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Volume: XXIX / No.06 (Private Circulation For Members Only) February - 2023
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In Focus
Union Budget 2023-24: Reinforcing
Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2023-24 in Parliament on February 1, 2023. “This Budget hopes to build on the foundation laid in the previous Budget, and the blueprint drawn for India@100. We envision a prosperous and inclusive India, in which the fruits of development reach all regions and citizens…

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Management Mantra
Union Budget 2023-24: Offering MSMEs a platform to grow
The Micro, Small & Medium Enterprises (MSMEs) sector is a major contributor to the socio-economic development of the country. The sector has also contributed immensely with respect to entrepreneurship development, especially in semi-urban and rural areas of India. At present, MSMEs contribute about 30 percent to the country’s GDP, and create over 100 million jobs...

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Tool Talk
‘The potential for growth in the toolmaking industry is unlimited’
“Toolmakers receive numerous RFQs, both domestically and globally, as many companies are looking for alternatives to Chinese suppliers. Moreover, India’s growing industries and increasing buying power of consumers has led to growth in sectors such as automotive, toy making, lighting, packaging, consumer goods, and home appliances,” says Ravindra Gugale, Sr. GM – Purchase (Interior & Plastic Division), Tata AutoComp System Ltd.

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Industry Updates
  • Electric vehicle manufacturer EKA Mobility bags order of 310 electric buses
  • Emmvee gets into a contract with Fraunhofer ISE as technology partner for its new mega cell line
  • Maini Precision Products and L3Harris ink deal for aircraft ejector release units
  • Omega Seiki to invest $98.1 million in India EV parts plants
  • Renault and Nissan renew commitment to Indian operations through new investment and vehicles
  • India’s Mahindra to invest $121 mln to set up EV facility in Telangana state
  • Govt to spend 75% defence outlay for procurement from Indian firms: Rajnath
  • Tata Motors to operationalise Ford’s Sanand unit in Gujarat in 12-18 months

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