The Confederation of Indian Industry has set up a Mission for Manufacturing Innovation to create "100 new billion-dollar companies over three years".
A major fire broke out in Britannia Industries' Pantnagar manufacturing plant on Sunday destroying thousands of tons of biscuits. However, no one was killed or injured in the fire which broke out around 1230 hours in the biscuit division of the factory, Senior Superintendent of Police (SSP) Udhamsingh Nagar (district) Manjunath T C told Business Standard after the firefighters put the fire out. "With the help of 15-20 fire tenders, we were able to control the fire which was very major," Manjunath said.
The Mumbai-based firm has lost almost 10 percentage points in market share since 2009-10, even as other brands have fought hard to wrest share away.
19 per cent of the directors don't attend three in four board meetings.
'I want to tell everybody there is nothing in the world that you can't do.' 'If you apply your mind, you can do anything and everything.'
A steady climb in volumes has helped the company double its market share in the segment to 5 per cent in the first six months of the financial year from the year-ago period and it has now set its sights on a 10 per cent share in the next two years.
The signs were visible for a while, but reality has finally hit home.
The overall volume at India's top four M&HCV makers - Tata Motors, Ashok Leyland, Volvo Eicher, and Mahindra & Mahindra - fell 59.5 per cent to 31,067 units during the month.
The highest pay hikes for the current year are set to come from Maruti Suzuki and Hero Honda.
Managing director of Ashok Leyland R Seshasayee was elected CII president while Sunil Bharti Mittal of Bharti Telecom became the vice president on Wednesday.
Issues relating to shortage of key automotive components, which were supposed to be sorted out a month ago, will hit production even for the next two quarters, as slow ramp-up and discrepancies in tyre prices impact output.
Truck movements across the India-Bangladesh border are on the rise, with increasing rentals signalling a trade recovery between the two South Asian nations. Yet, geopolitical tension looms large, with Bangladesh now under an interim government for nearly two months.
Industry representatives have said from the second half of the year, they hope to see revival because the rural economy is looking up and the projects the government has announced.
Renault readies a practical and spacious people-carrier for a 2014 Auto Expo.
The micro engineering industries in Tamil Nadu have been affected by the ongoing global economic meltdown.
Chennai-based Ashok Leyland Ltd, the second largest truck maker in India, has inaugurated an integrated manufacturing facility at Pantnagar, Uttarakhand. This unit, in which Rs 1,500 crore (Rs 15 billion) have been invested, is the company's seventh.
Auto makers, who enjoyed a record-breaking sales run over recent months, are now bracing themselves for upheaval, led primarily by changing government policies and rising inflationary pressures.
Home-grown automotive players like Tata Motors, Ashok Leyland, Bajaj Auto, Hero Honda, TVS Motors and Maruti Suzuki are augmenting the use of plastics in engine components in an ambitious effort to reduce dependence on key metals like steel and aluminium, all of which have witnessed stupendous rise of 35-50 per cent in the past 5 months.
MHCV sales' grew by 9% to 5,033 units over September 2020 and 3% over October 2019, the first month registering growth over the previous year.
Say lower duties could enhance demand.
Chennai is home to global and Indian auto majors like BMW, Ford, Hyundai, Mitsubishi, Nissan, Ashok Leyland, TVS Group, et cetera. It also has almost 35 per cent of India's share of auto ancillary units.
Automobile component manufacturers are rejoicing over a sudden 30-40 per cent spurt in demand in February. Analysts are, however, not entirely sure of the reason for this high growth; many are doubtful if it can be sustained, given the other gloomy signals. An analyst says, "Almost all car makers have either completely withdrawn or drastically reduced their promotional offers." Also, payment issues as far as vendors are concerned remains a problem.
State transport undertakings are warming up to the multinationals despite premium pricing
ICICI Bank chief K V Kamath to be new CII vice president.
Combined sales at top four manufacturers - Tata Motors, Ashok Leyland, Volvo Eicher Commercial Vehicles, and Mahindra and Mahindra - dropped 20 per cent to 20,324 units in November
The JV was supposed to get at least 45 per cent stake.
This move will make Dish TV, an Essel Group company, the first DTH operator to have installed their DTH services in consumer homes, cars, buses, aircraft, cruise liners and on trains. "Dish everywhere is our motto. We aim to provide our DTH services across all platforms, whether moving, flying or stationary," a senior Dish TV executive said. This move is likely to help the company market its services to the potential consumers more effectively.
Private players are increasingly looking at the defence market which is a promising multi billion-dollar arena.
Though things are going well for India, the unfinished agenda is still huge and needs to be addressed quickly.
A Rs 250-300 crore (Rs 2.5-3 billion) healthcare facility in Tamil Nadu with a capacity of 200-300 beds is being planned by the Hinduja Group of Companies.
Low-base effect to kick in, but higher raw material prices could spoil the show.
Hinduja group on Monday announced major investment initiatives totaling up to $10 billion with Qatar for infrastructure projects through an Indo-Qatar fund with intial corpus of $1billion.
Sales of commercial vehicles, which were on a decline for over a year, are showing signs of a recovery. Two out of the three CV makers reported an increase in sales last month.
Mutual funds bought pharma, manufacturing, auto, and FMCG stocks in June.
