Industry News
Advertisement
India's Industrial Production Sees 5.9% Growth in May
The growth drivers at the top in the manufacturing sector during May 2024 were "Manufacture of basic metals" at 7.8 percent, "Manufacture of pharmaceuticals, medicinal chemicals and botanical products" at 7.5 percent, with "Manufacture of electrical equipment" throttling past all of these at 14.7 percent, the official statistics indicate.
Explosive Growth Forecasted for Indian Fast Fashion, Projected to Surpass $50 Billion by FY31
Value for money combined with effortless access to the latest trends is a powerful combination that fast fashion in India possesses, changing consumer experiences. While there have been overall economic challenges, fast fashion has proved to be one of the resilient segments within the overall Indian retail landscape, says Kushal Bhatnagar, Associate Partner at Redseer.
May Sees India's Core Industries Grow by 6.3%
Coal production surged noticeably by about 10.2 percent in May, while that of steel increased by 7.6 percent during the same period.
Adani Ports Shine in World Bank's Global Container Port Performance Index
Ashwani Gupta, CEO and whole time director of APSEZ, expressed an overwhelming feeling and said that he felt proud of not only the continuous effort of his team but also the unwavering commitment shown by the company toward doing something extraordinary in customer service. The CPP Index is the index of repute which grades the port on parameters such as productivity, efficiency, and reliability; it makes for a very important source of reference for all stakeholders like governments, port authorities, development agencies, and private operators in trade, logistics, and supply chain services.
Government to Kick Off 10th Round of Commercial Coal Block Auctions Next Week
This means that coal extracted from these blocks can be sold directly in the open market by producers. The government began the commercial coal block auction process in June 2020. Over nine auction rounds, the Ministry of Coal has successfully auctioned 107 coal blocks, boasting a peak rated capacity of 256 million tonnes (MT). To date, 11 of these commercial coal blocks are operational. Last year, commercial blocks produced 17.5 MT of coal.
Ambuja Cements Expands Footprint with Rs 10,422 Crore Acquisition of Penna Cement by Adani Group
Funded internally, the acquisition is anticipated to increase Adani Cement's market share by 2% nationwide and by 8% specifically in south India. Ajay Kapur, CEO and Whole Time Director of Ambuja Cement, expressed that this acquisition marks a milestone in their growth trajectory, positioning Ambuja as a leading player across India's cement industry.
March Sees 4.9% Growth in India's Industrial Production
The manufacturing sector, a key provider of employment opportunities for recent graduates from the country's universities and engineering institutes, experienced a growth rate of 5.2 percent during the month.
March Sees Core Sector Industries Surge by 5.2%
Indeed, cement produced turned out to be a star performer, increasing by a remarkable double-digit growth of 10.6 percent, driven by increased demand from major infrastructure projects and a rebounding real estate sector. Steel production also increased by 5.5 percent in the period.
Unveiling the Dominance of 'Underdog' Founders in the Global Unicorn Landscape: Insights from a Recent Report
Surprisingly, the study uncovered that a staggering 70% of unicorns have founders who fit the underdog archetype, such as immigrants, women, and individuals from diverse racial backgrounds. This marks a significant departure from the traditional narrative dominated by male founders, with a noteworthy 17% of unicorns featuring female founders in 2023, as reported by TechCrunch.
Advertisement