Oil prices witnessed a robust start to the New Year, surging over two per cent in the first trading session. The spike was attributed to potential disruptions in Middle East supply chains following the recent attack on a container ship in the Red Sea. Brent crude rose by USD 1.72, or 2.2 per cent, reaching […]
Hyundai Motor India achieved the highest-ever domestic sales in the calendar year 2023, surpassing the six lakh sales milestone. The automaker recorded sales of 6,02,111 units, registering a 9 per cent increase over the previous year’s 5,52,511 units. Additionally, Hyundai Motor India elevated its export performance by 10 per cent, shipping 1,63,675 units in 2023 […]
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 […]
Century Plyboards (India), a manufacturer of wood panels and the decorative industry has allocated an investment of close to Rs 1000 crore for the laminate Medium density fibreboard (MDF) and Poly Vinyl Chloride (PVC) unit in Andhra Pradesh. The first phase of production comprises two large-size presses of laminates in Badvel, Andhra Pradesh which was […]
Jindal Steel and Power (JSP) has inked an MoU with Rashtriya Ispat Nigam Limited (RINL) for the operationalisation of RINL’s Blast Furnace-3 (BF-3). The furnace will boost production by 2 lakh tonnes of Hot Metal per month. The tie-up with RINL will release additional liquid steel for slab casting and onward rolling into Hot Rolled […]
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 […]
Wholesale inflation in India, based on the Wholesale Price Index, is back in positive territory after staying in the negative zone for the seventh straight month until October. Data released by the Ministry of Commerce and Industry on Thursday afternoon showed India’s wholesale inflation in November stood at 0.26 per cent. In October, it was […]
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 […]
The slow growth in private consumption signals a mild expansion of sales activity of Indian micro, small and medium enterprises (MSMEs), according to the Jocata Sumpoorn index. Jocata Sumpoorn moved up to 0.62 in October, showing sales activity for credit-seeking MSMEs in the zone of moderate expansion. As sales performance had been in the zone […]
India’s expanding consumer market and vast labour force can make it an alternative destination to China as part of countries’ supply chain diversification, according to Fitch Ratings. According to the global rating agency, supply chain diversification away from China presents several emerging markets with an unprecedented opportunity to deepen global supply chain participation and expand […]
