After registering a net profit of Rs 25.1 crore in Q3FY25 and consolidated revenues growing by 7 per cent on a like-for-like basis, Siddharth Mittal, chief executive officer (CEO) and managing director, Biocon, told Sohini Das/Business Standard in a virtual interaction that local manufacturing in the US is a trade off between cost and qualifying to do business there.
While Elon Musk's political influence continues to grow, his business empire is witnessing headwinds.
India's fair trade regulator Competition Commission of India (CCI) has launched a formal investigation against India's biggest paints firm, Asian Paints, for alleged abuse of its dominant position in the organised decorative paints market, following a complaint by Aditya Birla group's Grasim Industries' Birla Opus Paints division.
Electronics major Samsung India will invest $100 million in four years at its new manufacturing facility at Sriperumbudur near Chennai, a top company official said.
A court in Mumbai has issued a non-bailable warrant against diamantaire Mehul Choksi in the Canara Bank-led consortium loan fraud case involving about Rs 55 crore. Choksi, a prime accused in the multi-million dollar Punjab National Bank (PNB) 'fraud', was arrested in Belgium on April 12 following an extradition request by Indian probe agencies.
The sealing of the mega deal came three weeks after the Cabinet Committee on Security (CCS) headed by Prime Minister Narendra Modi cleared the procurement.
The world's largest tyre manufacturer, Bridgestone Corporation, Japan, through its wholly owned subsidiary Bridgestone India
'We will see whether there were losses or not, and whether the war aims were achieved. When the truth comes out, some may well be surprised,' says Dassault CEO.
The company is looking to ramp up its production.
India dismissed claims on Pakistan social media about 'Operation Sindoor', saying the neighbouring country has unleashed a 'full-blown disinformation offensive' with 'lies' and digital theatrics to control the narrative.
In spite of straddling the market with multiple competitively priced models, GM was pushed to the fringes by the rivals from Japan and Korea.
Anil Ambani's Reliance Power will set up a joint venture with Shanghai Electric Company to manufacture thermal power equipment in India. The Chinese company will also supply $10-billion (Rs 44,000-crore) worth of boiler-turbine-generator (BTG) packages for Reliance Power's proposed coal-based domestic power plants.
WHO has urged people at risk to keep up with their vaccinations with boosters.
Employees were told to return to work from Monday onwards for a fresh start for improved production.
Reliance Industries Limited has been granted approval to set up a battery manufacturing facility for up to 10 GW under the Rs 3,620 crore-Production Linked Incentives (PLI) scheme for ACC Battery Storage, the government said on Wednesday. The Ministry of Heavy Industries had received bids from seven bidders under global tender for Production Linked Incentives (PLI) scheme for 10 GWh Advanced Chemistry Cell (ACC) manufacturing, with a maximum budgetary outlay of Rs 3,620 crore, announced on January 24, 2024.
The engine plant will have an annual capacity of 1.6-lakh engines which could be expanded to 3-lakh engines per annum, the company said. The engine and car manufacturing plant will employ 1,400 people.
The US is expected to push for sweeping changes in India's policies, ranging from tariff reductions to regulatory overhauls, that could benefit American firms and exporters, under the proposed bilateral trade agreement with India, think tank GTRI said on Sunday.
President Droupadi Murmu's address to the nation on the eve of the 79th Independence Day.
The aircraft crashed into the Milestone School and College campus in Dhaka's Uttara area.
Gujarat Cooperative Milk Marketing Federation (GCMMF), marketing its dairy products under brand 'Amul', today said it would begin manufacturing few of its dairy products in the US over the next 6-8 months.
These are 'hidden champions' of strategic research and innovation. They are worthy of emulation within Indian industry, and maybe even a Padma!, notes R Gopalakrishnan.
President Droupadi Murmu addressed the nation on the eve of Independence Day, praising the response to terrorism, highlighting achievements in defense self-reliance, and emphasizing unity and progress.
Reliance Industries (RIL) has reset its battery pack production timeline, shifting it from 2023 earlier to 2024, details shared in the oil-to-telecom conglomerate's latest annual report suggest. In the FY23 annual report released on Sunday, the company has listed the start of battery pack production in 2024. A year ago, at the company's annual general meeting (AGM), Mukesh Ambani, chairman and managing director of RIL, had said, "We aim to start production of battery packs by 2023 and scale up to a fully integrated 5 GWh annual cell-to-pack manufacturing facility by 2024."
One of China's leading household appliance suppliers is mapping out a new blueprint for foreign direct investment in India, a senior company official has said.
Post-election capital expenditure (capex) has been weak at 2 per cent year-on-year (Y-o-Y) in M9FY25. The FY25 revised estimates (RE) indicate 7 per cent growth in FY25 against FY24, implying 21 per cent Y-o-Y growth in Q4FY25 government capex.
The government on Friday approved an electric-vehicle policy, under which duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of $500 million, a move aimed at attracting major global players like US-based Tesla. According to an official statement, the companies setting up manufacturing facilities for e-vehicles will be allowed to import a limited number of cars at lower customs duty. The policy seeks to promote India as a manufacturing destination for EVs and attract investment from reputed global EV manufacturers, it added.
GE India on Friday said it would invest nearly Rs 1,100 crore (USD 200 million) to set up a new manufacturing facility in Pune for developing products for the energy sector.
India's indigenously developed 'Akashteer' air defense system performed exceedingly well during 'Operation Sindoor,' according to Defence Research and Development Organisation (DRDO) chief Samir V Kamat. The fully automated system, deployed against terror sites in Pakistan and Pakistan-occupied Kashmir, integrates various radar systems, sensors, and communication technologies. Kamat expressed confidence in the system's success drawing international interest, highlighting India's progress toward self-reliance in the defense sector. He also addressed the future of warfare, emphasizing the need for a blend of traditional and emerging technologies, and outlined the development timeline for the indigenous 5.5-generation stealth fighter aircraft, the Advanced Medium Combat Aircraft (AMCA).
The plant and associated facilities focus on manufacturing or packaging Amoxicilin-based products, which include semi-synthetic penicillin
Aiming to corner a 10 per cent market share by 2009, Noida-based low cost mobile set manufacturer Spice Ltd on Thursday said it was in the process of setting up its own mobile manufacturing facility at Baddi in Himachal Pradesh.
Elon Musk's Starlink has got licence for satcom services in India, according to sources.
SG Corporate Mobility - the parent company of the Indian two-wheeler brand LML - has taken auto major Bajaj Auto to high court, claiming that it was illegally using its 'Freedom' trademark in newly-launched Bajaj Freedom CNG motorbikes, the company said in a statement on Thursday. SG Corporate Mobility claims that the term 'Freedom' has a deep-rooted association dating back to 2002 when the company had introduced its 'LML Freedom' motorcycle. The trademark 'Freedom,' along with the 'LML' brand, was officially assigned to SG Corporate Mobility in 2021 after being transferred by LML.
Hero MotoCorp is expecting its electric vehicle (EV) business to break even once it reaches monthly sales volumes of 25,000 to 30,000 units, which is a couple of years away, Chief Financial Officer (CFO) Vivek Anand said on Tuesday. "This year, in 2024-25 (FY25), if I really look at my EV performance, our volumes have grown by 200 per cent," Anand told analysts during the company's post-results conference call.
The Indian Air Force conducted precision strikes on terror hideouts in Pakistan, targeting a Jaish-e-Mohammad communication network housed in a primary health centre in Tehra Kalan village. The communication setup was essential for planning and coordinating activities with infiltrated terrorists in Jammu and Kashmir. The strikes aim to dismantle the communication network and hinder the terrorists' ability to operate.
As order books gain from India's increased capital outlay, some large capital goods and engineering companies are together spending over Rs 11,500 crore in creating new facilities, data shows. Nine engineering and capital goods companies, where data was available, including Siemens, Larsen & Tourbo (L&T) and KEC International, have a combined capital expenditure (capex) of about Rs 11,500 crore or more. Others such as ABB India and Thermax Global are also adding capacities.
South Korea's Samsung Electronics is mulling setting up a Notebook PC manufacturing facility in India and plans to make further investment in expanding its research and development (R&D) facility.
Risks emerging from the US have left automotive investors worried. US President Donald Trump has announced 25 per cent tariffs on automotive imports, while global electric carmaker Tesla has taken its first steps towards entering India. While these developments are sentimentally negative for related stocks, it may be too early to conclude the eventual impact, analysts said.
