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TAITRA calls for adaptation to India's business ethos amid Foxconn controversy
The controversy arose following reports suggesting Foxconn's alleged reluctance to hire married women at its facility, which manufactures Apple iPhones in India. Read more
India’s MSME employment surpasses 200 million, spikes 66% in 1 year
Out of the total reported jobs, approximately 45.4 million were held by women employees.Read more
Bharat Forge Class-8 truck orders in North America fall to 14-month low
The defence-to-auto component-supplier Bharat Forge has presence in the class 8 trucks market in North America. Bharat Forge late last month had announced an additional investment of $40 million in Bharat Forge America.Read more
MoD signs 4 bn pact for 3 testing facilities in TN Defence Industrial Corridor
The DTIS provides up to 75% government funding as ‘Grant-in-Aid’, with the remaining 25% funded by the Special Purpose Vehicle (SPVs), comprising Indian private entities and State/Central Governments.Read more
RINL’s Vizag Steel struggling; needs financial aid
India aims to produce 300 million tonnes of steel annually, and increasing Vizag Steel’s output is seen as a vital contribution to this goal.Read more
Indian smart manufacturing firms witness rise in cyber-attacks
One of the key factors contributing to poor security among Indian firms is the continued use of older platforms.Read more
Abhinava Rizel to launch hybrid EV motors for passenger and cargo 3-wheelers
In September 2022, MM Forgings put Rs 158.4 billion for an 88% stake in Abhinava Rizel.Read more
NSK Steering Systems to be renamed Rane Steering Systems after RHL buy out
Despite the change in ownership, the company will maintain its existing technology license and supply agreements with NSK Steering & Control, Inc.Read more
Focus on incremental reforms
According to a recent report of DSP Mutual Fund, the manufacturing sector's contribution to India's GDP is anticipated to rise from 14 per cent in FY24 to 21 per cent by FY34, bolstered by lower logistics costs and improved infrastructure. Read more
Salcomp to invest Rs 18 billion in India operations; triple sales to $3 billion
It is planning to expand the capacities for its new product lines which will include component for handsets.Read more