INDIAN FANS MANUFACTURERS ASSOCIATION
International toy fair to begin on July 6; over 100 foreign buyers to participate
Wooden toy maker Gautam said that different categories of toys will be showcased to buyers such as electronics, soft toys, playground equipment and board games. The country's toy exports declined marginally to USD 152.34 million in 2023-24 from USD 153.89 million in the previous financial year, according to a report by economic think tank GTRI.
A war of titans builds up in India's cement sector
The UltraTech-India Cements deal comes two weeks after Adani Group unit Ambuja Cement announced acquisition of Hyderabad-based Penna Cement at an enterprise value of Rs 10,422 crore, adding to its capacity and market share in southern India.
10 Best Stand Fans in India (July 2024) ensuring Efficient Airflow in Every Corner
Uncover a diverse selection of the best stand fans available online, tailored to meet your cooling requirements with precision. From robust high-speed models maximising air circulation to energy-efficient designs aimed at minimising electricity consumption, each fan boasts unique features such as adjustable height, speed settings for customizable airflow, and durable constructions ensuring long-term reliability. Whether you prioritise performance, noise reduction, or economic operation, this comprehensive article empowers you to select the perfect stand fan to enhance comfort in your living or working space.
EU proposes anti-dumping duty on Indian optical fibre cable manufacturers
The European Commission has proposed a 8-11.4% anti-dumping duty on Indian optical fibre cable (OFC) manufacturers exporting to Europe. Sterlite Technologies, Birla Cables, Universal Cables, Vindhya Telelinks, and others are among the companies facing this duty.
Tyre exports from India recorded at Rs 23,073 cr in FY24
India's tyre exports reached Rs 23,073 crore during 2023-24, a year up from the previous year, according to the Automotive Tyre Manufacturers' Association (ATMA). The industry's resilience and quality are attributed to the industry's high export to turnover ratio. With a turnover of around Rs 90,000 crore and exports of over Rs 23,000 crore, the Indian tyre industry is one of the few with a high export to turnover ratio.
Electronics cos charged up for big revenue boost, set to double revenues to $55 billion by FY2027
India's EMS industry revenues are projected to double to $55 billion by FY27, driven by local component sourcing. Apple, Samsung, Lenovo, and other global firms are set to expand operations in India.
AC sales may touch new record of 14 million units annual sales in 2024: CEAMA
The blistering heatwave has driven record demand for room air-conditioners, with expected annual sales of around 14 million units, says the Consumer Electronics and Appliances Manufacturers Association (CEAMA). May saw record-breaking AC sales, with projections of 30-40% growth in summer. Energy-efficient models and indigenous manufacturing contribute to the market's robust expansion.
Telecom gear makers seek 2-year extension for security testing of customers' WiFi
Telecom gear manufacturers are pushing to delay the mandatory security testing deadline for WiFi CPE and IP routers, requesting a two-year extension and voluntary certification. They cited high costs and limited accredited labs. The Department of Telecommunications had previously extended the application start date to January 1, 2024, and then to July 1, 2024, with further extensions for certified models.
Listen closely: From Google smart speakers to Paytm soundboxes, these businesses are thriving in manufacturing
Making for others can be more lucrative than building a brand for themselves — this realisation has created a brigade of small contract manufacturers who are making India’s place prominent in the global electronics manufacturing services map.
Has India’s toy story started to falter?
After hitting a high of $177 million in the financial year 2022, India’s toy exports are seeing a fall. To add to the pain, imports are also rising.
Why imports from China are rising despite atmanirbhar Bharat initiatives
Imports from China is something India should monitor. But in some ways, this might be the way for the country to become a self-reliant economy.
Orient Electric appoints Ravindra Singh Negi as Managing Director and CEO
Orient Electric, part of the $3 billion CK Birla Group, has appointed Ravindra Singh Negi as its managing director and CEO, effective May 31, 2024. Negi, with extensive experience in electrical consumer durables, will guide the company towards sustained growth. He will be based in New Delhi and succeed Deepak Khetrapal as managing director.
India’s scorching summer brings earnings boost for these stocks
India recorded its highest temperature of 50C (122F) in Rajasthan on Saturday. The hot spell coincides with the nation’s weekslong elections that’s drawn million of voters to campaign rallies and polling stations.
India leads in electric vehicle sales amid global slowdown
Global electric vehicle sales growth faces challenges like capital costs and election uncertainty. US EV sales outpaced Europe, where EV sales declined due to Easter holidays. Germany saw a 29% drop in EV sales, while India's EV market share doubled to 4% in 2023.
Gold price spike pushes Kancheepuram silk saris prices by 50%, sales plummet
As the wedding season approaches, families shopping for Kancheepuram silk saris face sticker shock due to soaring gold prices, prompting a shift in consumer preferences. Retailers like RmKV report a 20% decline in sales, while industry insiders reveal a staggering 50% price hike over the past eight months.
Paper, paperboard imports up 34pc in FY24 on higher supplies from ASEAN bloc: IPMA
Imports of paper and paperboard in the country rose by 34 per cent to 19.3 lakh tonnes in 2023-24, driven by higher shipments from ASEAN countries, an industry association said on Wednesday. The Indian Paper Manufacturers Association (IPMA) in a statement said that the increasing imports of these products are hurting the domestic industry.
Need two more PLIs for wearables and components: MAIT
MAIT, which represents major electronics companies such as Dixon Technologies, Dell, HP, Google amongst others, said the industry would review existing PLI schemes over the next two months to examine how they have fared vs policy objectives.
Unpredictability in enforcement agencies action needs a check: ICEA chairman
While speaking about the achievement of the mobile industry in the last 10 years, India Cellular and Electronics Association (ICEA) Chairman Pankaj Mohindroo said that the next phase of growth in the country will come from exports and there is a need to build domestic champions in the sector as part of government's 'Atmanirbhar Bharat' (self-reliant India) plan.
Government's stance on sugar exports amidst industry demands
ISMA seeks sugar export despite surplus, impacting closing stock projections. Central government prioritizes ethanol over export, aiming to build reserves. Sugar prices rise despite production surprises, with 2024-25 forecast dependent on monsoon.
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