Page 2 - Indian Industry

What does it take to decarbonise India's industrial base?

Decarbonising India's industrial juggernauts is not a distant dream anymore

Yogi govt formulates plan to create 'Safe Industrial Area' in Uttar Pradesh

Chief Minister Yogi Adityanath led-Uttar Pradesh government is set to enhance the security of industrial areas in line with its safe city plan.In alignment with CM Yogi's vision, the Uttar Pradesh State Industrial Development Authority (UPSIDA) has initiated work on creating a 'Safe Industrial Area' modeled after the Safe City concept. Projects are underway to ensure the safety of industrial areas, according to a government release.As part of this initiative, industrial areas are being equipped with CCTV cameras, aiming to capture every activity to enhance security. Additionally, the construction of pink toilets, fire stations, and police posts is also in progress.Approximately Rs 235 crore is being planned to be allocated for these projects. UPSIDA has started giving concrete shape to this plan in 70 industrial areas, the release said.Mayur Maheshwari, the Chief Executive Officer (CEO) of UPSIDA, formulated the plan for a Safe Industrial Area, allocated a substantial budget of also ..

'Gross leasing of industrial-warehousing space down 12% across 5 cities'

Leasing of Industrial & warehousing spaces during April-June fell 12 per cent year-on-year to 40 lakh square feet area across five major cities mainly due to lower demand in Delhi-NCR and Chennai, according to Colliers. Real estate consultant Colliers India released its India industrial and warehousing market snapshot for the April-June quarter of this calendar year, showing the gross leasing in April-June across five cities fell 44 pc from the previous quarter. As per the data, leasing of industrial and warehousing space in Pune region rose 15 per cent to 10 lakh (1 million) square feet during April-June period. Mumbai also saw a 12 per cent increase in demand to 9 lakh (0.9 million) square feet in the second quarter of this calendar year. The leasing in Bengaluru went up 17 pc to 7 lakh (0.7 million) square feet during April-June. However, the demand remained subdued in Chennai and Delhi-NCR. The absorption of industrial and warehousing space in Delhi-NCR fell sharply by 49 per

Toy industry seeks resolution of GST anomaly, PLI scheme to boost growth

Toy manufacturers have urged the government to resolve a GST (Goods and Services Tax) anomaly and immediate roll-out of the production linked incentive scheme to boost the growth of the sector. These issues were raised by the industry during a meeting called by the Department for Promotion of Industry and Internal Trade (DPIIT) on July 8 here. The meeting was attended by representatives of global and domestic toy manufacturers, retailers, associations, and government officials to discuss the opportunities in the domestic toy sector. It was chaired by DPIIT Secretary Rajesh Kumar Singh. Toy Association of India (TAI) Senior Vice-President and Little Genius Toys CEO Naresh Gautam, who attended the meeting, said that besides PLI and GST, the industry has urged for resumption of Credit Linked Capital Subsidy Scheme (CLCSS). "PLI is the need of the hour as it would help in tapping huge business opportunities," Gautam, who has been making wooden toys for the last 32 years, said. He adde

Corporate India's health insurance safety net doesn't cover everyone

Majority of staff in key business sectors lack protection, shows data from listed companies

GTRI calls for simplifying PLI scheme, cautions against misuse by industry

The government should consider simplifying the criteria for grant of fiscal incentives under the PLI scheme while guarding against possible misuse of those support measures by the industry, a report by think-tank GTRI said on Wednesday. The government has rolled out Production Linked Incentive (PLI) scheme for 14 sectors, including telecommunications, electronics, white goods and pharma with an outlay of Rs 1.97 lakh crore. Cautioning the government about the possible misuse of the incentives, the Global Trade Research Initiative (GTRI) said firms may easily manipulate production levels through their supporting manufacturers, group companies or contract manufacturers. Citing an example, the report said the government had to suffer huge revenue loss in the past due to the misuse of a 'Target Plus' scheme during 2003-06. "Departments implementing PLI schemes may study the Target Plus scheme misuse and be vigilant. The risk compounds when incentive is granted on quarterly production,"

G20 buzz raises hopes for industry in Kashmir; security tightened

Srinagar gets a facelift and a thick security cover for the three-day meeting

Sanjay Nayar assumes position of vice-president of Assocham

Assocham has announced the appointment of global financial markets expert Sanjay Nayar as its new vice-president

R&D: An inside job

For innovation to power economic growth, Indian industry must raise its investment in in-house R&D five-fold

Industry body seeks lifting curbs for nonpolluting work in construction

An industry delegation has requested Centre to consider exempting nonpolluting construction activities from ban

I owe my success to institutional reforms over 30 years: Gautam Adani

As both he and PM Modi are from the same state, it makes him the easy target of baseless allegations, says Adani

DPIIT seeks views of ministries on draft national retail trade policy

The Department for Promotion of Industry and Internal Trade (DPIIT) has sought views of 16 departments and ministries on its draft national retail trade policy, which is aimed at overall development of all formats of the sector, an official said. After getting comments of all the departments and ministries, DPIIT would seek approval of the Union Cabinet on the policy, the official added. The policy would focus on formulating strategies to provide a globally competitive and sustainable environment for overall development of retail trade through targeted efforts. The objectives of the policy include ensuring easy and quick access to affordable credit, facilitating modernization and digitization of retail trade by promoting modern technology and superior infrastructural support; development of physical infrastructure across the distribution chain; promotion of skill development and to improve labour productivity, and providing an effective consultative and grievance redressal mechanism

Work out strategies to draw global manufacturers to India: FM to industry

Finance Minister Nirmala Sitharaman on Friday asked Indian industry to work out strategies as to how businesses operating in developed countries can look at India as a production or sourcing hub amid recession fears in the western countries. India has brought in a lot of facilitation and tweaking of rules to attract foreign investment into India and is also engaging with industries who want to co-locate in the country, the minister said. "As much you are preparing yourself for a long-drawn recession in the Western world, in the Developed world, I think it is also the best time for you to work out strategies for drawing those manufacturers from there to India. "Even as they are headquartered there, it might be useful for them to think of sourcing many things from here and producing from here at least for markets in this part of the globe," Sitharaman said at an event here. She said the suspected long-drawn recession, which is likely to affect Europe, is not just going to affect expo

Sonear Industries to set up 2 units in Haryana, UP for about Rs 150 cr

Company that provides interior design solutions entering laminated boards business

Global freight rates down 30% YoY; steel, auto, and pharma to benefit

However, average container prices are still 2-3 times higher compared to pre-pandemic levels

NFRA aligning to global standards but industry awaits more clarity

Experts want the authority to set some limit on the time it would spend on on-site visits

Credit to industry up 12.6% YoY in September; touches 100-month high

Apart from base effect, credit to industry got a big boost from MSMEs; among sectors, petroleum, gems & jewellery, engineering, iron & steel, and construction were key drivers

Jamshed Irani: Architect of post-lib Indian industry and 'New Tata Steel'

Irani transformed Tata Steel totally to make it the world's lowest-cost steel producer by 2001, completely revamped technology and used his phrase "Customer Har Haal Me" to augment user delight

PM Modi pitches for promotion of indigenous products, self-reliance

Prime Minister Narendra Modi on Wednesday emphasised on promoting indigenous products and self-reliance for prosperity, and said by adopting them, one can keep the art, culture and civilization of India alive. Addressing a gathering to mark the 150th birth anniversary of Jain saint Vijay Vallabh Surishwar via video conference, he said the message of 'swadeshi' and self-reliance is extremely relevant in the "Azadi ka Amrit Kaal", a reference to the period till 2047, for India to become a developed country. A commemorative postage stamp and coin dedicated to the saint was also released on Wednesday. Paying tributes to the saint, Modi said when the world is experiencing the crisis of war, terror and violence and is looking for inspiration to break out of this vicious circle, ancient traditions and philosophy coupled with the power of today's India is turning out to be a big hope. He said the path shown by Surishwar and the teachings of Jain gurus is the solution to these global ...

Indian industry ready to catch momentum of country's growth: Ficci official

The Indian industry is ready to catch the momentum of the country's growth story and be a part of its march to 2047 to become a developed nation, a top industrialist has said. In an interview to PTI, Subhrakant Panda, senior vice president of the Federation of Indian Chambers and Commerce and Industries (FICCI) said India has emerged as a bright spot in the world economy. There is no doubt that the Indian economy would easily surpass the goal of USD 5 trillion and then USD 10 trillion GDP, Panda told PTI, asserting that experts and economist are now talking about the country becoming a USD 30 trillion or USD 35 trillion economy. There are many assumptions and factors which go into deriving those numbers, but I think what is very clear is the direction of growth and the sustained reforms, which are going to take us in that direction of growth, he said. From an Indian industry perspective, are we ready for it? Yes, I think we are. Because this is a huge opportunity which awaits us. I