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OPC UA: The language of Industry 4.0
Industry 4.0, which links the IT (Information Technology) and automation systems, requires many machines and devices to communicate with each other for seamless operation. OPC UA, an information architecture designed to enable interoperability between industrial components, is considered to be a perfect tool for building interoperable Industry 4.0 systems, says Rakesh Rao. Read more
Taplow Group S.A. hosts talk on ‘Unlocking the power of AI in manufacturing’
The event highlighted the role of leadership in AI adoption, emphasising a top-down commitment combined with bottom-up innovation is vital to foster a culture of continuous learning and advancement. Read more
49,000 MSMEs shut down in 10 years rendering 300,000 people jobless
According to the Ministry of Labour and Employment, the estimated unemployment rate for people aged 15 years and above was 4.2% in 2020-21, 4.1% in 2021-22, and 3.2% in 2022-23.Read more
Government to develop parks and dormitories near manufacturing clusters
Twelve industrial parks under the National Industrial Corridor Development Programme will also be sanctioned, with significant progress already in Uttar Pradesh and Tamil Nadu. Read more
Will Budget 2024-25 benefit the manufacturing industry?
The manufacturing sector is crucial for job creation, export growth, and overall economic development. Read more
Seven key announcements for MSMEs in Budget 2024
These budgetary measures are pivotal in ensuring the long-term prosperity of MSMEs in India.Read more
Union Budget bolsters the manufacturing industry and MSMEs
MSMEs contributed 35.4% to all-India manufacturing output in FY 22, and MSME-made products accounted for 45.7% of exports in FY 24.Read more
Budget 2024-25: Analysis of Budget impact on MSMEs
The budget places special attention on MSMEs and labour-intensive manufacturing, introducing a new assessment model for MSME credit by public sector banks based on digital footprints rather than only on assets and turnover criteria. Read more
Budget 24-25: Customs duty reforms will help manufacturing and promote exports
New customs duty rates are proposed for commodities from lifesaving medicines to rare earth minerals.Read more
Budget 24-25: 12 ‘plug & play’ industrial parks to be created under NICDP
The Union Budget 2024-25 proposes to revamp ShramSuvidha and Samadhan portals to enhance ease of compliance for industry and trade, with intent to strengthen them and step up their implementation for expediting our journey towards the goal of Viksit Bharat. Read more