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Findability Sciences’ new solution helps Indian firms to become AI-powered
The new Findability.Inside is a tailor-made solution that integrates AI into the existing enterprise tech architecture to increase efficiency and for smarter resultsRead more
Budget 2022 - Govt's Rs 7.5 lakh cr capex to augment machine tools demand: V Anbu
Budget 2022 is a booster shot for Indian manufacturing and ease of doing business, says V Anbu, Director General & CEO, IMTMA, who reflects on how the budget fares for the Indian machine tool industry.Read more
Business Environment Set for Growth
The share of manufacturing in India's GVA (Gross Value Added) has seen a gradual fall in the last one decade despite a surge in private consumption demandRead more
L&T and HydrogenPro to produce hydrogen electrolysers in India
Larsen & Toubro (L&T) has entered a Memorandum of Understanding (MoU) with HydrogenPro AS, a Norway-based leading electrolyser technology and manufacturing company for partnership to tap the emerging Green Hydrogen market.Read more
Dana's India operations earn Greentech Foundation Award
At the recent 2021 Greentech Foundation Awards ceremony in Chennai, Dana earned the award for its initiatives toward environmental protection.Read more
Covestro expands engineering plastics capacity at Noida plant
Covestro recently inaugurated its new production lines for polycarbonate compounding at their Greater Noida Plant in India. Read more
Honeywell partners Navin Fluorine to make hydrofluoro olefins in India
Honeywell and Navin Fluorine International Ltd (NFIL), part of the Padmanabh Mafatlal Group, have formed a partnership to manufacture Honeywell’s proprietary Solstice range of hydrofluoro olefins (HFO) in India. Production is scheduled to commence by Q2-2022 at NFIL’s manufacturing facility in Gujarat.Read more
Yanmar starts production at new industrial engine plant in India
Yanmar Engine Manufacturing India Pvt Ltd (YEMI) - a part of Japanese firm Yanmar - has commenced production at its new state of the art industrial engine manufacturing plant located at the Origins Industrial Estate in Tamil Nadu.Read more
India records 54% jump in engineering goods exports in 9M 2021-22
Thanks to the Zero duty Export Promotion Capital Goods (EPCG) scheme, exports of India’s engineering goods jumped to $ 81.8 billion during April-December 2021 (Provisional) as compared to $ 52.9 billion during same period in the previous year (2020), registering a stupendous growth of 54%, said the Union Ministry of Commerce & Industry in a press release. Engineering goods sector constitutes the largest, more than 27%, share of India’s total exports basket during the period.Read 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