Manufacturing Financial News

ethnic violence in Manipur has brought down the state's exports of handwoven textiles, medicinal plants and food items by almost 80%, according to M Chandrakeshore Singh Pallel, vice-president (Manipur) of North East Federation of International Trade (NEFIT). Manipur is famous for fabrics like moiraingphee, leirum, lasingphee and phanek, which have good demand in the US, Europe and Singapore. Media reports say that 142 people have been killed and thousands displaced since violence broke out in the state between the Meiteis and Kukis in early May, following a court order for granting scheduled tribe status to the Meities.

Trader Joe’s is recalling a broccoli cheddar soup that may contain insects and cooked falafel that may contain rocks, about one week after the grocery chain recalled two cookie products over similar concerns

New Delhi: External affairs minister S. Jaishankar on Sunday called on businesses to “optimize globalization" as global supply chains become more distributed. “There is already a debate underway on the downside of globalization.

TCS revamps group structure with new CEO New Delhi Tata Consultancy Services (TCS), India’s top software services company, has revamped its organizational structure by creating business groups based on industry sectors and geographies under new chief executive officer and managing director, K. Krithivasan who took charge on 1 June. These business groups such as banking, financial and insurance (BFSI), healthcare, retail and energy, would be led by senior executives appointed with effect from 1 August.

tax sops and concessions for its proposed economic hubs — -which seek to transform the existing export-focussed special economic zones (SEZs) — as India pushes to become a part of the global value chains and attract manufacturing into the country. The finance, commerce and industry ministries have firmed up the contours of Development of Enterprise and Service Hubs, or DESH, which could allow companies to defer their import duty liabilities, among other concessions, officials privy to the deliberations told ET.

McLeod Russel India Ltd and Carbon Resources for a one-time settlement of the former's debt with lenders, officials of both companies said on Sunday. The talks will take some more time to evaluate and agree on a mutually acceptable mechanism, and thus, the timeline for an exclusive negotiation agreement needs to be extended, they said. The timeline of the exclusive negotiation expired on July 28.

ISRO's Polar Satellite Launch Vehicle (PSLV) placed seven Singaporean satellites in orbits, Hyderabad-based Ananth Technologies contributed a range of components that made the spaceflight a success. Ananth Technologies Limited (ATL) supplied avionics packages and power systems for the PSLV, which had its 56th launch on Sunday and was also responsible for the sub-assembly integration of ISRO's warhorse rocket.

Afsar Pasha masterminded the Mangaluru bomb blast that occurred in November last year and he provided training in making cooker bombs to the accused in the case, a police official said on Sunday. Pasha, who had earlier received training in making bombs in Bangladesh, provided training to the Mangaluru blast case accused during their stay in a jail in Karnataka, he said.

The French finance minister says he pressed Chinese leaders to open their markets wider to foreign companies

Investing.com — More big tech earnings and the U.S. jobs report for July will be the main highlights in the week ahead. Investors will also be focusing on the Bank of England's latest rate decision and economic data out of the Eurozone and China. Here’s what you need to know to start your week.

COMEX Gold prices started the week on a negative note as mixed data from the US coupled with weak economic data from the European peers bolstered the greenback. US Services activity slowed more than forecast in July, however, manufacturing activity rebounded to a three-month high. At the same time, European and UK Services activity eased to a six-month low, leading to weakness in the Euro and Pound.

During his address at the Semicon India Conference on Sunday, India’s External Affairs Minister S Jaishankar called on businesses to optimise globalisation as global supply chains become more distributed. “There is already a debate underway on the downsides of globalisation. But in the technology and manufacturing worlds, this is a reality that cannot be reversed.

Hero MotoCorp and Harley-Davidson made an announcement about the X440 motorcycle, the first product resulting from their collaboration. The companies expressed their delight over the "highly positive response in customer bookings" for this motorcycle, which is considered the most affordable Harley in the world. In light of the strong demand, Hero has decided to close the booking window for the Harley-Davidson X440 on August 3, 2023.

Koppal and Belgavi — have emerged as hubs for contract manufacturing of toys and aircraft components over the past decade.Aequs, a contract manufacturer of aerospace components, toys and consumer durable goods, is now venturing into the aircraft interiors sector — so far the domain of China. «Till now, it has been happening mostly out of China, and today we have an opportunity to start doing it out of India because we are able to compete on a high volume,» Aequs Chairman and Chief Executive Officer Aravind Melligeri told PTI in an interview. «It is a whole another opportunity.

riders have raised concerns about the safety of some types of vehicles, and about whether they legally qualify as e-bikes. Here's what's known about e-bikes and their risks.What is an e-bike? The Consumer Product Safety Commission, the federal agency responsible for regulating the safety and sale of low-speed electric bicycles, defines an e-bike as a two- or three-wheel vehicle that has pedals and an electric motor. The motor must be rated below 750 watts, which is roughly twice the power that a professional cyclist can generate. The rider can use the pedals or the motor, singly or in combination. With the motor alone, the bike must not be capable of going faster than 20 mph on a level surface. State laws govern where e-bikes can be ridden, the minimum age for riders and other rules about how the vehicles are used. To meet federal regulations, bicycle manufacturers have developed a three-tier classification system for e-bikes.

By Jalandhar D. Giri

Micron Technology, Lam Research and Applied Materials deals with New Delhi extended to a new initiative and additional domains and can be expected to grow steadily, External Affairs Minister said at the SemiconIndia Conference on Sunday.Jaishankar said that during Prime Minister Narendra Modi's visit to the US, specific commitments were made with regard to Micron Technology, Lam Research and Applied Materials, and they have been the subject of deliberations as well. «During Prime Minister Modi's State visit to the United States in June 2023, semiconductors were also a focus of the talks with President Biden and his team. As you would be aware, the two leaders chaired a technology round-table with the brand names of the industry.

India's semiconductor mission is not just about meeting domestic requirements but also aimed at contributing to global demand for trusted manufacturing, External Affairs Minister S Jaishankar said on Sunday. In an address at a conference, he told top executives of leading global semiconductor firms that their decisions and relationships have implications far beyond immediate business and can contribute to re-engineering the global economy.

Tyre maker CEAT Ltd has lined up a capex of around Rs 750 crore for the ongoing fiscal, mostly to be deployed in increasing production capacity of agri-radial tyres at its Ambernath plant in Maharashtra, according to the company MD & CEO Arnab Banerjee. The company expects volume of its supplies to original equipment manufacturers (OEMs) to pick up in the third and fourth quarter of this fiscal, as it completes transition from smaller rim size to bigger sizes, with approvals from automobile manufacturers expected soon. In the replacement market, where CEAT has seen good growth in the first quarter specially in motorcycle tyres, the company expects the momentum to continue although in the rural market which has been dormant for sometime it may take another two more quarters for growth visibility to come.

ANI, “This collaboration today (between India and the US) extends to new initiatives in additional domains and can be expected to grow steadily in the times to come. We see that, for example, in space where India signing the Artemis Accords and promoting stronger NASA-ISRO collaboration is a sign of the times to come..." Earlier, PM Modi on Friday said that India is “rolling out the red carpet" for the semiconductor industry, as he invited global semiconductor majors to invest in India.

Tesla is ramping up efforts to open showrooms on sovereign tribal lands to sell directly to consumers