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PLI railway push for local manufacturing of components for Vande Bharat & LHB
The PLI scheme is for a three-year period, with projected incentives of Rs 10-15 billion.Read more
Critical EV components to be localised by 2030
Achieving 100% localisation in India is not feasible due to the scarcity of certain rare earth materials, limited lithium-ion mining, and low levels of electronics manufacturing.Read more
India to receive critical mineral access with Australian FTA; lower emissions
Like Australia, India has signed a trade pact with the four-nation European Free Trade Association (EFTA) and Norway is a key member of that grouping.Read more
Focus on incremental reforms
According to a recent report of DSP Mutual Fund, the manufacturing sector's contribution to India's GDP is anticipated to rise from 14 per cent in FY24 to 21 per cent by FY34, bolstered by lower logistics costs and improved infrastructure. Read more
Waaree Energies to secures contract for 900 MW modules for solar power plant
The project located in Jaisalmer, Rajasthan is secured from Serentica Renewables India. Read more
Altair inks pact to buy Metrics Design Automation Inc.
The DSim, combined with Altair’s silicon debug tools, will deliver superior simulation and debug capabilities in the EDA and semiconductor space.Read more
Railways to revise Rs 310 billion wagon procurement plan after MI contract fail
The wagons - which are used for transporting crucial commodities such coal and iron ore on the rail network - were to be supplied at Rs 3.19-3.63 million per unit depending on the specifications issued by the railways.Read more
Boeing to buy Spirit AeroSystems in $4.7 billion deal
The acquisition is expected to be finalised by mid-2025. Read more
US tariffs on China causing container and space shortages; India scrambles
US tariffs on Chinese goods come into effect from August 1.Read more
How to build India’s global manufacturing capabilities?
The Indian manufacturing sector stands at a critical juncture, with several opportunities arising from global shifts and local initiatives. But to take advantage of this evolving market, Indian manufacturers have to raise their global competitiveness, says Rakesh Rao.Read more