Manufacturing sector of the Indian industry has consistently underperformed in the last few decades, with a mere 16-17% contribution to the GDP…Will PLI be able to increase the sector’s contribution and actualize its growth potential?
Textile and apparel manufacturer Raymond has recently laid off about hundreds of employees across departments in a cost-cutting drive amid coronavirus pandemic. According to a Business Insider report based on a viral Reddit blog post, the layoffs began as early as February as the group debt was already too high and a slowing economy was…
Indian smartphone maker Lava recently said that it will shift its production base from China to India. The company will reportedly also shift its design center, which employees 600 people, to the country. According to a Business Standard report, the recent move is because of the government’s new Production Linked Incentives (PLI) for manufacturers in…
The novel coronavirus outbreak has put brakes on the global economy. The once highly interconnected world has now imposed travel bans and countries have gone into a lockdown. Businesses are closed and employees are now asked to work from home. But the remote working concept is only limited to certain kinds of jobs. The manufacturing…
As India witnesses, a spike in coronavirus positive cases, organizations around the country have started increasing their precautionary measures to safeguard their employees during the time of a pandemic. The novel coronavirus, which originated in the Wuhan City of China is now spreading really fast in the state of Maharashtra. Responding to the increasing tensions…
Hero MotoCorp, the world and India’s largest two-wheeler company, recently announced that it is temporarily shutting down all its manufacturing facilities globally with immediate effect. The recent closure of the manufacturing is a result of the ongoing coronavirus pandemic. The company announced the closure through an official BSE filing, which read, “With the safety and…
Zetwerk, a Bengaluru-based manufacturing services platform has recently raised $2.2million in a fresh funding round from InnoVen Capital. The company was founded by Amrit Acharya, Srinath Ramakkrushnan and Vishal Chaudhary. The company specializes in connecting manufacturing companies with vendors and suppliers for customized products. On the other hand, the company also has a demand model…
Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, has announced a new partnership with Elisa Smart Factory, part of the Finnish telecommunications company Elisa, to market and deploy the latter’s industrial IoT (IIoT) and advanced analytics solutions to a wide range of manufacturers across the world. TCS works with…