Page 9 - Manufacturing

Govt disburses Rs 1,596 cr in six PLI schemes between Apr-Sep in FY25

The government has disbursed Rs 1,596 crore under Production-Linked Incentive (PLI) schemes for six sectors, including electronics and pharma, during the April-September this fiscal, an official said. The government in 2021 announced PLI schemes for 14 sectors such as telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones, and pharma with an outlay of Rs 1.97 lakh crore. Out of the total Rs 1,596 crore, the maximum amount of Rs 964 crore was disbursed under the PLI scheme for large-scale electronics manufacturing. It was followed by pharma (Rs 604 crore), food products (Rs 11 crore), telecom (Rs 9 crore), bulk drugs (Rs 6 crore) and drones (Rs 2 crore). Incentives disbursed till 2023-24 stood at Rs 9,721 crore, the official said adding the scheme is having a cascading effect on the country's MSME ecosystem. The anchor units that will be built

Keen to have mfg in India, visa issue not affecting operations: BYD

China's electric vehicle major BYD is keen to have manufacturing operations in India as soon as 'all factors' suggest a 'go ahead' and the plan is under constant evaluation, according to a top official of the company's Indian arm. Despite the political tension between India and China resulting in visa issues, the company has not felt any impact of it on its operations in the country and has also found acceptance of its products from the 'pragmatic' Indian customers, BYD India Head of Electric Passenger Vehicles (EPV) Business Rajeev Chauhan told PTI. In an interaction on the sidelines of the Auto Expo held as part of the Bharat Mobility Global Expo 2025, he said the company, which unveiled its premium electric SUV SEALION 7, will be considering the homologation route for more models to be able to sell more vehicles in India. "These kinds of plans, manufacturing plans are constant evaluation which we are doing...We are keen, we would love to do that as soon as all factors suggest tha

Ramkrishna Forgings Q3 results: Net profit grows 21% to Rs 100 crore

Ramkrishna Forgings has reported a 21 per cent rise in its net profit to Rs 100 crore in the December quarter, driven by higher income. It had posted Rs 83 crore net profit a year ago, the company said in an exchange filing on Friday. Its total revenues rose to Rs 953 crore from Rs 903 crore in the year-ago quarter. For April-December, the company posted a 49 per cent growth in its net profit to Rs 355 crore against Rs 239 crore in the nine months of last fiscal. The company's revenues rose to Rs 2,774 crore from Rs 2,603 in April-December in the previous financial year. Homegrown Ramkrishna Forgings is a manufacturer and supplier of closed-die forgings of carbon and alloy steel, micro-alloy steel, and stainless steel forgings. The company has a presence in the US, Mexico, Turkiye and Belgium. In a statement, the company's MD Naresh Jalan said, "We have reported a strong performance in the third quarter. Our growth has been driven by a higher share of business across existing ...

TCS expects retail, manufacturing revival after banking recovery, says CFO

Retail and manufacturing are the second- and fourth- largest revenue contributors to the $29 billion behemoth

Manufacturing sector sees decline in productivity, says ASUSE survey

Notably, the rise in GVA per worker is the highest in manufacturing when the survey for 2015-16 is compared to the latest one

India's manufacturing PMI slips to 12-month low of 56.4 in December

Pranjul Bhandari, chief India economist at HSBC, said that India's manufacturing activity ended a strong 2024 on soft note, amidst more signs of a slowing trend, albeit moderate, in industrial sector

151 steel standards prepared by BIS incorporated in Quality Control Order

The government on Thursday said that 151 steel standards formulated by the Bureau of Indian Standards (BIS) have been incorporated in the Quality Control Order (QCO) so far. This exercise is continuing towards the goal of formulating standards for all the steel consumed in the country. The import of steel consignment is also subjected to scrutiny to check supply of any substandard steel consignment, the steel ministry said in a statement. The government has been taking several steps from time to time to ensure quality in steel production. Measures have been taken to formulate standards, for the steel consumed in the country and incorporate them in the Quality Control Order (QCO). Standardization involves setting up of uniform specifications, testing methods, and manufacturing processes for steel production. This ensures consistency in the quality of steel across different manufacturers. Such steel is required to adhere to the standard defined by BIS and domestic as well as foreig

Europe, Asia's factories end 2024 on weak footing as Trump 2.0 risks mount

U.S. President-elect Trump has pledged to impose tariffs across the board, with bigger barriers on imports from three major trading partners - Mexico, Canada and China

China's manufacturing activity growth slows as recovery remains bumpy

The Caixin manufacturing purchasing managers index fell to 50.5 from 51.5 in November, according to a statement released by Caixin and S&P Global on Thursday

The India story: Progress in manufacturing sector but key challenges remain

The fourth part of the series assesses what it will take to encourage domestic manufacturing, while also being an alternative to China

Chinese workers found in 'slave-like conditions' at BYD's Brazil facility

BYD has cut ties with its contractor Jinjiang Construction Brazil Ltd, and pledged to protect the rights of all subcontracted workers

Zetwerk records Rs 17,564 cr GMV in 2023-24, valuation at $3.1 billion

Zetwerk raises $90 million in 2024, led by Khosla Ventures, Rakesh Gangwal, and Baillie Gifford, increasing its valuation to $3.1 billion

Focus on trade infra, MSMEs to help India double share in global trade: CII

Deeper integration into global value chains, enhanced digital trade infrastructure and a focus on building the competitiveness of MSMEs will help India more than double its share in global trade from the present 2 per cent, CII said on Wednesday. Chairman of the CII national committee on EXIM Sanjay Budhia said that the chamber is committed to working closely with the government to address critical challenges which hinder manufacturing and export growth. "The journey will require deeper integration into global value chains, enhanced digital trade infrastructure, and a focus on building the competitiveness of MSMEs," he said. To further unlock the potential of exports, he suggested a common online portal for issue of circulars pertaining to various ports and locations. There is also a need to adopt best practices being followed by developed countries and implement the CAARR (Customs Authority on Advance Ruling) Regulation, 2021 as it would contribute to reduction of global trade cos

Next step is establishing manufacturing zone for telecom sector: Scindia

Scindia said that the manufacturing zone is the next step following the establishment of the one lakh BSNL towers across the country and the upgrade of 5G technology

India's semiconductor ambitions take wing but water, talent issues remain

Semiconductor manufacturing requires extremely large volumes of pure and cold water, which only some states have; attracting the right talent also a challenge

3,000 MW electrolyser manufacturing capacity coming up in India, says govt

India is in the process of providing viability gap funding for electrolyser manufacturing capacity of about 3,000 MW per annum to boost green hydrogen production in the country, Parliament was informed on Tuesday. This assumes significance as India had launched the National Green Hydrogen Mission with an initial outlay of Rs 19,744 crore in January 2023. The Mission aims to develop green hydrogen production capacity of at least 5 MMT (Million Metric Tonne) per annum with an associated renewable energy capacity addition of about 125 GW in the country. "For Electrolyser Manufacturing, contracts have been awarded/are under process for a capacity of 3,000 MW per annum," Minister of State for New & Renewable Energy Shripad Yesso Naik said in a written reply to Rajya Sabha. He further said for Green hydrogen production, capacity has been awarded for 4,12,000 tons per annum. The Mission also aims to attract over Rs 8 lakh crore in total investments and creation of over six lakh jobs with

Lenskart plans to build largest eyewear manufacturing facility in Telangana

The Gurugram-based eyewear firm has signed a memorandum of understanding (MoU) with the Telangana government to establish the facility at Fab City

LG to set up new plant at Andhra, fears competition from parent entity

LG Electronics India has plans to set up a new plant in Andhra Pradesh to boost its manufacturing capacity in the country, though it also fears competition from its South Korean parent entity. Besides, it is increasing the sourcing of raw materials from the local market, which is helping it meet consumer demands and lower its inventory and related costs, allowing the company to competitively price the products, said LG in its DRHP filed with markets regulator Sebi. However, it also added that despite localisation efforts, there is a persisting reliance on foreign components and finished products, especially in the premium segment. "Key imports are primarily sourced from countries such as China, South Korea, and Japan, reflecting a strategic focus on enhancing product quality and technological advancement," it said. Moreover, dependence on its top-five suppliers and top-10 suppliers that contributed 21.45 per cent and 31.44 per cent to its total purchase of raw materials and ...

Electronics component makers seek Rs 72,500 cr to cut reliance on imports

Electronics component makers body Elcina has sought a Rs 72,500 crore (USD 8.57 billion) support package to boost local production of raw materials and cut reliance on imports, an industry official said. Electronic Industries Association of India (Elcina), the country's oldest industry body of the Indian electronics sector, estimates that the demand-supply deficit for inputs in the electronics segment will increase to USD 248 billion (about Rs 21 lakh crore) by 2030 to cater to projected USD 500 billion electronics production and it would be met largely by imports. The industry body expects that the government's support for non-semiconductor components can help reduce the deficit in the country by USD 146 billion (Rs 12.36 lakh crore) to USD 102 billion (Rs 8.63 lakh crore). Elcina Secretary General Rajoo Goel told PTI that unlike finished products where the factory output can go up to 16 times the investment, an electronic components factory can at the most generate an output of ..

Union Budget 2025-26: Economists stress need for manufacturing policy

Call for reining in food inflation and raising investment in pre-Budget talks