Manufacturing Financial News

In Pimpri near Pune, when Tata Motors set the ball rolling to set up a pioneering all-woman line at its Harrier and Safari SUV plant, prospective employees —and their parents —had concerns about how they would travel and where they would stay. The management realised that for their mission to succeed, an important piece that had to fall in place was an assurance that the female workers would have a safe commute and accommodation. Says Sitaram Kandi, chief human resources officer, Tata Motors: “Where they would stay became our biggest concern since we didn’t have hostels. We shortlisted hostels near the plant and each one was visited by three different teams at different times of the day so that we could give the girls and their parents confidence.” After a tough initial phase, Tata Motors was able to increase the share of women on the shopfloor from 4% to 12%. “When you think of women’s employment, three big infrastructural barriers end up being the lack of safety, mobility and childcare,” says Pooja Goyal, founding CEO of Udaiti Foundation, which focuses on women’s economic empowerment. “For women to go out of the house to work, the benefit needs to be significantly more than what it is for a man since they are the ones doing the caregiving.”

TVS Electronics, an electronic products and warranty solutions company, has seen a robust rally in the last 10 years, rising as much as 1,065%. Accordingly, if an investor had pumped Rs 10,000 into the stock four years ago and stayed put, the investment would have jumped to 1 lakh, according to an analysis by ET Markets.

“The time has come for policy to adjust,” Fed Chair Jerome Powell told an annual gathering of global policymakers and economists in Jackson Hole, Wyoming, all but committing the US central bank to lowering rates when officials meet in September.

Ukraine on Friday inked four agreements and resolved to enhance their cooperation in a range of key areas including defence, trade, pharmaceuticals, green energy and education with Prime Minister Narendra Modi and Ukrainian President Volodymyr Zelenskyy reaffirming commitment to further develop the bilateral ties. In their wide-ranging talks, the two leaders also expressed mutual interest in working towards elevating the ties from a comprehensive partnership to a strategic one. Underlining the importance of defence cooperation, Modi and Zelenskyy agreed to work towards facilitating a stronger relationship in the sector including through joint collaborations and partnerships for manufacturing of military hardware in India. Modi arrived in Kyiv this morning on a special train on the first-ever visit to Ukraine by an Indian prime minister after it became independent in 1991.

India's cooling appetite for hatchbacks and sedans is proving to be a double-edged sword for Hyundai Motor India Ltd, as the country's second-largest passenger vehicles maker draws closer to an initial public offering (IPO). After two years of blazing growth, passenger vehicle wholesales in July fell 2.5% from a year earlier, and manufacturers have been offering discounts since May to clear stocks. While falling demand has reduced pressure on Hyundai's stretched production capacity, it has also depressed its expected valuation to $16-20 billion from $25-30 billion earlier, two people aware of the IPO discussions said.

urban consumption, softer manufacturing sector growth and moderate government expenditure amid elections may have dragged down growth in the first quarter of FY25. India's economy likely grew by a median 6.85% in the April-June period from a year earlier, according to an ET poll of 14 economists, slipping from 7.8% in the last quarter of FY24 and 8.2% in the year before. The growth estimates ranged from 6% to 7.5%. The median figure is lower than the RBI forecast of 7.1% for the quarter. «Slowing of manufacturing activity and lower government expenditure during the election period likely contributed to the slowdown in output growth in the quarter,» said Shreya Sodhani, regional economist, Barclays, pencilling in 7.1% gross domestic product (GDP) growth in the June quarter. The government will release June quarter growth data on August 30. The general elections held in the April-June period impacted government spending.

Reliance Industries' pace of investment in its new energy business seems slow, with cumulative investment at $2 billion so far against a plan of investing $10 billion in the first three years, Kotak Institutional Equities said in a report on Friday. Since it is a new foray and initial learnings need to be made, the pace of capital expenditure (capex) will gradually rise, the report added. Reliance forayed into new energy business in June 2021 with the launch of wholly-owned subsidiary Reliance New Energy (RNEL). During FY24, RIL invested ₹8,000 crore in solar energy through RNEL. Out of this, ₹6,900 crore went into Reliance New Solar Energy (RNESL) which «will commence the first train of module and cell manufacturing in FY25,» Kotak said.

India and the US have signed a new agreement that will prioritise supply of defence equipment and components to each other to meet urgent national security requirements, even as defence minister Rajnath Singh described the partnership as a «formidable force» for global peace and security. Singh held a meeting with US Secretary of Defense Lloyd Austin in Pentagon, Washington DC, and the two had wide-ranging discussions on bilateral defence cooperation, industrial collaboration, regional security and other international issues.

A growing number of men and women in Canada’s working-age population are getting unemployment benefits, recent data shows.

mutual funds have filed draft documents with Sebi in the last one week to launch eight new funds. Axis Mutual Fund has filed draft for two funds, WhiteOak Capital Mutual Fund, Groww Mutual Fund, ICICI Prudential Mutual Fund, Edelweiss Mutual Fund, LIC Mutual Fund, and 360 One Mutual Fund have filed for one fund each.

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pharmacy of the world," its pharmaceutical giants are not just keeping pace—they're setting the pace. With the industry projected to leap from a value of $40 billion in 2021 to $130 billion by 2030, the stage is set for unprecedented growth. But as these companies scale new heights, they must also navigate a complex landscape of regulatory hurdles, global competition, and supply chain risks.

NEW DELHI : Danish drug manufacturer Novo Nordisk plans to scale up its operations in India by expanding its collaborations with its existing partners, said John Dawber, corporate vice-president and managing director for Global Business Services (GBS) at Novo Nordisk. Despite facing a significant shortage of its famous and in-demand diabetes and weight-loss drugs globally, collaborations, Dawber told Mint, will be the extent of Novo’s operations in India as it already has “strategic production sites across the globe for manufacturing". “The Indian set-up is the crown jewel of Novo Nordisk.

The South Carolina Senate has started its homework assignment of coming up with a comprehensive bill to guide energy policy in a rapidly growing state and amid a quickly changing power-generation world

Nagaland government has hinted at Partial Lifting of Liquor Prohibition Law. State cabinet meeting on Thursday hinted at partial lifting of the Nagaland Liquor Total Prohibition Act, 1989 and the matter is likely to be discussed during the Nagaland Monsoon Assembly session. Nagaland is a Christianity dominated state. Spokesperson of the Nagaland Government and Minister for Power & Parliamentary Affairs, K.G. Kenye said, “The government is likely to revisit the issue. And depending on the majority of the members the government might bring up this case in the state assembly for some amendments.”

Canada’s two largest railroads should soon start rolling their trains again after the government intervened to end a shutdown that arose from a labor dispute

U.S. stocks closed lower as Wall Street counted down to its main event for the week, a speech by Federal Reserve Chair Jerome Powell coming up on Friday

Japan's Nikkei share average rose in early trade on Friday, with pharma shares rallying for a second session, although gains were limited as tech stocks followed their U.S. peers lower. Japanese exporter-heavy equity markets also got some broad support from a weaker yen versus the dollar. However, the outlook for the currency pair looks murky, with investors watching Bank of Japan Governor Kazuo Ueda's testimony in parliament after last month's surprise rate hike.

An explosion triggered a fire at a pharmaceutical plant in southern India, killing at least 18 workers

A crash and large fire along a California freeway involving an electric Tesla Semi has drawn the attention of federal safety investigators

₹778 crore, solely for electric two- and three-wheelers, with an initial run-time of four months, which was later extended till September. For OEMs, this impending tightening could trigger a significant shift in their operational strategies. The PMP is crucial because only manufacturers that comply with its criteria are eligible for government incentives under schemes like FAME and the EMPS.