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Innovative technologies in motion control attract new entrants to the market
Although new vendors have not acquired meaningful market share, as the supplier base has not yet consolidated, we expect they will increase their presence, especially in their local markets; China, Japan and Europe. There has been rapid expansion of the supplier base for linear smart conveyance systems, particularly in the Asia Pacific region, comments, Samantha Mou, Research Analyst, Interact Analysis.Read more
L&T expands aerospace focus amid India’s $44 billion space market boom
The first launch of a privately built PSLV is expected in early 2025, with each rocket costing approximately Rs 2 billion.Read more
INOX to set up mini LNG terminal for Island Power Producers in the Bahamas
The contract would include the supply of 10 vacuum insulated storage tanks of 1500m3 capacity and a regasification system. Read more
France’s Exxelia acquires 70% stake in Indian magnetic component maker SVM
With this with strategic investment in SVM, Exxelia expands footprint in India and enhances its magnetics offering for medical and adds busbars to its power electronics passive components portfolio.Read more
MAGIC selected for DPIIT's Startup India Manufacturing Incubator Initiative
This initiative aims to fuel innovation within India's manufacturing sector, creating new opportunities for manufacturing-focused startups.Read more
Amara Raja to launch battery recycling operations in TN by November end
Currently, 83% of the lead in the company’s manufacturing comes from recycled sources.Read more
Sig Sauer to manufacture 73,000 assault rifles by 2025 for the Indian Army
Sig Sauer also plans to increase the proportion of locally manufactured components, integrating more Indian technology and materials into its products.Read more
Hero-owned Tessolve acquires Dream Chip Technologies for Rs 4 billion
This move aligns with India’s Semiconductor Mission launched in late 2022 to bolster the country’s role in this critical industry following the global chip shortages post-COVID-19.Read more
Schaeffler to lay off 4,700 jobs amid challenges in Europe’s auto sector
Overall, the job cuts will affect around 3.1% of Schaeffler's workforce of 120,000, which increased after its merger with electric powertrain specialist Vitesco.Read more
Kataria Industries buys Ratlam Wires' manufacturing unit for Rs 306 million
Kataria Industries specialises in producing low relaxation pre-stressed concrete (LRPC) strands and post-tensioning anchorage systems, primarily used in infrastructure, road, bridge, and power transmission projects.Read more