GE Transportation signed an $18m contract with Lloyd Electric & Engineering Limited,design, develop, manufacture & maintain air conditioning systems to supply custom designed air conditioning units for the Indian Railways Marhowra Locomotive project. The contract is to design, manufacture, test and supply air conditioning units to be manufactured in Lloyd’s factory in Bhiwadi, Rajasthan over […]
India’s attractiveness for manufacturers is growing due to availability of low-cost labor, said an ASSOCHAM-EY joint study. ¨Rising manufacturing costs in China and Taiwan are compelling manufacturers to shift their manufacturing base to alternate markets. In 2014, the average manufacturing labor cost per hour in India was US$0.92 as compared to US$3.52 of China,¨ said […]
Jindal Steel & Power Limited (JSPL), one of India’s leading steel manufacturers, said it will set up a plant to manufacture rails for metro & high speed rail projects with an investment of Rs 200 crores. The plant is capable of producing 30,000 MT of rails per month and has been set up in technical tie-up […]
The Competition Commission of India (CCI) has imposed fine of Rs 6,320.6 cr upon ten cement manufacturers for forming independent organization to limit competition by controlling the production and distribution of cement, said the Ministry of corporate affairs. The list of companies included ACC Cements, Ambuja Cements, Binani Cements, Century Cements, India Cements, J K […]
TomTom, a company from Netherlands into manufacturing of navigation devices, inaugurated its first global innovation hub in India at Pune. The innovation hub will enable employees to upgrade their skills, innovate, raise ideas and think like entrepreneurs thereby helping to develop a deeper culture of innovation in the company with a free-flow of information and […]
Aksh Optifibre Ltd. will complete the acquisition of Unitape Mandovi Pvt. Ltd.Composites within 15-20 days, the company said. It said it decided to buy Unitape as it was engaged in the business of manufacturing fibre re-inforced plastic (FRP) rods. Aksh said FRP rods was also its own main line of business. Unitape has a production […]
The majority of Indian IT and financial sector workers are unhappy with their salary, a new survey by Monster.com said. It also found that Indian-owned companies typically pay much lower salaries than MNCs. The IT sector turned out to be the highest paying industry in India, even ahead of the financial services industry, which is […]
Bharat Heavy Electricals Limited said it won an order worth around Rs 3,500 for the supply of two 800 MW boilers with supercritical parameters for Telangana Super Thermal Power Project (TnSTPP). The project is located within NTPC’s existing Ramagundam Power Station in Karimnagar district of Telangana. “The power generated from this plant will contribute substantially […]
Business conditions across the Indian manufacturing economy improved further in October, but purchasing manager index showed weakness, research commissioned by The Nikkei newspaper showed. October saw the weakest rise in output in current 24-month sequence of expansion and new orders increased at a slower pace. The Nikkei India PMI hit a 22-month low in October. […]
Bosch, a leading supplier of technology and services, inaugurated its 14th manufacturing facility in India at Bidadi, near Bengaluru. The Rs 340 cr plant will manufacture products for the Diesel Systems division. “India is a key pillar of our growth strategy in Asia Pacific. A strong local presence is the basis for further growth in […]
Tube Investments of India Limited, part of the Murugappa Group and maker of BSA cycles in India, reported Q1 profit of Rs 95 cr against Rs 90 cr for the corresponding quarter in the previous year. On a standalone basis, the company’s revenue for the quarter was higher by 3% at Rs 1009 cr as […]
In the tussle with neighboring state Telengana over attracting investments, Andhra Chief Minister Chandrababu Naidu has managed to win a small battle with the decision of Xiaomi to establish its first manufacturing plant in India at Vishakapatnam. Though an official announcement about Xiaomi’s India manufacturing has not been made yet, the company leaves very little […]
Sony India started manufacturing of its BRAVIA television in India under a contract-partnership with Competition Team Technology (India) in Sriperumbudur, Tamil Nadu. To begin with, Sony will start manufacturing two models, both Android TVs in the initial phase. The first shipment commences from today, 4th August 2015. The move is likely to make the TVs […]
