Manufacturing Financial News

₹1.25 trillion by 2030-31 to develop 10-11 new models, including six electric vehicles (EVs), and double its annual production to 4 million units. In a presentation, the country’s largest carmaker said it plans to dial up its presence in new vehicle segments, including hybrid, flex fuel and electric, particularly in the sport utility vehicle (SUV) format. The company said it expects EVs to make up 15-20% of its sales by 2030-31.

Indian smartphone manufacturers including Lava and Bhagwati (Micromax) are struggling to meet their incremental targets under the production-linked incentive (PLI) scheme for the third year in a row in FY24, underlining challenges in the government's efforts to create local manufacturing champions. Dixon Technologies is set to be among a few exceptions as it has some big orders and signed some new ones, industry executives said. While global manufacturing companies such as Foxconn, Wistron and Samsung have helped the PLI scheme for mobile phones become a grand success, a top executive at homegrown smartphone brand Lava said the manufacturing industry needs more time to establish local champions.

By Joyce Lee

ICEA) has called on global and domestic supply chain stakeholders to capitalise on the revised Production-linked incentive scheme for IT hardware, adding that the industry and the nation will no longer endure the ramifications of a stunted domestic manufacturing sector in IT hardware. With a substantial budgetary outlay of more than USD 2 billion, the revised scheme heralds a significant pivot towards bolstering the IT Hardware manufacturing landscape in India, opening the doors for global and domestic supply chains to establish or expand their manufacturing bases in this vibrant market, the association said.

In this article, we have curated a selection of the best power banks under 1000 in India, known for their reliability. We have made sure to include every possible detail about the products in this article to help you gain an in-depth understanding. Once you've gone through the complete product list, you can use the provided buying links.

We don’t support this browser anymore. This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

The stuttering energy transition is forcing big industrial companies like Boral to temporarily shut down cement production to avoid peak electricity prices, putting at risk the nation’s build-out of housing and infrastructure stock.

The federal government’s $387 billion price tag to replace Australia’s coal-fired power stations with small modular nuclear reactors “doesn’t make sense,” an executive from US manufacturer Westinghouse Electric has claimed, arguing the price could be much cheaper.

chipmakers, diamond processors and software-services providers. Saturday’s assault has sparked fresh concern about geopolitical risks among investors just when global financial markets were already grappling with the impact of high-interest rates and the slowdown in China’s economy. Oil surged more than 5% while US equity futures dropped in Asia trading, as the risk of the conflict escalating across the Middle East region remains acute. “The Israel-Hamas conflicts over the weekend may escalate geopolitical tensions in the Middle East region, causing risk-off trades,” Tina Teng, an analyst at CMC Markets wrote in a note. “Markets will be concerned about the rippling effects to the region.” The MSCI Asia Pacific Index treaded water as markets in Japan, South Korea and Taiwan were closed for a holiday, while trading in Hong Kong was halted due to a typhoon. Here are some global themes to watch: Technology Chip stocks from Nvidia Corp.

«We already have one conflict in Europe, adding another conflict to that in the Middle East does not really create anything good, so nothing good is going to come out of it is the way we would look at it,» says Vetri Subramaniam, CIO, UTI AMC. It seems like in the conversations as well in the past with a lot of market experts, they were alluding to the fact that if at all there were to be a sort of change in the undertone of the market that would largely be led by global events or global developments. Do you think what we are seeing play out right now warrants a sort of a decisive change in the market sentiment? I am not sure everybody has managed to figure out the geopolitical implications of whatever has happened over the last three days in the Middle East and what that could actually mean for markets, but I think the bigger sort of trend is obviously that this is something which could create a fresh round of instability.

₹77.40 apiece on NSE SME, a premium of 10.57% to the issue price of ₹70 per share. Arabian Petroleum IPO had received strong response from investors as the issue was subscribed 19.91 times during the subscription period. The public issue was subscribed by a robust 23.19 times in the retail category and 15.72 times in the Other category.

Sunil Subramaniam, MD & CEO, Sundaram Mutual, says he “would tend to be underweight on external oriented sectors. This includes metals, energy and even IT to that extent. We believe that the growth story of the world is at least a couple of years away in terms of the world booming back to growth. It is going to be an extended slowdown. False alarms will keep coming. We would rather stay cautious on the side lines.” What will happen to global sectors? Metal is a bet on China. IT is a bet on the US. Manufacturing is a bet on Europe. What happens there? Globally we are not very positive on what is happening in the US GDP data and all seems to keep surprising us. But if you look at the credit cycle that is happening there, people are revolving credit like there is no tomorrow. There is a slowdown in jobs. So, we believe that a slowdown is inevitable. Now, between a hard landing and soft landing, one could have probability factors but we do not think that there is a growth story in the world yet. We believe that the world is going to go through an extended period of slowdown. Europe will suffer a little more. So, we would tend to be underweight on external oriented sectors. This includes metals, energy and even IT to that extent. We believe that the growth story of the world is at least a couple of years away in terms of the world booming back to growth. It is going to be an extended slowdown. False alarms will keep coming. We would rather stay cautious on the side lines.

ASX listed Gold Hydrogen is looking to tap into the potential of hydrogen as an environmentally sustainable fuel, not by manufacturing it, but by extracting it from the ground.

NEW DELHI : China’s BYD Auto Co. Ltd’s executives have been unable to secure Indian visas for at least over a year, precluding in-person meetings with representatives of Megha Engineering and Infrastructure Ltd in India for their electric vehicle (EV) project, two people familiar with the developments said. In the absence of Indian visas, meetings between BYD and Megha executives are being held in countries such as Nepal, Sri Lanka and China, the people said on condition of anonymity.

NEW DELHI : The government along with the Indian Drugs Manufacturers’ Association (IDMA) plans to celebrate the first ever National Current Good Manufacturing Practice Day (cGMP Day) on 10 October, as they focus on improving the poor quality of many Indian drugs. The pharma industry has been hit by several incidents of Indian cough syrups causing the deaths of children in importing countries, following which government has made GMP guidelines mandatory for all drugmakers.

India exported smartphones worth USD 4.67 billion in April-July this fiscal, following a multifold jump in shipments to the US, which emerged as the biggest destination for India-made devices, according to government data. The smartphone exports to the US jumped multiple times to USD 1.67 billion during the first four months of this fiscal against USD 284.6 million a year ago, the commerce ministry data showed.

Sun Pharmaceutical Industries and Aurobindo Pharma are recalling products from the US market due to manufacturing issues, according to the US Food & Drug Administration. As per the latest Enforcement Report issued by the American health regulator, a US-based subsidiary of Mumbai-based Sun Pharma is recalling 69,707 cartons of Cequa (cyclosporine ophthalmic solution) from the US market. The medication is used for the treatment of dry eyes.

Mobile phone exports from India almost doubled to USD 5.5 billion, about Rs 45,700 crore, till August this financial year, according to industry body ICEA's estimates. ICEA said, mobile phone exports from India between April-August 2023 was around USD 3 billion, about Rs 24,850 crore. A source, who did not wish to be named, said, with Apple exported mobile phones worth more than Rs 23,000 crore, thereby accounting for a little over half of the total export.

₹10 lakh - ₹35 lakh salary range are sought after. During a job change in the auto sector, one can expect a 25% salary increase, which can rise to 50% for those with EV-specific experience. Headhunters are witnessing a surge in demand as automakers diversify their EV product lines.

China’s investment in the Lithium battery industry is seemingly coming back to haunt the country’s smaller battery manufacturers who have invested billions to take advantage of the growing demands as well as the subsidies provided by the government. China’s battery manufacturers are expected to produce 4,800 gigawatt-hours (GWh) of batteries by 2025 while the demand for such batteries is shrinking by the hour. This is not only quadruple of the demand sought by the country’s EV makers, but is also ultimately going to lead to the closure of battery manufacturers that operate in smaller sizes. As per reports from private companies operating in the lithium industry, the production capacity at China’s battery factories is estimated to reach more than twice the demand levels in the country, approximately for 22 million EVs. China, globally accounts for the largest share in processing some of the most essential materials required to produce batteries; such as 65% of the world’s lithium, 74% of cobalt, 100% of graphite and 42% of copper processing units.

Jindal Steel and Power (JSP) is planning to make its Angul unit India's largest single-location steel manufacturing facility, its Managing Director Bimlendra Jha has said. Currently, the capacity of the Odisha plant is being ramped up to 11.6 million tonnes per annum (MTPA) from the existing 5.6 MTPA, Jha told PTI in an interaction. «We are more than doubling the capacity in Angul by next year...we have ambitions to further double it up to 24 MTPA, making it India's largest single-location steel plant,» the managing director said without sharing any timeline for the plan.