Apple’s upcoming iPhone 15, the next iteration of their smartphone, has commenced production in Tamil Nadu. This move is aimed at reducing the gap between their operations in India and their primary manufacturing hub in China. A facility operated by Foxconn Technology Group in Sriperumbudur is preparing to produce the latest iPhones shortly after they […]
The Index of Industrial Production (IIP) for India registered a decline in growth in June 2023, with the manufacturing sector particularly affected. The IIP growth, measured through the Index of Industrial Production, dropped to 3.7 per cent in June 2023, marking a three-month low. This decline contrasts with the substantial growth of 12.6 per cent […]
Maruti Suzuki India plans to double its production capacity to four million (40 lakhs) units in nine years from now, said Chairman RC Bhargava, hinting at what could be said to be the start of ‘Maruti 3.0’. Addressing shareholders in the company’s annual report for 2022-23, Bhargava said the company will, as soon as possible, […]
India might contemplate permitting foreign vendors of Tesla, specifically those in China, to produce essential components within the country. However, the government is not inclined towards granting special exemptions exclusively for Tesla or any other specific company. This development carries significance due to the fact that certain crucial components required for electric vehicles, such as […]
The Indian manufacturing sector maintained strong growth momentum at the start of the third quarter (July-September 2023) amid ongoing buoyant demand. According to S&P Global’s India Manufacturing Purchasing Managers’ Index, it marginally fell from 57.8 in June to 57.7 in July. The indices vary between 0 and 100, with a reading above 50 indicating an […]
Hon Hai Technology Group (or Foxconn) signed a Letter of Intent to set up a new mobile components manufacturing facility at a cost of Rs 1,600 crore in Kanchipuram district in the presence of Tamil Nadu Chief Minister MK Stalin on Monday. Giving this information, Tamil Nadu Industries Minister TRB Rajaa said in a tweet […]
Adani Enterprises Subsidiary Raises Rs 3,231 Crore (USD 394 Million) from Barclays and Deutsche Bank for Solar Module Manufacturing Facility. In a significant boost to its business endeavours, an arm of Adani Enterprises has successfully secured Rs 3,231 crore (USD 394 million) from Barclays PLC and Deutsche Bank AG to meet its working capital requirements. […]
Global smartphone shipments declined 7.8 per cent on a yearly basis to 265.3 million units in the second quarter of 2023 (April-June), preliminary data from the International Data Corporation (IDC) showed. International Data Corporation (IDC) is a global market intelligence and advisory services provider. With this, it marks the eighth consecutive quarter of contraction as […]
Samsung Electronics has announced its decision to extend production cuts in response to a challenging global semiconductor market. The company expressed a cautious outlook for the industry, noting that the demand recovery is primarily confined to high-end chips utilised in artificial intelligence applications. The memory chip industry has been experiencing an unprecedented downturn, which had […]
Adani Group’s copper-producing factory in Mundra, Gujarat is set to commence operations in March of 2024. This development is expected to reduce India’s reliance on imported copper and support the country’s transition towards clean energy. Copper plays a vital role in electrification as it is extensively used in various technologies crucial for the energy transition, […]
