Vedanta to set up two industrial parks on a not-for-profit basis: Anil Agarwal
Vedanta would also consider similar parks for oil and gas, and iron and steel, said Agarwal. “An industrial park can greatly increase the competitiveness of manufacturing," he said. Key Points
Business TodayIndia’s industrial output in 2021-22 rebounded from Covid lockdown to surpass pre-pandemic levels
New govt data on industrial production reveals output in 2021-22 surpassed levels of 2018-19 & 2019-20. Data shows employment and wages also rebounded strongly in these sectors. Key Points
ThePrintCapitaLand India Trust invests in three Chennai industrial facilities
India Business News: CapitaLand India Trust (CLINT) has entered into a forward purchase agreement with Casa Grande Group to acquire three industrial facilities at OneHub Chennai. This investment further diversifies CLINT's portfolio and strengthens its industrial presence in Chennai. Key Points
Times Of IndiaAsian Development Bank injects USD 250 million to boost India's industrial corridors
New Delhi [India], December 9 (ANI): The Asian Development Bank (ADB) has greenlit a USD 250 million policy-based loan to further propel the development of industrial corridors in India. The initiative aims to enhance the competitiveness of the manufacturing sector, fortify national supply chains, and foster connections with regional and global value chains. Show Full […] Key Points
ThePrintWhat ails industry growth in agri-led MP? Growth centred in clusters, govt fixes ‘too late’
Encouraging industry is a stated objective of MP govt, and there have been some promising outcomes. But industry’s contribution to state economy has fallen over the past decade. Key Points
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India's August industrial output rises at fastest pace in more than a year
India's industrial output (INIP=ECI) in August grew at the fastest pace in more than a year on the back of strong manufacturing, electricity and mining activity, data from the Ministry of Statistics showed on Thursday. Key Points
ReutersWarehousing emerges as high-growth realty assets class in India
In the first half of the year, net absorption or new leases stood at 15 million sq ft in the top eight cities of India. In terms of demand for warehousing, Mumbai, Pune and Delhi-NCR emerged as the top three locations in terms of demand during this period. Key Points
Economic TimesIndia's industrial output rose 3.7% in June
India's industrial output (INIP=ECI) rose 3.7% year-on-year in June, data from the Ministry of Statistics showed on Friday. Key Points
ReutersEmerson raises fiscal 2023 forecast on demand for industrial automation
U.S. engineering and industrial software firm Emerson (EMR.N) on Wednesday raised its fiscal 2023 forecast, as companies increase spending on automation in response to a tight labor market. Key Points
Reuters'Demand for industrial warehouse leasing steady in top 5 cities during Jan-June'
The demand for industrial and warehousing properties in the top five Indian cities has remained steady in the first half of 2023, with 11 million square feet of leasing, similar to last year's figures. Delhi NCR led demand, followed by Mumbai. The Indian industrial and warehousing sector is thriving, buoyed by increased capital investments, manufacturing output and favourable government policies, while the 3PL sector accounts for 37% of total leasing volume. Key Points
Economic Timesindustrial Output Rebounds in April, but Recovery Remains Uneven
Industrial output in April showed a growth of 4.2%, bouncing back from a five-month low in March. However, electricity generation contracted for the second consecutive month, while manufacturing and mining experienced around 5% growth. The overall industrial growth in April still remained the second slowest in six months. The National Statistical Office revised the Index of industrial Production for March, indicating a growth of 2.3%. Despite the rebound, experts highlight the uneven nature of the recovery, with some segments still below pre-COVID levels. Key Points
The HinduLiving in the peripheries: The ignored industrial housing of Delhi
Delhi has witnessed a shift in industrial policies, leading to the relocation of industries to the outskirts and creating a visual divide between affluent high-rises and dilapidated industrial colonies. Karampura, once a thriving industrial area, has transformed into a mixed-use neighborhood. The living conditions of informal workers in Delhi's industrial areas vary, with some areas experiencing gentrification and others facing marginalization. Key Points
The Indian ExpressFinance Minister Sitharaman reviews progress of NICDIT projects
India's Finance Minister, Nirmala Sitharaman, has reviewed the progress of the National industrial Corridor Development and Implementation Trust (NICDIT). The project aims to develop plug & play information and communications technology-enabled smart industrial cities with the necessary infrastructure for the manufacturing sector. It is part of the PM GatiShakti National Master Plan and seeks to attract investment and position India in global value chains. During the meeting, Sitharaman emphasized the importance of freight and industrial corridors, railways and expressways, to ignite industrialisation and achieve India's economic development by 2047. Key Points
Economic TimesSchaeffler India appoints Seshan Iyer as President for industrial biz
Iyer was also previously associated with Schaeffler as Head OEM Sales – Heavy Industry & MRO. He will be based at Schaeffler’s India corporate office in Pune and report to Harsha Kadam, MD and CEO. Key Points
Financialexpress10 Inspirational Quotes by Steve Jobs on Innovation and Creativity
Steven Paul Jobs was an American business tycoon, industrial designer, media proprietor, and investor. He was the co-founder, chairman, and CEO of Apple. Key Points
Times of India
Rs 40 trillion investment, 20 lakh jobs: What Naidu wants to achieve in 5 yrs with 6 industrial policies
Andhra Pradesh cabinet approved the policies in one go at Amaravati this week. The proposed incentives will attract industries back to the state, says CM Chandrababu Naidu. Key Points
ThePrintindustrial policies have returned. What’s new?
India has been criticised for appearing to be more trade interventionist in recent years. But, countries across the world have returned to some form of industrial policy. Key Points
mintindustrial growth slows to a three-month low of 3.7% in June
“The sequential slowdown was led by the manufacturing sector, while the mining and electricity sectors witnessed an improvement in their growth performance amid deficient rainfall in the month,” said Aditi Nayar, chief economist, Icra. Manufacturing, which has a weight of 77.6% in the Index of industrial Production, grew at its slowest pace of 3.1% in three months, even as electricity and mining outperformed, showed a government data release on Friday. Key Points
Economic TimesKarnataka offers 100 acres to Foxconn subsidiary in Tumakuru, talks in early stages
Senior government officials told ET that FII was considering Karnataka to set up its modern facility, and the Industries department has suggested a site in Tumakuru district which is close to Bengaluru. But FII is yet to respond and may accept the site suggested or prefer a different location. Key Points
Economic TimesChina industrial profits tumble 18% in April as demand sputters
Profits fell 20.6% in January-April from a year earlier, compared with a 21.4% decline in the first three months, according to data from the National Bureau of Statistics (NBS). Key Points
Economic Times
India, ADB ink pacts for $500-mln loans to bolster infra sector
The project will help the RRTS improve urban mobility, and women and the differently abled will benefit from its economic impact, Mukherjee said. Passing through the populated sections of the national capital region, the 82-km corridor is aimed at providing fast, safe, and high-capacity commuter transit services, expanding economic and job opportunities by cutting travel time from three-four hours now to about one hour, according to one of the statements. Key Points
Economic TimesLoss due to Cyclone Michaung expected to be over Rs 11,000 crore
K. E. Raghunathan said the estimate has been segregated into business loss due to production being stopped, machinery or asset loss and material loss. Raghunathan said the population in KTCC (Kanchipuram, Tiruvallur, Chennai and Chengalpattu districts) in Tamil Nadu alone is assumed to be 1.75 crore with over 3.50 lakh industries spread over 12 SIDCO/SIPCOT constructed industrial estates at Kakkalur, Thirumalisai, Gummidipoondi, Ambattur, Guindy, Thirumudiwakkom, Oragadam, Siruseri, Sriperumbudur, Kanchipuram, Kodungaiyur, Maraimalainagar apart from the private industrial parks and IT sector office buildings. Key Points
Economic Times3M names new healthcare spinoff as Solventum
U.S. industrial conglomerate 3M (MMM.N) said on Thursday its independent healthcare business would be called Solventum following its spinoff. Key Points
ReutersWhy Trump Is Right About Tariffs
Taxing imported goods is unpopular with economists, but it could help the U.S. lower the trade deficit, strengthen its industrial base and safeguard national security. Key Points
mintindustrial & Prudent Investments Company Q3 FY24 Results Live: profit rise by 18.91% YOY
Industrial & Prudent Investments Company Q3 FY24 Results Live: Revenue decreased by 42.05% YoY & profit increased by 18.91% YoY Key Points
mintIndia's JSW Energy posts higher Q3 profit on demand boost, lower fuel costs
BENGALURU (Reuters) - India's JSW Energy reported a jump in third-quarter profit on Tuesday, helped by greater power demand and lower fuel costs. India's electricity generation rose 8.7% year-on-year Key Points
ThePrintManufacturing activity still lower than pre-pandemic levels: Experts
An ET analysis found that 12 of the 22 manufacturing firms captured in the index of industrial production were still operating at lower levels than during the pre-pandemic period. “It is becoming progressively clear that notwithstanding some high volatile growth numbers, it is not broad-based. Deficiency in spending is manifest here,” said Madan Sabnavis, chief economist, Bank of Baroda. Key Points
Economic TimesNoida airport: Road link with Yamuna Expressway to be ready by March
The construction of a 750-meter road linking the Yamuna Expressway with the Noida International Airport in Jewar is expected to be completed by March 2024. The road will serve as the main link to the airport for commuters from Noida and Delhi. Additionally, a 31-km expressway is being built to connect the Yamuna Expressway with the Delhi-Mumbai Expressway in Ballabhgarh. Half of the 7.5-km stretch in Uttar Pradesh has already been completed, with the rest expected to be finished by March. Key Points
Economic Timesindustrial units to approach CAQM on diesel genset ban
Industry associations in Gurugram, Faridabad, and other NCR towns in Haryana plan to approach the Commission for Air Quality Management (CAQM) to seek relief from a ban on diesel gensets from October 1. The ban, which includes backup use, would make operation of industrial units unviable. The associations argue that the laying of piped natural gas lines has not been completed in several industrial areas and retrofitment costs for alternative power sources are too high. They suggest improving power distribution and ensuring uninterrupted supply as an alternative to the ban. Key Points
Hindustan TimesBacking of a strong parent: Beside’s Jio financial 7 such stocks with upside potential of up to 35%
If one looks at the survivor of the NBFC aftermath of 2018, it is very clear that a strong parentage was the common factor among the NBFC’s which not only survived the crisis but also thrived post crisis. A number of them belong to industrial groups from the southern and western part of India. Is it because they are focussed on the southern and western part of India which is more prosperous or they are more focussed on systems and processes ensuring that their loan book grows slowly but sustainably. Key Points
Economic Times
UK economy grows by 0.1% in first quarter of 2023
Output was 0.2% higher than a year earlier, the Office for National Statistics said. But GDP in March alone dropped 0.3%, compared with poll forecasts for it to hold steady. While industrial output and construction grew, the much larger services sector dropped 0.4%, reflecting weak car sales and retail, hurt by unusually rainy weather and high inflation. Key Points
Economic TimesJapanese and Korean cities to be developed in Noida, authority allocates land. Here are details
Authority has allocated two sectors for the establishment of 'Japanese' and 'Korean' cities in Noida. The 'Japanese City' will span 395 hectares, while the 'Korean City' will cover 365 hectares. The proximity to the Noida International Airport in Jewar is expected to enhance connectivity. The projects will also include residential units, schools, hospitals, and other amenities. Key Points
Economic TimesET Explains: What is ASI, and what is its connection with GDP?
India swiftly recovered from the Covid-19 pandemic, with employment rising above pre-pandemic levels in 2021-22, according to the latest Annual Survey of Industries (ASI). Investment growth also picked up during this period. The ASI measures industrial statistics of registered manufacturing enterprises and provides data on gross value added, output, inputs, invested capital, net income, and profits. The 2021-22 results indicated a sharp recovery in employment, with 17.2 million people employed by enterprises during the fiscal year. The ASI data helps determine the industrial sector's contribution to GDP. Key Points
Economic TimesFinMin sees bright FY24, backed by robust indicators
India's macroeconomic outlook for the 2023-24 financial year is strong, supported by robust domestic fundamentals, according to the finance ministry. The report highlights two additional drivers of growth: increasing investment demand and a rise in industrial activity. industrial growth in India reached a 14-month high in August, and the International Monetary Fund recently raised its growth forecast for India for FY24. Key Points
Economic TimesInter-ministerial consultation on for new industrial policy: DPIIT Secy
The Indian government is working on a new industrial policy, which will be the third after 1956 and 1991. The policy aims to create a globally competitive business environment that fosters manufacturing, exports, and innovation. The policy is likely to recommend reforms that enable a globally progressive, innovative, and competitive industrial ecosystem. Key Points
Economic Times
A play on broader economic recovery: 6 stocks from core industrial supplies segment with upside potential
While there are many ways to play the theme of industrial recovery, there is a set of companies, who don't come into headlines very often but a very high correlation between how the economy as whole is doing and a sector in particular. So while steel companies may come into news because of what happens to commodity prices and China, but the companies, which supply consumables like refractory material to them, don't come into the headlines. It is not only steel or metal, there are a host of sectors where there are niche players who supply critical input to another industry and their bottomline growth is linked to what is happening in the mother industry. Now there is little doubt that one after another things are turning better for many sectors, so some of these companies which supply industrial consumables are also coming into focus. Key Points
Economic TimesWorld markets today: As Fed meet begins US stocks open muted
The Dow Jones industrial Average fell 35.22 points, or 0.09 per cent, at the open to 38,298.23. The S&P 500 opened lower by 2.04 points, or 0.04 per cent, at 4,925.89, while the Nasdaq Composite dropped 23.97 points, or 0.15 per cent, to 15,604.08 at the opening bell. Key Points
mintWorld Markets today: US stocks trade flat, Intel down 6-week low, slumps 12%
As of 9:49 a.m. ET, the Dow Jones industrial Average demonstrated a gain of 36.03 points, equivalent to a 0.09% increase, reaching 38,085.16. Key Points
mint10 Quotes by Brian Chesky on Entrepreneurship and Innovation
Brian Joseph Chesky is an American businessman and industrial designer. He is the co-founder and CEO of the peer-to-peer lodging service Airbnb. Key Points
Times of IndiaRussian missile strikes Ukraine's Odesa, falling debris trigger two fires in Kyiv
One person died in an early morning Russian missile strike on an industrial facility in the southern Ukrainian city of Odesa. Falling debris during an air raid on Thursday triggered two fires in a non-residential building in Kyiv. Key Points
India Today
Lokayukta asks MPCB to monitor air pollution in Taloja for a month
Maharashtra Pollution Control Board has been ordered to deploy an observation van in Taloja to monitor air pollution levels and identify industrial units releasing obnoxious gases, while directing them to install pollution-control devices. The order also highlighted the presence of unauthorised construction in the 500 metre buffer zone from the boundary of notified common integrated treatment, storage and disposal facilities. The matter has been adjourned until 2 June. | Mumbai news Key Points
Hindustan TimesUS stocks open lower; Dow down 525 points as Credit Suisse renews bank worries
The Dow Jones industrial Average fell 525 points or 1.6%, at the open to 31,759.87. Key Points
Economic TimesJan industrial output up 5.2% on manufacturing boost, IIP growth second highest since july 2022
India's industrial production rose 5.2 per cent in January this fiscal, according to official data released on Friday. Factory output measured in terms of the Index of industrial Production (IIP) grew 2 per cent in January 2022. Key Points
Economic TimesFestive wave may lift India's industrial growth in coming months
Industrial growth hit a three-month high of 5.7% in July from 3.8% in June. You can't get a better time for manufacturing than now; festival season is followed by elections, with rabi and marriage season, said Madan Sabnavis, chief economist at Bank of Baroda. Key Points
Economic TimesInflation, IIP data, US Fed decision major factors to guide markets this week: Analysts
"All eyes are now on the US Fed policy outcome for cues, which is scheduled on June 14. In the following sessions, the European Central Bank (ECB) and Bank of Japan (BoJ) will also announce their policy decisions. Key Points
Financialexpress
Retail inflation for industrial workers falls to 5.79% in March: Govt
in March, food inflation stood at 5.02% against 6.13% in the previous month and 6.27% during the corresponding month a year ago. Key Points
mintNoida: UP industry commissioner directs three authorities to go digital to offer hassle-free services
In Noida, there are approximately 80,000 individual property allottees, 400 group housing allottees, around 12,000 industrial plots, and other category allottees. In Greater Noida, the number of allottees is around 60,000, including individuals and others. Yeida has at least 30,000 property allottees Key Points
Hindustan TimesBudget 2024: Is Modi govt's pet scheme still strong enough to make India a manufacturing giant?
Interim budget: India's Production-Linked Incentive (PLI) scheme, launched in 2020, aims to boost manufacturing, decrease imports, and increase exports. While critics, including former RBI governor Raghuram Rajan, question its effectiveness, the Commerce and Industry Ministry reports over Rs 95,000 crore invested and 746 approved applications till November 2023. The proposed industrial policy seeks to enhance competitiveness and identify areas of cost advantage over China. Key Points
Economic TimesInflation watch: No RBI pivot just yet
Unless inflation shows signs of durably reaching 4%, RBI is unlikely to shift focus to perking up the economy with cheaper credit. In any case, economic growth has been robust. Key Points
mintItaly industry output dips in October, but slightly less than expected
International Business News: Italian industrial output fell 0.2% in October, slightly better than expected. On a year-on-year basis, output declined 1.1% in October. The three mon Key Points
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Goodyear tune-up may go beyond rotating the tires
A century is a long time to accumulate bad habits. Goodyear Tire & Rubber (GT.O) on Wednesday said it would try to shed some, by selling $2 billion of assets, streamlining its business and paying down debt. Corporate cage-rattler Elliott Investment Management, which won seats on the board in July, blessed the moves, which echo shifts rocking other aged industrial icons. Key Points
Reuters