The government is preparing to further open up the new energy vehicle battery market to foreign investment, Ministry spokesman Sun Jiwen told a regular briefing in Beijing.
The decision was announced as part of a series of restructuring actions from the Detroit automaker on Thursday, and marks a significant blow to India's strategy of encouraging domestic manufacturing.
"In rupee terms, overall for India and Europe would be about Rs 2,500 crore, almost split equally between India and Europe," Apollo Tyres Chief Financial Officer Gaurav Kumar said in an analyst call. For the European operations, the company has earmarked a capex of about 180 million euro for the current fiscal.
"As we are moving fast towards industrial revolution, the MSMEs are playing major role in making our nation a manufacturing and technology hub," Fadnavis said after laying the foundation stone of the new building of an MSME technology centre at the Institute of Design of Electrical Measuring Instrument here.
India is in the advanced stages of formulating a policy to encourage domestic defence manufacturing and cut import of combat planes, ships and submarines, Union Minister Arun Jaitley said.
In February, Foreign Portfolio Investors (FPIs) had made a net investment of Rs 15,862 crore in equity and debt markets. Prior to that, FPIs had pulled out more than Rs 80,000 crore between October 2016 to January 2017.
Smartron, a Hyderabad-based start-up today celebrated its first anniversary of the public launch and introduction of tbook, tphone, and ttab devices and tronxIoT platform.
"Urea production may be less by 2,00,000 tonnes in 2016-17. Import parity price (IPP) has come down, making domestic production less competitive," a senior Fertiliser Ministry official told PTI.
The company, which had launched the ONN brand of innerwear targeting younger people few years ago, is now focussing on the Rs 2,400 crore active wear market offering a casual and alternative line of clothing.
The yearly SBI Composite Index, one of leading indicator for manufacturing activity in the Indian economy, bounced back to above 50-mark level to 50.3 after 3-months of decline.
The CEO of TFS Corp (TFC), now rebranded itself to 'Quintis', Frank Wilson, said he along with the cricket legend Adam Gilchrist, a shareholder and brand ambassador of the company, would be visiting India to meet potential business partners in May this year.
The industry is still sensing a hint of uncertainty on the economic growth front even though the industrial output rose 2.7 per cent in January and urged the government to pursue reforms to stimulate investments.
Beijing's "Made in China 2025" plan calls for a dramatic increase in domestically-made products in 10 sectors - from robotics to biopharmaceuticals - that the government hopes will accelerate an industrial upgrade as economic growth slows.
The maker of Peugeot and Citroen cars vowed to return Opel and its British Vauxhall brand to profit, with an operating margin of 2 percent within three years and 6 percent by 2026 underpinned by with 1.7 billion euros in joint cost savings.
"In water heater business, we grew by 15-16 percent in FY16-17. Though the water heater business was dull due to demonetisation, we grew by 15-16 percent. This year our plan is to grow at same 15-16 percent", Venus Home Appliances, Director, I Ram Kumar told PTI.
The third quarter gross domestic product (GDP) reflects growth in various sectors like the agriculture and manufacturing. This number will continue its upward trend, said the Finance Minister Arun Jaitley.
The stainless steel maker signed a licence agreement with Defence Research and Development Organisation (DRDO) to help manufacture high nitrogen steel
Cement was the most telling example, with output declining 13.3 percent from a fall of 8.7 percent in December as the construction industry was badly affected by demonetisation.
Struggling with customers unable to pay on time and plummeting sales, Indian small-business owner Ravi Jain fears the government's crackdown on cash will have a much larger impact than predicted by top policymakers.
The Commerce Department said on Monday that non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, dropped 0.4 percent after an upwardly revised 1.1 percent increase in December.
The CLMV nations (Cambodia, Laos, Myanmar and Vietnam) enjoy duty benefits under the Generalised Scheme of Preferences (GSPs) of developed countries like the US and EU and this can be an attractive incentive for domestic units to set up manufacturing facilities there.
Caterpillar Inc, United Technologies Corp, Dana Inc, 3M Co and General Electric Co, are offshoring work to Mexico, China, India and other countries, according to a Reuters review of US Labor Department records.
"The lab brings together Cyient's expertise in service design, delivery, and operational excellence with ANSYS's market-leading engineering simulation solutions and services to drive the development of innovative proof-of-concepts for Cyient and its clients," Cyient said in a statement.
On the issue of job scarcity, Arvind Subramanian said that â€œthe problem in India is not creating jobs.â€ The challenge is finding high productive jobs and a need to raise the formal sector in country from current 9-10 percent levels.