Page 41 - Manufacturing

India set to export mobile phones worth $9 billion in FY23: Report

Phone exports have already crossed the $5 billion mark, twice more than the last year's $2.2 billion

GDP may print at 5.8% in Q2 due to weak manufacturing: SBI research

Citing a weak manufacturing sector coupled with the steep margin compression, SBI Research has pencilled in the country's GDP growth for the second quarter at 5.8 per cent, down 30 basis points from average estimates. The government will release the official numbers on November 30. In a report on Monday, SBI Research headed by Soumya Kanti Ghosh said corporate results, operating profit of companies, excluding banking and financial sector, degrew by 14 per cent in Q2FY23 as against 35 per cent growth in Q2FY22, though the top line continued to grow at a healthier pace. Net sales grew by 28 per cent, while bottom line was down by around 23 per cent from the year ago period. Further, corporate margin seems to be under pressure, as reflected in results of around 3,000 listed entities, excluding banking and financial sector, due to higher input costs with declining operating margins, from 17.7 per cent in Q1FY22 to 10.9 per cent in Q2FY23. Given this and the wide divergence in market ..

Dhruva Space looking to raise $20-25 mn in 2 years for satellite infra

Dhruva Space, which has sent two tiny satellites recently, is looking to raise USD 20-25 million in the next one to two years to create infrastructure facilities here to be able to launch satellites weighing up to 100Kg, Abhay Egoor, co-founder and CTO of the city-based startup said. He also said after the successful launch of Thybolt 1 and Thybolt 2-the tiny satellites into space, the firm is now currently working on a satellite weighing about 30 kg which will be broadly catering to communications and scientific applications, on their P30 platform. "We are looking to raise or invest about USD 20 to 25 million over the next 1-2 years where this amount of capital would be used to invest and build an infrastructure facility for assembly, integration and testing of satellites up to 100 kg class. We are exploring setting up the same facility in Hyderabad. We are already in conversation with parties," Egoor told PTI. He said the decade-old firm has raised USD 8 million funding so ...

India's WPI inflation eases to 8.39% in October from 10.7% in September

The index for manufactured products saw a decline of 0.42 per cent month-on-month (MoM) and the inflation in fuel and power category saw a fall of 1.65 per cent

Active companies in India close to 15,00,000, registrations fall in Sept

The Finance sector showed a small rise of 0.9 per cent in the number of active companies

Apple's contract manufacturers in India eye expansion amid China curbs

Some see Apple's expansion in India in relation to the expected labour shortage in China during the Chinese New Year in February

India has cheapest manufacturing cost globally, bags 31st position: Report

India has been ranked as the nation with the cheapest manufacturing cost ahead of China and Vietnam, according to a report. According to the US News and World Report, out of 85 nations, India has bagged the 31st position in the overall Best Countries ranking. India featured at the 37th spot in the 'Open for Business' category. The report evaluates 85 countries across 73 attributes. Attributes are grouped into 10 sub-categories, including adventure, agility, entrepreneurship, open for business, social purpose and quality of life. Under the open for business sub-category, India has scored 100 per cent when it comes to cheap manufacturing costs. But in 'favourable tax environment', it has scored 16.2 out of 100; 18.1 in the 'not corrupt' category and 3.5 in 'transparent government policies'. Similarly, under the 'quality of life' segment, India has scored 1.9 in 'income equality'; 4.3 in 'safe'; 2.3 in 'well-developed public health system'; and 9.9 in 'economically stable' ...

A leg-up for logistics

The multi-pronged National Logistics Policy is a well-timed initiative

From Energy Equipment to Clean Energy Products, Powergear Sustainability and Reep Motors Scales New Heights in Sustainable Energy Business

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Joe Biden's old tactics are botching the dream of made-in-America EVs

As the EV hype ramps up and a shortage of batteries emerges, industrial giants like SK Innovation Co., Honda Motor Co., etc., have announced billions of dollars of manufacturing facilities across US

UK economy shrank in August, now on brink of recession: Report

Weakness in manufacturing and maintenance work in North Sea oil and gas fields contributed to a 0.3% fall in GDP from July, and the report also showed how a jump in inflation was hitting consumers

Understand conditions that can render warranty void before buying a product

Buy an extended warranty only if there is no duplication vis-a-vis manufacturer's warranty

Govt to adopt digital manufacturing processes: Mahendra Nath Pandey

On the occasion, 175 electric vehicles for Gujarat and Karnataka were flagged off under the FAME Scheme

Reliance, Sanmina completes JV deal to build manufacturing hub in India

Integrated manufacturing solutions company Sanmina Corporation and Reliance Strategic Business Ventures Limited (RSBVL), announced the completion of their joint venture transaction

Samsung sets 5-year plan to lure US chip buyers with tech advances

The company's chip contract-manufacturing unit -- known as a foundry -- is looking to triple its revenue by that year from the 2021 level, Senior Vice President Moonsoo Kang said at a briefing Monday

World factory activity weakens on global slowdown, cost pressures

Those hikes have stoked fears of a sharp downturn in global demand that had underpinned exports

Top Headlines: PM Gati Shakti plan, broad-based rules for PE/VCs, and more

Under a 100-trillion-rupee ($1.2 trillion) mega project called PM Gati Shakti Modi's administration is creating a digital platform that combines 16 ministries

Goldi Solar to invest Rs 5,000 cr to raise module manufacturing capacity

Gujarat-based Goldi Solar is planning to invest Rs 5,000 crore by 2025 to expand its module manufacturing capacity to 6 gigawatt, the company's Managing Director Ishver Dholakiya said on Monday. At present, the total module manufacturing capacity of its plants in Pipodara and Navsari, Gujarat is 2.5 gigawatt (GW), Dholakiya told reporters during a press conference here. "We have plans to infuse over Rs 5,000 crore as part of expansion plans to increase module manufacturing from 2.5 GW to 6 GW," he said while launching HELOC Plus (high-efficiency low on carbon) module series with Heterojunction technology. The renewable energy business expansion will be channelled into auxiliary production, including aluminium frames, junction boxes, backsheet, etc, Dholakiya said. The investment will be made by the year 2025, he said, adding his company also aims to recruit over 4,500 people across various functions, which will increase its workforce to over 5,500. "We plan to hire 25 per cent of

Zetwerk Manufacturing records six-fold growth in GMV to Rs 5,718 crore

The company secured orders worth Rs 11,200 crore at the group level during the year ended March 31, 2022, an increase of 200 per cent over the previous year

Govt tweaks Rs 76k-cr semiconductor, display fab scheme to woo global firms

The Cabinet on Wednesday approved modifications in the scheme for semiconductors and display manufacturing ecosystem, with uniform fiscal support of 50 per cent of project cost for all technology nodes under the ambitious programme. Announcing the decision of the Cabinet, Union Minister Anurag Thakur said the modifications will strengthen the semiconductor scheme, thus raising capacities within the country, encouraging investments, and creating employment opportunities. "Under modified programme, a uniform fiscal support of 50 per cent of project cost shall be provided across all technology nodes for setting up of Semiconductor Fabs," an official release said. Given the niche technology and nature of compound semiconductors and advanced packaging, the modified programme shall provide fiscal support of 50 per cent of capital expenditure for setting up of compound semiconductors / silicon photonics / sensors / discrete semiconductors fabs. "The programme has attracted many global ...