Manufacturing Financial News

Indian Prime Minister Narendra Modi has vowed to boost social spending, develop infrastructure and make India a global manufacturing hub as companies shift away from China

Official customs data show China’s exports contracted in March after growing in the first two months of the year

«We will achieve energy independence for Bharat by 2047 and reduce petroleum imports through a mix of electric mobility, network of charging stations, renewable energy production and improving energy efficiency, it said. »We will harness Bharat’s renewable energy potential, targeting 500 GW of renewable energy through the establishment of mega solar parks, wind parks and the Green Energy Corridor project among others," it added.

Bharatiya Janata Party in its manifesto promised an array of commitments for the development of railways and other infrastructural-related initiatives if it assumes power after the Lok Sabha polls. Prime Minister Narendra Modi on Sunday released the BJP's Lok Sabha manifesto which has a special focus on the poor, youth, farmers and women, and asserted that the need for a stable government with full majority was necessary when the world was passing through uncertain times.

Mint explains how deep is the job crisis for the vast number of young people who join the labour force every year. India experienced mostly jobless growth in the first 19 years of the current century, a period when India had seen stable governments under three different prime ministers. At the national level, employment grew at an annual rate of 1.6% between 2000 and 2012 and then stagnated with a 0.01% rise till 2019, even as the economy grew at 6-7% on average during those years.

HDFC Bank and Jio Financial will also report their quarterly earnings during the week. Q4 earnings to watchout for this week

manufacturing slump. The nascent industrial recovery is led by the world’s two biggest economies. Chinese manufacturing has made a strong start to the year, boosting the economic outlook, and US factory activity unexpectedly expanded last month for the first time since September 2022, buoyed by rising new orders and a jump in production.

domestic equity benchmarks settled flat last week as investors' hope for a June rate cut were dashed by higher-than-expected inflation in the US, compounded by positive US employment and manufacturing data. Escalating geopolitical tensions in the Middle East, alongside supply concerns, have propelled crude oil prices upward, impacting the overall market sentiment.

ET Now: The deposit growth what we have seen for private banks has been strong. In fact, the advances growth for PSU banks has also been in a very comfortable range. Now, should we expect stellar numbers from banks and finance also? What are you making out of it?

China has not liked Tesla CEO Elon Musk planning to open an electric car factory in India. Musk is set to travel to India later this month and meet Prime Minister Narendra Modi, with plans for a Tesla factory expected to be announced. Musk has negotiated with the Indian government for long. He preferred to import cars into India at a lower duty while India wanted him to manufacture cars locally. He is likely to announce Tesla's India entry after the government announced its new EV policy last month which is likely to suit him. The government will allow the import of completely built-up electric cars that have a minimum cost, insurance and freight value of $35,000 (Rs. 29.2 lakh) at 15% import duty five years in exchange for a minimum investment of $500 million to start local manufacturing. India levies import duty of up to 100% on completely built-up cars. Read| Musk coming to India this month, may announce Tesla's India plan during meeting with PM Modi

sustainability. This radical departure from linear supply chains, entrenched in the take-make-dispose mindset, signals a transformative wave in business operations. Zero-waste logistics strategically tackles waste reduction across the entire supply chain, spanning from production through consumption and decisively sealing the loop on sustainability. In recent years, sustainability has surged to the forefront of business priorities, marking a 292% increase since 2021, according to Gartner's CEO survey. As this awareness grows, businesses re-evaluate their supply chains, seeking greener alternatives in line with circular economy principles. Following the take-make-dispose model, traditional supply chains have proven inefficient and costly. This linear approach contributes to environmental degradation and is also identified as a critical driver of biodiversity loss. Recognising this, businesses are now focusing on closing the loop on sustainability, emphasising circular models that address the root cause of waste production. The World Economic Forum defines the circular economy as 'restorative or regenerative by intention and design' to prevent waste generation. Circular supply chains operate on a closed-loop system, incorporating reuse, sharing, repair, refurbishment, remanufacturing, and recycling. A crucial component of this system is circular economy logistics, including reverse logistics, facilitating the circular flow of goods and connecting resources, products, and consumers.

Special Economic Zones (SEZ) law are expected to figure in the 100-day agenda of the commerce ministry for the next government and it may be introduced in the monsoon session of Parliament, sources said. The monsoon session will be the first session of the newly elected government which will also see the presentation of the full budget for 2024-25. The seven-phase Lok Sabha polls, the world's biggest election exercise, will kick off on April 19 with the counting of votes set to take place on June 4.

wholesale price index (WPI) after palm oil, whereas sunflower and soybean oils, which are now consumed more, get a lower weightage in the WPI of 2011-12, an anomaly which may lead to erroneous data about inflation. The Solvent Extractors' Association of India (SEA) recently wrote to the Centre, urging it to correct the weightage of different oils in the WPI to reflect the present consumption pattern. The weightage of edible oils in the WPI is 2.64293% under the food articles category. It is based on the consumption and the average price.

Neuberg Diagnostics is looking to raise $100 million by September, ahead of a planned public listing in two years, chairman GSK Velu said Friday. Neuberg, which runs a pan-India diagnostic chain, has appointed O3 Capital as the investment banker and is currently in talks with potential investors, Velu said in an interview. The Chennai-based company plans to use the fresh capital to expand its radiology business through acquisitions, he said. «Within two years, we want to list the company; we are doing the fundraise for some more M&A ramp up,» said Velu, also a serial entrepreneur having invested in eye care chain Maxivision. He is also the owner of medical equipment manufacturer Trivitron Healthcare and one of the key investors in Kaveri Hospitals. «With the proposed fundraise, we hope that our revenue will double in the next couple of years,» he added.

Ambuja Cements and ACC Ltd, is targeting to capture around one-fifth of the Indian cement market by FY28. Adani Cement business will implement its accelerated capex program through internal accruals and the business will continue to "remain debt free," said an investor presentation shared by Ambuja Cements. Besides, Adani Cement also amplifies the pace of capacity expansion and is expected to have an accelerated growth rate of 16 per cent to reach 140 MTPA (million tonnes per annum) by FY2028.

The bulk of Americans buying qualifying new electric vehicles are opting to receive an associated tax credit upfront from the car dealer instead of waiting until tax season, according to new Treasury Department data.  

HAL Share Price Today: Shares of public-sector undertaking (PSU) Hindustan Aeronautics Ltd or HAL rose more than three per cent to hit a lifetime record-high mark during intra-day on Friday, April 12. The surge in shares came as the Defence Ministry today issued a tender to the defence major for buying made-in-India 97 LCA Mark 1A fighter jets.

Dan Savickas, director of policy for the Taxpayer's Protection Alliance, spoke to FOX Business about former President Trump's proposed 60% tariff on Chinese imports and the effects of tariffs on American consumers.

Adani group, which owns Ambuja Cements and ACC Ltd, is targeting to capture around one-fifth of the Indian cement market by FY28. Adani Cement business will implement its accelerated capex program through internal accruals and the business will continue to «remain debt free,» said an investor presentation shared by Ambuja Cements. Besides, Adani Cement also amplifies the pace of capacity expansion and is expected to have an accelerated growth rate of 16 per cent to reach 140 MTPA (million tonnes per annum) by FY2028. «Adani Cement market share targeted to be 20 per cent by FY'28 from current 14 per cent,» the Adani group firm said.

Two-wheeler sales too recovered, growing by over 13% to 17.9 million units in the year under review. However, overall volumes are still shy of the peak of 21 million units reported in FY19. Meanwhile, sales of commercial vehicles remained flat at 967,000 units last fiscal. In March, the last month of the financial year, the cumulative sales of cars, sedans and utility vehicles was 368,086 units, up from 336,000 a year, as per data available with industry body Society of Indian Automobile Manufacturers (SIAM).

Musk's visit to India will begin on April 21. The billionaire will be in the country for 48 hours. During the visit, Musk is likely to make many high-profile announcements, including plans to launch the Starlink service and investment plans of around $2 billion to $3 billion in the country.