Manufacturing Financial News

global manufacturing in India, according to President and CEO of global transportation giant FedEx Raj Subramaniam. Addressing a session at the B20 Summit organised by CII, Subramaniam on Friday said about the opportunity for India to reduce non-tariff barriers, and make it streamlined and easy so that the goods can flow across borders as smoothly as possible. «India represents about 2.8 per cent of global manufacturing.

Reuters on 25 August. Developed by the Indian Space Research Organisation (ISRO), the Small Satellite Launch Vehicle (SSLV) is a low-cost means to launch satellites weighing up to 500 kg (1,102 lb) into low-earth orbit. The SSLV serves a booming market to launch clusters of satellites for communications and data that SpaceX and rivals compete in.

Renewable energy has significant advantages but also comes with unique constraints like weather, land availability and lack of flexibility on when power generation can happen and when it cannot, it pointed out. The newly launched open-source model will help address these complexities, it stated, adding that this model is designed to aid in national and state level power planning of energy. The IDEEA also aims to become a platform for open-source energy modelling.

Renewable energy firm ACME Group on Friday said it has signed a land agreement with Tata Steel Special Economic Zone (TSSEZL) for 343 acres for its green hydrogen and green ammonia project at the Gopalpur Industrial Park in Odisha. The company plans to set up a 1.3 MTPA green ammonia production facility. This green ammonia will be produced from green hydrogen, and the production facilities will be powered by renewable power, the company said in a statement.

Reuters reported that the central government is considering lowering the import duty to as low as 15% from the current levels of 100% for cars that cost above ₹33 Lakhs and 70% for the rest. "No proposal is before me to lower import duty on electric vehicles," Union Finance Minister Nirmala Sitharaman said while speaking to reporters on the sidelines of the B20 summit.

R K Marble embarked on a journey fueled by a passion for excellence. Over the years, the company's dedication to innovation and artistry has elevated it to a position of prominence, revolutionizing how we perceive and interact with natural stone. Its story is a testament to the power of vision, hard work, and a commitment to delivering the best.

₹19,000 crore. "It would be a major boost towards achieving the goal of self-reliance in defence manufacturing as these ships will be indigenously designed and constructed by HSL, Visakhapatnam," the ministry of defence said in a statement.

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TV takes less space compared to other models and sizes, making it apt for small apartments and cosy living spaces. A comfortable and snug viewing experience is what everyone wants. This has led to manufacturers offering several options for people looking for a 32-inch TV.

Aurobindo Pharma said on Friday, August 25 that its Committee of Independent Directors will pursue a comprehensive evaluation of all options regarding the restructuring of its wholly-owned subsidiary Eugia Pharma Specialities Limited. The pharma major clarified a news report which said the promoters of the firm have started the process of selling a majority stake in its injectables business Eugia Pharma.

Reliance Industries Ltd (RIL), led by Mukesh Amban... moreReliance Industries Ltd (RIL), led by Mukesh Ambani, is doubling its green energy investment target to ₹1.5 trillion, showing its commitment to sustainability.

Nirmala Sitharaman on Friday said that there is no proposal before the ministry to lower import duty on electric vehicles. A Reuters report earlier in the day claimed that India is working on a new electric vehicle policy that would slash import taxes for automakers that commit to some local manufacturing, following a proposal by Tesla which is considering entering the domestic market. The policy being considered, the report said, could allow automakers to import fully-built EVs into India at a reduced tax as low as 15%, compared to the current 100% that applies to cars that cost above $40,000 and 70% for the rest. Tesla first tried to enter India in 2021 by pushing officials to lower the 100% import tax for EVs.

A flurry of statements from the government and Communist Party since July have largely focused on encouraging more spending on things like consumer goods and cars, coaxing private companies to expand investment, and making it easier for businesses to access funding. But even with two interest rate cuts this year, Beijing isn’t unleashing the kind of monetary and fiscal stimulus implemented during past downturns. President Xi Jinping’s government is reluctant to give the kind of cash handouts to consumers that fueled post-pandemic recoveries in the US and elsewhere.

1) Company overview The company is engaged in the business of marketing and distributing pharmaceutical products. It works with various contract manufacturers, who make pharmaceutical products based on compositions given by the company, and subsequently it sells those products under the brand «DLS Export».2) Industry overviewIndia ranks third worldwide for pharma production by volume and 14th by value.

Arun Ramchandani, Executive Vice-President, L&T Defence, says “we have got a few good breakthrough orders this year. We see a lot of interest in our products, mainly in the artillery systems. A lot of them are in fire control systems, some of the defence electronics, upgrading of a lot of legacy weapon systems are there around the world. We see the potential for exports to grow as a percentage of our order book.”Let us talk about your order book position in the defence space and how the contribution is rising over the years from 3.8%. What kind of visibility do you have for major orders in the pipeline? The defence order book is looking very healthy.

Hindustan Aeronautics are among companies vetted to potentially bid in India's efforts to privatise its small satellite launch rocket, a source told Reuters, as the government seeks more investment in the booming space market. The Small Satellite Launch Vehicle (SSLV) was developed by the Indian Space Research Organisation (ISRO), the national space agency, as a low-cost means to launch satellites weighing up to 500 kg (1,102 lb) into low-earth orbit. They serve a booming market to launch clusters of satellites for communications and data that SpaceX and rivals compete in. About 20 companies had submitted an expression of interest in bidding on the privatisation, the first of its kind under a policy drive by Prime Minister Narendra Modi to open launch and other space businesses to investment. India is aiming to increase its share of the global satellite launch market by fivefold within the next decade. The next step will be to open the bidding process itself, the person said, who had direct knowledge of the matter but asked not to be named because discussions are not public. The companies did not respond to a Reuters request for comment. Hindustan Aeronautics, also known as HAL, and Larsen & Toubro, an industrial conglomerate, already have a contract with the government to manufacture and deliver rockets to ISRO. Under that contract, the companies will manufacture and deliver five Polar Satellite Launch Vehicles (PSLV) — often called ISRO's «workhorse» rocket.

Syrma SGS Technology share price surged over 9% to touch 52-week high on Friday's trading session after the company appointed Satendra Singh as Chief Executive Officer (CEO). Syrma SGS share price opened at ₹496.95 apiece on BSE. Syrma SGS share hit intraday high of ₹540 and low at ₹494.05.

Tesla made an investment proposal to set up a car factory in India, a way to enter the domestic market. According to an exclusive report by Reuters, the import tax could be reduced to as low as 15% as opposed to the current 100% for cars that cost above ₹33 Lakhs and 70% for the rest. The Reuters report citing people familiar with the development noted that the move if implemented could allow electric vehicle makers to import fully-built EVs into India with just 15% import tax to be paid to the Indian Government.

Small-cap stock below ₹200: Global investment firms Nexpact Limited and AG Dynamic Fund Limited have made investment in Nexpact Limited and AG Dynamic Fund Limited — a small-cap stock that has delivered multibagger return to its long term positional shareholders in year-to-date (YTD) time. These Mauritius-based foreign institutional investors (FIIs) bought stake in the company through preferential issue offered by the small-cap company Sprayking Agro Equipment Ltd.

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