India is under the scanner of the US Department of Commerce for alleged dumping of cheap steel pipes in the country thereby affecting the business of local manufacturers. The Commerce Department launched a probe against South Korea, India, Vietnam, the Philippines, Saudi Arabia, Taiwan, Thailand, Turkey, and Ukraine on alle
Tag: manufacturing
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POSCO considers abandoning steel project in Karnataka
Owing to its failure to get land for the proposed 6 million tonne per annum steel project in Karnataka, South Korean steel giant POSCO is considering to quit the project, reports suggest. The company is unable to get land for the project because of protests by local residents. Soon, the company would decide on whether to abandon the project, which involves setting up a steel mill i
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Govt to set up SPV for manufacturing advanced aircrafts
A High-Level Committee, headed by Prime Minister Manmohan Singh decided to set up a Special Purpose Vehicle (SPV) for development and production of a civilian aircraft, of a 70-100 seater range. According to the proposal, the proposed SPV would gain design capabilities from National Aerospace Laboratories (NAL), Hindustan Aeronautics Limited (HAL) and other institutions in
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PM clears Rs 450 bn plan of steel ministry
At a recent meeting of the high-level committee on manufacturing, Prime Minister Manmohan Singh cleared
a Rs 45,000 crore investment plan of the steel ministry. Singh approved the investment proposal for ultra mega steel plants (UMSP) considering that the expanding infrastructure sector would raise demand for steel in the country. However, Planning Commission and the ministries of coal and mines objected to the approval given by the Prim
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ONGC set to award vessel contract to Cochin Shipyard
Media reports indicate that ONGC is in the process of giving a contract to Cochin Shipyard for manufacturing a seismic ship. A seismic vessel carries equipment that sends down sound waves to the sea-bed and capture their reflections. Cables (called ‘streamers’) several kilometre long are laid is the water and an airgun is fired from the vessel. ‘Hydrophones’ on the cables, which lie at regular inter
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WPI inflation falls to 42-month low of 4.7%
Inflation as measured by the Wholesale Price Index (WPI) declined to a 42-month low of 4.7 per cent in May 2013 from 4.89 per cent in the previous month and 7.55 per cent in May 2012. The decline in the prices of manufactured items helped inflation to ease in May even as the price level of food articles rose. The prices of manufactured items declin
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Indian companies shall increasingly adopt LMS
Rahul Himatsingka, CEO, Essar Steel Logistics, explains to Sumantra Das how a robust logistics management system can help companies handle the complex supply chain system efficiently.
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Realty sector attracts $45 mn PE deals in April
Real estate sector attracted $45 million or 4 percent of the aggregate private equity (PE) deals in the country during April 2013. During the month under consideration, the economy witnessed $1.2 billion worth of PE deals through 48 transactions compared to $605 million in April
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CCI approves operation in 25 oil, gas blocks
The Cabinet Committee on Investment (CCI) approved 25 blocks for continued exploration of oil and gas in its latest meeting. These blocks involve a total of over $4.6 billion of investment. Of this, $2.71 billion of investment has already been made and further investment to the extent of $1.9 billion
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Factory output rises a tepid 0.6%
Factory output as measured by the Index of Industrial Production (IIP) grew a marginal 0.6 percent in February 2013 from the year-ago month. The cumulative growth for the period April-February 2012-13 over the corresponding period of the previous year stands at 0.9 percent