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Budget 2022 announces additional credit of Rs 2 trn for MSMEs

Budget 2022 announces additional credit of Rs 2 trn for MSMEs Credit will be available through revamped Credit Guarantee Trust for Micro and Small Enterprises Scheme (CGTMSE). The government will roll out “Raising and Accelerating MSME Performance” (RAMP) programme with outlay of Rs 60 billionRead more

Budget 2022 - Customs duties rejigged to promote Make in India & exports

Concessional rates on capital goods to be gradually phased out and attract a moderate tariff of 7.5%. More than 350 entries to be phased out from customs duty exemption to promote Make in India and Aatmanirbhar Bharat. Graded duty rate structure to boost domestic electronics manufacturingRead more

Budget 2022 allocates Rs 195 bn PLI incentive for solar module production

With focus on circular economy, Budget 2022 tables proposal to co-fire 5-7% biomass pellets in thermal power plants, with expected CO2 savings of 38 mmt. It also announced four pilot projects for coal gasification and conversion of coal into chemicals.Read more

Budget 2022 - Economic Survey: Industrial sector to expand 11.8% in 2021-22

According to the Survey, investment, as measured by Gross Fixed Capital Formation (GFCF) is expected to see strong growth of 15% in 2021-22 and achieve full recovery of pre-pandemic level.Read more

FPT Industrial showcases promising products at CES 2022

What do future mobility and industrial transportation mean? And what changes will they bring to the daily lives of people and businesses? FPT Industrial showed a lot of promising products in this matter, as it joined the world’s most innovative companies at CES 2022 - held from January 5-8, 2022, at the Las Vegas Convention Center, USARead more

Igus invites nominations for ROIBOT 2022 award

Through ROIBOT 2022, igus is looking for exciting applications with cost-effective robotics. The award for automation solutions with a fast return on investment is entering the second round. The deadline for entries is 30 April 2022.Read more

Budget 2022 should build confidence in new manufacturing firms

Government has reduced tax rate for newly set-up manufacturing company to an effective rate of 17.16%. However, there are certain nuances which require clarifications. Maulik Doshi highlights on budget expectations for new manufacturing companies availing concessional tax rates.Read more

Budget 2022 - IMTMA: Cohesive efforts are need to resuscitate growth

Budget 2022 should provide a higher depreciation of 25% on procurement of new indigenous capital goods besides mandatory registration under TReDS for all companies with a turnover beyond Rs 250 croresRead more

HANNOVER MESSE 2022 postponed to beginning of June

Due to the current situation surrounding Covid, Deutsche Messe AG will stage the world’s leading trade show for industrial technology from 30 May to 2 June. Read more

Budget 2022 - ACMA: Ensure uniform 18% GST on all auto components

Automotive Component Manufacturers Association (ACMA) has recommended enhancement of RoDEPT rates and measures to encourage capital investment in auto component industryRead more

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