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  • India sees strong growth in some key minerals, non-ferrous metal production in April-Aug

    India sees strong growth in key mineral, non-ferrous metal production in April-Aug

    India sees strong growth in key mineral, non-ferrous metal production in April-AugIANS

    India saw a strong growth in production of some key minerals in the April-August period this fiscal, and iron ore accounted for about 70 per cent of the total mineral production by value, the government said on Saturday.

    Robust growth was seen in the production of key minerals and non-ferrous metals, after reaching record production levels in FY24.

    As per the Ministry of Mines, production of iron ore was 274 million metric tonnes (MMT) in FY24.

    In the first five months this fiscal, production of iron ore reached 116 MMT, showing a healthy 7.4 per cent growth from 108 MMT in the same period in FY24 (as per provisional data).

    Production of manganese ore jumped by 15.4 per cent to 1.5 MMT in FY25 (April-August) from 1.3 MMT during the corresponding period of previous year.

    According to the ministry, in the non-ferrous metal sector, primary aluminium production posted a growth of 1.3 per cent over the corresponding period last year, increasing to 17.49 lakh tonnes (LT) from 17.26 LT in FY24 (April-August).

    crystal-shaped features on Mars

    India is the second largest aluminium producer, among top 10 producer in refined copper and fourth largest iron ore producer in the worldNASA/JPL-Caltech/MSSS

    During the same comparative period, refined copper production has grown by 5.8 per cent from 1.91 LT to 2.02 LT.

    India is the second largest aluminium producer, among top 10 producer in refined copper and fourth largest iron ore producer in the world.

    According to the ministry, continued growth in production of iron ore in the current financial year reflects the robust demand conditions in the user industry — steel.

    The country saw robust growth in production of key minerals, such as iron ore and limestone, in the first quarter of FY25.

    “Coupled with growth in aluminium and copper, these growth trends point towards continued strong economic activity in user sectors such as energy, infrastructure, construction, automotive and machinery,” the ministry noted.

    (With inputs from IANS)

     

  • Breakthrough study identifies genes that regulate renin production, sheds light on blood pressure control

    Scientists have uncovered genes which act as “switches” and trigger cells in kidneys to produce renin, an enzyme that helps one control their blood pressure.

    A person getting their blood pressure checked. Representational image. Photo courtesy: Unsplash
    A person getting their blood pressure checked. Representational image. Photo courtesy: Unsplash

    Normally, ‘smooth muscle cells’ which line the inside of blood vessels are known to help control blood pressure by contracting and relaxing. However, when blood pressure falls and stays low for a long period, these cells in kidneys’ blood vessels help maintain it by producing the enzyme renin.

    But it was uncertain as to which genes trigger this “changeover” in the smooth muscle cells of the kidneys, researchers at the University of Virginia, US, said.

    In this study, published in the journal Hypertension, the team looked at the biological processes involved when renin is produced and identified nine genes playing a key role in three of these processes.

    ALSO READ: Study reveals dizziness in seniors increases fall risk by 60 percent

    These genes are the “switches” doing both, making the smooth muscle cells to stop producing renin and triggering them to resume when needed, the researchers explained.

    They added that while these cells stop producing renin naturally, they remain “poised” to jump back into action.

    Senior scientist Jason P. Smith. Photo courtesy: https://jpsmith5.github.io/
    Senior scientist Jason P. Smith. Photo courtesy: https://jpsmith5.github.io/

    “We expected to find the region in your genome where this gene is located to be inaccessible when renin is turned off, but it turns out this spot stays generally accessible in cells that are ready to be called into action when more renin is needed,” author Jason P. Smith, a senior scientist at the department of pediatrics, University of Virginia, said.

    “Ultimately, since renin is so critical for our own health, a better understanding of how our bodies control its production may prove foundational to how we treat hypertension (high blood pressure) and the long-term effects of common blood pressure medications on kidney function and disease,” Smith said.

    ALSO READ: Proper hypertension treatment can avert 76 million deaths between 2023 and 2050: WHO report

    The results help understand how one’s body controls blood pressure, said author R. Ariel Gomez, a researcher at the Child Health Research Center, University of Virginia.

    “Knowing how vascular cells change their identity could help develop new medications to treat high blood pressure and vascular diseases,” Gomez said.

  • NMDC’s 66th AGM Highlights Historic Production and 100MT Vision for 2030

    HYDERABAD: NMDC, India’s largest iron ore producer, conducted its 66th Annual General Meeting (AGM) at its corporate office in Hyderabad. The meeting was chaired by Shri Amitava Mukherjee, CMD (Additional Charge), NMDC, who addressed the shareholders, highlighting the company’s record performance and its strategic roadmap for future targets.

    During the AGM, Shri Mukherjee emphasized NMDC’s commitment to delivering strong volumes and meeting the domestic iron ore demand. NMDC achieved the 45MT milestone in FY24, becoming the first iron ore mining company to achieve that target, and also recorded a significant increase in sales, reaching 44.48 MT. The company’s revenue rose by 21% to Rs. 21,294 crores, with Profit After Tax (PAT) at Rs. 5,632 crores, a 2% increase from the previous year and the company’s EBITDA also saw a 28% growth.

    Shri Amitava Mukherjee, CMD (Addl. Charge) stated, “NMDC’s operational excellence, financial prudence, and strategic agility have strengthened our position as a leader in the mining sector. Looking ahead, NMDC is committed to forging a path of sustainable growth and strategic capacity expansion, driven by an ambitious vision to reach 100 MT company by 2030.”

    Global and Domestic Market Performance

    Shri Mukherjee provided an overview of the global iron ore market, noting a stable production rate despite fluctuations due to geopolitical tensions. India recorded strong growth in iron ore production, and NMDC’s contribution to the sector was vital, securing a 16% market share in FY24.

    Domestically, NMDC played a crucial role in supporting India’s infrastructure development, driven by a robust economic environment. India’s GDP growth for FY24 stood at 8.2%, significantly above the global average.

    Operational Milestones and Strategic Projects

    The company’s major mining projects in Chhattisgarh and Karnataka achieved their highest-ever annual production volumes. NMDC also made significant strides in resolving bottlenecks in pellet production and enhancing supply chain resilience, including the commencement of operations at its Kumar Marenga stockyard and the implementation of a 10 MTPA Rapid Wagon Loading System.

    A notable achievement in FY24 was the commencement of gold mining at Mount Celia in Western Australia through its subsidiary, Legacy Iron Ore Limited. The company also resumed its operations at the Panna Diamond Mines in Madhya Pradesh.

    Response to Climate Change and ESG Initiatives

    NMDC reaffirmed its commitment to environmental sustainability, with ongoing efforts to reduce carbon emissions through eco-friendly ore transportation and renewable energy investments. Shri Mukherjee highlighted NMDC’s plan of laying a 15MTPA slurry pipeline, doubling the Kirandul-Kothavalasa railway line from 28 MTPA to 40 MTPA, and investing in solar and wind energy projects. NMDC is also exploring opportunities to mine critical minerals like lithium and cobalt.

    The company’s ESG performance remains strong, with focused efforts on reducing greenhouse gas emissions, enhancing biodiversity conservation, and executing transformational CSR initiatives. NMDC’s flagship social programs, such as Shiksha Sahayog Yojana and Balika Shiksha Yojana, continue to make a positive impact in rural and tribal communities.

    Corporate Governance and Strategic Outlook

    Shri Mukherjee reiterated NMDC’s commitment to upholding the highest standards of corporate governance, ensuring transparency and accountability in its operations. NMDC’s long-term vision includes expanding its production capacity and contributing to India’s National Steel Policy, which aims to increase steel production capacity to 300 MT by that year.

    “As we advance toward NMDC 2.0, we are guided by innovation, sustainability, and a shared purpose. Our new logo symbolizes our commitment to responsible mining and growth, and we are confident that with the support of our stakeholders, NMDC will continue to thrive,” said Shri Mukherjee.

    The AGM concluded with shareholders expressing their continued support for NMDC’s ambitious growth plans and its dedication to creating long-term value for all stakeholders.

  • India clocks record foodgrain production at 3,323 lakh metric tonnes in 2023-24

    Centre fixes 320 lakh tonnes wheat procurement target, 6 lakh tonnes for millets

    Centre fixes 320 lakh tonnes wheat procurement target, 6 lakh tonnes for milletsIANS

    India clocked record foodgrain production at 3,322.98 LMT (lakh metric tonnes) in the agriculture year 2023-24 — higher by 26.11 LMT than the production of foodgrains at 3,296.87 LMT achieved during agriculture year 2022-23, the Centre said on Wednesday.

    The foodgrain production saw a record increase due to good results with rice, wheat, and millet crops.

    Total rice production is estimated at a record 1,378.25 LMT in the year 2023-24 — up by 20.70 LMT from the previous year’s rice production of 1,357.55 LMT.

    Meanwhile, wheat production during 2023-24 is estimated at a record 1,132.92 LMT — higher by 27.38 LMT than 1,105.54 LMT last year, as per the Ministry of Agriculture and Farmers’ Welfare’s final estimates of production.

    The production of millets is estimated at 175.72 LMT, as compared to 173.21 LMT during the previous year.

    FARMER

     Foodgrain production saw a record increase due to good results with rice, wheat, and millet cropsIANS

    “During 2023-24, there were drought-like conditions in southern states, including Maharashtra and prolonged dry spells during August, especially in Rajasthan. The moisture stress from the drought also affected the Rabi season. This mainly impacted the production of pulses, coarse cereals, soybean, and cotton,” the ministry noted.

    While nutri/coarse cereals recorded 569.36 LMT production, maize was at 376.65 LMT, total pulses at 242.46 LMT, tur at 34.17 LMT, gram at 110.39 LMT, total oilseeds at 396.69 LMT, groundnut at 101.80 LMT, soybean at 130.62 LMT, sugarcane at 4531.58 LMT, and cotton at 325.22 lakh bales (170 kgs each), informed the ministry.

    The estimates have been primarily prepared on the basis of information received from states and UTs. The crop area has been validated and triangulated with information received from Remote Sensing, Weekly Crop Weather Watch Group and other agencies. Crop yield estimates are majorly based on Crop Cutting Experiments (CCEs) conducted nationwide.

    Meanwhile, the area sown under commercial or cash crops such as sugarcane, cotton, jute, and mesta has increased from 18,214.19 thousand hectares in agriculture year 2021-22 to 18,935.22 thousand hectares in agriculture year 2023-24, as per the latest government data.

    (With inputs from IANS)

  • The Influence of Global Supply Chains on Automotive Production

    There is no denying the fact that yesterday’s supply chain solutions were ineffective in addressing today’s automotive concerns. Thus, it is necessary to reconsider how to build and manage global supply chain issues in automotive production in the modern era.According to Mordor Intelligence, the market size of the automobile industry in India is expected to reach $187.85 billion by 2029, growing at a CAGR of 8.20% during the forecast period (2024-2029). However, the automotive sector exemplifies the pinnacle of modern industrial intricacy and effectiveness.

    In fact, in recent decades, the advent of global supply chains has profoundly transformed car production, enabling the creation of vehicles at unprecedented volumes and speeds. However, this shift has introduced its own set of challenges and opportunities. So, let’s delve into how global supply chains have reshaped car manufacturing, highlighting the advantages, potential risks, and the industry’s evolving nature.

    How Supply Chain Affects Car Industry

    Over the last few decades, the landscape of automotive production and supply chain has changed dramatically. Historically, automakers relied on localised supply networks, procuring components and raw materials from nearby areas. However, as the world has changed, firms have expanded their sourcing to international vendors to improve efficiency and save costs.

    Here are some advantages. So, let’s look at it:

    Cost Efficiency: One of the primary benefits of global supply chains is cost reduction. By sourcing parts from regions with cheaper labor and production costs, manufacturers can achieve significant savings. This has led to reduced vehicle prices for consumers and higher profit margins for manufacturers.

    Access to Specialised Parts: Global supply chains enable manufacturers to obtain specialised components and materials not available locally. For instance, high-tech electronic systems or advanced materials can be sourced from specialised global suppliers, improving vehicle performance and quality.

    Enhanced Flexibility and Scalability: A global supply chain allows manufacturers to rapidly adjust production levels and respond to fluctuating demand. This agility is essential in an industry where consumer preferences and market conditions can change swiftly.

    Innovation and Expertise Exchange: Collaborating with international suppliers fosters innovation and the exchange of knowledge. This is where manufacturers are getting benefits from the global expertise and technological advancements of their suppliers, leading to superior vehicle designs and functionalities.

    Challenges in Global Car Manufacturing

    Despite the numerous benefits, global supply chains also present several challenges and risks for car manufacturers:

    Supply Chain Disruptions: Global supply chains are susceptible to interruptions from geopolitical tensions, natural disasters, and pandemics. The COVID-19 pandemic, for example, underscored the vulnerability of global supply chains as manufacturers experienced shortages of essential components and production delays.

    Quality Assurance: Maintaining consistent quality across a broad network of suppliers can be challenging. Variations in supplier standards and practices can lead to quality issues, impacting vehicle reliability.

    Logistical Complexity: Managing a global supply chain involves coordinating multiple suppliers, transportation routes, and regulatory requirements. This complexity can result in inefficiencies and higher costs if not effectively managed.

    Ethical and Environmental Issues: Sourcing components from various regions raises concerns about labour practices, environmental impact, and sustainability. These issues have become increasingly important to both consumers and regulators.

    Supply Chain Optimisation in the Auto Industry: Adapting to the New Reality

    To navigate the challenges associated with global supply chains, car manufacturers are adopting several strategies:

    Today, businesses are expanding their pool of suppliers to decrease reliance on single sources. This approach helps minimise the impact of disruptions and ensures a more dependable supply of crucial components. Moreover, they are leveraging technological advancements such as blockchain and artificial intelligence to enhance supply chain transparency and efficiency. These tools improve real-time tracking of components, forecasting accuracy, and logistical optimization. Additionally, manufacturers are placing increased emphasis on sustainability within their supply chains. This involves efforts to reduce environmental impacts, ensure ethical labor practices, and develop sustainable materials. Finally, manufacturers are moving production closer to key markets to cut costs. This reshoring or nearshoring strategy reduces dependency on distant suppliers and enhances responsiveness.

    Future of Automotive Supply Chains

    Looking forward, several trends are likely to shape the future of global supply chains in car manufacturing:

    • The move towards electric vehicles (EVs) and new technologies will have an impact on supply chain dynamics. Manufacturers will need to adjust to new components, such as batteries and electric drives, and develop new supply chain strategies to support these innovations.
    • Additionally, the ongoing digitalisation of the automotive industry will continue to influence supply chains. Technologies like the Internet of Things (IoT), big data analytics, and automation will play a crucial role in improving supply chain management and operational efficiency.
    • Furthermore, the lessons learned from recent disruptions will lead to a focus on creating more resilient and agile supply chains. Manufacturers will invest in strategies to better predict and address disruptions, ensuring stability and continuity in production.
    • Finally, as consumer expectations change, manufacturers will need to align their supply chains with demands for greater transparency, sustainability, and ethical practices. Meeting these expectations will be crucial for maintaining brand reputation and competitiveness.

    Adaptability: Key to Grow!

    Without a doubt, global supply chains have had a huge impact on vehicle manufacture, promoting efficiencies, innovation, and market expansion. However, they present new issues in terms of disruption, quality control, and sustainability. Therefore, as the automotive industry evolves, manufacturers must traverse these complexities while adjusting to new technology, market trends, and consumer demands.

  • Soulflower Crosses Record Breaking Production Of 300,000 Units Per Month

    Soulflower Crosses Record Breaking Production Of 300,000 Units Per MonthMumbai, 12th September 2024: This year, Soulflower achieved a record-breaking monthly production of 300,000 units using core ingredients sourced directly from organic farms, propelling the brand to become one of the largest Farm to Face beauty brands in India. The brand expects to cross the production of half million units per month by November 2024 and six million units in a year.

    “Our Farm to Face concept came into being in 2021 by establishing a 9-hectare farm in Banswara, Rajasthan. Here we grow and nurture more than 1,200 trees to cultivate over 100 kilograms of herbs organically. This initiative not only supports the production of all-natural hair growth, skin care and personal care essentials but also trains and empowers local tribal women and youth about modern sustainable farming methods,” says Ms. Natasha Tuli, Co-Founder & CEO, Soulflower.

    Soulflower prides itself on transparency, ensuring that all ingredients are clearly listed on its product labels—no hidden or confusing names. As a PETA-approved brand, Soulflower is committed to cruelty-free practices, using no animal-derived ingredients and never testing on animals. The brand also prioritizes sustainability by incorporating innovative methods to use recyclable and eco-friendly materials throughout its production and packaging processes.

    “This is a remarkable achievement considering that our cultivation is almost entirely driven by local farmers and ingredients are harvested in small batches to ensure maximum potency and efficacy in each of our product,” adds Ms. Tuli.

    Recognized as India’s first Farm to Face beauty brand, Soulflower has revolutionized the concept of clean beauty by ensuring that the journey of its products, from raw ingredients to finished goods, is entirely transparent and sustainable. The brand’s commitment to cruelty-free and high-efficacy solutions aligns with the growing global consciousness towards ethical consumerism.

    “We integrate environmental sustainability into the brand’s ethos, ensuring that Soulflower’s footprint is as gentle on the earth as it is effective on hair and skin,” concludes Ms. Tuli.


    Mansi Praharaj

  • Apple’s India Production to Hit 25% of Global Shipments by 2025

    iPhone production in India to reach 25 pc of global shipments by 2025: Jefferies

    IANS

    Apple’s manufacturing footprint in India is set to expand significantly, with projections indicating that the country will account for 25% of global iPhone shipments by 2025. This development is a witness to the success of the Indian government’s ‘Make in India’ initiative and the production-linked incentive (PLI) scheme, which have collectively stimulated Apple’s local manufacturing capabilities.

    In 2017, iPhone production in India accounted for less than 1% of global output. However, by 2023, this figure had risen to 10%, demonstrating the rapid growth of India’s electronics manufacturing sector. The PLI scheme, in particular, has played a pivotal role in this expansion, offering financial incentives to companies that increase their manufacturing capacity in the country.

    Apple’s commitment to expanding its manufacturing footprint in India is further evidenced by its preparation for the launch of the latest iPhone models in the country. The tech giant is set to make its ‘Make in India’ iPhone 16 Pro and 16 Pro Max models available in the country immediately after the global launch.

    The expansion of Apple’s manufacturing operations in India is also expected to create significant employment opportunities. Industry sources predict that Apple will create between 500,000 and 600,000 direct and indirect jobs in the country over the next 1-2 years. This job creation is facilitated by the government’s PLI scheme, which has incentivized Apple and its suppliers to increase manufacturing in the country.

    iPhone production in India to reach 25 pc of global shipments by 2025: Jefferies

    IANS

    The growth of Apple’s operations in India is also reflected in the sharp increase in iPhone exports from the country. In the fiscal year 2023-2024, iPhone exports surged to $12.1 billion, up from $6.27 billion in the previous fiscal year. This growth underscores India’s emerging role as an export hub for Apple’s devices.

    The Indian government’s PLI scheme has not only boosted the electronics manufacturing sector but also aims to foster the growth of the semiconductor and display manufacturing industries. The government is providing financial incentives across 14 sectors worth Rs 2 lakh crore, with an additional Rs 70,000 crore earmarked to boost the semiconductor and display manufacturing ecosystem.

    However, the growth of the electronics manufacturing sector is not without challenges. The sector is grappling with issues such as information asymmetry, where government bureaucrats often lack the knowledge to effectively allocate subsidies and protectionist policies. There is also the risk of crony capitalism, where politically connected firms secure government support for reasons unrelated to their technological and managerial competence.

    Despite these challenges, the electronics manufacturing sector in India and the broader Asia-Pacific region is poised for continued growth. With the right policies and incentives in place, these regions can capitalize on the opportunities presented by the global shift towards digitalization and smart manufacturing.

  • Roadblocks in India’s Electric Vehicle Production: What’s Slowing Progress?

    Ever since smart devices were introduced, it has become much easier to embrace complex and expensive technology. This introduction has not only made our personal lives easier, but it has also made professional lives in a variety of other fields less complicated than ever before. Among various industries, the automobile industry is no exception. The fundamental shifts have transformed the automobile industry into a hotbed of innovation, with electric vehicles leading the charge.

    According to IBEF, India is poised to become the largest EV market by 2030, with a massive investment opportunity of over $200 billion in the next 8–10 years. This growth is being driven by evolving consumer preferences, government incentives and advances in automotive production, among others, for an eco-friendly future of the auto industry.

    In this context, as the world shifts towards a more sustainable future, the electric vehicle (EV) sector will gain more momentum, presenting new opportunities for job creation and economic growth in the sector. But, despite the government’s efforts to promote EV adoption, challenges, such as infrastructure development and costs, continue to pose significant obstacles.

    Here let’s delve into a few obstacles hindering the growth and future of vehicle production:

    i) Limited Consumer Awareness

    One of the significant obstacles hindering the growth of the EV sector is the consumer itself. A few early adopters and forward-thinking are eager to get behind the wheel of an EV, but others aren’t so sure. Many potential buyers are still unaware of the benefits of electric vehicles, such as lower operating costs and reduced environmental impact. This lack of awareness can slow down adoption rates and hinder market growth in the long run.

    ii) Charging Infrastructure Limitations

    Infrastructural issues inhibit India’s goal of full EV adoption. In fact, because of differences in engines and other operational components, EVs necessitate a separate charging and maintenance infrastructure than traditional ICE vehicles. However, India’s current charging infrastructure is insufficient to fulfill the increasing demand for EVs. The Ministry of Power reports that there are only 12,146 public EV charging points in India as of February 2, 2024, limiting the use of electric vehicles.

    iii) High Production Costs

    There is no denying the fact that electric vehicles and car production do not come cheap. By and large, EVs cost significantly more to produce than traditional gas-engine cars. For example, the average cost to produce a midsize electric vehicle is around $12,000, which is more than a comparable gas-powered vehicle. These high production costs can deter manufacturers from investing in EV production, limiting the variety and availability of electric vehicles for consumers.

    iv) Difficulty Finding a Technician

    Most auto owners discover that having their vehicle serviced by a dealer is much more expensive than using a reputable independent maintenance and repair company. With the EV sector being very tiny, there are only a few skilled EV repair technicians and even fewer certified individual shops. But, fortunately, EVs require less maintenance than gas-powered vehicles. For example, if an expensive component such as the battery pack, which can cost Rs. 15,000 per kWh or more depending on the EV model, needs to be replaced, there is little competition to help keep costs down.

    Despite advancements in the electric vehicle (EV) sector, there are still challenges related to production capacity and technology. To address this, AI in automotive manufacturing emerged as an advanced technology, streamlining production processes and elevating product quality. In fact, overcoming these hurdles will be vital for the industry’s expansion, achieving the government’s target of 30% EV adoption by 2030, as per NITI Aayog.

    Car Manufacturing Technology Trends

    Paving the way for a cleaner and more sustainable future for transportation, the good news is that innovations in car manufacturing are certainly helping to address challenges. For example, advancements in battery technology are extending the range of EVs and reducing charging times, making them more convenient for consumers. Additionally, improvements in manufacturing processes are driving down costs, making EVs more accessible to a wider range of consumers.

    Furthermore, the impact of automation on car manufacturing is certainly promising. These technologies can enhance production efficiency, improve product quality, and reduce costs. Thus, in the EV sector, automation is helping streamline battery production, while AI is optimizing charging systems and improving vehicle performance.

    Future of Vehicle Production in India: Promising

    Despite the obstacles faced by the EV sector in India, the future of vehicle production looks promising. In fact, with the government’s support, advances in automotive production technology and innovations in car manufacturing, the industry is poised for significant growth. According to IBEF, the Indian EV market is expected to expand to $113.99 billion by 2029, with a CAGR of 66.52%.

    In a nutshell, by adopting future trends in car manufacturing, advances in automotive production and innovations in car manufacturing, the industry can achieve sustainable growth and a bright future.

  • Centre sets 500 million tonnes domestic steel production by 2034

    Centre sets 500 million tonnes domestic steel production by 2034

    Centre sets 500 million tonnes domestic steel production by 2034IANS

    The Centre on Thursday set the target of achieving 500 million tonnes of steel production by 2034, urging the industry to find new ways towards low emission, high productivity, high quality and the use of artificial intelligence (AI).

    The country’s crude steel production shot up by over 35 million tonnes in the last four years, from 109.14 million tonnes in 2019-20 to 144.30 million tonnes in 2023-24, as per the latest government data last month.

    Addressing the ‘ISA Steel Conclave’ in the national capital, Union Minister of Commerce and Industry, Piyush Goyal, said the industry leaders should focus their energy on economies of scale through decarbonisation, as “green steel will be in more demand”.

    “This is India’s decade to show innovation, inclusion, collaboration and cooperation among different sectors of Indian industries to realise the vision of Viksit Bharat,” said the minister.

    Hailing the steel industry for branding domestic steel as a ‘Made in India’ product, Minister Goyal said it is a signal of “our growing Atmanirbharta”.

    “Steel made and consumed in India is reflective of our nationalist spirit,” the minister told the gathering.

    IIP

    Steel made and consumed in India is reflective of our nationalist spiritIANS

    The Commerce Minister also asked the industry to utilise AI to optimise production, reduce waste and improve efficiency across the value chain, urging the industry leaders to integrate indigenous machinery for domestic production.

    Meanwhile, India’s core sector, comprising industries such as coal, electricity, steel, and cement, posted a 6.1 per cent growth in July after having slowed to 4 per cent in June. The growth in steel production rose to a three-month high of 7.2 per cent in July, compared with 6.7 per cent in the previous month.

    At the event, Minister Goyal said that domestic industry should be given a level playing field, adding that the Centre will take up the issue related to Carbon Border Adjustment Mechanism (CBAM) in discussions with steel industry leaders to promote sustainable manufacturing in the sector.

    “The investments made in the capacity building will be beneficial in the long run,” he said, assuring the stakeholders that the government is fully committed to safeguard the interests of the industry.

    (With inputs from IANS)

     

  • Spark Minda to license EDS technology from Sanco for local EV component production • EVreporter

    Minda Corporation Limited (Minda Corp; NSE: MINDACORP, BSE: 538962), an automotive component manufacturer and part of the Spark Minda group, has entered into a Technology Licensing Agreement with Sanco Connecting Technology, Guangdong, China, a provider of Electric Vehicle (EV) connection systems. The agreement aims to expand Minda Corp’s product offerings in the EV market, focusing on Electrical Distribution Systems (EDS).

    The partnership will focus on the local development of EV connection systems, charging gun assemblies with sockets and accessories, bus bars, cell contact systems, Power Distribution Units (PDU), and Battery Distribution Units (BDU). This collaboration aims to support the local design, development, and manufacturing of advanced EDS solutions for the EV market in India, enhancing the vertical integration capabilities of Minda Corporation’s Wiring Harness Division and strengthen its role in the EV supply chain.

    Commenting on this development, Mr. Aakash Minda, Executive Director said, “We are excited to partner with Sanco, a collaboration that marks a significant milestone in our pursuit to deliver comprehensive and customised Electrical Distribution System (EDS) solutions to the EV market. This partnership signifies our shared commitment to offer innovative & sustainable mobility solution for the growing Electric Vehicle industry. By offering new age EV solutions, we will enhance the overall kit value across vehicle segments, with a commitment to achieve successful localization, delivering greater value for our customers.”

    Mr. Zhijian Zeng, Chairman of Sanco Connecting Technology (Guangdong) Co., Ltd., stated, “Sanco has chosen Minda Corporation as a strategic partner to expand our global footprint. This collaboration will significantly boost Sanco’s presence in India’s expanding EV market. By leveraging Minda Corporation’s strong relationships with global automakers and extensive local production and engineering capabilities, we aim to deliver world-class, technology-backed solutions to Indian OEMs.”

    Also read: Spark Minda secures INR 750 crore order to produce EV chargers

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