Takeuchi said on Friday. Amid a turbulent global geopolitical and economic period, lies an extraordinary opportunity for India to position itself as a trusted, resilient, and sustainable manufacturing hub, he said while speaking at the annual convention of the Automotive Component Manufacturers Association of India (ACMA). "When we look back at history, every few decades a new nation rises as an economic powerhouse," he said, citing examples of how the US, Europe, Japan and Asian Tigers (Hong Kong, Singapore, South Korea, and Taiwan) have had their moments spanning from the early to the late 20th century. "The last three decades have belonged to China, as it became the factory of the world. And now, the next many decades belong to India," Takeuch

Reliance Consumer to invest ₹1,500 crore in Nagpur food unit by 2026

FMCG firm Reliance Consumer Products Ltd (RCPL) will invest over Rs 1,500 crore to set up an integrated facility for food products & beverages at Katol in Maharashtra. RCPL, the FMCG arm of billionaire Mukesh Ambani-led Reliance Industries, has signed a Memorandum of Understanding (MoU) with the Maharashtra government to set up the unit in Nagpur. The unit will provide direct employment to more than 500 people, according to a video posted on the social media account of Maharashtra Chief Minister Devendra Fadnavis. The proposed manufacturing unit will commence manufacturing in 2026. As per the agreement, the state government will facilitate RCPL to obtain necessary approvals, clearances and financial incentives. In its annual general meeting last month, Reliance had announced that it "will invest Rs 40,000 crore (USD 4.7 billion) to create Asia's largest integrated food parks with AI-driven automation, robotics, and sustainable technologies, securing lasting cost leadership. RCPL,

Iron Pillar bets on manufacturing revival, AI disruption amid trade war

Iron Pillar sees manufacturing and AI as India's next big opportunities, citing global trade tensions, supply chain shifts and the need for industrial self-reliance

If OEMs pass on benefits, freight costs may go down: Transporters

According to Singal and several other truck operators, the road logistics sector is so competitive that passing on benefits is really quick

Govt may line up four schemes to soften Donald Trump's tariff blow

Cabinet likely to take up proposal on Wednesday

Tyre maker Ceat expects Camso integration to boost its topline by 10-15%

Tyre maker Ceat on Tuesday said it expects the Camso brand integration with itself to give a 10-15 per cent boost to its topline. The Mumbai-headquartered firm reported revenue of Rs 13,218 crore for FY25. Last December, Ceat entered into a definitive agreement with Michelin to acquire its Camso brand's off-highway construction equipment bias tyres and tracks business for about USD 225 million. Ceat is currently in the process of integrating Camso with itself. "Once we integrate it fully across the supply chain, the immediate topline impact could be 10-15 per cent. The bottom line impact in terms of margin accretion, etc, would take some time to kick in about four to six quarters," Ceat MD and CEO Arnab Banerjee said in a virtual press conference. The company expects the deal to be overall margin accretive for it, he added. The Camso acquisition, according to the tyre maker, is significant for its ambition to become a leading global player in the high-margin off-highway tyres (OH

At 59.3, manufacturing PMI rises to nearly 18-year high in August

Improvements in demand continued to underpin robust increases in factory orders and production