Manufacturing Financial News

₹5,500 crore in FY27 from ₹2,800 crore this fiscal year, according to two people aware of the discussions. This will underscore policy continuity in India’s electric vehicle (EV)-led transition, even as disbursals trail targets and newer automakers remain excluded.A proposal to this effect has been submitted by the heavy industries ministry to the finance ministry for the PLI scheme that has a ₹25,938 crore outlay over five years (FY25-29), and consultations are underway for the same, the people cited above said.“The scheme’s outlay is expected to be around ₹5,500 crore for FY27,” said one of the two people cited above, requesting anonymity.Notified in 2021, the PLI-Auto scheme aims to boost domestic manufacturing of advanced automotive technologies and position India as a global electric vehicle hub.

Subscribe to enjoy similar stories. Almost every corner of the power sector has rallied this year. Can that winning streak continue? The list of power-sector winners is long.

Subscribe to enjoy similar stories. Kajaria Ceramics’ recent disclosure of fraud is a sentiment dampener as it raises corporate governance issues. During the rollout of a new vendor onboarding system, Kajaria found an embezzlement of around ₹20 crore.

Bajaj Auto Ltd is crafting a turnaround for KTM, its biggest acquisition, to boost profitability even as it loses market share in its home market.Pune-based Bajaj Auto will look to discontinue smaller brands under KTM, rejig core operations and unlock synergies between the supply chains of Bajaj and KTM to reduce costs, according to management commentary during the earnings call and meetings with analysts.“After the KTM acquisition, Bajaj Auto would now focus on the restructuring of the core operations. They would also look to leverage synergy benefits in manufacturing operations, the supply chain, and the distribution network,” analysts at Motilal Oswal wrote in a 15 December note after meeting Bajaj Auto's leadership team.A revival plan for KTM is aimed at bolstering its premium offerings, as its exports remain profitable, while India’s fourth-largest two-wheeler maker’s domestic market share continues to decline.Bajaj Auto acquired struggling motorcycle maker KTM for about €800 million.

₹2,000 crore over the next three years to expand its battery recycling and critical minerals refining capacity, said co-founder and CEO Nitin Gupta.The company aims to scale up its rare earth recovery and recycling capacity in India to 100 tonne per day, from the current 1 tonne."Our (lithium ion) battery recycling capacity will increase to almost 300,000 tonne per annum from the current 17,000 tonne, almost 15 times the expansion," he said.Attero currently recovers rare earth elements from used permanent magnets and exports its recycled rare earth products. It recovers minerals such as neodymium and seramium that find end use in the permanent magnets in automotive and defence sectors.At a time when India is exploring ways to become self-reliant in critical minerals used in batteries, renewable energy components, defence and IT equipment, recycling of e-waste is increasingly seen as a major way to source these materials.India generates over 3.8 million tonne of e-waste annually.

Samsung’s India research & development (R&D) arm is the company’s most influential engineering team outside of its global headquarters in South Korea and alongside the US, a top company executive told Mint on Tuesday.According to Jong Bum Park, president and chief executive of Samsung Southwest Asia, Samsung’s India engineering operations account for the core development process of its second-largest revenue generator—smartphones. In fiscal year 2024 (FY24), Samsung generated $219 billion in revenue globally—of which 38% came from smartphones.The company’s semiconductor division, largely based out of the US and Korea, is its highest revenue generator.“The entire camera unit and its software for our flagship smartphones were developed and engineered entirely in India,” said Park in an interview.

Subscribe to enjoy similar stories. Varun Beverages Ltd (VBL)’s acquisition of South Africa-based Twizza (Pty) is less about shoring up near-term earnings and more about extending its growth runway beyond India. While the domestic business remains resilient, stiff competition is creating challenges.

Subscribe to enjoy similar stories. GE Vernova T&D India Ltd’s shares have risen about 8% after it announced a big-ticket order award from Adani Energy Solutions Ltd on Friday. The order pertains to the setting up of a high-voltage direct current (HVDC) substation for the evacuation of renewable energy from Khavda to Olpad in Gujarat.

Following the release of two discussion papers by India’s ministry of statistics outlining proposed methodological changes for the upcoming base-year revision of national accounts, there has been a renewed focus on our methodology for the GDP revision. The new base year will be 2022-23 and the revised series is scheduled for release in early 2026.

India’s fashion and apparel industry is projected at $350 billion by 2030, as it is growing at over 10% annually, faster than almost any other manufacturing sector. This momentum looks unstoppable, but it is also becoming a climate liability that could get in the way of our decarbonization goals.The arithmetic is unforgiving. Globally, fashion accounts for 10% of annual carbon emissions, more than all international flights and maritime shipping combined.

Subscribe to enjoy similar stories. For years, battery storage sat on the fringes of India’s clean energy plans. Falling costs and a stronger policy push are now pulling it into the mainstream, setting off a fresh investment cycle in battery energy storage systems (BESS).

Subscribe to enjoy similar stories. NEW DELHI : Electric vehicle investment write-offs by global auto giants, and a general automotive slowdown in demand, are sending some European auto component suppliers into bankruptcy, creating a potential business opportunity for Indian parts manufacturers as customers shift orders away from the distressed vendors.

Subscribe to enjoy similar stories. NEW DELHI : The Union government is planning an equity infusion of ₹30,000 crore in India’s sovereign wealth fund, according to two people familiar with the development, signalling a continued focus on infrastructure development that has bolstered economic growth. A note has been circulated for the consideration of the Expenditure Finance Committee (EFC) regarding the injection of capital into the National Investment and Infrastructure Fund (NIIF), according to the people quoted earlier, who spoke on the condition of anonymity.

The Sustainable Harnessing and Advancement of Nuclear Technology for India (Shanti) Act of 2025 is a watershed moment in making nuclear power a part of the country’s decarbonization strategy. It paves the way to achieve a target of 100GW of nuclear power capacity by 2047, while removing structural and legal hurdles that constrained investment, slowed capacity addition and kept the sector technologically insular.The Act heralds three transformative shifts. First, it opens the door for private sector participation in nuclear power generation, equipment manufacturing and fuel-cycle services.

The post-neoliberal consensus is here, but don’t look for it in US President Donald Trump’s policies. After a decade of backlash, it is time to accept not only that neoliberalism is dead, but also that a new consensus is taking its place. Remarkably, significant segments of the left and the right in America have come to agree on the broad outlines of economic policy.

Subscribe to enjoy similar stories. New Delhi: Vietnamese conglomerate Vingroup, which has interests spanning real estate, renewable energy and electric vehicles, is planning rapid international expansion via India, buoyed by its strong automotive performance even as its US push struggles amid Trump-era policies.

Russian energy, has also agreed to meet some of its demand from the US. Yet Russia remains relevant, having worked around the trading system through bilateral deals and its shadow fleet.On the other hand, Washington's attempts to derail China’s economy have largely fallen flat.

Sitting in the conference room of his office in Bengaluru, Ather co-founder and chief Tarun Mehta is amused at a question on how life has changed since the company went public. The bespectacled 36-year-old says he is frequently asked this, nearly everywhere he goes.“I'm getting a bit of a fomo (fear of missing out) right now. There's something I'm missing about what should have changed.

NEW DELHI/MUMBAI: Defence and aerospace companies are competing with high-frequency trading companies and tech giants in the clamour for engineers from the Indian Institutes of Technology (IIT), buoyed by their expansion plans and the entry of private firms in the space and defence sectors.These engineers are set to take on advanced manufacturing and product design projects in private companies based in India and seeking billion-dollar business avenues.“With the rise of space-tech startups—not just rocket makers like Skyroot, but also many promising satellite makers and space-intelligence-based startups in Hyderabad, Bengaluru and elsewhere—for the first time, India's top-tier candidates have a reliable and promising career opportunity to partake in truly world-class engineering right from India,” Temasek-backed Skyroot Aerospace said in an email response to Mint.Founded in Hyderabad by Pawan Kumar Chandana and Naga Bharath Daka, who were once colleagues at the Indian Space Research Organisation, Skyroot Aerospace is India’s highest-funded space startup with $95 million in venture capital funding to date. It is set to make its first commercial rocket launch from Indian soil by March 2026.

Reuters report.The massive, factory-sized system has reportedly been dubbed China’s “Manhattan Project”, a reference to the top-secret US effort during World War II to develop the atomic bomb ahead of Nazi Germany in the late 1930s and early 1940s.The development has profound implications for the global balance of technological and strategic power. At its core, it can dismantle the West’s near-monopoly over the production of the world’s most advanced chips—those that power AI systems, smartphones, and modern military platforms.A 2024 study by the Australian Strategic Policy Institute pointed to a “stunning shift in research leadership over the past two decades towards large economies in the Indo-Pacific, led by China’s exceptional gains.“The US led in 60 of 64 technologies in the five years from 2003 to 2007.

Subscribe to enjoy similar stories. FRANKFURT—Across Germany, railcar factories are being retooled to build military vehicles, auto suppliers are joining with defense contractors, and former soldiers are suddenly hot commodities in the jobs market. After Berlin pledged to spend more than half a trillion dollars on defense in the next decade, manufacturers facing stubborn economic stagnation and falling exports to the U.S.