Page 5 - Manufacturing

Meity looks to tweak the PLI scheme for top IT hardware companies

In its first year, the PLI scheme for IT hardware did not perform according to expectations

Need to boost manufacturing to create jobs, says Anand Mahindra

"Only 40 per cent of the labour force that is capable of working is actually working or looking for work. The biggest sufferers are youth and women," said Mahindra.

Engineering company Fabrication Bazar raises Rs 7 cr in seed round

Fabrication Bazar, which was founded in 2016 by Dwaipayan Dutta and Mohit Garg, has developed a cloud fabrication and tracking platform for manufacturing

Ford India sets Aug 10 deadline for employees to conclude severance talks

Ford India had increased its offer from 87 days to 124 days of average equivalent wages per completed years of service

What is the DESH Bill?

The govt is likely to introduce the Development of Enterprise and Service Hubs (DESH) Bill in the upcoming monsoon session of Parliament. How will it overhaul the ecosystem of special economic zones?

3 workers succumb to burns after fire at candle making unit in Karnataka

Three people, who were scalded in a fire tragedy at a sparkler birthday candle manufacturing factory, have succumbed to their injuries, police here said on Sunday.

Why have Special economic zones (SEZ) not taken off in India?

Special economic zones have delivered mixed results in India. The government is now working on a new law to address some of the problems. Here's India's experience with SEZs so far and the challenges

Godi India to set up lithium-ion cell giga factory; gets BIS certification

Godi India is the first in the country to have certification from the Bureau of Indian Standards' for lithium-ion cells made using its home-grown technology

No respite for manufacturers as inflation continues to weigh on the economy

As India's business optimism slid to a 27-month low of 50.9, economists say they do not see a respite for manufacturers from cost inflation in the near term

Zetwerk buys Pinaka Aerospace to expand defence manufacturing business

Zetwerk has made two other acquisitions and the total value of all three deals is approximately Rs 100 crore

Murugappa Group posts 23% rise in net profit in FY22, manufacturing grows

Murugappa Group's turnover increased by 31 per cent to Rs 54,722 crore, as against Rs 41,706 crore in 2020-21

Indian economy gains momentum on pent-up demand after reopenings

The upturn in recovery of Indian economy was fueled by an expansion in services activity and a robust growth in core infrastructure industries

Stalin launches Centre for advance mfg; urges faster industry 4.0 adoption

Two centres at Sipcot Industrial Parks inn Hosur and Sriperumbudur also launched; Maturity Index survey also set up to help companies achieve their Industry 4.0 goals

Domestic toy makers see surge in sales after dip in Chinese imports

Sales rise for domestic players after India last year banned sale of toys that are not certified by Bureau of Indian Standards

Groyyo raises $40 million in Series A funding round led by Tiger Global

These funds will be utilised to scale up the team across manufacturing clusters in India and Bangladesh and key demand belts in the United States and European Union

In expansion mode, KSP INC announces the opening of 1 Lakh Sq. Ft manufacturing plant in Noida

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Syngene's Q4 PAT up 7% to Rs 148 cr; revenue rises 15% to Rs 758 cr

The company had reported a PAT of Rs 138 crore in the January-March period of 2020-21

UK economic growth slows down amid declines in manufacturing

Gross domestic product increased just 0.1% from a month earlier, down from the 0.8% growth reported in January, the Office for National Statistics said Monday.

Factory activity slowed in March, optimism at 2-year low: PMI survey

The Manufacturing Purchasing Managers' Index declined to 54.0 in March from 54.9 in February.

Brick manufacturing, trading to attract 6% GST without ITC; 12% with credit

Brick kilns can opt for a composition scheme to pay a 6 per cent GST without input tax credit (ITC) beginning Friday, higher than 5 per cent earlier. Those businesses who do not wish to opt for the composition scheme would be subject to 12 per cent Goods and Services Tax (GST) with ITC. The government on March 31 notified the GST rates that would be applicable from April 1. As per the notification, building bricks, earthen or roofing tiles, fly ash bricks and blocks, bricks of fossil meals can opt for a composition scheme. So far, manufacturing and trading of bricks were chargeable at 5 per cent GST, and businesses were allowed to claim credit on inputs. The GST Council had in September last year decided to bring brick kilns under a special composition scheme from April 1, 2022. AMRG & Associates Senior Partner Rajat Mohan said India is already witnessing high inflation and at this juncture, any steep increase in tax rates for essential infrastructure items would lead to a ripple