Manufacturing Financial News

Maruti Suzuki on Saturday said it is looking at launching 10 new models, including half a dozen electric vehicles, in the next seven years as it looks to double total sales to four million units per annum. The country’s largest carmaker, which has commenced work to double its production capacity, is in the process of setting up its largest manufacturing facility with total installed capacity of one million units at Kharkhoda, Haryana. The company board has also approved establishment of another factory with one million units capacity, the site for which is yet to be finalised.

Tech Mahindra trained 8,000 employees in artificial intelligence as it readies itself to cater to demand around generative AI and quantum computing, a senior company official said on Saturday. Tech Mahindra global chief people officer and head of marketing Harshvendra Soin said that the company is enhancing focus on BFSI, healthcare, manufacturing and retail sectors in geographies like the USA.

IPOs in August: The primary market witnessed some major listings in both main board and SME IPOs in July, which kept investors engaged with subscriptions and listings. Moving on, August will also witness new listings some much-awaited IPO issues that are available for subscription. Let's take a look at some of the companies that are opening for subscription this month, along with few that are getting listed on the bourses.

Amazon Great Freedom Festival Sale 2023, air conditioners will be available at unbelievable discounts. The sweltering summer heat is in full swing, so this is the ideal time to get a great deal on your preferred cooling appliance. Amazon has everything you need, whether you're looking for a window AC, a split AC, or a portable AC. You can choose from a variety of options from well-known manufacturers like LG, Samsung, Voltas, and Daikin to meet your needs and budget. This sale is a fantastic opportunity to upgrade your cooling system with discounts of up to 55% off on End of Season sales on ACs and also get additional promotions like free EMI and exchange deals. Don’t pass up these great deals, and make the most of the Amazon Great Freedom Festival Sale 2023 to beat the heat and stay cool all summer long.Grab your favorite Deals Now!

Roseate Hotels & Resorts, owned by Bird Group, plans to add two hotels annually through management agreements while pursuing the development of luxury boutique properties in India and abroad, Kush Kapoor, CEO of the company, told ET. The company intends to include coworking centers at hotels in metro cities, while its properties in holiday destinations will be developed as resorts. «We are receiving organic queries from owners willing to offer their properties, and simultaneously, some owners with beautiful locations are interested in entrusting their properties to us. We are now exploring management options alongside our existing hotels,» Kapoor said. The company has recently acquired 2.6 acres of land near the upcoming Noida airport for the development of a 250-room project that will include a spacious convention center. «If everything goes well, and we get all our approvals in time, we should be able to start construction soon on the Noida hotel. We are also looking at expanding the Rishikesh resort as well,» Kapoor said.

IT hardware manufacturers including global PC makers have registered for manufacturing laptops, tablets and personal computers in India, an official source said on Saturday. The official, without naming any company, said that IT hardware production in the country is expected to repeat the success that has been achieved in mobile phone manufacturing under the production linked incentive (PLI) scheme.

Sanghi Industries Ltd (SIL) from its existing promoter group - Ravi Sanghi and family. Day after the deal was announced Congress leader Jairam Ramesh alleged that the Prime Minister Narendra Modi led government has been ‘handing over’ prized assets to the beleaguered billionaire, all while unleashing probe agencies on Adani Group's competitors.

ISRO on Saturday said it has transferred the IMS-1 Satellite Bus Technology to Alpha Design Technologies Pvt. Ltd in a step towards enhancing private industry participation in the country's space sector. NewSpace India Limited (NSIL), the commercial arm of ISRO, facilitated the technology transfer through an agreement signed during an event held at the NSIL headquarters on August 2, the space agency said on its website.

₹250 crore will have to compulsorily follow GMP within six months, while those with a turnover of less than ₹250 crore will have to do so in a 12-month period. The government amending schedule M of the Drugs and Cosmetics Rules, 1945 to upgrade and tighten the GMP norms for pharma firms. This compulsory compliance comes after the government inspection found serious lapses in the maintenance by these drug firms.

HSN 8741 category. As per the government notification, the import of restricted items will be allowed only against a valid license. Reacting to this, Hari Om Rai, Chairman and Co-founder of Lava International, praised the government's initiative and called it a "leadership move" that will benefit both the industry and consumers.

TVS Supply Chain Solutions will open on Thursday, July 10. In the SME space, Srivari Spices and Foods will launch its public issue on Monday, August 7. Investors will also have the opportunity to subscribe to the ongoing issues viz.

New Delhi: As the country has set ambitious net-zero and energy transition goals, sector experts have suggested that India will have to develop a vibrant low carbon manufacturing industry. In an interaction Vibha Dhawan, director, TERI said: “When we are talking of energy transition, it’s directly related to the sustainable development goals and what we are basically looking at that we have to develop a vibrant low carbon manufacturing industry." The statement gains significance as several industries exporting goods to the Europe are already preparing themselves to comply to the European Union’s Carbon Border Adjustment Mechanism (CBAM) which would come into force in October.

In a notification issued late night, the Directorate General of Foreign Trade (DGFT) gave «liberal transitional arrangements» for such imports and said that its August 3 notification on import restrictions will be effective from November 2023. «Keeping in view global supply chain arrangements and long-term commitments of the industry stakeholders, liberal transitional arrangements are notified for these imports till October 31, 2023,» said an official. As per the notification, import consignments can be cleared till October 31, 2023, without a licence for restricted imports.

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security does not constitute a breach of WTO rules, unless contested. Security restrictions are commonplace for countries to impose non-tariff trade barriers. India's notification this week requires importers of IT hardware to obtain a permit from the Directorate General of Foreign Trade (DGFT), which promises to issue these expeditiously.

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NEW DELHI : The government has extended the deadline for implementing import restrictions on laptops, tablets, and servers to 1 November, a late evening government notification said. According to the notification from the Directorate General of Foreign Trade, import consignments can be cleared without a licence until 31 October. “There will be a transition period for this to be put into effect, which will be notified soon," Rajeev Chandrasekhar, minister of state for electronics and information technology, said in a post on social media X on Friday before the notification was issued.

Make in India program, which offers incentives for manufacturing electronics and other high-tech goods locally, with eligible companies standing to recoup millions of dollars of their investments. The country initially targeted the program at smartphones and has since expanded it to other areas, including drones and semiconductors as well as tech hardware.

PCs, along with Rs 17,000-crore IT hardware PLI, will create multi-billion dollar local production capacity and import dependency will nosedive in the next 2-3 years, industry players said on Friday. The government has made it mandatory for importers of laptops, tablets and certain types of computers to get a valid licence, with immediate effect for security reasons and to promote domestic manufacturing.