Industry News
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.
Government Plans Auction of 20 Mining Blocks for Critical Minerals in the Next 2 Weeks
The government has recently identified a list of critical minerals, such as lithium, cobalt, and titanium, essential for advanced technology sectors like electronics, telecom, transport, and defense.
DRI Conducts Searches at Havells India Office
Havells India confirmed that the search operation was carried out by the DRI, an agency responsible for curbing smuggling and investigating cases of commercial fraud.
Debt collections SaaS platform Credgenics raises $50 mn
“With these resources, we can extend our innovative debt recovery solutions to new markets, empowering individuals and businesses worldwide to regain control of their loan collections,” said Rishabh Goel, Co-founder and CEO, Credgenics. Since its launch in 2019, Credgenics has seen 7 times growth rate.
India's core sector output rises 8.2% in June
The production of all other industries, namely, steel, coal, cement, refinery products, natural gas, fertilisers, and electricity, went up in June 2023, according to data released by the Commerce Ministry. The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
Accel unveils Atoms 3.0 with sector-focused thematic cohorts for early stage firms
The programme was launched 21 months ago, and since then, Atoms has invested in 24 companies across two cohorts. These companies have since raised a total of over $160 million in funding. Applications for Atoms 3.0 will open by the end of May. Atoms is constantly evolving and looking to improve the programme for founders. With this new approach, the programme aims to foster a community of like-minded founders in the same domain who can collaborate and help each other succeed.
Core industries index rises 3.6% in March
However at the same time output of cement, electricity, and crude oil declined during the period under review. ICI measures combined and individual performance of production of eight core industries namely coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity.
India's industrial output rose by 5.6% in February 2023
Between April 2022 and February 2023, industrial output registered a growth of 5.5 per cent. The January IIP growth was revised to 5.2 per cent. The official data showed that manufacturing sector's output rose by 5.3 per cent in February 2023, while mining output rose 4.6 per cent, and power generation 8.2 per cent during the month under review.
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