While the global manufacturing decline is likely to get worse with new orders decreasing, in India new orders show strong growth
The manufacturing PMI has come in above 50 for the 17th month in a row
Zetwerk is presently well capitalised and looking to clock a revenue of $1 billion in revenue for FY23 and is even thinking about going public in the future when market conditions are supportive, said cofounder Amrit Acharya.
Does China plus one put India in a sweet spot? An increase in labour costs, slowdown worries amid zero-Covid policy are some of the reasons that are prompting companies to look for alternative destinations to set up their manufacturing base. Some of the clear winners of China plus one are EU, Mexico and Taiwan because companies have already started investing in some of these nations. Vietnam, for one, has greatly increased its production and exports of smartphones and consumer electronics partly by attracting more foreign direct investment. But can India capitalise on this opportunity and score over its Southeast Asian rivals? Watch this video to find out!
The EV maker is in the final stages of getting an approval from the state govenrment to set up another new plant with a total capacity of around one million electric vehicles per annum by the end of FY23.
Envision and Infosys will co-develop a cloud-based, modular platform that leverages AWS Cloud components of Infosys Cobalt to “digitise key processes that require a high level of human intervention”
Grey market premium of the Kaynes Technology trading massive 40 percent higher or at Rs 235 a share. The IPO has set an issue price at Rs 587 a share
As India embarks on the journey to create these capital-intensive, large carbon-footprint-intensive fabrication facilities, it should strive to make the manufacturing process more efficient and sustainable
The 8,900-square-metre factory will be built on 16,135 square metres of land at MET City in the Jhajjar district of Haryana. It will be nearly four times bigger than Nihon Kohden's existing facility in Gujarat
A monthly purchasing managers index declined to 49.2 from Septembers 50.1 on a 100-point scale where numbers below 50 indicate activity contracting, according to the government statistics bureau and an official industry group.
Speaking at the company's annual Tech Day, Chairman Liu Young-way said Foxconn, the world's biggest contract electronics maker, wants to replicate its level of success in assembling consumer gadgets as it expands into building EVs for auto brands.
This unit, the company's second after Bangalore, will be formally inaugurated on Tuesday.
The venture would aim to win contracts from the US and Chinese customers for research and development, design, and manufacturing of electronics products, according to a letter from Lava to India’s technology ministry seen by Bloomberg News.
“At the end of the day, we have to think in terms of efficiency, gain and losses. China has been a very important player in global supply chains, and for good reasons,” Krishna Srinivasan, IMF Director of the Asia and Pacific Department, told PTI in an interview.
The official added that a number of companies are still trying to prove their eligibility to be included under the PLI scheme but these discussions are likely to end soon.
The B2B manufacturing service marketplace's revenue grew to Rs 4,961 crore in FY22 from Rs 835 crore in the previous year. If the non-cash ESOP expenses were to be omitted, Zetwerk would report an Ebitda profit of Rs 57 crore, it said
Neosky also unveiled its anti-drone machine 'Defender' today.
Praising Prime Minister Narendra Modi, the Minister of State for Defence claimed that his initiative ‘Atmanirbhar Bharat’ turned the country from a major importer of defence equipment to an exporter, saying India earned Rs 38,500 crore in five years by manufacturing and selling equipment and apparatus to foreign countries.
The crucial difference is that while the Purchasing Managers Index is based on expectations of manufacturers and service providers, stock market movement is based on expectations of investors
The comments came after India’s transport minister said earlier in the day that the chipmaker will set up a semiconductor manufacturing plant in the country.
From Rs 88 crore before the production-linked incentive scheme was announced, the drone sector turnover has more than trebled to Rs 319 crore in fiscal 2021-22, much higher than the scheme's target of Rs 200 crore
At 56.2, India's manufacturing PMI for August has come in above 50 for the 14th month in a row
Purchasing managers’ indexes for the euro area’s four largest members all indicated contraction, with shrinking confirmed for the region as a whole after an initial estimate on July 22. In Asia, it was China, South Korea and Taiwan that took the biggest hit.
July PMI reading shows higher manufacturing growth, lower inflation
At 56.4, India's manufacturing PMI for July has come in above 50 for the 13th month in a row