Manufacturing Financial News

Indo-US task force for electronics has been set up to elevate trade in the segment between the two nations to $100 billion over the next decade, the India Cellular and Electronics Association (ICEA) said Thursday. The task force will work towards boosting trade, fostering innovation, creating jobs, and achieving seamless integration with the global tech ecosystem, it added. “Having a vibrant ecosystem that is part of a global supply chain is imperative. I envision a business relationship between India and the US that is built on a foundation of trust and partnership,” RS Sharma, chief mentor of ICEA, and chair of the Indo-US Task Force for Electronics, said after the task force’s inaugural meeting in New Delhi. The task force will also look to further the strategic partnership between India and U.S.

MTAR Technologies, Kirloskar Oil Engines, Nazara Technologies, and Ion Exchange India will be added to the FTSE Global Smallcap index, effective September 15, global index aggregator FTSE Russell said. The changes are part of the semi-annual review of indices by the index aggregator. Nazara Technologies and Ion Exchange will be simultaneously removed from the FTSE Global Equity index series Micro-Cap. The news of the inclusion triggered strong buying action in the stocks in trade on Thursday. Shares of Ion Exchange rallied over 9% and hit a 1-month high of Rs 575 on the National Stock Exchange (NSE).

# What measures do drug manufacturers & retailers have to take now? A drug manufacturer will have to issue a price list to NPPA through Integrated Pharmaceutical Database Management System (IPDMS) and submit a copy to State Drug Controller and dealers. Every retailer and dealer shall display the price list as furnished by the manufacturer at his business premises in a manner easily accessible to any person wishing to consult the same.

MTAR Technologies share price rose for the second consecutive trading session on Thursday after the company received Defence Industrial License to manufacture various mechanical and electrical subsystems for the defence industry on Wednesday. Mtar Tech stock gained nearly 5% on today's session. MTAR Tech share price today opened at intraday low of ₹2,331 apiece on BSE.

chips hub to hedge against China-related supply risks. Semiconductors are expected to be a focal point when US President Joe Biden visits Hanoi from September 10 with the goal of formally elevating ties between the two countries. He will offer Vietnam support to boost its chips production, US administration officials said. «Friendshoring» segments of the strategic semiconductors industry has been one of Washington's key inducements to persuade Vietnam's communist leaders to agree to formally upgrade relations.

Atul Lall, Vice-Chairman & MD, Dixon Tech, says “as per the guidelines under IT PLI 2, we are committed to deepening the manufacturing and increasing the local value addition over a period of six years. We already have a large relationship with Acer. We have recently been awarded a large contract for notebooks by another very large global brand. We are setting up a new factory. This factory should be ready in the next six to eight months. We plan to take 2023-2024 as the base year and the commercial production should be starting in 2024-2025. This is indeed a very large opportunity prediction and we want to pursue it very aggressively.”We know already that you are looking at that PLI scheme as well and this entire import ban etc., that the government has introduced. Talk to us about the numbers in terms of the potential. What do you see it to be? You have tie-ups with Lenovo, Acer etc. Are those conversations now increasing? Are you getting more client inquiries?Undoubtedly, it is a very large opportunity for us.

Greaves Electric Mobility (GEMPL), India’s fifth largest electric two-wheeler maker, has sent a notice to the Society of Manufacturers ofElectric Vehicles (SMEV) to remove any reference to it on the latter’s website as it is not a member of the lobby body.

Manufacturers unnerved by warnings of potential blackouts as early as this summer have called for urgent intervention to remove roadblocks to new renewable energy projects and slow the retirement of coal-fired power stations.

Bharat Heavy Electricals Limited (BHEL) share price rallied over 2% to hit a 52-week high in the early trade on Thursday after the company bagged an order worth ₹15,530 crore from state-run NTPC for a thermal power plant. BHEL shares rose as much as 2.35% to ₹121.45 apiece on the BSE. BHEL has secured the order for setting up the 2x800 MW Supercritical Thermal Power Project Stage-II at Lara in Chhattisgarh for NTPC.

Indian Fast Moving Consumer Goods (FMCG) sector is on the cusp of a technological transformation, where Artificial Intelligence (AI) emerges as the guiding force reshaping every aspect of its landscape. From the shelves that hold your morning cereal to the ads that catch your eye online, AI is revolutionizing how FMCG operates, adapts, and thrives in a dynamic market. While the use of AI is still in early stages in the Indian FMCG industry, it is only a matter of time, before it is used extensively.

climate change by reducing dependency on fossil fuel-based energy, lowering the carbon footprint, and manufacturing green steel. “This collaboration perfectly describes our commitment towards clean and green energy solutions, which not only aligns with our goals towards climate change and sustainable development but also significantly benefits the steel manufacturing unit by reducing CO2 emissions and costs, enhancing sustainability, and contributing to carbon neutral goals by producing green steel," said Dilipkumar Pachpande, managing director, Sanyo Special Steel Manufacturing India.

China's factory activity contracted for a fifth straight month in August, official data showed on Thursday, as pressure mounts on Beijing to offer more policy support to bolster its sluggish economy. The reading is the latest to indicate the nation's post-Covid recovery is running off the tracks owing to a decline in overseas demand as well as a drop-off in consumption at home. The official manufacturing purchasing managers' index (PMI) — a key measure of factory output — came in at 49.7 in August, below the 50-point mark that separates expansion and contraction, according to the National Bureau of Statistics (NBS). Still, the reading was slightly higher than the July reading and also beat forecasts. The non-manufacturing PMI, which includes activity in the construction and services sectors, fell to 51.0, from 51.5 in July, according to NBS data.

Uranium should be added to Australia’s critical minerals list and the government should consider domestic enrichment of the nuclear fuel, according to the Minerals Council of Australia.

India is one of the fastest growing electric vehicle markets in the world, and more than 90% of India’s 2.3 million EVs are the cheaper and more popular two- or three-wheelers — that’s motorbikes, scooters and rickshaws

If you hail a rickshaw in the Indian city of Bengaluru, your driver might just be a 38-year-old transgender woman named Preethi

The Russian currency has stabilized after dipping below 100 rubles to the U.S. dollar — but that doesn't mean the pressure is off Russia's economy

The country’s largest locomotive manufacturer and its striking union workers have reached a tentative agreement that could end a two-month strike that saw about 1,400 people walk off the job at its Pennsylvania plant

factory output fell more than expected in July, signalling a rocky start to the second half of the year for manufacturers as worries mount over growth in China and the global economy. Industrial output fell 2.0% in July from the previous month, data from the Ministry of Economy, Trade and Industry showed on Thursday. The reading was worse than a median market forecast for a 1.4% drop and followed 2.4% growth in June. Production of cars rose 0.6% thanks to easing supply chain constraints for automakers.

Asian shares were set for the worst month since February, with sentiment hurt by still-gloomy China factory activity, while investors were also cautious ahead of a barrage of U.S. data that could add to bets that interest rates have peaked. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1% but was still headed for a monthly loss of 5.9%, the largest since February.

HPCL/IOL: Minister of Petroleum and Natural Gas, Hardeep Singh Puri stated on 30 August that the government would bear the cost of the promised ₹200 price decrease on household cooking gas cylinders, relieving the oil marketing companies of the impending loss of ₹7,500 crore. As a gift for the women in advance of Raksha Bandhan, the Union Cabinet on Tuesday lowered by 200 rupees the price of a 14.2 kilogramme LPG cooking gas cylinder. The decision was made as criticism of the Centre for its handling of rising inflation has grown.

climate change and sovereign debt, the global pandemic of industrial policy initiatives deserves to be on the agenda. From Magdeburg in east central Germany, where Intel was reportedly given subsidies of €7 billion to build a semiconductor factory, to a Taiwanese battery factory near Dunkirk in France lured by subsidies of €1.5 billion to the Micron Technology factory in Gujarat, more than two-thirds of which will be financed by the central and state governments, subsidies in the name of fostering strategic industries have gone viral.