Page 4 - Manufacturing

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Joe Biden's old tactics are botching the dream of made-in-America EVs

As the EV hype ramps up and a shortage of batteries emerges, industrial giants like SK Innovation Co., Honda Motor Co., etc., have announced billions of dollars of manufacturing facilities across US

UK economy shrank in August, now on brink of recession: Report

Weakness in manufacturing and maintenance work in North Sea oil and gas fields contributed to a 0.3% fall in GDP from July, and the report also showed how a jump in inflation was hitting consumers

Understand conditions that can render warranty void before buying a product

Buy an extended warranty only if there is no duplication vis-a-vis manufacturer's warranty

Govt to adopt digital manufacturing processes: Mahendra Nath Pandey

On the occasion, 175 electric vehicles for Gujarat and Karnataka were flagged off under the FAME Scheme

Reliance, Sanmina completes JV deal to build manufacturing hub in India

Integrated manufacturing solutions company Sanmina Corporation and Reliance Strategic Business Ventures Limited (RSBVL), announced the completion of their joint venture transaction

Samsung sets 5-year plan to lure US chip buyers with tech advances

The company's chip contract-manufacturing unit -- known as a foundry -- is looking to triple its revenue by that year from the 2021 level, Senior Vice President Moonsoo Kang said at a briefing Monday

World factory activity weakens on global slowdown, cost pressures

Those hikes have stoked fears of a sharp downturn in global demand that had underpinned exports

Top Headlines: PM Gati Shakti plan, broad-based rules for PE/VCs, and more

Under a 100-trillion-rupee ($1.2 trillion) mega project called PM Gati Shakti Modi's administration is creating a digital platform that combines 16 ministries

Goldi Solar to invest Rs 5,000 cr to raise module manufacturing capacity

Gujarat-based Goldi Solar is planning to invest Rs 5,000 crore by 2025 to expand its module manufacturing capacity to 6 gigawatt, the company's Managing Director Ishver Dholakiya said on Monday. At present, the total module manufacturing capacity of its plants in Pipodara and Navsari, Gujarat is 2.5 gigawatt (GW), Dholakiya told reporters during a press conference here. "We have plans to infuse over Rs 5,000 crore as part of expansion plans to increase module manufacturing from 2.5 GW to 6 GW," he said while launching HELOC Plus (high-efficiency low on carbon) module series with Heterojunction technology. The renewable energy business expansion will be channelled into auxiliary production, including aluminium frames, junction boxes, backsheet, etc, Dholakiya said. The investment will be made by the year 2025, he said, adding his company also aims to recruit over 4,500 people across various functions, which will increase its workforce to over 5,500. "We plan to hire 25 per cent of

Zetwerk Manufacturing records six-fold growth in GMV to Rs 5,718 crore

The company secured orders worth Rs 11,200 crore at the group level during the year ended March 31, 2022, an increase of 200 per cent over the previous year

Govt tweaks Rs 76k-cr semiconductor, display fab scheme to woo global firms

The Cabinet on Wednesday approved modifications in the scheme for semiconductors and display manufacturing ecosystem, with uniform fiscal support of 50 per cent of project cost for all technology nodes under the ambitious programme. Announcing the decision of the Cabinet, Union Minister Anurag Thakur said the modifications will strengthen the semiconductor scheme, thus raising capacities within the country, encouraging investments, and creating employment opportunities. "Under modified programme, a uniform fiscal support of 50 per cent of project cost shall be provided across all technology nodes for setting up of Semiconductor Fabs," an official release said. Given the niche technology and nature of compound semiconductors and advanced packaging, the modified programme shall provide fiscal support of 50 per cent of capital expenditure for setting up of compound semiconductors / silicon photonics / sensors / discrete semiconductors fabs. "The programme has attracted many global ...

Manufacturing in dire straits: Output up just 1.1% compared with 2019-20

Electricity output has grown around 11%; consumer durables and non-durables have contracted 6.7% and 2.4%, respectively

FM Sitharaman asks India Inc why it is hesitant to invest in manufacturing

Finance Minister Nirmala Sitharaman on Tuesday sought to know from industry what is holding it back from investing in manufacturing, even though foreign investors show confidence in India. Drawing parallel between India Inc and mythological character 'Hanuman', Sitharaman said the government is willing to engage with the industry and take policy action. This is the time for India We cannot miss the bus, she added. She said the government has brought in production linked incentive scheme, cut tax rates to encourage the domestic industry to invest in manufacturing. No policy can be end in itself.. it keeps evolving as we go on. That applies even to industries that have come in the sunrise sector for which we have given policy support through an incentive. I would equally want to know from the Indian industry why is it that they are hesitant (to invest). We will do everything to get the industry come and invest here..(but) I want to hear from India Inc what's stopping you?, she ...

Harsha Engineers IPO to open on Sep 14; price band set at Rs 314-330/share

Harsha Engineers International, manufacturer of precision bearing cages, on Friday said it has fixed a price band of Rs 314-330 per share for its Rs 755-crore initial public offering (IPO). The initial share-sale will open for public subscription on September 14, and conclude on September 16, the company announced. The Rs 755-crore public issue consists of a fresh issue of equity shares aggregating to Rs 455 crore, and an offer-for-sale (OFS) of up to Rs 300 crore by existing shareholders. As a part of the OFS, Rajendra Shah, Harish Rangwala, Pilak Shah, Charusheela Rangwala and Nirmala Shah will offload shares. The offer also includes a reservation for subscription by eligible employees. Proceeds from the fresh issue to the tune of up to Rs 270 crore will be utilised for debt payment, up to Rs 76 crore for funding working capital requirements towards purchase of machinery, up to Rs 7.12 crore for infrastructure repairs and renovation of the existing production facilities and for

Planet Scuba India ropes in CREST to manufacture dive equipment in India

The company will introduce CREST Diving to DRDO's DEBEL and will aim to make India an alternative to China as a manufacturer of dive equipment

India's manufacturing growth stays robust in Aug, inflation eases

S&P Global's Manufacturing Purchasing Managers' Index dips slightly to 56.2 in August from 56.4 in July

Govt issues 63 show cause notices to makers, importers of weighing machines

The government has issued 63 show cause notices to the manufacturers and importers selling weighing and measuring instruments on e-commerce platforms, seeking details of compliance with legal requirements. It has been observed that some manufacturers and importers of these instruments are selling the person weighing machines and kitchen scales on the e-commerce platforms without complying with the legal provisions, an official statement said on Tuesday. "Centre, through the Department of Legal Metrology has issued 63 show cause notices to the manufacturers/importers of the weighing and measuring instruments for seeking details of compliance," it said. It noted that unauthorised sales on e-commerce sites have not only created deficiency in service to the consumer but have also caused revenue loss to the government. "The notices were issued to manufacturers/ importers/ sellers on e-commerce platforms, seeking details of the approval of model, manufacturing/importer/dealer license and

Insured assets worth Rs 150 cr affected in fire at Neemrana unit: Havells

Assets worth Rs 150 crore, which were fully insured, were affected in the massive fire at its Neemrana-based manufacturing unit, said consumer electrical goods manufacturer Havells India. On July 27, a massive fire had broken out at Havells factory at Neemrana in Rajasthan's Alwar district. There was no human loss/injury and the entire building, plant and machinery, and inventories at the Neemrana plant were fully insured, said a regulatory update from Havells India. "The company has now ascertained the book value of the assets affected due to the incident as around Rs 150 crore, which is fully insured," it said. Havells' Neemrana unit is the largest and most automated water heater plant in India. Established in 2004 and spread over 1,94,249 square metres, Havells also manufactures lighting fixtures, CFLs, HID lamps and motors here. For the financial year ended on March 31, 2022, Havells India's revenue was at Rs 13,888.53 crore.

July auto sales rise 10% YoY as chip availability improves: SIAM

Market for entry-level passenger cars, two-wheelers and three-wheelers yet to recover