India's services sector activity eased in August but growth rates for new orders remain elevated, as services firms indicated the sharpest upturn in new export business which acted as a catalyst for firms to expand their workforces as well as output, a monthly survey said on Tuesday. Despite falling from 62.3 in July to 60.1 in August, the seasonally adjusted S&P Global India Services PMI Business Activity Index indicated one of the strongest increases in output seen since mid-2010. For the 25th straight month, the headline figure was above the neutral 50 threshold.
With just a month left in this financial year, electric two-wheeler sales, so far, are at just 62 per cent of the ambitious target of 1 million units set for 2022-23 by the NITI Aayog. According to VAHAN data, compiled by the Society of Manufacturers of Electric Vehicles (SMEV), 620,006 units of electric two-wheelers were sold across the country in FY23 until February 21. Though the industry may miss the 1-million target, sales in FY23 are already up 146 per cent from 249,621 units sold in FY22.
Considering the government's promise of electricity for all by 2012, the only specific mention in the entire Union Budget for the power sector includes the allocation of Rs 7,000 crore (Rs 70 billion)for RGGVY and Rs 2,080 crore (Rs 20.8 billion) for the RAPDRP programme, Indian Electrical and Electronics Manufacturers Association, said. IEEMA welcomes the continuation of reforms, abolition of the fringe benefit tax and proposed introduction of GST on April 1, 2010.
Days after medical representatives said their employers were flouting the government's drug-pricing norms, the pharmaceutical industry has decided to clip their wings. These companies want them to be no longer recognised as "workmen," a classification that gives them the right to form trade unions.
Australia cricketer Phillip Hughes was wearing an older model helmet when he suffered a serious head injury on Tuesday and the latest version released about a year ago might have offered better protection, the equipment manufacturer has said.
Manufacturers Association of Information Technology on Tuesday demanded that excise duty should be halved to eight per cent to provide necessary tax incentive to the languishing sector.
Maruti being the market leader with a disproportionately high share of the passenger car market helped its component makers grow as an industry all these years and hence, the exit from a segment is a jolt if not a big setback.
India's services sector growth accelerated in April, as strong demand conditions resulted in the fastest increase in new business and output in close to 13 years, a monthly survey said on Wednesday. The pick-up in demand occurred in spite of escalating price pressures. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 57.8 in March to 62.0 in April, signalling the fastest expansion in output since mid 2010, amid a pick-up in new business growth and favourable market conditions.
Will syringe shortage puncture India's Covid vaccine plans?
Automobile retail sales in India rose 11 per cent in September as better supplies from manufacturers enabled dealers to ramp up customer deliveries amid the ongoing festive period, Federation Of Automobile Dealers Associations said on Tuesday. Last month, total retail sales stood at 14,64,001 units as compared to 13,19,647 units in September 2021. FADA noted that October is expected to witness even better overall sales due to the festive season further gathering steam.
While extending the National List of Essential Medicines will help patients, care has to be taken to ensure this does not lead to a slowdown of production as has happened in case of DPCO drugs.
Hyderabad is likely to lose its status as the pharmaceutical capital of the country if the current political turmoil in Andhra Pradesh continues and the state is bifurcated, according to the head of the Bulk Drug Manufacturers Association (BDMA).
The recorded sales include both notebooks and desktop personal computers as of March 2008. Information Technology consumption in 2007-08 was led by a significant growth in notebook sales, which grew by 114 per cent, industry performance review by Manufacturers Association for Information Technology, the apex body representing India's IT hardware sector said. Western and Southern India recorded a maximum growth in PC consumption at 39 per cent each.
The director general of investigations and registration, in its 30-page report submitted to MRTPC, said that industry body CMA was instrumental in fixing prices in the sector.
Dealers across brands are slashing prices by Rs 20,000 to over Rs 1 lakh, depending on the car model.
Only the top 5 per cent profit makers account for 75 per cent of profits.
New participants included Chinese players such as Great Wall Motors and Haima Automobile along with Olectra.
While an estimated 3.3 lakh tonnes of e-waste is generated in India, about 50,000 tonnes is imported or dumped in the country. Only 40 per cent of India's total e-waste is recycled, and the rest is left in storehouses due to an inefficient collection system.
India's lunar mission Chandrayaan-3 holds immense potential for gathering critical data and will significantly contribute to the understanding of the Moon, a former top National Aeronautics and Space Administration (NASA) official has said, describing India-United States space partnership further moving to the moon.
India Inc has suffered a massive loss of over Rs 43,000 crore (Rs 430 billion), in the recently concluded financial year due to non-availability and mismanagement of power, a study says.
Foundries in Taiwan account for more than 75 per cent of the chips that mobile devices made in India need, according to estimates by the Indian Cellular and Electronics Association (ICEA), which represents global and domestic manufacturers. The number is slightly lower, 60 per cent, if one considers all chips -- those of consumer electronics, PCs, laptops, autos, etc. This ties in with the fact that foundries in Taiwan, led by TSMC, account for over 70 per cent of the world's microchip supply, according to estimates by Gartner.
India will export anti-malarial drug hydroxychloroquine, high in demand globally, only to foreign governments and not to private companies, as the product is under prohibited or banned category of exports, sources said. Although exports of this medicine is completely banned, India has decided to export this anti-malarial drug in sync with its global commitment to deal with the coronavirus pandemic.
Its association with India is over 70 years old and spans both civil and military aviation. The Douglas DC-3 transport aircraft used by the air force beginning the 1940s and the iconic Boeing 747 aircraft flown by Air India, both had Pratt & Whitney (P&W) engines. The Indian Air Force's present-day, heavy-lift C-17 Globemaster III and the yet-to-be-inducted C-295 planes, too, have P&W power plants.
The personal computer sales during the first quarter ended June 30, 2003 crossed 640,000 units, a growth of 26 per cent over the year-ago period, according to the Manufacturing Association of Information Technology.
According to the Auto Component Manufacturers Association, the apex body of component makers in India, global sourcing of components from the country will double from $2.95 billion to $5.9 billion in 2008-09, and is slated to hit $20 billion in seven years.
Maruti Suzuki India on Tuesday reported a 28 per cent rise in exports at 263,068 units in 2022, its highest ever overseas shipments. The company's previous highest exports was achieved in 2021 with 205,450 units. The highest exported models in 2022 were Dzire, Swift, S-Presso, Baleno and Brezza, the company said in a statement.
According to Puneet Gupta, general secretary of the Ambala Scientific Instruments Manufacturers' Association, the frequent variations in the value of the rupee against the dollar have hit the already squeezing margins. He added that the value of exports of individual units is not large enough to resort to the modern banking instruments like hedging.
Eyeing the inevitable construction boom in India, cement companies in Pakistan are readying for huge exports to the neighbouring nation now.
Industrialists in Nasik have strongly opposed the power regualtor's proposal to have 18-32 hours of load-shedding in the industrial areas and implement five-day week to save electricity in Maharashtra.
The personal computer market is set to grow by 22 per cent in this financial year and may record sales of 6.5 million units.
He was on Wednesday produced before a magistrate in suburban Andheri which remanded him in police custody till October 23 in the same mephedrone seizure case.
The industries in Nashik, which bore the brunt of violence after MNS chief Raj Thackeray's arrest in Mumbai, have suffered losses to the tune of Rs 400 crore. The incidents of stone-pelting, arson and exodus of North Indian workers from the region have hit the local industries hard, Prashant Sathe, general secretary of Nashik Industries Manufacturers' Association (NIMA) said.
The government on Monday banned use of potassium bromate as a food additive following a CSE study that found its presence in bread as causing cancer.
Sales of PC declined by seven per cent to 67,90,000 units from 73,40,000 units in 2007-08, an annual review by the Manufacturers Association for Information Technology said. Sales of desktops declined four per cent at 52.7 lakh units. The net book appeared to be better insulated from the prevailing market sentiment with sales of netbooks exceeding 70 thousand units in fiscal 2008-09.
Better marketing, more recyclers needed, say hardware makers.
India can become the number one automotive manufacturing hub in the world within five years, but auto companies need to enhance safety features to reduce deaths due to road accidents, Union Minister Nitin Gadkari said on Thursday. In his inaugural address at the Auto Expo 2023 here, the minister for road transport and highways asserted that the government's target is to reduce these accidents by 50 per cent before the end of 2024 while asking the auto industry to take suo moto action for road safety as the government doesn't want to make anything mandatory. Gadkari's sentiments were also echoed by Minister of Heavy Industries Mahendra Nath Pandey, who lamented that while India has only 1 per cent of the total overall vehicles, the country accounts for 11 per cent of the total global deaths due to road accidents.
