India’s manufacturing sector concluded 2023 with a somewhat uncertain outlook as factory growth decelerated to an eighteen-month low in December, revealed by a business survey released on Wednesday. The HSBC India Manufacturing Purchasing Managers’ Index, produced by S&P Global, dipped to 54.9 in December from November’s 56.0. Nevertheless, the index remained above the 50-mark, indicating […]
Taiwanese electronics manufacturer Foxconn has invested USD 55.29 million in Bengaluru-based Foxconn Precision Engineering, a fresh capital made through the company’s Singapore-based subsidiary Foxconn Singapore. Foxconn Singapore has acquired 46,08,76,736 shares in total at Rs 10 each. The company’s Bengaluru unit was incorporated six months ago to set up a Rs 8,800 crore supplementary plant […]
Intel Israel and Israeli government authorities announced plans to build a new manufacturing facility in Kiryat Gat on Tuesday morning with a USD 25 billion investment. “The global company Intel’s choice to approve the unprecedented investment of USD 25 billion right here, in Israel, is important and significant,” Finance Minister Betzalel Smotrich said in a […]
The manufacturing sector growth in the country could reach USD 1 trillion by 2025-26 and Gujarat is expected to play a significant role in achieving this milestone, according to a report by Colliers India. According to its study, Gujarat achieved the highest investment in the manufacturing sector in the year 2023 and it is the […]
Hindustan Coca-Cola Beverages (HCCB), the largest bottling partner of Coca-Cola India, has formalised a Memorandum of Understanding (MoU) with the Gujarat government, affirming a substantial investment of Rs 3,000 crore in the state. The announcement precedes the Vibrant Gujarat Global Summit 2024 scheduled for 10-12 January 2024. The major investment is earmarked for the establishment […]
The manufacturing sector in India has been witnessing proliferating growth in investment, depicting a crucial phase in the country’s economic arena. As per the published dossiers by the Department for Promotion of Industry and Internal Trade (DPIIT), the manufacturing sector engrossed substantial Foreign Direct Investment (FDI), with FDI equity inflows tallying around USD 17.51 billion […]
Dixon Technologies’ subsidiary, Padget Electronics, has been awarded a contract by global tech giant Lenovo. This agreement falls under the recently revised production-linked incentive (PLI) scheme for the IT hardware segment. The contract, although contingent on the finalisation of a definitive agreement between the two entities, holds the promise of Dixon’s Padget Electronics being entrusted […]
Finance Minister Niramala Sitharaman on Thursday said that the manufacturing sector is contributing significantly to the economy following government initiatives and noted that India’s second-quarter growth this year was the highest in the world. Replying to a short-duration discussion on the “economic situation in the country” in the Rajya Sabha, Sitharaman said there was sustained […]
Major Apple suppliers Foxconn and Pegatron have been compelled to suspend iPhone production at their factories near the capital of Tamil Nadu in the wake of torrential rains and an impending cyclone in the southern Indian city of Chennai. The heavy rains have claimed at least two lives and led to the submersion of the […]
Japanese electronics manufacturer TDX Corporation will manufacture battery cells for iPhones In India, according to a media report. As per the report, TDX will supply battery cells to Premium electronic manufacturer Apple. The company is likely to work with the Sunwoda Electronics which already has operational units in India. TDK has reportedly acquired Li-ion battery […]
