Manufacturing Financial News

By Chen Lin

cameras, printers, hard disks, parts of telephonic and telegraphic devices, said people aware of the matter. The local demand for these products is substantial and their heavy imports need immediate intervention to push domestic production opportunities, they said. The imports of these goods crossed $10.08 billion in FY23.

Nasscom has requested the government to put in abeyance and review its decision to impose licensing requirements for the import of laptops, all-in-one-personal computers and certain other electronic equipment as it will hit the $245 billion Indian IT sector severely. Nasscom has written to the government on this and is in discussion with the industry to “understand in greater detail the challenges that are being anticipated” so that those could be shared with the government, Nasscom vice president and head of public policy Ashish Aggarwal said.

Apple, HP, Lenovo, Asus and Xiaomi are looking to ship in as many laptops and tablets as possible to the country before import restrictions kick in on November 1, multiple industry executives and analysts said. These firms will increase imports by up to 50% more than what they had initially planned till October end to ensure there is enough pipeline stock for 4-6 months when the new licensing regime for imports of laptops, tablets, and personal computers begins, they said.

₹4 trillion in the last fiscal year, registering a 28% rise. From 1 November, India will restrict the import of laptops and computers in a bid to boost domestic manufacturing. Meanwhile, Indian companies' spending on corporate social responsibility (CSR) remained flat in 2021-22.

MUMBAI : The Monetary Policy Committee (MPC), as widely expected, maintained status quo on policy actions, voting unanimously to hold the repo rate at 6.5%. The stance remained “focused on withdrawal of accommodation", with one dissent. On liquidity management, the instrumentality of the 10% incremental cash reserve ratio (CRR) was a bit of a surprise.

Life Insurance Corp of India (LIC) recorded a 14-fold year-on-year jump in net profit at ₹9,543.7 crore for the first quarter of FY24, even though the country's largest insurer has been witnessing a shrink in its market share in terms of new business premium. The super-normal growth in net profit is primarily attributed to a base effect and a change in accounting entry, involving a transfer of funds from non-participating policies to shareholders account as a part of accretion on the available solvency margin, according to a regulatory filing. In the previous fiscal's June quarter, LIC's net profit was ₹682.9 crore.

NEW DELHI: : India and Taiwan are working on a migration and mobility agreement for greater collaboration and movement of skilled professionals between their technology industries, a person aware of the matter said. An agreement may also cover sectors like agriculture and manufacturing. Taiwan’s skills in semiconductor manufacturing and advanced technologies could fit well with India’s large pool of technology talent.

Amazon India on Thursday said it has cumulatively digitised 62 lakh micro, small, and medium enterprises (MSMEs) and enabled exports worth $8 billion. As part of its 2025 pledge for key focus areas of job creation, exports, and digitising MSMEs, the company has created 13 lakh direct and indirect jobs out of its pledge to create 2 million (20 lakh) jobs.

FMCG level, small manufacturers are driving the value and volume growth. This is led by rural, while in urban, volume growth is at par for large and small, NiIQ said.

Tata Motors Ltd has received a certificate from the Automotive Research Association of India (ARAI) for domestic value addition (DVA), a key step which will qualify it to receive incentives under the government’s ₹25,938 crore PLI scheme to boost the country’s manufacturing capabilities for advanced automotive technologies. Tata Motors is only the second manufacturer after Mahindra & Mahindra Ltd to receive the eligibility certificate for the production-linked incentive (PLI) scheme.

By Andrea Shalal

By Gabriel Araujo

parliamentary panel on Thursday complimented the defence ministry for its "synergised efforts" to realise the objective of ensuring self-reliance in military hardware. The Standing Committee on Defence also noted that the expenditure on procurement from domestic sources has witnessed an increasing trend since 2018-19. The percentage of procurement from domestic defence manufacturers stood at 63.6 per cent in 2020-21 as against 54 per cent in 2018-19, the panel said in a report tabled in Parliament.

Shelter Pharma IPO: The initial public offering (IPO) of Shelter Pharma opened for subscription on Thursday, August 10 and was subscribed 1.10 times by the end of the session. Shelter Pharma is a small- and medium-sized enterprise (SME) IPO will remain open for investors till Monday, August 14. The Gujarat-based company and is engaged in the business of manufacturing herbal products in Human Pharma as well as the Veterinary space.

Covid-19 pandemic induced lockdown. According to reports, the official consumer price index, a measure of inflation, fell by 0.3% last month from a year earlier. On Tuesday, official figures showed that China's exports fell by 14.5% in July compared with a year earlier, while imports dropped 12.4%.

₹41,000 crore was earmarked for the sector over five years. At least 32 applicants were approved and local manufacturing continued its upward trajectory. A revised version of the programme is aimed at reprising that for computers.

Container Corporation of India on Thursday reported over 17% decline in net profit at ₹246 crore for the first quarter ended June 30 of fiscal year 2024. The company had posted ₹297 crore in the same period a year ago. Revenue from operations dropped 3.6% at ₹ 1,922 crore, Container Corporation said in an exchange filing.

Painkiller," delves into the infamous opioid crisis in the United States. Featuring Uzo Aduba, Matthew Broderick, Sam Anderson and Taylor Kitsch in lead roles, the show provides a sobering portrayal with a focus on Purdue Pharma, the OxyContin manufacturer. For those anticipating the series, the wait is almost over. Here's the essential information you need about «Painkiller,» from its premiere date and time to where you can catch it.

A17 Bionic chip. According to GSM Arena, noted tipster @URedditor has shared insights that reveal the chip's architecture. The A17 chip is expected to possess a remarkable composition, with six CPU cores and six GPU cores. This signifies a notable leap from its predecessor, the A16 Bionic, which had five GPU cores. This boost in core count promises significant performance enhancements, ensuring a seamless user experience across a variety of applications. It doesn't stop there. The A17 Bionic chip is reported to operate at a maximum clock speed of 3.70 GHz, reinforcing its potential as a powerhouse for computational tasks and graphics-intensive activities. Notably, this chip is anticipated to be manufactured using the cutting-edge 3nm process by Taiwan Semiconductor Manufacturing Company (TSMC).

PTI citing officials on Thursday. Saxena said tobacco products are now affecting children and youngsters and this menace should be contained for the future generation, said the report.