Pegatron Corporation, a major supplier to tech giant Apple, has announced an investment of Rs 1,000 crore in Tamil Nadu. The investment is targeted at establishing a computing, communications, and consumer electronics manufacturing unit, bringing with it the promise of generating employment for approximately 8,000 individuals. The Memorandum of Understanding (MoU) formalising this investment was […]
Delhi Chief Minister Arvind Kejriwal on Tuesday granted permission for 32 more shops and commercial establishments to operate 24 hours, an official statement said. According to the initiative, it could provide new job opportunities for young people as well as boosting economic activity in Delhi, it said. The Delhi labour department suggested to the CM […]
The US Treasury implemented new battery sourcing rules in December, to reduce dependence on Chinese suppliers in the electric vehicle supply chain. As a result of these rules, many electric vehicles, including models from Nissan, Tesla (Cybertruck All-Wheel Drive, Model 3 Rear Wheel Drive) and Chevrolet (Blazer EV), lost eligibility for tax credits of up […]
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 […]
Domestic electronics manufacturing has witnessed a remarkable increase in the past decade, growing by over 400 per cent to reach a staggering Rs 8.22 lakh crore in FY 2022-23. As informed by Minister of State for Electronics and IT Rajeev Chandrasekhar in the Lok Sabha, India’s domestic mobile phone manufacturing has achieved a milestone, with […]
Coca-Cola on Thursday revealed a substantial investment of Rs 1,387 crore for a new manufacturing facility in Maharashtra’s Ratnagiri district. Spanning 88 acres in the Lote Parshuram Industrial area within the Maharashtra Industrial Development Corporation zone, the facility will utilize water from the Vashishthi river, according to a statement from Hindustan Coca-Cola Beverages. The greenfield […]
MAS Holding’s Chairman, Mahesh Amalean on Monday met Odisha Chief Minister Naveen Patnaik and told him about the company’s interest in setting up an integrated textile and apparel manufacturing facility in Odisha. Amalean informed Patnaik about his company’s portfolio. The project can provide employment to more than 5,000 people. During the discussion, the Chief Minister […]
Delhi Chief Minister Arvind Kejriwal has given the green light for an additional 83 shops and commercial establishments in the city to operate around the clock. Upon receiving approval from the lieutenant governor, these establishments will join the existing 635 in being permitted to run 24 hours, as stated in an official announcement. Only 269 […]
The textile industry of Haryana is planning to shift its units to Uttar Pradesh and a delegation of the Haryana Textiles Association met the Uttar Pradesh Chief Minister Yogi Adityanath recently. According to an official statement released by the association, the textile industry is taking this step after being impressed with the improved law and […]
PepsiCo India anounced its ‘Partnership of Progress’ with the state of Assam in regard to its first foods manufacturing plant in Nalbari, Assam with an investment of Rs 778 crore (USD 95 Million). Spread over 44.2 acres, the state-of-the-art plant is proposed to be operational in 2025 and aims to provide direct and indirect employment […]
