Industrial Sector
India witnesses 5.7 per-cent growth in industrial production in July
For July 2023, the quick estimates of index of industrial production (IIP) with base 2011-12 stood at 142.0.
Combined index of 8 core industries increases by 8% in July 2023
The production of coal, steel, natural gas, cement, electricity, refinery products, fertilisers and crude oil increased in July 2023 over the corresponding month of last year.
Foxconn withdraws from JV for chip manufacture, Vedanta to go ahead
Foxconn was supposed to execute a $19.5 billion semiconductor joint venture with metals to oil conglomerate Vedanta. Foxconn and Vendanta had signed a MoU in 2022 to establish semiconductor and display production parts in Gujarat, the home state of PM Modi.
Nick Read steps down as Vodafone Group head
The company's Chief Financial Officer (CFO) Margherita Della Valle has been appointed interim Group Chief Executive, the company said in a statement. Read will step down as Group Chief Executive and as a Director of Vodafone on December 31, following which he will be available as an adviser to the Board untilA March 31, 2023.
Maharashtra Police book Anahita Pundole for 'negligent' driving leading to Cyrus Mistry's death
The Palghar police have filed a case against Anahita Pundole (55), who was said to be speeding the illfated Mercedes Benz on a bridge over Surya river on the Ahmedabad-Mumbai National Highway. Besides Mistry, Jehangir Dinshaw Pundole was also killed in the crash while his brother Darius Dinshaw Pundole and sister-in-law Anahita received serious injuries.
Sparkling bright or a dark Diwali? Fireworks industry in suspense
With Diwali this year to be celebrated next month - and virtually without any curbs and the Covid pandemic wanes, the question gains more importance. Production of fireworks in Sivakasi in Tamil Nadu's Virudhunagar district, is yet to pick up even as there is just a month to go for the festival of lights, industry officials said.
India's industrial production growth less than estimates: Morgan Stanley
On a seasonally adjusted sequential basis, IP contracted by 7.1 per cent month on month (MoM), versus growth of 2.5 per cent in June. According to the report, although growth slowed across the board, mining was the only sector to contract, by 3.3 per cent. Manufacturing activity growth slowed to 3.2 per cent, and electricity production to 2.3 per cent.
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