INFORMAL MANUFACTURING
AJAX Engineering launches AI-driven concrete GPT platform
Concrete GPT aims to serve construction and concrete specialists by providing them with expert-validated technical information on the latest market insights, innovations, and regulatory updates. The platform is powered by OpenAI's GPT-4 model as well as the Perplexity engine and available in English, Hindi, Marathi and Kannada.
India catching up with China, Vietnam on phone exports
India is rapidly narrowing the gap with China and Vietnam in mobile phone exports. In FY24, while mobile phone exports from China and Vietnam declined by 2.78% and 17.6% respectively, Indian exports surged by 40.5%, according to officials citing global trade data. India has captured nearly 50% of the reduction in mobile phone exports from these two countries, aligning with its objective of absorbing a significant portion of the supply chain shift from China.
25% of new hires are married women; nearly 70% workforce are women: Apple iPhone maker Foxconn
Foxconn clarified to government that 25 per cent of new hires are married women and safety protocol banning metal is not discriminatory. Ministry of Labour sought report on married women issue at Foxconn India Apple iPhone Plant. Foxconn emphasised that safety protocol applied to all, not just Hindu women. They brushed away media reports saying it was a misinterpretation.
More Taiwanese ICT suppliers may relocate to India in near future, says official
Anticipating the Taiwan Expo 2024, Chend envisions a robust platform for showcasing products and fostering business opportunities to enhance Taiwan-India trade relations, reflecting the significant growth in economic cooperation between the two nations.
Wall Street ends slightly up, trade choppy ahead of inflation data
Strategic investments like Volkswagen's $5 billion in Rivian signal a shift towards sustainable energy. The market anticipates further developments in the electric vehicle sector. Investors carefully analyze such moves, impacting stock performances and sector trends. The market remains dynamic, responding to key catalysts and economic indicators for future insights.
AI drinks energy up - quantum computing will work to our advantage, but the tech is new
The rapid advancement of computing over the past 70 years, driven by increases in computing power, has revolutionized various sectors such as banking, communication, healthcare, product design, and warfare. Semiconductor chip technology plays a crucial role in this growth. However, the future of computing faces a significant challenge due to the increasing power needs of AI innovations like ChatGPT. This surge in demand poses a threat to the sustainability of global energy resources and the environment.
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Saddle up the new bronco
Of the lot, all save Apple run and enable AI applications. Apple's stock price went up recently, after it, too, announced some of its own AI offerings. What does the dominance of tech companies mean for humanity? Does society need to arm itself with anything new either to take advantage of evermore ubiquitous AI, or to guard against possible harm from such prevalence of AI?
US lawmakers questions FDAs drug inspection programme in India and China
Three top American lawmakers have raised concerns about the FDA's foreign drug inspection program in India and China. In a letter to FDA Commissioner Robert Califf, they highlighted inconsistencies in inspection outcomes from January 2014 to April 2024. Some inspectors reported no compliance issues in numerous inspections, while others found issues in almost every inspection. The lawmakers, Cathy McMorris Rodgers, Brett Guthrie, and Morgan Griffith, pointed out these discrepancies and called for an investigation into the skill and thoroughness of FDA inspectors to ensure rigorous and consistent inspections.
Clearly inform customers about starting date of warranty period: CCPA to electronic appliance makers
CCPA Chief Commissioner Nidhi Khare urges electronic appliance manufacturers to clarify warranty start date and address consumer grievances promptly.
Two killed in Gurugram fireball manufacturing factory explosion
Two people were killed in an explosion at a fireball manufacturing factory in Gurugram's Daulatabad Industrial Area. The incident occurred late at night on Friday, prompting the deployment of 24 fire tenders that managed to bring the fire under control. At least three to four individuals were injured and taken to the hospital. Nearby buildings suffered damage.
TRAI calls upon MIB to establish credible measurement system for TV, radio, OTT
The Telecom Regulatory Authority of India (TRAI) has recommended establishing a transparent audience measurement system for television, radio, and OTT services to the Ministry of Information and Broadcasting. It suggests revamping the existing system, expanding sample sizes, encouraging multiple rating agencies, and utilising advanced technologies. TRAI also proposes granting infrastructure status to the broadcasting sector to boost investment, streamlining processes, measuring broadcasting's impact on GDP, implementing a policy for the AVGC sector, and expanding TV reach through broadband infrastructure and subsidised schemes for underserved populations.
Herd on PE Street: TPG outruns everyone in race for Altimetrik
Last month, its Asia-focused fund TPG Asia VIII secured $5.3 billion in aggregate capital commitments. That made it the firm’s largest Asia fund in 30 years of investing in the region. Since inception, TPG Asia has ploughed more than $13 billion into core sectors including consumer, healthcare, financial services and TMT/new economy and the fund has realised more than $16 billion, according to its website.
In search of 'decent work'
Former RBI Dy Guv Mohan said India could not break out of lower-income levels without massive employment in low-wage manufacturing. Lack of 'decent jobs' was so acute that Uttar Pradesh had 4 mn applicants for 60,000 constable jobs. India's labour force participation was barely 50% against 78% for Vietnam, 76% for China, and 65% for Indonesia. This underemployed mass could not be employed fully in services. So, it was essential to boost manufactured exports - that alone would produce enough 'decent jobs'.
India's electronic manufacturing likely to double in the next five years: Govt sources
India's electronic manufacturing is likely to double in the next five years, according to sources in the Ministry of Electronics and Information Technology. The country's electronic manufacturing is likely to reach around USD 250 billion in the next 5 years, said a source in the ministry.
Informal sector shows resilience, witnesses recovery post-pandemic: Survey
The informal sector faced a severe blow during the second wave of the pandemic, leading to a reduction in the number of units and workers. However, a gradual recovery was observed after the July quarter of 2021, according to the findings of an official survey reported by TOI. The annual survey of unincorporated sector enterprises (ASUSE) revealed the resilience of the informal sector, with the total number of establishments increasing from 5.8 crore in 2021-22 to 6.5 crore in 2022-23, marking a growth of nearly 5.9%.
Industry executives a worried lot: Why India-China tensions are equal to a big headache for electronics makers
Indian electronics manufacturers have suffered $15 billion in production losses and 100,000 job cuts due to escalating tensions with China. Visa delays for Chinese executives are hindering the industry's expansion plans, leading to a $10 billion export opportunity loss and $2 billion in value addition loss. Government probes into Chinese companies operating in India have further impacted the sector.
Informal manufacturing and services gained during FY23, trade share declined: Govt data
The gross value added of unincorporated manufacturing companies increased by 19.14% to ₹3.6 lakh crore in 2022-23 (October-September) compared with ₹2.77 lakh crore in 2021-22 (April-March), data released by the Ministry of Statistics and Programme Implementation showed.
Mumbai ice cream with human finger was manufactured in Ghaziabad
Yummo ice cream (Google Trends): In Mumbai, Dr. Brendan Ferrao discovered a human finger in an ice cream from Laxmi Ice Creams. Ordered online, the butterscotch cone contained the shocking find, prompting Ferrao to contact Yummo, then Malad police. Yummo pledged cooperation as police filed an FIR under IPC sections. The finger was sent for forensic testing, with experts unsure of reattachment due to potential contamination.
Sales of listed private non-financial cos register 6.9 pc growth in Q4 of FY24
Sales of listed private non-financial companies registered a growth of 6.9 per cent in the fourth quarter of 2023-24 compared to a 5.5 per cent rise in the previous quarter, according to the Reserve Bank data released on Thursday. The sales growth of these companies was 8 per cent in the January-March quarter of 2022-23.
Ashwini Vaishnaw takes charge of IT ministry; promises focus on tech, manufacturing
Taking charge of Ministry of Electronics and IT (MeitY), he said the Modi government's Digital India initiatives have empowered the common man, bringing transformative changes through Jan Dhan, Aadhaar, and other enabling programmes over the last 10 years.
Rural demand theme blooms
Investor money is shifting to defensive shares like FMCG, healthcare, and information technology following the lower-than-anticipated seats for the BJP in recent elections. Marico, Godrej Consumer, Nestle India, ITC, Britannia, HUL, and Dabur saw significant gains. The Nifty and NSE FMCG Index also rose.
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.
IPO Calendar: Primary market continues to remain vibrant with 2 new issues, 6 listings next week
Despite general election uncertainty, the primary market remains active with upcoming IPOs like Kronox Lab Sciences and Sattrix Information Security. Analysts foresee a wave of IPOs post-elections, driven by increased domestic capital, improved governance, and supportive government policies.
‘Doctors knew Covid vaccine’s side-effects killed my daughter. But they didn’t tell us’
Dr Snehal Lunawat was the first case in which the AEFI committee accepted there was a direct correlation between vaccination and death. Many of the petitioners, like her father Dilip, have questioned why information about the side-effects wasn’t made public earlier.
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.
Delhi HC dismisses PIL to mandate all medical professionals to specify possible risks of associated drug
The Delhi High Court has dismissed a Public Interest Litigation (PIL) seeking direction from the Centre to mandate all medical professionals practicing in the country to specify to a patient (in the form of an additional slip in the regional language) along with the prescription all kinds of possible risks and side effects associated with a drug or a pharmaceutical product being prescribed.
Make farmers better informed about risk
Then it's expected to trend down sharply because of the high base during last year's scattered and inadequate monsoon. Dependence of retail inflation on the weather is becoming more volatile with the rising frequency of extreme events. Supply responses like export bans and stocking limits don't address rising volatility, and with it headline inflation that serves as a key macro target.
Hyderabad engineer arrested in Gujarat for allegedly spying for Pakistan
An aeronautical engineer was arrested in Bharuch, Gujarat, for allegedly spying for a Pakistani intelligence agency. Pravin Mishra, employed with a Hyderabad firm specializing in missile and drone components, is accused of gathering and passing on confidential information about the Indian armed forces and defence-related research to Pakistan. Mishra's arrest is part of a broader investigation into an espionage network involving individuals associated with missile system development and organizations like DRDO and HAL.
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