Manufacturing Financial News

₹95,000 crore and the expected fund flow will create about 2.25 million new job opportunities in the next 4-6 years, according to a senior government official on Friday. The ministry expects ₹25,000 crore investments under the Production Linked Incentive Scheme (PLI) and another ₹70,000 crore investment under the PM Mega Integrated Textile Regions and Apparel (PM-MITRA) park scheme in the next 4-6 years, textiles secretary Rachna Shah said during an interaction. The PLI scheme in textile sector will create 250,000 new jobs and the expected fund flow in seven PM-MITRA parks will generate direct and indirect employment for 2 million persons, Shah added.

Israel's military exports to India, its largest defence buyer, have not been affected by the war in Gaza, an Indian source and an Israeli source aware of the details said. India has imported military hardware worth $2.9 billion from Israel over the last decade, including radars, surveillance and combat drones, and missiles. Israel launched its months-long military campaign after militants from Hamas-ruled Gaza killed 1,200 people and took 253 hostages in southern Israel on Oct. 7. Since then, more than 29,000 Palestinians have been killed, according to Gaza's Hamas-run health ministry.

Yogi Adityanath on February 26, according to sources from the district administration. Notably, the construction of the Small Calibre Ammunition Manufacturing Plant, established by the Adani Group in the Saadh Defence Corridor of Narwal Tehsil in Kanpur, is nearing completion. Preparations Underway for Inauguration Preparations for the inauguration ceremony are in full swing, with the administration working diligently to ensure a seamless event. In addition to the ammunition manufacturing plant, a storehouse has been constructed within the Defence Corridor. The Adani Group acquired approximately 200 hectares of land from locals in Saadh village for this project. Moreover, plans are underway to construct a helipad in close proximity to the Defence Corridor. Recently, officials from the Public Works Department (PWD) and representatives from the Adani Group conducted a site inspection. Sub-divisional magistrate Rishabh Verma stated that preparations are underway for the chief minister's visit, pending official notification.

manufacturing sector needs to contribute a quarter to India's economic growth amid its ambition of becoming a USD 30-trillion economy by 2030 and a developed country (Viksit Bharat), M&M group Managing Director and CEO Anish Shah said on Friday. Sharing his perspective on the role industries and enterprises will have to play in accelerating national growth and economic prosperity at the third ABP Network's 'Ideas of India Summit 3.0' here, he also said over the next seven years, Indian GDP is expected to add as much to the global GDP as the entire European Union combined. The two-day event, which began here on Friday, has seen the participation of policymakers, cultural ambassadors, industry experts, celebrities, business leaders, economists, among others. «India envisions to be a 30-trillion economy by 2047 to be a Viksit Bharat. This means manufacturing should be 25 per cent of GDP… We should be more ambitious and make manufacturing grow 16 times and exports grow 11 times.» Shah said.

TOKYO (Reuters) — Toyota Motor (NYSE:TM) has extended until March 1 the shutdown of two production lines at two manufacturing plants run by Toyota group companies in Japan, it said on Friday.

₹4,263 per metric tonne for the sale of PDM by sugar mills to fertiliser companies for the current year. PDM manufacturers can also claim a subsidy at ₹345 per ton at current rates under Nutrient Based Subsidy Scheme (NBS) of the department of fertilisers. Sugar mills and fertiliser companies will now discuss how they can enter into long-term sale and purchase agreements for PDM.

Angel One: The brokerage firm will raise nearly ₹2,000 crore through preferential issue, QIP or other modes, the company announced on February 22. The company in an exchange filing said it'll use the funds to augment and build financial flexibility to grow the business within the broking business and across inorganic avenues within the fintech space.

Space sector startups involved in satellite manufacturing, launch vehicle operations and component manufacturing are set to gain from the latest amendments to the foreign direct investment (FDI) rules for India’s space sector as they will help them tap global pools of capital to expand local manufacturing and production capacity, firms and experts told ET. Pranav Roach, president, Hughes Network Systems India Ltd, expects the latest FDI announcements to accelerate momentum in the satellite sector, especially in attracting more players and services.

cybersecurity threats from companies of Chinese origin or those linked to its political philosophy, US Federal Communications Commission (FCC) commissioner Brendan Carr told ET, pointing to New Delhi’s pre-emptive action against entities posing both commercial and security challenges to an increasingly digital economy. In an exclusive interview, Carr, who is on his maiden India trip, said that India’s actions on the short-video platform TikTok and telecom equipment suppliers Huawei and ZTE have “set the gold standard in terms of appropriate and strong actions to deal with the threats posed by the Chinese Communist Party (CCP).”

₹3,672 crore for the ₹5,000 crore project, the rest will come from sovereign green funds, green bonds, carbon markets and multilateral development banks, among others. NHEV is also in talks with joint ventures of public sector companies to take up and operate charging infrastructure.

Investing.com-- Semiconductor maker Kioxia Holdings and U.S. partner Western Digital Corporation (NASDAQ:WDC) will resume negotiations for a potential merger in late-April 2024, Japanese newspaper Asahi Shimbun reported on Friday.

By Steve Gorman and Joey Roulette

Two tech CEOs scrambling to produce more of the sophisticated chips needed for artificial intelligence have met for a brainstorming session while the market’s early leader reported another quarter of eye-popping growth

My11Circle, RuPay, Angel One, and Ceat have bagged sponsorship slots for the Indian Premier League (IPL) for a cumulative sum of ₹1,485 crore, people privy to the development told ET. Three out of four winners have bid for five years until 2028 while RuPay has bid for a three-year deal ending in 2026. The bids were submitted to the Board of Control for Cricket in India (BCCI) on Wednesday.

Now there are even smart room fresheners that are very easy to use and offer great convenience through technology. From automatic air fresheners to manual aerosol sprays and gels, this list of the best room fresheners features the top choices from the top manufacturers in India.

asset reconstruction companies including global fund JC Flowers ARC and Varde Partners-backed Aditya Birla ARC are participating in the Swiss auctions that lenders have initiated for three road projects — Pink City Expressway, Haridwar Highways Project, and Rohtak Hissar Tollway — and Metenere, a manufacturer of recycled non-ferrous products. Kotak Mahindra Bank-sponsored Phoenix ARC, Omkara ARC, and Prudent ARC too are among those who have submitted bids for either all four or a few of these stressed debt on sale, based on binding bids from the government-backed bad bank National Asset Reconstruction Company Ltd (NARCL), a person familiar with the development said. «The Swiss auction is triggered after NARCL submitted binding bids for these assets and after the highest bidder is announced, NARCL will be given the right to match the offer,» the person said. «Lenders want to close the sale of these NPLs before the end of this financial year.»

India’s decision to allow up to 100% foreign direct investment (FDI) in space companies will help the industry in the long run, even though it may not offer an immediate boost, industry veterans and stakeholders said. Late on 21 February, the Union cabinet approved a new FDI policy for the space sector, which will allow FDI ranging from 49-100% in different areas.

loans to electric vehicle (EV) technology manufacturing ventures, although the Biden administration still has $221.8 billion in loan capacity to fund clean-energy projects. Jigar Shah, director of the energy department's loan program office, told Reuters in Detroit that applications for $80 billion in financing have come to his office within the past two months from «very sophisticated players.»

₹80,000-crore Indian decorative paints market. “Our vision is ambitious and our initial goal is clear—to clock revenues of ₹10,000 crore and become profitable not later than the third year of full-scale operations," Birla said on Thursday at an event to launch the group’s paints brand, Birla Opus. Birla Opus products will be available in Punjab, Haryana and Tamil Nadu from mid-March and in towns with populations of at least 100,000 by July 2024.

₹65,000 crore, which will include a steel plant with a capacity of 13.2 MT, a captive power plant, captive jetties with cargo-handling capacity, a cement manufacturing unit, etc. Port facilities would considerably ease logistics. JSW is eyeing stakes in overseas coal mining operations.

To begin with, there are numerous uncertainties surrounding the continuation of FAME subsidies into the next financial year. Earlier this year, the government declared that subsidies under the second phase of the FAME Scheme would be available for e-vehicles sold until March 31, 2024, or until funds are depleted, whichever comes first. With only Rs 7,048 crore allocated for electric two-wheelers, three-wheelers, and four-wheelers, it's imperative to act swiftly, or you might miss out on the benefits.