Domestic flat steel prices are reported to have nearly doubled to Rs.72,000 per tonne in June from Rs.38,000 per tonne a year ago. In comparison, long steel prices rose 1.4 times to Rs.57,900 per tonne. The price rally is expected to benefit through the first half of this fiscal year with flat steel prices up 70 per cent since April.[Read More…]
India’s overall exports (Merchandise and Services combined) in April-May2021 were valued at USD 98.29 billion. A growth of 56.94 per cent over the same period last year. Overall imports in April-May2021 are estimated to be USD 104.14 billion, a growth of 77.82 per cent over the same period last year. Exports in May 2021 were USD 32.27 billion, as compared[Read More…]
Information technology, consulting and business process services company, Wipro Ltd., entered into a strategic partnership with German company FEV. A global engineering provider, to jointly develop and market solutions for software-defined vehicles, the partnership entails joint development. The two will set up an innovation lab, which will develop automotive use cases, engineer scalable software, electronic architecture and develop system features.[Read More…]
Part of the Pune-based Poonawalla Group, h2e will use its green hydrogen production capability to develop India’s first totally integrated hydrogen fuel cell three-wheeler. The company will use PEM fuel cell and advanced hydrogen cylinders in collaboration with Canada based company ‘Hydrogen in Motion’ under a Indo-Canadian program funded by a Public Private Partnership (PPP), GITA, between Technology Development Board,[Read More…]
Prime Minister Narendra Modi on the occasion of World Environment Day released an expert committee report on the road map for ethanol blending in India 2020-2025. He launched the ambitious project in Pune entailing the production and distribution of ethanol across the country. The Prime Minister spoke of the government’s resolve to meet the target of 20 per cent ethanol[Read More…]
Automotive Tyre Manufacturers Association (ATMA) will undertake rubber plantation on about two lakh hectares in North East India with a total capital outlay of approximately Rs.1,100 crore. Said to be aimed at countering the plateauing of natural rubber production in the state of Kerala, the five year project was envisaged to commence in June 2021 with nearly 10,000 hectares plantation[Read More…]
Continental’s “Women for Manufacturing,” initiative is aimed at empowering and supporting women to take up a career in manufacturing through various skill development programs. Deemed to be historically stereotyped as unsuitable for women, and said to have over the years resulted in an under-representation of women in this field, as per the Continental study, a lack of awareness, the sheer[Read More…]
In the June 04, 2021 announcement, Reserve Bank of India (RBI) Governor Shaktikanta Das urged the people at large to not be overwhelmed by the current situation but resolve to collectively overcome it. The Governor informed of the repo rate left unchanged at four per cent and the reverse repo rate fixed at 3.35 per cent. The RBI projection for[Read More…]
For the month of April 2021, the quick estimates of Index of Industrial Production (IIP) with base 2011-12 stand at 126.6. The IIP for the manufacturing sector for the month of April 2021 stands at 125.1. It must be noted that the quick estimates will undergo revision in subsequent releases as per the revision policy of IIP. The use-based classification[Read More…]
Bharat Forge is tapping new avenues after some effect of the pandemic. Bhushan Mhapralkar looks at factors driving the growth prospects of the company. Bharat Forge is emerging stronger from the pandemic. Claimed to maintain a positive outlook of the M&HCV segment on the back of infrastructure spending and the government’s focus on increasing manufacturing share in GDP, PLI schemes,[Read More…]
