Manufacturing Financial News

India's drug regulator has started collating and compiling the profiles of pharmaceutical plants in the country. The Drug Controller General of India (DCGI) has asked drug companies to provide details of each of their units operational in the country.

Apple Inc. is looking to stave off a crisis in China just days before the launch of its next iPhone, an already high-stakes event that will test whether new features can shake the smartphone industry out of the doldrums. The product unveiling, set to stream globally from the company’s headquarters on Tuesday, risks being overshadowed by multiple controversies in China — Apple’s largest international market.

IT hardware imports surged as much as 50% in August from July, ahead of licensing rules taking effect on November 1. Companies advanced procurements fearing a supply crunch, said manufacturers and a leading system integrator that buys from distributors and producers and supplies to enterprises. The Director General of Foreign Trade (DGFT) put the import of IT hardware, including laptops, PCs and servers, under the restricted category last month, calling for a licence.

Authorities are raising the alarm about a social media challenge in which people eat extremely spicy chips and attempt to avoid eating or drinking anything for as long as possible

Foxconn Technology Group chairman Young Liu has backed India as an important country for the future of manufacturing, saying that the opportunities for development of electronics manufacturing and industrial chains was very huge. Speaking to media at a group event in Taipei, Liu said that India would be able to build the ecosystem faster than China, which took 30 years, on the back of experience and new technologies such as AI. “Some of India’s development over the past few years, everyone can see that.

Chinese smartphone brand Realme is looking to expand local manufacturing in India through contract manufacturers several of whom are domestic companies besides asking its global suppliers to set up shop in the country, founder and global chief executive officer Sky Li said. The company aims to fully localize production of hearables and wearables in India after achieving complete local manufacturing of smartphones and televisions, Li said. «In terms of manufacturing, we are working to establish a strong manufacturing ecosystem all across India.

gun safe has been trending on the X platform (earlier known as Twitter) but for negative reasons. Liberty Safe, the brand has been given the same treatment that Twitterati gave to another brand, Bud Light. It is all a part of a cancel culture that is prevalent on social media.

NEW DELHI : Foxconn Technology Group chairman Young Liu has backed India as an important country for the future of manufacturing, saying that the opportunities for the development of electronics manufacturing and industrial chains were huge. Speaking to reporters at an event in Taipei, Liu said India could build the ecosystem faster than China—which took 30 years—on the back of experience and new technologies such as artificial intelligence (AI). “Some of India’s developments over the past few years, everyone can see that.

General Motors made its first wage-and-benefit offer to the United Auto Workers that falls far short of the union’s initial demands

Ashok Leyland, a Hinduja Group flagship company, will channel its capital expenditure towards developing various alternative fuel technologies for commercial vehicles over the next 18 months, even as it works on lowering development costs with partners, executive chairman Dheeraj Hinduja said. The company, known for its trucks and buses, has earmarked a capex of ₹600-700 crore for this financial year, and a significant part of it will be directed towards creating products with alternative fuel systems, such as hydrogen fuel cell buses, hydrogen-powered internal combustion engine (ICE) trucks, electric intermediate-trucks, as well as vehicles running on compressed natural gas (CNG) and liquefied natural gas (LNG). Leyland’s net-zero emissions subsidiary Switch Mobility has rolled out a range of electric light commercial vehicles (the IeV range) for last-mile transportation.

NEW DELHI : In order to strengthen the domestic production of Active Pharmaceuticals Ingredients (APIs), the Department of Pharmaceuticals is conducting a first-of-its-kind study on the gaps and challenges in the sector. In this regard, all pharma companies and drug manufacturing associations have been asked to share the import and export data of APIs for analyzing the domestic industry, financial gaps and technological challenges to make India future-ready in the global market.

By David Shepardson

RBI) had anticipated 8% growth in the first quarter. High-frequency indicators such as GST collections, e-way bills, PMIs for manufacturing and services, among others, have confirmed the economy’s strong growth trajectory. The Monthly Economic Review of the Department of Economic Affairs has been recording its momentum carried forth from the final quarter of 2022-23.

Anil Valluri, managing director of India & SAARC, Palo Alto Networks, India, said the world’s most populous nation saw a 75% increase in cybersecurity budget allocation for 2023 compared with the previous year, marking it one of the highest increases in the APAC region.

Ashok Leyland plans to roll out its entire product range with alternate fuel options over the next 3-5 years to cater to different sets of customers, according to its Chairman Dheeraj Hinduja. The Hinduja group flagship, the country's second-largest commercial vehicle maker, also plans to grow its business in the international markets. In an interaction with PTI on the sidelines of an event to launch its latest range of electric light commercial vehicles range, Hinduja said that besides electric and CNG trims, the company is looking at all kinds of alternate fuels like hydrogen, ethanol etc to power its model range going ahead. «So, the priority is to make sure that our full range becomes available in all different alternate fuel types. Whatever the customer might require,» Hinduja said.

₹80 per equity share and the share will be listed on the BSE SME exchange Monday, September 18. Kahan Packaging IPO, which is worth ₹5.76 crore, is completely a fresh issue; there is no offer for sale (OFS) component. The company plans to use the net proceeds from the offering to meet working capital requirements, and general corporate purpose.

India will be an important country in terms of manufacturing in future, Young Liu, Chairman and CEO of Hon Hai Technology Group (Foxconn) has said, his latest comment adding to a growing chorus of global voices acknowledging the country's bold moves to position itself as electronics and hi-tech production powerhouse. In an interaction with reporters in Taipei, the top honcho of the Taiwanese electronics manufacturing giant said the development of the entire ecosystem and industrial chain, and opportunities for development in India are «very, very huge opportunities». «If there is no big change, India will be a very important country in terms of manufacturing in the future,» Liu said. In the past, it took 30 years to build the entire supply chain ecosystem in China, he noted, adding that while it will take an «appropriate amount of time in India» and the process will be shorter given the experience.

Airbus C-295 tactical military transport aircraft this month, an official of the European aircraft manufacturer said on Thursday. «The first C-295 aircraft will be delivered to the Indian Air Force this month only,» Remi Maillard, Airbus India President and Managing Director, told a press conference here. Maillard was interacting with reporters after Airbus inked a memorandum of understanding with the Gati Shakti Vishwavidyalaya to train engineers for the aviation sector. An Airbus functionary said that Indian Air Force chief Air Marshal V R Chaudhari will travel to Seville in Spain to take the delivery of the first C-295 aircraft. India had inked an agreement with Airbus for supply of 56 C-295 military transport aircraft in September 2021. As per the agreement, 40 aircraft will be built at the facility set up by Tata Advanced Systems Limited in partnership with Airbus at Vadodara. Airbus will supply 16 aircraft in fly away condition from its facility in Spain. The C-295, having 5-10 tonne capacity, is used for tactical transport of up to 71 troops or 50 paratroopers, and for logistic operations to locations that are not accessible to current heavier aircraft.

“We have signed a contract for 56 C295 aircrafts with the Indian Air Force, 40 of these will be fully manufactured, assembled, and maintained out of India,” Maillard told ET adding that the balance 16 aircrafts will come in fly away condition from Spain. “The first C295 aircraft will be delivered to the Indian Air Force this month itself.

Renewable energy company Avaada Group on Thursday announced setting up a green hydrogen and ammonia manufacturing unit at Gopalpur Industrial Park of Tata Steel SEZ Ltd in Odisha. The announcement follows Avaada's signing of a memorandum of understanding (MoU) with Tata Steel Special Economic Zone Ltd (TSSEZL). Earlier, TSSEZL had signed an MoU with ACME Clean Energy.

By John Kemp