Page 2 - Manufacturing

Manufacturing of electronics to double to $200 bn in 3-4 years: Vaishnaw

The scheme to set up outsourced assembly and testing units has been allocated Rs 3,900 crore in the Budget for 2025-26, compared to Rs 2,500 crore allocated last fiscal

Committee under manufacturing mission to look into issues in detail: Goyal

A committee will be set up under the national manufacturing mission to get into the details on issues like cutting cost of doing business; preparing future-ready workforce; and availability of technology to further promote Make in India initiative, Commerce and Industry Minister Piyush Goyal has said. Representatives from the Centre, states, and private sector are expected to be there in the committee. It would identify key focus areas, which are futuristic and where there is demand both in the domestic and foreign markets, and come up with recommendations on "what we should do". "A committee will be set up under the mission which will go into the details and examine all the issues in detail (like) the role of Centre, and states. Different ministries will be involved, private players will also be involved and they will inform about sectors which have huge competitive advantages in India and which have export potential," Goyal told PTI. Finance Minister Nirmala Sitharaman has announ

Govt to set up National Manufacturing Mission to promote Make in India

The government on Saturday announced to set up a National Manufacturing Mission to further promote Make in India initiative. The Mission's mandate will include five focus areas ease and cost of doing business; future ready workforce for in-demand jobs; a vibrant and dynamic MSME sector; availability of technology; and quality products. The scheme will cover small, medium and large industries, Finance Minister Nirmala Sitharaman said in her Budget speech. The National Manufacturing Mission, she said, will provide policy support, governance and monitoring framework for central ministries and states. "Our government will set up a National Manufacturing Mission covering small, medium and large industries for furthering Make in India," she said. She said that support will be provided to develop domestic manufacturing capacities for our economy's integration with global supply chains. Sectors will be identified based on objective criteria. "Facilitation groups with participation of se

Epack Durable Q3FY25 results: Net profit declines 49% to Rs 2.5 cr

EPACK Durable, an original equipment manufacturer & original design manufacturer for air conditioners and home appliances, on Friday reported a decline of 48.86 per cent in its consolidated net profit to Rs 2.5 crore in the December 2024 quarter. The company had posted a consolidated profit of Rs 4.89 crore in the October-December quarter a year ago, according to a regulatory filing by EPACK Durable. Its revenue from operations climbed 35 per cent to Rs 376.83 crore in the December quarter. The same stood at Rs 279.05 crore a year ago. Total expenses of EPACK Durable in the December quarter grew 37.73 per cent to Rs 377.28 crore. Its total income, which includes other income, was Rs 381.70 crore in the December quarter, up 35.8 per cent. Shares of EPACK Durable Ltd settled 4.99 per cent higher at Rs 465 apiece on the BSE.

In a bid to revamp ITIs, skill ministry de-affiliates 449,000 seats

In an order dated January 17, the directorate general of training (DGT) - apex organization under the MSDE to develop vocational training programs de- affiliated 449,000 seats in a total of 5,848 ITIs

Unincorporated manufacturing jobs stay below 2010-11 level, shows NSO data

Data showed that the manufacturing sector employed nearly 33.7 million workers in 2023-24, compared to 34.9 million workers in 2010-11

Samsung to manufacture Galaxy S25 series at Noida plant: CEO JB Park

The Galaxy S25 series, comprising the Galaxy S25 Ultra, Galaxy S25+, and Galaxy S25, benefits significantly from contributions by Samsung's R&D centre in Bengaluru, said JB Park

Smartphones emerge as second-largest export category, shows govt data

Apple Inc, through its iPhones, accounted for two-thirds of India's smartphone exports during the period under review, underscoring the impact of the production-linked incentive (PLI) scheme

Blue Energy to invest Rs 3,500 cr to set up Maharashtra electric truck unit

LNG-powered truck maker Blue Energy Motors on Wednesday said it plans to invest Rs 3,500-crore for setting up an electric trucks production plant in Maharashtra to fuel the state's green energy transition. Under the terms of an initial pact, announced at the World Economic Forum in Davos, Blue Energy Motors will establish a dedicated facility for advanced electric (EV) trucks that will house advanced R&D capabilities, battery-pack line, motor manufacturing unit and set up charging stations as well, the company said. The proposed projects are slated to commence in the next financial year, Blue Energy Motors said. This investment, according to the company, is expected to generate direct employment for over 4,000 people. "Our investment will not only reaffirm Maharashtra's position as a global hub for advanced clean mobility solutions but also will contribute to job creation and economic growth," said Anirudh Bhuwalka, CEO of Blue Energy Motors. The new inter-connected facility will

FMCG major Unilever to establish two manufacturing units in Telangana

FMCG major Unilever on Tuesday agreed to establish two manufacturing units in Telangana following talks between Chief Minister A Revanth Reddy and Hein Schumacher, CEO of Unilever, at the ongoing World Economic Forum (WEF) annual meeting in Davos. During the meeting, the Chief Minister highlighted Telangana's "extraordinary locational advantages" as a gateway and bridge to several southern states and other parts of the country, a state government release said. While Unilever operates multiple manufacturing sites in India, its presence in Telangana has thus far been minimal, the release added. In response, Unilever's CEO announced plans to establish a palm oil facility and refining unit in Telangana. CM Revanth Reddy offered full support and proposed a suitable location in Kamareddy district for the facility, the release added. The Unilever team also agreed to set up a new manufacturing unit for producing bottle caps. "In a breakthrough, Chief Minister Revanth Reddy convinced Hein

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