Manufacturing

Investment: $156.08bn needed for 300MTPA India’s metal industry is set to witness a 6% Y-o-Y Demand Growth in FY 2020, and an investment of US$156.08 billion is needed to have a 300 million tonne per annum capacity by 2030. Capacity...

Extend 2015-2020 Foreign Trade Policy The Federation of Indian Export Organizations (FIEO) has raised points with the Commerce and Industry Minister Piyush Goyal on 27 Mar 2020 through videoconference. These were: Home Ministry: 1.     All manufacturing companies in exports should...

Sharp downturn in manufacturing Depending on the duration of the lockdowns that have been imposed, ICRA expects Indian GDP growth to range from 4.7% to 5.2% in FY2021 (4.7%E for FY2020). Projecting this on 25 Mar 2020, ICRA said it...

Threat of over dependence on China, warns Sridhar India needs to be a World leader for not just Generic formulations but APIs (active pharmaceutical ingredients) too, according to S Sridhar, Chair, FICCI Pharmaceuticals Committee and MD, Pfizer. India's pharmaceutical import...

Increasing taste for flavoured cashews The India processed cashew market is projected to register a CAGR of 9.33% during the forecast period (2020-2025), according to a ResearchAndMarkets report. The cashew kernel market has witnessed a rapid shift in the consumption...

Employees being reskilled, says Minister Naik Globally sourced modern technologies have been inducted into the Ordnance Factories as per the Comprehensive Modernization Plan for the XIth and XIIth five-year Plan, Minister of State for Defence Shripad Naik said in a...

Access to modern technology sought The Government has issued 464 licenses to Indian Companies for manufacturing of a wide range of defence items as of February 2020, Minister of State for Defence Shripad Naik said in a written reply Rajya...

Cabinet approves Rs.40,995 crore scheme Global mobile phone manufacturers are set to benefit from a Rs.40,995 crore incentive scheme approved by the Cabinet on 21 Mar 2020. The proposed scheme is likely to benefit 5-6 major global players and few...

India works to build Rs.86,840cr medical device sector To support the strong growth in Medica Device sector, the Cabinet has approved a series of schemes including Production Linked Incentive (PLI) scheme for promoting domestic manufacturing of medical devices with financial...

Support for Indian pharmaceutical industry The Cabinet has approved the following schemes for Promotion of Bulk Drug Parks for financing Common Infrastructure Facilities in 3 Bulk Drug Parks with financial implication of Rs.3,000 crore for next five years. Production Linked...