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Sig Sauer to manufacture 73,000 assault rifles by 2025 for the Indian Army
Sig Sauer also plans to increase the proportion of locally manufactured components, integrating more Indian technology and materials into its products.Read more
Schaeffler to lay off 4,700 jobs amid challenges in Europe’s auto sector
Overall, the job cuts will affect around 3.1% of Schaeffler's workforce of 120,000, which increased after its merger with electric powertrain specialist Vitesco.Read more
L&T to acquire 21% stake in E2E Networks in Rs 13.27 billion deal
E2E Networks specialises in CPU and GPU-based cloud computing platforms, leveraging its relationship with NVIDIA to support large-scale general and AI workloads. Read more
Schneider Electric replaces CEO Peter Herweck amid disagreements
Herweck, who served as CEO for 18 months, will be succeeded by Olivier Blum, currently leading Schneider's Energy Management division.Read more
Karnataka's Kannada labelling mandate stirs concerns among export manufacturers
An anonymous FMCG executive told the source that industry standards usually support a uniform packaging design across markets. Read more
Transformer steel shortage threatens India’s energy ambitions: GTRI
CRGO steel, essential for reducing energy loss in transformer cores, plays a pivotal role in the country’s power distribution network. Read more
Bharat Forge to acquire AAM India Manufacturing for Rs 5.44 billion
The acquisition is subject to approval from the Competition Commission of India (CCI) and other customary closing conditions. Read more
BYD shifts to import-only strategy in India amid FDI challenges
BYD currently imports three models from China and believes this strategy will sustain its operations in the near term.Read more
India advances military and space ambitions with major orders in September
A key highlight was the Defence Acquisition Council (DAC) approving 10 capital acquisition proposals worth Rs 145 billion, including the procurement of Future-Ready Combat Vehicles (FRCVs) to enhance the Army's mobility and firepower.Read more
SAIL partners with BHP to decarbonize steelmaking in India
The partnership will focus on testing alternative reductants, such as hydrogen and biochar, to reduce greenhouse gas emissions in SAIL’s integrated steel plants. Read more