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Why MSMEs want a review of Section 43B(h)?
Section 43B(h) of Income Tax Act - mandating payment to micro and small enterprises (MSEs) within 45 days of supply - was welcomed when announced in Budget 2023-24. However, MSEs are now facing a peculiar problem of losing orders from large firms because of it. Rakesh Rao explores more on this issue and the road ahead.Read more
Siemens to invest over Rs.10 billion to expand operations in India
The company aims to meet the growing demand in critical sectors such as industry, infrastructure, and power distribution by expanding two of its factories. This strategic move includes the establishment of a state-of-the-art metro train manufacturing facility in Aurangabad and the expansion of the Smart Infrastructure Operations in GoaRead more
Global semiconductors battle deepens between EU & US; $81 billion subsidy surge
The surge in semiconductor spending stems from mounting concerns over China's rapid technological advancements, particularly in key electronic sectors. Read more
Sony & Siemens to enable immersive engineering with new content creation system
Sony Corporation improved design productivity by 25% with implementation of Siemens’ NX for product engineering and design.Read more
Siemens Limited declares CAPEX of over Rs 10 billion
The company's Smart Infrastructure Business is set to boost its factory presence in Goa with an investment of Rs 3.33 billion, marking the largest investment by Siemens in the state. Read more
Wipro Hydraulics signs agreement to acquire Novacap company Mailhot Industries
Wipro Hydraulics, a division of Wipro Infrastructure Engineering, has inked a deal to acquire Mailhot Industries, a Novacap company based in Quebec, Canada, known for its expertise in hydraulic cylinder manufacturing, particularly in refuse trucks and snow removal equipment. Read more
Zen Mobility unveils game-changing manufacturing hub for Zen Micro Pods
Zen Mobility unveiled a production facility for their flagship electric cars, the Zen Micro Pods, designed for city commuters.Read more
Igus to invest in 247 new motion plastics products in 2024
The German firm, which recorded Euro 1.136 billion turnover in 2023, increased its customer base by 6.7 per cent.Read more
As fine as a human hair: New igus micro-gears with 0.2 module
The micro gears' delicate teeth make them suitable for very precise applications in small installation spaces.Read more
Private companies increasingly engage in defense manufacturing
The Indian government recently initiated the development of two defence industrial corridors, located in Uttar Pradesh and Tamil NaduRead more