India plans $5 billion incentive scheme to boost local electronics manufacturing
New Delhi: India is set to introduce an incentive program worth up to $5 billion to encourage domestic manufacturing of components for gadgets such as mobile phones and laptops, media reports said.
Ford to cut 4,000 European jobs, cites weak EV demand and competition
Berlin: Ford announced plans to cut around 14% of its European workforce, equating to 4,000 jobs, citing weak electric vehicle (EV) demand, limited government support, and competition from subsidized Chinese automakers, media reports said.
India's automobile industry registers robust growth in October 2024: SIAM report
New Delhi: India’s automotive sector demonstrated resilient growth in October 2024, with total vehicle production reaching 28.83 lakh units, a 9.9% increase from the previous year, according to the latest SIAM report.
India’s industrial output rebounds with 3.1% growth in September, driven by manufacturing
New Delhi: India's industrial output increased by 3.1% in September 2024, primarily due to a recovery in manufacturing activity, according to data from the Ministry of Statistics and Programme Implementation.
Odisha emerges as India's steel hub, contributing 25% of national production
Bhubaneswar: Odisha has emerged as the country's steel manufacturing hub with Odisha accounting for 25% of the India’s total steel production, according to MD and CEO of mjunction services Ltd Vinaya Varma.
India must do more to boost manufacturing and job creation: Raghuram Rajan
Mumbai: India has made significant progress in infrastructure over the past decade, but more needs to be done in other sectors to enhance local manufacturing and job creation, former RBI Governor Raghuram Rajan said on Thursday.
DRDO approves 7 new projects to boost India's defence production
New Delhi: The Defence Research & Development Organisation (DRDO) has made a big move towards bolstering India's self-reliance in the defence sector by approving seven new projects under the Technology Development Fund (TDF) scheme, media reported.
India's manufacturing growth slowest in 3 months due to intense heat wave in May
New Delhi: India's manufacturing sector experienced a slowdown in May, reaching a three-month low, due to an intense heatwave that disrupted production volumes, resulting in a more moderate increase in new orders and output. Despite this, the sector continued to operate in expansionary territory during May, according to a survey.
India must boost manufacturing to increase share in global value chains: FM Sitharaman
New Delhi: India should intensify manufacturing activities to increase its share in global value chains and attain self-reliance aided by government policies, Finance Minister Nirmala Sitharaman said on Friday.
India's defence sector holds prospect of USD 138 billion from FY24 to FY32
New Delhi: Amid increasing demand for defence equipment, technologies, and services, India's defence sector holds a substantial ordering prospect of nearly USD 138 billion from FY24 to FY32 for companies involved in defence production and technology advancement, according to a report titled 'India Defence' by Nomura.
RBI launches survey of manufacturing companies
Mumbai: The Reserve Bank has started the latest cycle of its quarterly survey on order books, inventories, and capacity utilization of manufacturing firms, which serves as a crucial component for shaping monetary policy.
Manufacturing will be India's focus in next 5 yrs: Ashwini Vaishnaw
New Delhi: Manufacturing will be India’s focus in the next five years owing to huge employment potential, IT Minister Ashwini Vaishnaw said on Thursday.
Titagarh Rail Systems Q3FY24 PAT grows 91% YoY to Rs 75.03 cr
Kolkata: Titagarh Rail Systems Ltd, formerly known as Titagarh Wagons Ltd, reported a standalone net profit of Rs 75.03 crores in the quarter ending December 31, 2023, an increase of 91% over Rs 39.22 crore in the same period of the last financial year.
PLI Schemes witness over Rs 1.03 lakh crore of investment till Nov 2023
New Delhi: Production Linked Incentive (PLI) Schemes witnessed over Rs. 1.03 lakh crore of investment till November 2023, leading to production/ sales of Rs. 8.61 lakh crore and direct and indirect employment generation of over 6.78 lakhs, according to the Commerce and Industry ministry.
India's factory output grows 5.7 pc in July, exceeds ICRA expectation
New Delhi: India’s factory or industrial output grew 5.7% year-on-year (YoY) in July 2023 riding on the mining and electricity sectors.