New Delhi: State-run BHEL on Tuesday said it will invest Rs 500 crore for setting up a manufacturing facility at Bhandara in Maharashtra. "BHEL is setting up a new Power Equipment Fabrication Plant at Bhandara in Maharashtra. The greenfield unit is being set up by the company at an initial investment of Rs 500 Crore and will provide direct employment to about 700 persons," BHEL said in a statement.
The foundation stone for the new unit was laid at Bhandara by Prithviraj Chavan, Chief Minister of Maharashtra. The ceremony was presided over by Agriculture Minister Sharad Pawar and Minister for Heavy Industries & Public Enterprises, Praful Patel and BHEL Chairman & Managing Director B Prasada Rao were also present on the occasion, the statement said.
In his address, Chavan said that electricity is one of the most vital elements for sustained economic growth. "We need commensurate growth in power supply and BHEL has taken various capacity and capability building initiatives towards this. Today's milestone is an outcome of such initiatives," Chavan said.
"Power is projected to grow at a much quicker pace in the coming years. The government has drawn up ambitious plans for adding additional 2,34,000 MW capacity to the power generating base by 2017," Pawar said in his address. Praful Patel said that BHEL's technology tie-up for super-critical boilers for 800 MW units is one such example which will enable the company to cater to the requirements of power stations with higher efficiencies and low
12:49 PM, May 14, 2013
New Delhi: Samsung India today said it will soon start manufacturing its flagship high-end smartphone Galaxy S4 in India. "We are planning to start manufacturing of S4 soon at our Noida facility," Samsung Mobile and Digital Imaging Country Head Vineet Taneja told PTI. He, however, refused to share any time frame by when the production will start. The Noida facility is manufacturing about 35-40 million phones annually, including 12 smartphones...
10:40 AM, Apr 29, 2013
ndia's manufacturing sector witnessed the slowest rate of expansion in 16 months in March as power outages hampered production activity and decline in new business orders, an HSBC survey said on Monday. The HSBC India Manufacturing Purchasing Managers' Index (PMI) - a measure of factory production - stood at 52 in March down from 54.2 in February. ...
11:20 AM, Apr 01, 2013
India's gross domestic product (GDP) is estimated to grow an annual 5 per cent in the 2012/13 fiscal year, a government statement said on Thursday, citing provisional estimates. The latest estimate is the worst of all growth projections issued by the government and the RBI. ...
11:40 AM, Feb 07, 2013
India's industrial production fell 0.1 per cent in November from a year earlier, government data showed on Friday. Analysts polled by Reuters had expected output to grow 0.7 per cent annually. ...
11:33 AM, Jan 11, 2013
Emerging markets ended 2012 with a modest acceleration in economic growth thanks to a pick-up in manufacturing activity that hints at further improvement in coming months, a survey found on January 10. All four big BRIC economies posted a rise in economic activity in the last quarter of 2012, with Chinese manufacturing returning to growth for the first time in 18 months, according to HSBC's emerging markets index (EMI). ...
12:07 PM, Jan 10, 2013
There are more concerns on the economic front as quarter 2 GDP dipped to 5.3 per cent from 5.5 per cent in the first quarter. ...
11:40 PM, Nov 30, 2012
Moody's said on Tuesday that the outlook on its Baa3 rating for India is stable, in part due to the country's high savings and investment rates, as debate rages in Delhi over whether the country can avoid credit downgrades from other rating agencies. ...
11:10 AM, Nov 27, 2012
Datawind, the maker of Aakash tablet PC, on Saturday said assembling and programming of the low-cost tablet has been done in the country and only some main parts have been sourced from China. "For the first 10,000 units for IIT, and for expediency sake we had the motherboards and kits manufactured in our Chinese subcontractor's facilities, and then the units have been 'kitted' in China at various manufacturers for expediency,...
01:24 AM, Nov 25, 2012
New Delhi: Despite hopes that industrial slowdown may have bottomed, the September IIP number slipped to a negative 0.4 per cent, disappointing the market that immediately slipped into the red. The street had been expecting a positive number of over 3 per cent based on core sector growth. However, Capital goods played truant falling to a negative 12.5 per cent from a negative 6 per cent in the year-ago period....
11:21 AM, Nov 12, 2012
New Delhi: Faced with difficult government finances, Prime Minister Manmohan Singh on Tuesday asked cash-rich 25 central PSUs to invest their surplus fund of Rs 2.5 lakh crore to reignite economic growth. In a meeting convened by the Prime Minister and also attended by Finance Minister P Chidambaram, the top PSUs were given a stern message that they either invest their huge surplus or pay it back as special dividend...
09:45 PM, Oct 23, 2012
Beijing: The company that manufactures Apple's iPhone said Tuesday it found underage interns as young as 14 working at one of its factories in China. Foxconn Technology Group said the interns were found by a company investigation at its factory in the eastern city of Yantai and were sent back to their schools. China's minimum legal working age is 16. Foxconn, owned by Taiwan's Hon Hai Precision Industry Co., said...
04:20 PM, Oct 16, 2012
New Delhi: The Indian Oil Corporation (IOC) has cut the price of petrol by 56 paise per litre. The reduction in petrol price has come amid criticism being faced by the UPA government over the hike in diesel prices and cap on subsidised LPG cylinders. Petrol price was last revised on July 24 when it was raised by 70 paise. It was last cut on June 3 when rates were...
12:02 AM, Oct 09, 2012
New Delhi: The Indian Oil Corporation (IOC) on Monday slashed the price of petrol by 56 paise per litre to be effective from midnight. The reduction in petrol price has come amid criticism being faced by the UPA government over the hike in diesel prices and cap on subsidised LPG cylinders. Petrol price was last revised on July 24 when it was raised by 70 paise. It was last cut...
06:38 PM, Oct 08, 2012
Mumbai: Stating that economy is recovering now, President Pranab Mukherjee on Thursday expressed the hope that it will be back in path of steady growth soon. "The Indian economy is witnessing a rebound. I do hope that shortly it would come back in the path of steady growth," Mukherjee said after inaugurating the 'India Chem 2012' conference in Mumbai. "Our National Manufacturing Policy envisages increasing the share of manufacturing from...
06:47 PM, Oct 04, 2012
Kolkata: A Kolkata court on Friday declared nine suspected Naxals as political prisoners. The nine men had been arrested by the National Investigation Agency (NIA) in connection with an illegal arms manufacturing case and were said to have been involved in the Lalgarh uprising. The West Bengal High Court had in August granted the nine the political prisoner status. As per the West Bengal Correctional Services Act, political prisoners are...
11:30 AM, Sep 24, 2012
CNBC-TV18 Banking Editor Latha Venkatesh explain what the Q1 numbers of GDP mean. ...
03:15 PM, Aug 31, 2012
Index of Industrial production (IIP) for the month of June has come in at a dismal -1.8 per cent, way below the CNBC-TV18 poll number of 1 per cent. The number suggests that all gains of the previous month have been wiped out. The impact of the number was felt on the stock market, which gave up some of its morning gains. The IIP figure for the month of May,...
11:36 AM, Aug 09, 2012
Hyderabad: India needs to focus more on manufacturing in order to achieve GDP growth more than 6.5 per cent, Reserve Bank of India has said. The manufacturing sector has the scope for creating jobs for millions of people who leave other sectors such as agriculture, RBI Governor D Subbarao said in his keynote address in Hyderabad at Centre for Economic and Social Studies on Saturday. His remarks assume significance in...
12:39 PM, Aug 05, 2012
New Delhi: India's industrial production grew at a higher-than-expected pace of 2.4 per cent in May driven by manufacturing output, government data showed on Thursday. Analysts had expected a rise of 1.8 per cent in May output, a Reuters poll showed. The May figure compares with revised figures that showed an annual contraction of 0.9 per cent a month ago. Along with June wholesale price inflation, scheduled for Monday, the...
11:24 AM, Jul 12, 2012
