India's Industrial output hits six-month high with 5.2% growth in Nov
Jan 10, 2025, at 08:16 pm
New Delhi: India's industrial output, determined by the Index of Industrial Production (IIP), touched a six-month peak, recording a growth of 5.2% in November 2024, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Friday.
Boeing resumes 737 MAX production after strike, targets recovery amid challenges
Dec 10, 2024, at 09:57 pm
Boeing has restarted production of its 737 MAX jetliner, its top-selling aircraft, after a seven-week strike by 33,000 factory workers, Reuters reported, citing sources familiar with the matter.
South Korean carmaker Hyundai collaborates with three IITs for batteries & electrification R&D
Dec 04, 2024, at 02:01 am
New Delhi: Hyundai Motor Group announced collaborations with three Indian Institutes of Technology (IITs) on Tuesday to develop a research framework focused on batteries and electrification.
India planning to expand EV incentive program to encourage new and existing manufacturers
Nov 29, 2024, at 10:55 pm
New Delhi: India is planning to broaden its electric vehicle (EV) incentive program to include automakers producing EVs at existing factories, rather than restricting the benefits to those building new plants, Reuters reported, citing a source familiar with the matter.
India plans $5 billion incentive scheme to boost local electronics manufacturing
Nov 23, 2024, at 05:04 am
New Delhi: India is set to introduce an incentive program worth up to $5 billion to encourage domestic manufacturing of components for gadgets such as mobile phones and laptops, media reports said.
Ford to cut 4,000 European jobs, cites weak EV demand and competition
Nov 21, 2024, at 04:37 am
Berlin: Ford announced plans to cut around 14% of its European workforce, equating to 4,000 jobs, citing weak electric vehicle (EV) demand, limited government support, and competition from subsidized Chinese automakers, media reports said.
India's automobile industry registers robust growth in October 2024: SIAM report
Nov 14, 2024, at 02:21 am
New Delhi: India’s automotive sector demonstrated resilient growth in October 2024, with total vehicle production reaching 28.83 lakh units, a 9.9% increase from the previous year, according to the latest SIAM report.
India’s industrial output rebounds with 3.1% growth in September, driven by manufacturing
Nov 13, 2024, at 06:08 am
New Delhi: India's industrial output increased by 3.1% in September 2024, primarily due to a recovery in manufacturing activity, according to data from the Ministry of Statistics and Programme Implementation.
Odisha emerges as India's steel hub, contributing 25% of national production
Oct 23, 2024, at 05:16 am
Bhubaneswar: Odisha has emerged as the country's steel manufacturing hub with Odisha accounting for 25% of the India’s total steel production, according to MD and CEO of mjunction services Ltd Vinaya Varma.
India must do more to boost manufacturing and job creation: Raghuram Rajan
Sep 28, 2024, at 12:07 am
Mumbai: India has made significant progress in infrastructure over the past decade, but more needs to be done in other sectors to enhance local manufacturing and job creation, former RBI Governor Raghuram Rajan said on Thursday.
DRDO approves 7 new projects to boost India's defence production
Jul 13, 2024, at 03:18 am
New Delhi: The Defence Research & Development Organisation (DRDO) has made a big move towards bolstering India's self-reliance in the defence sector by approving seven new projects under the Technology Development Fund (TDF) scheme, media reported.
India's manufacturing growth slowest in 3 months due to intense heat wave in May
Jun 03, 2024, at 10:47 pm
New Delhi: India's manufacturing sector experienced a slowdown in May, reaching a three-month low, due to an intense heatwave that disrupted production volumes, resulting in a more moderate increase in new orders and output. Despite this, the sector continued to operate in expansionary territory during May, according to a survey.
India must boost manufacturing to increase share in global value chains: FM Sitharaman
May 18, 2024, at 04:43 am
New Delhi: India should intensify manufacturing activities to increase its share in global value chains and attain self-reliance aided by government policies, Finance Minister Nirmala Sitharaman said on Friday.
India's defence sector holds prospect of USD 138 billion from FY24 to FY32
May 13, 2024, at 05:30 am
New Delhi: Amid increasing demand for defence equipment, technologies, and services, India's defence sector holds a substantial ordering prospect of nearly USD 138 billion from FY24 to FY32 for companies involved in defence production and technology advancement, according to a report titled 'India Defence' by Nomura.
RBI launches survey of manufacturing companies
Apr 10, 2024, at 08:28 am
Mumbai: The Reserve Bank has started the latest cycle of its quarterly survey on order books, inventories, and capacity utilization of manufacturing firms, which serves as a crucial component for shaping monetary policy.
Manufacturing will be India's focus in next 5 yrs: Ashwini Vaishnaw
Mar 08, 2024, at 12:53 am
New Delhi: Manufacturing will be India’s focus in the next five years owing to huge employment potential, IT Minister Ashwini Vaishnaw said on Thursday.
Titagarh Rail Systems Q3FY24 PAT grows 91% YoY to Rs 75.03 cr
Feb 07, 2024, at 05:38 am
Kolkata: Titagarh Rail Systems Ltd, formerly known as Titagarh Wagons Ltd, reported a standalone net profit of Rs 75.03 crores in the quarter ending December 31, 2023, an increase of 91% over Rs 39.22 crore in the same period of the last financial year.
PLI Schemes witness over Rs 1.03 lakh crore of investment till Nov 2023
Jan 18, 2024, at 08:27 am
New Delhi: Production Linked Incentive (PLI) Schemes witnessed over Rs. 1.03 lakh crore of investment till November 2023, leading to production/ sales of Rs. 8.61 lakh crore and direct and indirect employment generation of over 6.78 lakhs, according to the Commerce and Industry ministry.
India's factory output grows 5.7 pc in July, exceeds ICRA expectation
Sep 13, 2023, at 01:58 am
New Delhi: India’s factory or industrial output grew 5.7% year-on-year (YoY) in July 2023 riding on the mining and electricity sectors.
Jun 14, 2023, at 04:59 am
New Delhi: The Production Linked Incentive (PLI) Schemes have led to a significant increase in production, employment generation, economic growth and exports in the country, a top government official said.
India's FY23 GDP growth likely to surpass 7%, manufacturing sector to rebound: SBI report
May 27, 2023, at 07:00 am
Despite the global economic slowdown, India is expected to continue its showdown in pursuing a different pathway of zeroing in on drivers of growth, looking for a renewed surge in resilient manufacturing while supporting the services sector to embrace enhanced efficiency, an SBI report said on Friday.
Oct 16, 2022, at 04:57 pm
Government is likely to include seven sectors, including bicycle, leather, toys and container, in the next round of Rs 35,000 crore production-linked incentives (PLI) scheme, media reports said.
Reliance and Sanmina complete transaction for electronic manufacturing JV in Chennai
Oct 06, 2022, at 04:31 am
San Jose, CA / Mumbai: Sanmina Corporation (Sanmina) (NASDAQ: SANM) and Reliance Strategic Business Ventures Limited (RSBVL), a wholly-owned subsidiary of Reliance Industries Limited (RIL), have completed the transaction to jointly create a world-class electronic manufacturing hub in Chennai, a joint company release said.
Govt invites EoI for manufacturing zone for power & RE sector
Apr 15, 2022, at 04:36 pm
New Delhi: In a bid to promote indigenous manufacturing and make India self-reliant, the Ministry of Power has invited expressions of interest for setting up a manufacturing zone on a pilot basis for the power and renewable energy sector with a budgetary allocation of Rs 400 crore over a period of five years.
Union Cabinet gives nod to Rs 76,000-crore incentive scheme for semiconductors
Dec 15, 2021, at 09:32 pm
New Delhi/IBNS: The Union Cabinet Wednesday cleared the Rs 76000 crore incentive scheme for semiconductors.