Manufacturing

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

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

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 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 ..

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

In October, Indonesia banned sales of the iPhone 16 because it said Apple had not adhered to rules that require phones sold domestically to have at least 40 per cent locally made parts

An expanded PLI will be a key ask for the DoT during the upcoming pre-Budget inter-ministerial consultations, set to begin soon, officials said

Maharashtra plans to double its GDP to $1 trillion by 2030, focusing on manufacturing, EVs, semiconductors, and power reforms while maintaining its lead in FDI inflows and boosting infra development

Danfoss, a leader in heating, ventilation, air-conditioning and compressors has set a target to progressively ramp up local manufacturing capabilities over the next five years, supporting the Centre's Make in India campaign, the company said on Tuesday. Danfoss India, a subsidiary of Denmark-based Danfoss, earlier this year committed to a Rs 500 crore investment aimed at developing local manufacturing for HVAC (Heating, Ventilation, and Air-conditioning), and refrigeration compressors and controls. As the country's heating, ventilation, air-conditioning, and refrigeration sector continues to expand rapidly, Danfoss management's decision to support its customers through increased localisation and the addition of new product lines for compressors, heat exchangers, and controls will help bring world-class Danfoss solutions to the Indian market, the company said. "India is a key pillar in our global strategy, and we are committed to driving growth and sustainable innovation in the regio

Volkswagen bypassed the 35 per cent duty imposed on Completely Knocked-Down (CKD) units by misclassifying components as individual parts, according to Indian tax authorities

The company has partnered with Zhejiang Meishuo Electric Technology Co., China to locally manufacture latching relays for the energy sector, industrial grids, and other applications in India

On the employment front, they constituted 43 per cent of total non-managerial employees in 2022, up from 17 per cent in 2001

The drop in the prices of steel will impact the operating profitability of primary steel producers in the domestic market, Crisil Ratings said on Thursday. Early-stage steel produced from iron ore is referred as primary steel. Despite an increase in sales volume and lower cost pressures, mainly due to reduced coking coal prices, the operating profit margin will remain at 15-16 per cent in the current financial year, it said. "Lower realisations and flat operating margin will likely drag absolute Ebitda for primary steelmakers 5-7 per cent lower this fiscal, at a time of substantial growth capex," Crisil Ratings Director Ankit Hakhu said. Domestic steel prices are likely to drop 10 per cent on average this fiscal from Rs 57,500 per tonne last fiscal. The first half of this fiscal has already seen average domestic steel prices fall eight per cent from last fiscal's average. While domestic demand is healthy, global steel demand is likely to contract for the third consecutive fiscal.

Large order inflow is likely over next 12-24 months such as 4-5 high voltage direct current (HVDC) electric transmission, locos or train sets among others

Identifying India as a key priority market, Diego Bianchi, general manager, emerging markets and barrel select at Sazerac Company

Big chunk of sales comes from the country despite legal troubles

The government has disbursed close to Rs 4,000 crore or around a fourth of its annual subsidy payment estimate to the eligible beneficiaries under the 14 PLI schemes

The growth boom in manufacturing that India experienced following the shift of focus from public sector to the private sector was driven more by market-friendly than business-friendly interventions

Two newly inaugurated units will manufacture important molecules used in several common antibiotics

Flender India, part of the century-old Germany-headquartered Flender Group, plans to continue investing in the domestic market to accelerate growth in the coming years, a company official said. Over the past four years, Flender's investments in India have nearly "quadrupled," underscoring the market's significance, according to a release. The company operates three production sites in Kharagpur (Kolkata), Chennai and Walajabad in Kancheepuram district, Tamil Nadu, to meet both local and global demand for wind turbine drive gearboxes. To commemorate the Flender Group's 125th anniversary, CEO Andreas Evertz and Flender India CEO Vinod Shetty, accompanied by senior company officials, visited the Tamil Nadu facilities and engaged with employees, according to a company statement issued on Sunday. Approximately 10 percent of Flender Group's 9,000 employees are based in India. Founded in 1899 in Bocholt, Germany, with a focus on wooden pulleys, Flender established its first manufacturing