Manufacturing Financial News

Mint’s Emerging Markets Tracker more consistently. As India grapples with these weaknesses, Vietnam—newly added to the tracker—has emerged as a formidable challenger.Vietnam has claimed the top spot in three of the past four months, marking a strong debut on the tracker.

New Delhi: For the first time, nearly a third of all laptops being sold in India are being shipped with the ‘Made in India’ tag. This rise, which has played out over the past two years, has happened as government incentives have pushed electronics manufacturers to focus on the segment and diversify from mobile-led revenue.In March 2024, less than 5% of all laptops being sold in India were being assembled locally, analysts and industry executives said.

Mint has seen, was also marked to petroleum secretary Neeraj Mittal.According to Singh, the continued stoppage of LPG and liquefied natural gas (LNG) supplies to tower manufacturing units is likely to adversely impact the telecom tower manufacturing supply chain and may lead to delays in ongoing and planned tower rollout activities. “This could consequently affect efforts aimed at strengthening telecom networks and expanding connectivity, particularly in uncovered and capacity-constrained areas,” he said.In an order dated 5 March, the petroleum ministry directed all public-sector OMCs to ensure that LPG procured is supplied and marketed only to consumers of domestic LPG.

Last week, I wrote about how frontier artificial intelligence (AI) has begun to improve exponentially—to the point where it is not just introducing linear improvements in functionality, but literally augmenting capabilities. Personally, this became evident when I realized I could code anything I could imagine, allowing me to create various applications and programs to eliminate micro-frustrations in my workflow. I am sure that those in other domains are experiencing similar capability uplifts.

₹36,800 crore) over the next four years.Once a diversified conglomerate spanning branded textiles, apparel, garmenting, real estate and specialised engineering businesses, Raymond has since restructured its portfolio to unlock shareholder value.The company spun off its textile business, which is now listed separately as Raymond Lifestyle, while consolidating its engineering and aerospace platform under Raymond.Today, the company operates through two segments:• Precision Technology & Auto Components (JK Maini Precision Technology)• Aerospace & Defence (JK Maini Global Aerospace)JK Maini Precision is the largest contributor, generating ₹1,225 crore and accounting for 72% of revenue, while Aerospace & Defence contributes 16%.Against this backdrop, Raymond’s strategy now hinges on how effectively it can capture the emerging opportunity.JK Maini Precision (JKMPTL) is the core growth engine within Raymond’s engineering platform.The segment integrates the company’s Tools & Hardware division, Ring Plus Aqua, and automotive operations. JKMPTL functions as a Tier-1 supplier of mission-critical precision components to both domestic and global original equipment manufacturers (OEMs).The division manufactures over 2,000 auto components, operates across 18+ global customer locations, and serves more than 100 large global clients.JKMPTL holds strong and defensible positions across several legacy product categories.In steel files, it ranks No.1 globally in installed capacity, with a 25% global market share.

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New Delhi: The Centre has issued an order that updates norms for piston rings – a key component of internal combustion engines (ICE) – to help reduce carbon emissions, replacing standards that had been in place since 1977. The new standards came into effect on 10 February, said the order dated 12 February.Experts said the cost impact for most automakers was likely to be limited, as many already follow similar global specifications.

Two of the world’s largest pharmaceutical companies, a chemical manufacturer, and an auto giant have established internal artificial intelligence (AI) teams and opened centres to increase automation across their businesses, as the technology’s rapid pace continues to upend business operations worldwide.Over the last 18 months, Swiss life sciences major Novartis International AG and Texas-based chemical manufacturer Celanese Corporation started AI councils to identify segments that can be automated. Indiana-based Eli Lilly and Co.

NEW DELHI: The Centre’s second e-bus tender under the ₹10,900 crore PM E-Drive scheme, for 2,900 e-buses in Ahmedabad, Hyderabad, Pune, and Mumbai, and 3,330 buses in Delhi has been deferred by one month.The tender for 6,230 e-buses opened for manufacturers and operators on 9 January this year, and was scheduled to close on 10 March. But a 6 March notification by Convergence Energy Services Ltd (CESL), the government’s demand aggregation agency, showed the closing date was deferred to 9 April.

Over a decade ago, domestic projects had dominated L&T’s business, but the picture is different now. As on 31 December, 49% of its ₹7.33 trillion order book came from international markets, and India contributed the rest.

Mint.Saraswat also said that specific features and the incentive structure under the second phase of the India Semiconductor Mission announced in Union budget 2026 are being worked out.Finance minister Nirmala Sitharaman announced the second phase of the mission in her budget speech in February to scale up the country’s capabilities in equipment, materials, design, intellectual property rights and to fortify the supply chain. In the budget for 2026-27, the Centre announced a second tranche of incentives under the mission, five years after rolling out the first ₹76,000-crore programme.India will also strive to explore and produce select critical minerals found domestically despite their low resource intensity making them costlier to extract, to guard against the risk of supply denial by other countries in future, Saraswat said.India’s push to build domestic capabilities in semiconductors and critical minerals, which are vital for IT, clean energy and defence sectors, comes at a time technology is increasingly shaping industrial and military power in a de-globalising world with weakening adherence to the rule of law.

Buffett stepped down as its CEO after 60 years in the role. He announced the decision at the company's annual shareholder meeting in May, citing the physical effects of ageing.Buffett had taken control of Berkshire in 1965, when it was a struggling textile manufacturer. Alongside his partner Charlie Munger, who passed away in 2023, he built it into a sprawling conglomerate with holdings spanning insurance, railroads, energy, utilities, manufacturing, and consumer goods.

₹5,065 crore, up 60% year-on-year, according to an earnings statement from Reliance Industries.India’s FMCG sector remains dominated by established players such as Hindustan Unilever Ltd, which reported revenue of about ₹64,138 crore in FY25—highlighting the scale of the opportunity Reliance is targeting as it builds its consumer business.“What Reliance is doing is cobbling together a portfolio of brands that already have some momentum,” said Arvind Singhal, chairman of The Knowledge Company, a Gurgaon-based management consulting firm.Mint explains the strategy behind Reliance’s push to acquire regional brands and how it differs from rivals.Over the past few years, Reliance Consumer Products Ltd (RCPL) has assembled a portfolio of regional brands across food, beverages and personal care.One of its latest additions is Chennai-based Southern Health Foods Pvt. Ltd, which sells millet-based foods, health mixes and baby nutrition products under the Manna brand.

KPIT Technologies. The three companies ended last year with $1.26 billion, $870 million, and $691 million, up 8.16%, 0.81%, and 17.72%, respectively.

From stranded shipping vessels near Strait of Hormuz amid the West Asia conflict, to the change in sectoral share due to revision in GDP base year, manufacturing and services activity moving in different directions in February, collections in goods and services tax (GST) signalling a post-cut recovery, and the government’s renewed push to faster adoption of electric vehicles, here’s a compilation of this week’s news in numbers.The US-Israel-Iran conflict is threatening to put the global order in chaos, particularly for the flow of gas and oil. At its core is the Strait of Hormuz—a narrow chokepoint through which over a quarter of global oil trade passes—where Iran holds strategic control.According to Kpler's analysis of 223 container vessels between 28 February and 4 March, at least 37 were unable to exit the Gulf, meaning they cannot resume rotations until transit reopens.

Mumbai: Umesh Modi Group’s Win-Medicare Pvt Ltd (WMPL), the maker of household brands like Betadine and Movicol, is looking to sell a minority stake in a deal valued between $150 million and $200 million, according to three sources familiar with the matter. The company has appointed EY as its advisor to lead the search for potential buyers, they said.“About $100 million is likely to be secondary, with the parent entity expected to offload a minority stake, while the remaining component would be primary but subject to the company’s expansion plans,” two of the people cited above said on the condition of anonymity.The third person said, “The deal was launched about two months ago and several private equity firms have been tapped as part of the process.

Last week, India’s statistics ministry released its first estimates of gross domestic product (GDP) and other associated national accounts data with 2022-23 as the base year for a new GDP series. This is the second major economic indicator after the consumer price index (CPI) to have seen a base revision. Both these indicators had been using 2011-12 as base year, rendering them more than a decade old.

₹12,195 crore production-linked incentive (PLI) scheme was introduced in February 2021 to encourage the local manufacture of equipment such as network switches, transmission gear and set-top boxes.Out of the scheme's 42 applicants, 19 including Samsung have not claimed or received any incentive, data showed. Only 15% of the scheme's outlay was actually disbursed, even as its five-year run ends this month.Companies which have chosen FY23 as base year will have one year left (FY27) to claim incentives on incremental sales, whereas investments under the scheme were only allowed till FY26 for all the scheme participants.Samsung India Electronics, which applied for the scheme in 2022, chose to withdraw because it found local manufacturing unviable given limited customer demand for its telecom gear, an industry expert said.

₹345.47 trillion ($3.93 trillion)—3.26% lower than the ₹357.14 trillion estimate published in January under the 2011-12 series.The downward revision stems from those earlier overestimations. In an interaction with Mint, the statistics ministry confirmed that proxy indicators used in the older series had led to overestimations, validating concerns raised by economists, policymakers and researchers for nearly a decade.But the shrinkage is only part of the story.

India’s manufacturing sector is doing better than we thought, as the Union statistics ministry’s revised GDP estimates showed last week. The purchasing managers index (PMI) could have a told-you-so moment, given how it has been showing robust readings now for an extended period. The HSBC India Manufacturing PMI, compiled by S&P Global, rose to a four-month high of 56.9 in February.

New Delhi: India’s top carmakers are seeking alternative sources for lithium-ion cells that go into electric vehicle batteries as they seek to secure supply to counter China’s unpredictable curbs.Mahindra and Mahindra Ltd, the country’s second-largest carmaker, has begun talks with Germany’s Volkswagen Group, which has a lithium-ion cell subsidiary PowerCo, for future supply, the company said at Kotak Institutional Equities’ Annual Investor Conference last week.While Tata Motors Passenger Vehicles Ltd will depend on its group firm Agratas, Hyundai Motor India Ltd has inked a partnership with Exide Industries Ltd to procure locally made cells from the gigafactory under construction in Bengaluru.Lithium-ion batteries account for more than a third of an EV’s cost. Diversifying cell supply is important after China imposed restrictions on the export of rare-earth magnets, another critical component used in building motors.