Page 2 - Industrial Growth

Karnataka clears 55 industrial projects worth Rs 3,451.24 cr investment

Karnataka Industries and Commerce Department on Tuesday said it has cleared a total of 55 investment proposals worth Rs 3,451.24 crore, promising 33,049 employment opportunities. The 139th State Level Single Window Clearance Committee (SLSWCC) meeting was held under the chairmanship of Minister for Large and Medium Scale Industries Murugesh R Nirani on Monday to decide on investment clearances. The committee considered and approved eight "important large and medium size industrial projects" with investments of more than Rs 50 crore. These projects are worth Rs 2,012.14 crore and are expected to create employment opportunities for 22,033 people in the State, an official release said. At the SLSWCC meeting, 43 new projects with investments of more than Rs 15 crore and less than Rs 50 crore were also cleared. These projects are worth Rs 1,187.93 crore and would generate jobs for 11,016 people in Karnataka. Four projects of additional investment have also been approved which will res

Tamil Nadu Cabinet gives nod to industrial projects worth Rs 15,610 crore

The Tamil Nadu Cabinet on Wednesday approved industrial projects to the tune of Rs 15,610.43 crore, said Industries Minister Thangam Thenarasu on Wednesday. The projects involved electric vehicle-manufacturing, cell-manufacturing plant, automobile, wireless technology, oxygen plant, and textiles, said the Minister. "The projects are spread across the State and will come up in the districts of Krishnagiri, Theni, Pudukottai, and in suburban Chennai," he told reporters here. The State, he said, had obtained substantial investments for numerous projects down South and is likely to obtain more. "There's fair chance for investment in industrial units when the spaceport project comes up in Kulasekharapatnam (Thoothukudi district). Also, the industrial parks at Sriperumbudur and Oragadam, near Chennai, are likely to get further investment once the proposed greenfield international airport project takes off in Parandur," he said. As many as 8,726 people would be provided jobs through the .

Karnataka govt to set up 'star category industrial area' in Belagavi

Karnataka Industries Minister Murugesh Nirani on Friday assured setting up of a 'star category industrial area' in Belagavi, as a BJP MLA from this border district expressed concerns about no mega industry coming here in recent times, and investments flowing into neighbouring Maharashtra, thanks to facilities there. Lamenting that such a questions arise in their mind whether Belagavi is in Karnataka with no push for industrialisation here by the government, Belagavi South MLA Abhay Patil, raising the issue during the question hour, said mere passing of resolutions and speeches asserting that the district belongs to the state, won't help. Pointing out that at the Global Investors' Summit held recently an estimated Rs 9.81 lakh crore worth MoUs were signed which has potential to create an estimated six lakh jobs, Nirani said, the "speciality" this time is only plus or minus 10 per cent of the investment will happen in Bengaluru, as we are not giving any incentive or subsidy for ...

India has potential to lead fourth industrial revolution: PM Narendra Modi

Prime Minister Narendra Modi on Friday said India has the potential to lead the fourth industrial revolution and the government has worked on reforms to make the country a manufacturing hub of the world. He said that the fourth industrial revolution is as much about new technology, as it is about innovative thinking. "Due to various factors, India may have missed being a part of earlier industrial revolutions. But India has the potential to lead Industry 4.0, because, for the first time in recent history, we have many different factors like demography, demand and decisive governance coming together," he said through a message. The Prime Minister's message was read by a Joint secretary of the Ministry of Heavy Industries here at the conference on Industry 4.0. Modi added that the industry and entrepreneurs play a key role in making India a vital link in global value chains. "We have worked on reforms and incentives to make India a tech-powered manufacturing hub of the world," he ..

Mann to visit Germany from Sep 11-18 to push Punjab's industrial growth

Punjab Chief Minister Bhagwant Mann will visit Germany from September 11-18 to attract investments and strategic tie-ups. This will be Mann's first foreign visit after he took oath as the chief minister in March. "In order to give a major push to the industrial growth of the state, Punjab Chief Minister Bhagwant Mann will be undertaking a tour of Germany from September 11-18," an official statement said here on Friday evening. During the tour, the chief minister will be meeting business delegations and prominent companies to rope in investments and strategic tie-ups in key sectors like renewable energy, car manufacturing, pharmaceuticals and advanced agriculture practices, among others, it said. Mann will hold a meeting with companies like BMW, BayWa and others during his stay in Munich, Frankfort and Berlin. "This crucial visit of the Chief Minister is likely to immensely benefit the state in getting huge investments, technical know-how and expertise from German companies," said

Urbanisation's different strokes

The waves of urbanisation have been uneven around the world and are intrinsically tied to the level of development and industrialisation in a country

Agnipath has job potential in corporate sector for youths: Industry leaders

Mahindra Group Chairman Anand Mahindra, RPG Enterprises Chairman Harsh Goenka and Biocon Ltd Chairperson Kiran Mazumdar-Shaw came out in support of Agnipath, saying it has potential for employment

A robust industrial recovery

Employment among industrial workers increased further by about a million in the January-April 2022 Wave

AAP govt to give big push to industry in Punjab: FM Harpal Singh Cheema

He said the AAP govt led by CM Bhagwant Mann would sympathetically listen to all the issues pertaining to industry as well as taking requisite steps to resolve all such issues within a minimal time

India's industrial sector grows, manufacturers continue to struggle

Their revenue share in listed space declined to record low of 27.2% in Q1FY22

Scheme for industrial development to make J-K self-reliant: Goyal

The central sector scheme for industrial development of Jammu and Kashmir will help in making the union territory self-reliant and push growth, union Minister Piyush Goyal said

China's industrial profit growth slows in June on high raw material prices

Industrial firms' profits rose 20% year-on-year in June to 791.8 billion yuan ($122.27 billion), data from the National Bureau of Statistics showed on Tuesday, after a 36.4% increase in May.

Retail inflation for industrial workers rises marginally to 5.24 pc in May

Retail inflation for industrial workers rose marginally to 5.24 per cent in May 2021 from 5.14 per cent in April mainly due to increase in prices of certain food items and petroleum products, as well as higher mobile phone charges. "Year-on-year inflation for the month (of May) stood at 5.24 per cent compared to 5.14 per cent for the previous month (April 2021) and 5.10 per cent during the corresponding month (May 2020) a year before," a labour ministry statement said. Similarly, it stated that food inflation stood at 5.26 per cent last month against 4.78 per cent in April 2021 and 5.88 per cent in the corresponding month a year ago. The Labour Bureau, an attached office of the Ministry of Labour & Employment, has been compiling the Consumer Price Index for Industrial Workers (CPI-IW) every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centres in the country. The index is compiled for 88 centres and All-India and is released ..

China's industrial profits growth slows in April amid high commodity prices

Profits at China's industrial firms rose 57% year-on-year in April to 768.63 billion yuan ($120.22 billion), down from 92.3% in March, data from the National Bureau of Statistics (NBS) showed

82% MoUs with investors turned into actual projects past 10 years: TN govt

Refutes reports that only 9.4% of investment proposals in the state were converted to projects during that time

China's industrial profits grow at a slower pace in November, shows data

It said there is effective market stimulus and stable improvement in both supply and demand.

Chowgule's Angre Port plans to host industrial units for assured cargo

The agri-based port of Angre is a riverine port that currently exports sugar and molasses to the tune of 0.5 million tonne annually

IIP grows 0.2% in Sept, enters positive territory after 6-month contraction

The index of industrial production (IIP) grew by 0.2 per cent in September on a year on year basis compared to a 7.36 per cent contraction posted in August

Govt to bring out strategy paper on boosting industrial growth: Goyal

The government is in the process of bringing out a strategy paper on boosting industrial growth which will be a road map for all businesses in the country, Parliament was informed on Wednesday

Rebooting industry: 88% industrial units now operational in Uttar Pradesh

More than 70% or 583,000 units have plant load factor of 80-100%