Manufacturing

In-principle approval has been given for disinvestment of three units of Steel Authority of India Limited (SAIL), Steel Minister Dharmendra Pradhan said in a written reply in the Rajya Sabha on 10 July 2019.

Russia has called for focus on strategic economic cooperation with India at a bilateral meeting held on 10 July 2019 in New Delhi.

Commerce and Industry Minister Piyush Goyal has highlighted India’s concern on the import quota restrictions faced in Indonesia by the Indian auto and auto component industries on completely built up units (CBU) and tyres.

Growing partnerships and surging Foreign Direct Investment (FDI) in Defense vertical have propelled the demand for thermal imaging systems in India with a projected CAGR of 15% from 2019 to 2025.

The Indian Industry is not convinced that Regional Comprehensive Economic Partnership (RCEP) will create a win-win situation for all by ensuring balanced outcomes in an across the key pillars, particularly goods and services.

Noida-based Global EPC and turnkey management company Nuberg EPC will build a Chlor-Alkali plant to produce caustic soda, hydrochloric acid and sodium hypochlorite chlorine in Morocco.

PhoreMost, the UK-based biopharmaceutical company dedicated to drugging ‘undruggable’ disease targets, has entered into a structural biology focused collaboration with the Centre for Chemical Biology and Therapeutics (CCBT) of Bangalore.

A Government-appointed consultant has been working on Detailed Project Report for the Uttar Pradesh Defence Corridor, an investment of Rs.3,700 crore for which has been announced.

Ministry of Food Processing Industries and the World Bank have called for Expression of Interest for a hiring a Project Management Consultant to establish a Project Management Unit to support in implementation of India-Proposed Food Processing and Value Addition Program.

To further promote domestic manufacturing heavy industries, the Finance Minister Nirmala Sitharaman has proposed in 2019-20 Budget customs duty reductions on certain raw materials and capital goods needed for nuclear power plants.