Llyod wins railway AC contract from GE Transportation

GE Transportation signed an $18m contract with Lloyd Electric & Engineering Limited,design, develop, manufacture & maintain air­ conditioning systems to supply custom designed air ­conditioning units for the Indian Railways Marhowra Locomotive project. The contract is to design, manufacture, test and supply air­ conditioning units to be manufactured in Lloyd’s factory in Bhiwadi, Rajasthan over […]

India emerging as alternative to China in electronics manufacturing- study

India’s attractiveness for manufacturers is growing due to availability of low-cost labor, said an ASSOCHAM-EY joint study. ¨Rising manufacturing costs in China and Taiwan are compelling manufacturers to shift their manufacturing base to alternate markets. In 2014, the average manufacturing labor cost per hour in India was US$0.92 as compared to US$3.52 of China,¨ said […]

Jindal Steel sets up India’s first high speed rail manufacturing facility at Rs 200cr

Jindal Steel & Power Limited (JSPL), one of India’s leading steel manufacturers, said it will set up a plant to manufacture rails for metro & high speed rail projects with an investment of Rs 200 crores. The plant is capable of producing 30,000 MT of rails per month and has been set up in technical tie-up […]

ACC, Ambuja among cement companies facing massive fines from Competition Commission

The Competition Commission of India (CCI) has imposed fine of Rs 6,320.6 cr upon ten cement manufacturers for forming independent organization to limit competition by controlling the production and distribution of cement, said the Ministry of corporate affairs. The list of companies included ACC Cements, Ambuja Cements, Binani Cements, Century Cements, India Cements, J K […]

Dutch navigation company TomTom sets up innovation hub in Pune

TomTom, a company from Netherlands into manufacturing of navigation devices, inaugurated its first global innovation hub in India at Pune. The innovation hub will enable employees to upgrade their skills, innovate, raise ideas and think like entrepreneurs thereby helping to develop a deeper culture of innovation in the company with a free-flow of information and […]

Aksh Optifibre to complete acquisition of Unitape within 15-20 days

Aksh Optifibre Ltd. will complete the acquisition of Unitape Mandovi Pvt. Ltd.Composites within 15-20 days, the company said. It said it decided to buy Unitape as it was engaged in the business of manufacturing fibre re-inforced plastic (FRP) rods. Aksh said FRP rods was also its own main line of business. Unitape has a production […]

Indian cos pay half the salaries of foreign cos; IT, finance workers most unhappy

The majority of Indian IT and financial sector workers are unhappy with their salary, a new survey by Monster.com said. It also found that Indian-owned companies typically pay much lower salaries than MNCs. The IT sector turned out to be the highest paying industry in India, even  ahead of the financial services industry, which is […]

BHEL wins Rs 3,500-cr order from NTPC

Bharat Heavy Electricals Limited said it won an order worth around Rs 3,500 for the supply of two 800 MW boilers with supercritical parameters for Telangana Super Thermal Power Project (TnSTPP). The project is located within NTPC’s existing Ramagundam Power Station in Karimnagar district of Telangana. “The power generated from this plant will contribute substantially […]

Manufacturing improves, but Nikkei India PMI hits a low point

Business conditions across the Indian manufacturing economy improved further in October, but purchasing manager index showed weakness, research commissioned by The Nikkei newspaper showed. October saw the weakest rise in output in current 24-month sequence of expansion and new orders increased at a slower pace. The Nikkei India PMI hit a 22-month low in October. […]

Xiaomi’s first factory in India in Andhra Pradesh; victory for Chandrababu

In the tussle with neighboring state Telengana over attracting investments, Andhra Chief Minister Chandrababu Naidu has managed to win a small battle with the decision of Xiaomi to establish its first manufacturing plant in India at Vishakapatnam. Though an official announcement about Xiaomi’s India manufacturing has not been made yet, the company leaves very little […]

Sony’s Bravia Android TV could become cheaper as local manufacturing starts

Sony India started manufacturing of its BRAVIA television in India under a contract-partnership with Competition Team Technology (India) in Sriperumbudur, Tamil Nadu. To begin with, Sony will start manufacturing two models, both Android TVs in the initial phase. The first shipment commences from today, 4th August 2015. The move is likely to make the TVs […]