Page 2 - Manufacturing Sector

India looks to bring 50 products under quality control order by next fiscal

India is looking to bring as many as 50 products such as aluminium, copper items, and household electrical appliances under the quality norms by the second quarter of 2023-24, a move aimed at containing import of the sub-standard goods and boost domestic industry. According to a communication of the department for promotion of industry and internal trade (DPIIT), it is continuously engaged with BIS (Bureau of Indian Standards) and concerned stakeholders for identification of products for which quality control orders (QCOs) could be issued. The items, under these orders, cannot be produced, sold/traded, imported and stocked unless they bear the BIS mark. It said that the DPIIT is in the process of formulating QCO for various products. These orders are issued by the department in consonance with the WTO Agreement on Technical Barriers to Trade (TBT) for industries falling under its domain. It is our endeavor to issue about 50 QCOs by the second quarter of 2023-24. In this regard, ..

Jammu & Kashmir tops scheme to assist microenterprises, shows govt data

Under the central sector scheme notified in 2008, 62,808 jobs were created by 7,851 assisted projects in Jammu & Kashmir till November 30 this year

Govt clears Rs 357 cr for Foxconn under PLI scheme for phone manufacturing

The PLI for large-scale electronics manufacturing sector launched with an aim to make India a competitive destination for electronics manufacturing

India public cloud service market to be worth $13 bn by 2026: Report

BFSI and manufacturing among leaders in public cloud adoption, as demand grows from other sectors

Top Headlines: Manufacturing firms shine, defence exports treble, and more

Business Standard brings you the top headlines at this hour

Manufacturing sector companies outperform on the bourses in 2022

But it remains a laggard on the bourses over the past decade

Bengal seeks more investment in cement sector, says minister Shashi Panja

West Bengal Commerce and Industry Minister Shashi Panja on Wednesday invited more investment in manufacturing, including cement, into the state. The industry has responded positively and at least two companies expressed keenness to invest in the state in the coming years. At an interactive session on cement organised by the Indian Chamber of Commerce, Panja said that that state can be a destination for cement companies, given the growing demand in the east and the availability of coal in abundance in this region. Cement companies have been struggling with coal shortage that has pushed their cost significantly in the last few quarters. The West Bengal government is trying to develop the Deocha Pachami coal block in Birbhum district. Companies such as Purvanchal Cement of Assam and Mangalam Cement of the BK Birla group stated that they have long-term plans to have grinding units in the state to meet the growing demand. "We have been allotted a raw material block in Chhattisgarh and

Amazon faces $280 mn lawsuit from Vietnamese supplier for post-Covid cuts

Gilimex Inc. said it was a key partner of Amazon from 2014 to 2022, investing tens of millions of dollars in manufacturing facilities to build the steel-and-cloth storage pods

World's play store: India scripts a local toy story, turns a net exporter

India is likely to extend the production-linked incentive (PLI) scheme to domestic toy manufacturers after Chinese toys were found to be "unsafe"

Rural distress harming MSMEs, pulling down manufacturing: Economists

Government's PLI schemes can help manufacturing and reduce import dependence in some sectors, say some experts

Zetwerk set for over $1-billion revenue in FY23 on China Plus One

Zetwerk's acquisition of Unimacts will provide the company with immediate access to marquee solar and wind-power customers

Smart fasteners are not just nuts and bolts

In auto sector adhesive tapes used for attaching components in unique ways allow carmakers to experiment with designs, since they are no longer bound by linear needs of traditional metallic fasteners

India as the world's factory: China may be in denial

It is interesting that the myths around the influence of Confucianism on Southeast Asia come not from Chinese scholars but from futurologist Hermann Kahn

Govt plans to roll out PLI scheme to encourage container manufacturing

Currently, India does not have a robust container manufacturing market, and a large portion of its containers come from China

IIP data: Industrial activity grows 3.1% in Sept; manufacturing a drag

Mining, manufacturing and electricity sectors grew at 4.6 per cent, 1.8 per cent and 11.6 per cent respectively

UP betting big on manufacturing to achieve trillion-dollar economy target

UP is among India's top producers and exporters of toys, leather goods, and textiles in the country

Top headlines: ESMA-RBI tussle, India's services exports, Paytm Q2 results

Business Standard brings you the top headlines this hour

Manufacturing PMI recovers to 55.3 in Oct amid contained price pressures

Manufacturing employment increases at 'marked rate' as factories report rise in orders, says survey

Cable manufacturer DCX Systems' Rs 500-cr IPO to open for 3 days on Oct 31

The Rs 500-crore initial share-sale of DCX Systems, manufacturer of cables and wire harness assemblies, will open for public subscription on October 31. The three-day Initial Public Offering (IPO) would close on November 2, according to the Red Herring Prospectus (RHP). The company has cut the size of its fresh issue of equity shares to Rs 400 crore from Rs 500 crore planned earlier. Apart from fresh issue, the IPO comprises an offer for sale of equity shares to the tune of up to Rs 100 crore by promoters -- NCBG Holdings Inc and VNG Technology. The company proposes to utilise the net proceeds from the fresh issue towards debt payment, funding working capital requirements, investment in its wholly-owned subsidiary Raneal Advanced Systems to fund its capital expenditure expenses and general corporate purposes. The Bengaluru-based company is primarily engaged in system integration and manufacturing a comprehensive array of cables and wire harness assemblies, and are also involved in

Syngene International's net profit rises 53% to Rs 102 crore in Q2

Syngene International on Wednesday reported a 53 per cent rise in consolidated net profit at Rs 102 crore in the second quarter ended September 2022 on the back of higher revenue. The company, which is an integrated research, development and manufacturing services firm, had posted a consolidated net profit of Rs 66.7 crore in the same period last fiscal, it said in a regulatory filing. Consolidated revenue from operations during the period under review stood at Rs 768.1 crore as against Rs 610.2 crore in the year-ago quarter, it added. "The quarter saw positive performances across all divisions. Our research divisions -- discovery services, including Synvent, our integrated drug discovery platform, and the dedicated centres showed sustained growth. Discovery chemistry in particular saw buoyant customer demand," Syngene International Ltd Managing Director and CEO Jonathan Hunt said. Growth in development services was led by existing clients renewing contracts and setting up ...