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Indian Govt approves 75 auto component makers for incentives under PLI Scheme
Ninety two auto component manufacturers had applied for the scheme, which has sanctioned outlay of Rs 26,000 crores for the automotive sectorRead more
SCHUNK offers magnetic switches for gripping systems in explosive atmospheres
SCHUNK is now offering a freely programmable and universally applicable magnetic switch with ATEX certification for device group II, category 2 for monitoring gripping systems in potentially explosive areas.Read more
Schwing Stetter signs MoU with HPCL & Gulf Oil for lubricants
Schwing Stetter India, one of India’s largest manufacturers of concreting and construction equipment, has joined hands with Gulf Oil and HPCL to launch a range of genuine oils for construction equipment. Read more
Motherson and Valeo to jointly create auto interior of the future
Samvardhana Motherson Automotive Systems Group BV (SMRP BV), a Motherson company, and Valeo have signed a Memorandum of Understanding (MOU) which aims to create the automotive vehicle interior of the future through the integration of lighting systems with advanced surface finishes. Read 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
Balu Forge buys Mercedes Benz’s German precision machining unit
Balu Forge Industries Ltd (BFIL) - the Mumbai-based manufacturer of fully finished and semi-finished forged crankshafts and other forged components for automotive industry - has acquired the Precision Machining unit of the Mercedes Benz Truck Factory in Mannheim (Germany). Read more
Geared motors market on a smooth ride
Machinery manufacturers are the main consumers of geared products. Conveyor manufacturers, who were the largest market for geared products in 2020, are expected to see strong growth in the coming years driven mainly by the logistics and factory automation sectors, says Shirly Zhu.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
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
WardWizard to invest Rs 500 cr in Gujarat for setting up EV ancillary cluster
WardWizard Innovations and Mobility Ltd – one of the leading manufacturers of electric two-wheelers brand ‘Joy e-bike’ has signed a Memorandum of Understanding (MOU) with the Gujarat government to invest Rs 500 crore. Read more
