In the last month, at least eight prominent firms have announced plans for joint ventures or wholly owned subsidiaries in India.
From zero presence in the Indian power equipment market a couple of years ago, Chinese companies are likely to supply as much as 30 per cent of the equipment required to meet the Eleventh Plan capacity addition target of 78,000 Mw.Chinese companies are also bagging large orders from private power companies in India, despite the perception of "suspect quality".
The Tata-Fiat joint venture is looking at catering to the global demand for engines through its Ranjangaon plant.
The Ficci survey, which covered 276 units, also revealed that those expecting a fall in their production decreased to 16 per cent in the second quarter from 26 per cent in the first quarter.
'The vision now is not just to look at national highways as a number of kilometres, but quality as well.'
Hyundai Motor India expects SUV sales to account for 65 per cent of its overall volumes in 2024, while it gears up to enter the EV segment early next year, aiming to garner 20 per cent of its total sales by 2030, its COO Tarun Garg said on Tuesday. The automaker, which got around 60 per cent of its overall volumes from sports utility vehicle (SUV) sales last year, plans to invest Rs 7,000 crore on its second plant at Talegaon, according to Maharashtra Deputy Chief Minister Devendra Fadnavis. The company officials however declined to comment on the matter.
'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession.
Hyundai Motor India on Thursday said it will invest Rs 20,000 crore in a phased manner in Tamil Nadu over the next ten years to make further inroads into electric vehicles and modernisation of vehicle platforms. The automaker will invest in phases starting in 2023 till 2032. "Hyundai has been one of the largest manufacturers and consistent investors in Tamil Nadu.
Leading wind power company, Suzlon Energy Ltd on Tuesday said it will invest Rs 1,500 crore (Rs 15 billion) to set up manufacturing facilities in India, in order to increase export market share and demand.\n
Finance Minister Arun Jaitley on Friday hinted at not raising tax rates and providing incentives for manufacturing.
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Denim products are likely to get costlier as manufacturers in country's largest denim producing state of Gujarat have hiked the fabric prices by Rs 5-6 per metre amid soaring cotton and polyester prices, industry sources said on Monday.
It would be a trial on children aged 2-18 years for which Bharath Biotech may get the licence in the third quarter of this year.
Mumbai-based pharma major Lupin will invest over Rs 200 crore (Rs 2 billion) this year to create additional manufacturing capacities.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
The Cabinet on Wednesday approved the production-linked incentive (PLI) scheme worth Rs 10,683 crore for textiles sector with an aim to boost domestic manufacturing and exports. The decision was taken in a meeting which was chaired by Prime Minister Narendra Modi. The Cabinet "has approved the PLI scheme for textiles for MMF (man-made fibre) apparel, MMF fabrics and ten segments/ products of technical textiles with a budgetary outlay of Rs 10,683 crore," Textiles Minister Piyush Goyal told reporters.
Tata Steel UK is reformatting its operations in Port Talbot by investing 1.25 billion in an electric arc furnace facility with the UK government contributing 500 million. The project will take around three years to complete, if all the regulatory clearances come through. The facility will use scrap and be classified as green since it will utilise renewable power and cut carbon emissions considerably.
One of the Nano vendors lays off 75 workers, others on wait-and-watch mode.
The dairy major is transforming into a full-fledged F&B and fast moving consumer goods (FMCG) player, reports Vinay Umarji.
India is working on new technologies such as the small modular reactors that can be factory-built and help make clean energy transition, Science and Technology Minister Jitendra Singh said in New Delhi.
Goods and Services Tax would usher in an unified indirect tax regime.
"The experience was incredibly enriching, significantly bolstering my confidence in our country's indigenous capabilities, and leaving me with a renewed sense of pride and optimism about our national potential," he said.
Rs 35,000 crore investment to increase capacity by 75%.
Is it is necessary to play divisive politics to succeed in the next general elections? asks Dr Sudhir Bisht.
At a time when consumers increasingly embrace green mobility solutions, it is not electric cars but hybrids that are taking the lead, as automotive sales data indicate. Since January, 64,097 electric cars have been sold compared to 266,465 hybrids, according to data from the ministry of road transport and highways' Vahan dashboard. Hybrid car sales have surged from 4.42 per cent of the 4.1 million cars sold in calendar year 2022 to 7.2 per cent this year.
He voiced concern that confusion, complacency and inconsistency in public health measures and their application are driving transmission and costing lives. Cautioning that the disease is not flu, he said young, healthy people have died from the coronavirus.
Cement manufacturers' show during the June 2023-ended quarter (Q1FY24) has indicated an intensified slugfest for market share. For instance, Dalmia Bharat (Cement) said it has lost market share in eastern India owing to lack of price discipline. Industry analysts also said that the seasonal weakness in cement prices for Q1 is showing up earlier than usual.
The National Company Law Appellate Tribunal has dismissed an operational creditor's petition to initiate insolvency proceedings against Wipro Ltd. A two-member Chennai bench of the appellate tribunal held earlier that there was a pre-existing dispute over the payment between Wipro and the petitioner and observed that the Insolvency and Bankruptcy Code was not framed for being a "mere recovery legislation for creditors". The National Company Law Appellate Tribunal (NCLAT) has upheld the order of the NCLT.
Eyeing the projected 15 per cent growth in the luxury car market segment, DailmerChrysler India Pvt Ltd, makers of Mercedes-Benz cars, has decided to set up a new plant in Pune to enhance its manufacturing capacity.
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
Though there is no official word, the sources said the government is not ready to give in to the indemnity demands of the US drug manufacturers against liabilities in case of adverse effects.
The synergised demonstration of indigenous defence capabilities during 'Bharat Shakti' is a "testimony to its commitment towards modernisation through indigenisation," the sources said.
At a time when consumers increasingly embrace green mobility solutions, it is not electric cars but hybrids that are taking the lead, as automotive sales data indicate. Since January, 64,097 electric cars have been sold compared to 266,465 hybrids, according to data from the Ministry of Road Transport and Highways' Vahan dashboard. Hybrid car sales have surged from 4.42 per cent of the 4.1 million cars sold in calendar year 2022 to 7.2 per cent this year.
'We will see a lot of investments from the private sector.' 'As long as we are not impacted by some global events, I think we will be in a strong place.'
'What happens in the real estate market is that once the prices go up it goes on to stay at that level.' 'It might not increase and at the same time the prices will not come down too.'
US auto major Ford Motor Co will shut its two manufacturing plants in India and will sell only imported vehicles in the country as part of a restructuring exercise, according to people aware of the development. The company, which invested about USD 2.5 billion at its Chennai (Tamil Nadu) and Sanand (Gujarat) plants, will stop selling vehicles such as the EcoSport, Figo and Aspire which are produced from these plants. Going ahead, it would only sell imported vehicles like Mustang in the country.
The company has set an affordable ceiling price of USD 3 (around Rs 225) per dose, it added.
The government is likely to extend fiscal incentives for production of toys, bicycles and leather and footwear in the forthcoming budget as it looks to expand production linked incentive (PLI) scheme to cover more high-employment potential sectors, sources said. The government has already rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, pharma, textiles, food products, high efficiency solar PV modules, advance chemistry cell and speciality steel. The scheme aims to make domestic manufacturing globally competitive and create global champions in manufacturing, and it is yielding solid results, sources said.
