The government on Wednesday approved a Rs 7,350-crore scheme to boost production of laptops, tablets, all-in-one PCs and servers in the country, as it sought to woo global and domestic players to take advantage of India's manufacturing prowess. Production worth Rs 3.26 lakh crore and exports of Rs 2.45 lakh crore are estimated over the next four years under the new scheme, which is expected to create 1.80 lakh jobs. Briefing reporters after a meeting of the Cabinet, Communications and IT Minister Ravi Shankar Prasad said the Production Linked Incentive (PLI) scheme has been approved for IT hardware products that would cover laptops, tablets, all-in-one PCs and servers.
While the Nano is priced at Rs 1.12 lakh, Bajaj Auto's RE petrol variant costs about Rs 90,000, while its diesel variant is pegged at Rs 1.2 lakh. Analysts also say Bajaj can drop prices without any problem. "Bajaj Auto has been in the three-wheeler segment for 60 years. Which means their plants are fully depreciated and they can afford to lower the prices, which other manufacturers can't do," says a top executive from a competing three-wheeler brand.
The company had started test runs for engines at its Pune facility in September after it work was stopped indefinitely at its Singur plant from August 29, leading to the abandoning of the Singur project site on October 3.
Tata Motors on Monday announced that the Tata Nano Standard version (BS2) will be priced at Rs 1 lakh (Rs 100,000) ex Factory Pantnagar (excluding transportation charges and VAT) thereby delivering on the promise made at the unveiling of the car at the Auto Expo in New Delhi last year on January 10th 2008.
The supply of Tata Motors' much-awaited small car, the Nano, is going to be well below the demand for quite some months.
The Nano's mileage is being projected between 17 to 20 km per litre. Last month, Tata Motors had conducted various test runs of Nano on the hilly, serpentine roads of Uttarakhand. Government officials in Dehra Dun claimed the company has given a commitment to Uttarakhand Chief Minister B C Khanduri that it would roll out the first Nano from the state itself.
The wait for the world's cheapest car could soon be over as Tata Motors could commence limited commercial production of the Rs 100,000 Nano from alternate locations so that the first car could roll out towards the end of March 2009 from Pantnagar till the mother plant came up in Sanand near Ahmedabad.
Several companies, including Tata Motors and Bajaj Auto, which are setting up units in Uttarakhand, want to buy more land amid reports that plots comprising an area of 300 acres are still lying vacant in the key industrial estates of Haridwar.
Tata Motors was allotted 1,000 acres of prime agriculture land at the Pantnagar industrial estate in the hope that the company would set up its dream Nano project in Uttarakhand. It has now agreed in principle to allot 50 acres more to the auto giant. Tata Motors is seeking 100 acres for housing purposes. Meanwhile, suspense continues over the Nano project being shifted to the hill state.
Even as Tata Motors is racing against time to get its new Singur plant near Kolkata ready for commercial roll-out of the Nano by October 2008, the company may need an out-of-the-box solution to overcome some delays in the integrated plant and component park structure proposed for the vehicle.
The price war in the motorcycle market is all set to worsen with large production capacities at tax-free locations in the north ready to go on stream.
Ludhiana-based Bajaj Group of Industries said on Monday it plans to pump over Rs 50 crore (Rs 500 million) to set up new manufacturing facilities in Maharashtra, Uttaranchal and Ludhiana.
Commercial vehicles major Ashok Leyland has decided to set up a plant in Uttaranchal and will invest around Rs 1,100 crore (Rs 11 billion) in the new facility.
Through its new facility, the company would employ nearly 2,000 persons, a company release said.
In fresh troubles for Nestle over safety standards of its famous Maggi noodle brand, the Uttrakhand Food Safety Department has collected samples of the 'two-minute' noodles from the company's Pantanagar plant and other places in the state.
The scheme has been extended to all categories of employees.
Recently, the company has released videos on Maggi.
Nestle says newly manufactured Maggi found safe in tests; to start retail sales this month.
The left hind leg of Shaktimaan, the horse which suffered multiple fractures after being brutally attacked by BJP MLA Ganesh Joshi, was amputated on Thursday evening.
On October 16, Nestl received the go-ahead to resume manufacturing Maggi.
The Andhra Pradesh Raj Bhavan sex scandal and the paternity suit a love child filed against Tiwari dogged him in his 80s.
Unlikely to follow Pune model where a bifurcated package had a portion of pay linked to performance
Nestle was perceived as being feeble in its defence.
Bajaj Auto on Tuesday said it is hopeful of finding a solution to end the strike at its Chakan plant in the next two days and hence has extended deadline for the permanent transfer of 50 per cent of production from there to other units till Friday.
Production has crippled at Bajaj Auto's Chakan plant in Maharashtra following a labour strike which entered its third day today.
Bajaj Auto workers at the Chakan plant called off their strike on Tuesday after 50 days of agitation.
Meanwhile, the administration claimed it was fully prepared to deal with fresh fires in case they break out anywhere in the state due to a change in the weather.
The new obsession on cost control is powered by the company's 'GEAR' (Generate idea, evaluate, action and realise the idea) programme.
People poured their wrath on Mussoorie MLA Ganesh Joshi for showing cruelty to the animal.
Property markets in Uttarakhand and Himachal Pradesh, which have had a dream run in recent years, are set to face a downturn.
Ashok Leyland's debt increased to Rs 5,500 crore as of June, from Rs 4,300 crore at the end of the March quarter, mainly due to higher working capital.
Ambassador Islam 'Isi' Siddiqui, one of the highest ranking Indian Americans in the Obama administration, has resigned from his position as chief agricultural negotiator in the office of the United States Trade Representative.
A Mumbai-Delhi air ticket is now available upwards of Rs 3,700 for next day travel on all airlines.
Havells will acquire the entire consumer business infrastructure, people and distribution network. Plus all intellectual property of the Lloyd brand, logo, trademark and attendant rights.
Striking workers lacked support in the Pimpri-Chinchwad-Chakan belt.
Confirming that the company could shift its production to other facilities, Bajaj Auto Managing Director Rajiv Bajaj told Business Standard: "If we take a view that this (labour issue) is going to extend over the next two months, we certainly can do that, and will do that."
Finalises blueprint to become pan-Indian dairy player; to set up plants in 6 states.
The car so far known by the code name 'Kite' will be a hatchback.
'It is a brand that has done so well till recently.'
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