ET reported that Mahindra & Mahindra wants to build an SUV that weighs less than a tonne, Maruti has saved INR 147 crore by working on one gram weight reductions on components all because customers want lighter cars that drink less fuel and cause less pollution. Cars have become sophisticated machines compared to what they were in the seventies. For example, engines can now think and make independent…

Set up a technology upgradation fund of foundry industry for green & productive technology Indian foundry sector is the feeder industry to the manufacturing sector as it supports sectors like auto, auto components, railways, electric, cement etc which are the major contributors to India’s GDP. The Indian foundry industry is third largest globally with revenue at $ 18 billion & exports of approximately $ 2.7…

The country's largest carmaker Maruti Suzuki India said it will invest INR 4,000 crore to set up new manufacturing facility in Gujarat by 2015-16. The company said the new plant at Mehsana will be set up in a phased manner with overall capacity of 250,000 units in the first phase. The company in a statement said that MSI signed State Support Agreement with the government of Gujarat for purchase of land near…

Import duty on scrap makes local recycling uncompetitive, import intensifies, India may lose Rs 11000-cr exports markets Hit hard by the recent levies of import duty on scrap, around 4,500 metal recycling units are facing closure due to cheaper import from Asian countries; worse is in store with the process of signing Free Trade Agreements (FTAs) with these countries. There is now a tariff of 2.5 to five…

Metals are expected to benefit with rising automobile sector in India. The country's automobile sector is expected to grow between 1-15% in 2011-12 with good economic forecast, higher disposable income and increasing rural demand, according to Pawan Goenka, President of Society of Indian Automobile Manufacturers (SIAM). Metal prices were low in recent weeks due to Japan tsunami and Chinese monetary…

Metso announced in 2018 a greenfield foundry project in Vadodara, India, with a target to increase the casting wears capacity for the mining and aggregate industries. The First Pour event was celebrated in India today, and the foundry will start production for customer deliveries for local and global markets in February. “The state-of-the-art foundry will have a strong role in our global foundry network by…

ET reported that the Miglani family has acquired Brahmani Industries, a Greenfield steel plant being built in Kadapa, Andhra Pradesh, by the controversial Reddy brothers, who also own mines and large tracts of land in the mineral rich Bellary region of Karnataka. As per report, on March 24, Brahmani Industries convened an extraordinary general meeting to approve change of its name to Uttam Galva Ferrous.…

PM inaugurates IISCO's new plant at Burnpur Prime Minister Narendra Modi said on Sunday that India needed to stop exports of mineral resources and instead should export metals. Speaking at the inauguration of the 2.5 million tonne new IISCO plant at Burnpur in West Bengal, the Prime Minister said the Centre was working towards policy change so that the mineral rich eastern States returned to the higher…

Indian companies plan to invest close to $100 million in a variety of projects in Bangladesh. According to a report of The Hindu’s Business Line, a number of Indian and Bangladeshi companies signed joint venture agreements for projects in sectors such as limousine services, manufacturing three-wheelers and software development during road shows held in Chennai and Mumbai recently. The private sector…

After TATA Consultancy Services, TATA Power and TATA Teleservices, Mr Cyrus Mistry has joined the board of Tata Steel as an additional director. Mr Mistry, who would succeed Ratan Tata as the chairman of TATA Sons in December, would be joined by Ms Mallika Srinivasan, chairperson of Tractors and Farm Equipment Ltd. Sourced from Business Standard