Industrial Production

12 industrial smart cities - A vital cog in India's development journey

The strategic initiative envisages investments upwards of Rs 28,600 crore to develop greenfield smart cities of global standards and create a network of industrial nodes across the country

Mospi sets up 26-member committee to decide new base year for GDP

The Advisory Committee on National Accounts Statistics to review data sources, align GDP with inflation and industrial indices

Samsung Electronics' union set to stage 1st walkout over pay in South Korea

The National Samsung Electronics Union (NSEU), which has about 28,000 members, or more than a fifth of the company's total workforce, has said it will stop work for a day as part of broader protest me

IIP growth slows marginally to 4.9% in March; grows 5.8% in FY24

India's industrial production grew 4.9 per cent in March this year, according to official data released on Friday. The factory output measured in terms of the Index of Industrial Production (IIP) witnessed a growth of 1.9 per cent in March 2023. India's Index of Industrial Production grew by 4.9 per cent in March 2024, an official statement said. The data released by the National Statistical Office (NSO) showed that the manufacturing sector's output grew 5.2 per cent in March 2024 against 1.5 per cent in the year-ago month. In March this year, mining production rose 1.2 per cent, and power output increased 8.6 per cent. The IIP grew 5.8 per cent during fiscal year 2023-24 compared to a 5.2 per cent expansion in the preceding fiscal.

Infrastructure output in March rises 5.2%, cement production up 10.6%

Infrastructure output, which accounts for 40% of industrial production, measures activity in eight sectors, including refinery products and electricity

US industrial production rises for second month on boost from manufacturing

Manufacturing, which accounts for three-fourths of total industrial production, is showing signs of turning a corner after more than a year of sluggish activity, helped by resilient consumer demand

China's industrial profits rise 10% showing signs of stabilising economy

Profits at China's industrial firms jumped 10.2 per cent in the first two months from the same period last year, following a 2.3 per cent profit decline for the whole of 2023

PV or CV at TN plant? Tata Motors will take a call based on market trend

Tata Motors and the Tamil Nadu government signed a memorandum of understanding on Wednesday to set up a manufacturing unit in Ranipet near Vellore with an investment of Rs 9,000 crore

CPCB directs producers to procure EPR certificates for tyre disposal

The Central Pollution Control Board has asked all producers to fulfil their assigned EPR obligations for fiscal years 2023 and 2024

Inflation, industrial production data to drive market trends: Analysts

Stock markets would take cues from the upcoming macroeconomic data announcements and global trends besides keeping a watch on the trading activity of foreign investors, analysts said. The last batch of the ongoing earnings calendar would trigger stock-specific action, traders said. "This week, we have to deal with macroeconomic data on both the domestic and global front. Our IIP and retail inflation numbers will be released on February 12, while WPI will be released on February 14. The US CPI numbers will be released on February 13, while their retail sales numbers will be announced on February 15. "Amid these numbers, the movement in US bond yields and the dollar index will be watched. Apart from this, movement of crude oil and flows from institutional investors will be other important factors. The last batch of Q3 earnings can lead to stock-specific movements," said Santosh Meena, Head of Research, Swastika Investmart Ltd. NHPC, SAIL, BHEL, Hindustan Copper, Mahindra & Mahindra,

Flying high: Phone exports near FY23's tally in just 9 months of FY24

iPhones have contributed $7 bn to India's total $10.5 bn exports

Gujarat industrial policy aims to make state global biz hub: Stakeholders

The Gujarat government's industrial policy, launched in August 2020 with an aim to provide Rs 40,000 crore in subsidies to industries over five years, is a reflection of its commitment to make the state a global business destination, stakeholders have said. The policy, valid for a period of five years since its launch, promises an average annual outlay of Rs 8,000 crore, indicating substantial support for industries, they said ahead of the 10th edition of the Vibrant Gujarat Global Summit to be held from January 10-12, 2024, in Gandhinagar. The summit is a forum for business networking, knowledge sharing and strategic partnerships for inclusive growth and sustainable development. The state's industrial policy has been well on target to achieve its mission to promote entrepreneurship and innovation by inclusive and balanced regional development, world-class infrastructure, and initiatives aimed at easing the business environment and export competitiveness. This is a reflection of th

Cabinet approves industrial property rights MoU between India, Italy

The Union Cabinet approved a Memorandum of Understanding (MoU) between India and Italy for cooperation in the field of industrial property Rights.The cabinet chaired by Prime Minister Narendra Modi on Friday gave its approval for the signing of the MoU between the "Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry of India and the Directorate General for the Protection of Industrial Property-Italian Patent and Trademark Office of the Ministry of Enterprises and Made in Italy of the Italian Republic," an official release said.Moreover, the MoU will promote the establishment of a mechanism that will allow India and Italy to develop cooperation activities in the field of Industrial Property (IP) and information technology services related to this field."The purpose of the MoU is to support enterprises, especially start-ups and SMEs, in accessing and participating in the national and international IPR systems," the release stated.Manish Desai, .

Focus on design, IP creation key to India's rise as product nation: IT secy

Focus on design and creation of IP is crucial to India's ambitions as a product nation, IT Secretary S Krishnan on Thursday said, exhorting electronics products designers in the country to prioritise aspects such as inclusivity, aesthetics, and user experience in designing products for wider audiences. Design elements add substantial value to products, particularly in the electronics and digital space, Krishnan said while addressing the '23rd India Design Summit and Awards' organised by CII and World Design Organisation. Citing an example of just how important design elements are in the digital era, he said in case of a USD 1,000 iPhone, about USD 250 is paid to vendors while a substantial amount is retained by the designers in Cupertino. Referring to the Apple manufacturing ecosystem in India, he said, "Today, we are aiming that about 20-25 per cent at least of Apple iPhones are made in India at some point or the other, and if you look at the value addition which takes place in ...

India's industrial production growth decelerates to 5.8% in September

The factory output growth measured in terms of the Index of Industrial Production (IIP) had grown by 3.3 per cent in September 2022

India Inc's capital expenditure to get lift from high capacity usage

The first quarter of the current financial year has shown improved profitability, driven by a decrease in input prices

Uttar Pradesh govt set to launch industrial projects worth Rs 10 trn by Dec

UP industrial development minister Nand Gopal Gupta 'Nandi' recently reprimanded officials for their failure to achieve the GBC target of Rs 90,000 crore set for Noida

Odisha approves nine new industrial projects to generate 2,500 jobs

The Odisha government on Monday approved nine new projects worth investment of Rs 873 crore which will create employment opportunities for 2,500 people in the state, an official said. The approval was made at the State Level Single Window Clearance Authority (SLSWCA) meeting chaired by chief secretary PK Jena. Petronet LNG Limited's compressed biogas and fermented organic manure plant will be set up with an annual capacity of 33,065 M in Deogarh district, the official said. Pearl Precision Products Private Limited also received the approval for a cutting-edge plastic faucet, water tank, pipes, and fittings manufacturing unit at Paradeep Plastic Park in Jagatsinghpur district. Indopet Polyplast Private Limited has received the nod to establish a high-capacity manufacturing unit for food-grade pet bottles, jars and pre-forms, with an annual capacity of 8,000 MT in Khurda district, the official said. The state government also approved TRL Krosaki Refractories Limited's proposal. The

Lower temperatures likely to have cooled down IIP in March, April

The fall in electricity output comes on the back of unseasonal and prolonged rain in March and April. The downpour led to a fall in temperatures, thus substantially lowering household demand

Output of eight core industries jumps 6% in February, dip in crude oil

At 22.2 per cent year-on-year (YoY), the sharpest jump was noted in fertiliser production