DRDO approves 7 new projects to boost India's defence production
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
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
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
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
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
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
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
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
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.
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
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.
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
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
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
New Delhi/IBNS: The Union Cabinet Wednesday cleared the Rs 76000 crore incentive scheme for semiconductors.