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Budget2016 Manufacturing - read breaking and trending Budget2016 news, stories, headlines. Business insider India is providing latest, handpicked stories related to the Manufacturing category.

Budget2016 Manufacturing - read latest and trending Budget2016 news and headlines

Volkswagen reveals Polo Legend Edition in India — Price, specifications and features

<ul><li>Indian Army has placed fresh orders for Spike which is an anti-tank missile, from Israel using its emergency purchase powers. </li><li>The procurement was discussed at the annual Army Commanders meeting in April and the orders have been placed this month. </li><li>The missiles come with a 4 kilometer range and can be fired from various platforms. </li><li>DRDO successfully tested indigenous Nag anti-tank missiles in July. </li></ul> Indian Army’s fire power is set to get turbocharged as it placed orders for Israel’s anti-tank Spike missiles. Spike is an advanced missile system which is known as fire-and-forget guided missile, developed by the country. The Army invoked its power to make emergency purchases for operational preparedness to place this order, reported the <a href="https://economictimes.indiatimes.com/news/defence/indian-army-places-order-for-procuring-spike-missiles/articleshow/70164204.cms">Economic Times</a>. The missiles come with a range of four kilometres and can be deployed in mountainous terrain as well and plains. The missiles are also special as they can be deployed and launched from different platforms including land vehicles, helicopters, ships and ground launchers, as per sources. After the Balakot strike The procurement of the missiles was discussed after the <a href="https://www.businessinsider.in/indian-air-force-distances-itself-from-casualty-count-in-balakot-air-strikes-says-up-to-government-to-confirm/articleshow/68254527.cms">Balakot strike</a> in April, during the annual Army Commanders meeting.The proposal was cleared in the meeting itself, and the orders were made placed this month. The special powers for procurement of weapons were given to the three armed forces after the IED blast in <a href="https://www.businessinsider.in/pulwama-attack-jaish-e-mohammad-jem-leadership-eliminated-within-100-hours/articleshow/68059011.cms">Pulwama</a> on February 14, which had killed more than 40 Central Reserve Police Force (CRPF) personals. The forces have special powers to procure equipment worth ₹300 crore. These orders have been placed after the three service chiefs and Defence ministry officials made a presentation before the its Minister Rajnath Singh, soon after he took charge last month. While the Indian Army is prioritising the purchase of precision guided missiles for its artillery ammunition, India itself is developing indigenous anti-tank missiles. Recently, Defence Research and Development Organisation (DRDO) successfully tested Nag anti-tank missiles on July 7 in the Pokhran firing range, as per <a href="https://www.army-technology.com/news/india-drdo-nag-anti-tank-guided-missiles/">ANI</a>. SEE ALSO: <a href="https://www.businessinsider.in/defence-budget-2019-20indias-defence-budget-has-nearly-doubled-in-5-years/articleshow/70037360.cms">India’s defence budget has nearly doubled in 5 years but the money is not enough to upgrade the weapons</a> <a href="https://www.businessinsider.in/indian-air-force-will-participate-in-largest-ever-air-exercise-with-france/articleshow/69939727.cms">France and India come closer after Rafale deal, to conduct largest-ever air exercises</a> <a href="https://www.businessinsider.in/indian-air-force-distances-itself-from-casualty-count-in-balakot-air-strikes-says-up-to-government-to-confirm/articleshow/68254527.cms">Indian Air Force distances itself from casualty count in Balakot air strikes, says up to government to confirm</a> <a href="https://www.businessinsider.in/pulwama-attack-jaish-e-mohammad-jem-leadership-eliminated-within-100-hours/articleshow/68059011.cms">Whoever picks up gun in Kashmir will be eliminated, says Indian Army</a>

Indian Army invokes emergency powers to buy Israel’s fire-and-forget anti-tank missiles

<ul><li>The Indian Air Force (IAF) has initiated work on two of its ambitious ‘Make in India’ projects to acquire 114 fighter jets and the C-295 transport aircraft. </li><li>The project for 114 fighter jets is presently the biggest deal around the world, and includes French, US, Rusian and the European fighter Eurofighter Typhoon. </li><li>The project is worth ₹1,50,000 crore and the C-295 transport aircraft is worth ₹11,929 crore. </li></ul>The Indian Air Force has initiated the process of its two ambitious Make in India projects for 114 fighter jets and 56 medium transport transport aircraft, worth about ₹1,50,000 crore. The authorities are working on a project to manufacture 114 fighter jets, as the request for proposal (RFP)---which invites interested bidders---might be issued in late 2019 or early 2020, <a href="https://timesofindia.indiatimes.com/india/iaf-pushes-for-mega-make-in-india-projects-for-fighters-transport-planes/articleshow/70120240.cms?from=mdr">reported the Time of India</a>. A large number of international players are known to be interested to take part in indegenous production of these fighter jets. One of them known to be in the race is Rafale, along with F/A-18 and F-16 from the US, Mig 35 and Sukhoi-35 from Russia, Gripen-E from Sweden, and the Eurofighter typhoon. Depleting Numbers The proposal for 114 fighter jets is presently world’s biggest deal in aviation industry. “The 114-fighter project is crucial because the 36 Rafales and the indigenous Tejas light combat aircraft will not make up for the fast depleting numbers. There is an urgent need to plan for the future,” <a href="https://timesofindia.indiatimes.com/india/iaf-pushes-for-mega-make-in-india-projects-for-fighters-transport-planes/articleshow/70120240.cms?from=mdr">a source told TOI</a>. The Indian Air Force (IAF) severely lacks fighter squadrons. Only 30 of the 42 available squadrons are in working condition. However, these numbers will be reinforced as Rafale jets from France will be delivered in May 2020. The deal worth ₹56,000 crore was finalised in 2016. The induction team of the IAF which includes 10 pilots, 10 flight engineers and 40 technicians are currently undergoing training in France. Tata-Airbus venture The Air Force is already working on medium transport aircraft which will be manufactured by the TATA-Airbus consortium. This production is expected to kickstart in 2019-20. The TATA-Airbus joint venture for 56 twin turboprop tactical C-295 is in its final stages. “The extensive trials and CNC (contract negotiations committee) are over now. DAC will take up the project to approve certain deviations before sending it to the cabinet committee on security for the final nod,” as per sources. The C-295 planes will replace the Avro Aircraft, which was first inducted in 1960’s. Initially valued at ₹11,929 crore, it was meant for the Indian private sector to enter aerospace manufacturing. The aircraft will be delivered in two phases. Airbus will supply the first 10 aircraft and the remaining 40 will be manufactured by TATA in India, over the next eight years.

Air Force to call bids for 114 jets worth ₹1,50,000 crore--to be Made in India

<a href="http://www.businessinsider.in/searchresult.cms?query=Budget+2016">Budget 2016</a> is just round the corner. Going by the stats, India has the potential to become a <a href="http://www.businessinsider.in/searchresult.cms?query=manufacturing">manufacturing</a> hub for international companies. That will help not only in increasing employment, but will also pump significant capital into the economy. 
 
A strong upward curve in the sales of <a href="http://www.businessinsider.in/searchresult.cms?query=commercial+vehicles">commercial vehicles</a> and consistent growth in the <a href="http://www.businessinsider.in/searchresult.cms?query=Passenger+Car">passenger car</a> volumes has boosted India’s auto sector. Here are a diagnostics report of each segment in the <a href="http://www.businessinsider.in/searchresult.cms?query=auto+sector">auto sector</a>, and what the government must do: 
 
Passenger Vehicles: 
Report: <a href="http://www.businessinsider.in/searchresult.cms?query=Passenger+Car">Passenger Car</a> volumes have shot up for over a year straight – 14 months to be exact. The segment saw a cumulative growth of 9%. However, this effect is limited to the two segment leaders- <a href="http://www.businessinsider.in/searchresult.cms?query=Hyundai">Hyundai</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Maruti">Maruti</a>. 
 
To Do: Industry needs steps to boost infrastructure. 
 
Two Wheelers: 
Report: The <a href="http://www.businessinsider.in/searchresult.cms?query=two-wheeler">two-wheeler</a> market has seen a slowdown. It’s fell 2.5% in the April-December period. 
 
To Do: If the government pours something into the rural sector, numbers will shoot up again. 
 
Commercial Vehicles: 
Report: <a href="http://www.businessinsider.in/searchresult.cms?query=commercial+vehicles">Commercial vehicle</a> volumes jumped 8.5% in the April-December period. They’ve been doing well. Medium and heavy <a href="http://www.businessinsider.in/searchresult.cms?query=commercial+vehicles">commercial vehicles</a> can repeat the 30% volume hike, just like in 2015, but with the appropriate measures. 
 
To Do: Invest more in infrastructure, just like in <a href="http://www.businessinsider.in/searchresult.cms?query=Budget+2015">Budget 2015</a>.

Budget 2016 – Here’s what India’s
Auto Sector wants

It’s not an unknown fact that India’s steel and iron industry aren’t flaring well these days, and in order for them to sail through the tough times, industry body Indian Chamber of Commerce (ICC) has demanded that the government should remove the 6% duty on coking coal, which includes 2.5% import duty. 
 
It has also said that iron ore production needs to be increased so that the needs of steelmakers can be met in time. 
 
"A duty of 2.5 per cent was imposed on coking coal in 2014. This has increased the cost of steel making in India that is impacting the competitiveness of manufacturing steel products in India," Indian Chamber of Commerce (ICC) has said in a letter to Finance Minister Arun Jaitley. 
 
The move has come at a time when the whole country is looking forward to the upcoming Union Budget to know the fate of the heavy industries for one year. To support their claims, the chamber has said that there weren’t any duties on imports of coking coal before 2014. 
 
Talking of the iron industry, the chamber has also written a letter to Steel Minister Narendra Singh Tomar, claiming the need for the increase in the production of iron ore. 
 
"In Odisha, against a capacity of 90 million tonnes per annum for captive mines, the annualised production rate for the current year is 50 MTPA," the letter said. 
 
The chamber also wants the government to consider selling the whole ore production should through auctions so that hoarding can be avoided. It has also urged the government to finalise how non-captive iron ore mines should be auctioned. 
 
<a href="https://gps.princeton.edu/_customtags/ct_Image.cfm?Image_ID=210">Image source</a>

ICC suggests removal of duty on coking coal in Budget 2016

It’s still some days left for the Budget announcement and every industry in India has its respective share of hopes from the budget session. Similarly, the mining industry of Goa hopes that the upcoming budget would scrap the 10% export duty that proves to be problematic for the industry players. 
 
Not only this, the industry also wants permission to dump their waste outside the lease area, which would happen if the budget induces some changes in the MMDR Act. 
 
Goa CM Laxmikant Parsekar recommended the same changes to the government in the recent past. Both the mines ministry and the commerce ministry want the duty to be scrapped, so that the industry can flourish better. This is so because the international price of low-grade ore with Fe content of 56% has gone down drastically, and in this scenario, the mining industry won’t be able to do well in the presence of the export duty. 
 
Last month, the Goa mineral ore exporters association (GMOEA) had approached the PMO to seek his support in scrapping the export duty. They also said that doing so would yield more revenues, leading to $750 million a year. 
 
Talking of the industry, Goa mainly produces low grade iron ore (with iron content between 55-58 per cent), which is largely exported. Now that the international price has gone down, the miners think that the current tax mechanism is quite unfair. 
 
The current trend in international market hints that the price can go even down, which is why the miners from Goa are really looking forward to the budget for some favorable announcement on the part of the finance ministry. 
 
<a href="http://news.bbcimg.co.uk/media/images/56692000/jpg/_56692778_jex_1232316_de27-1.jpg">Image source</a>

Mining industry wants Union Budget to remove the export duty because of international market trend

The Indian steel industry, which is not seeing its days of glory as of now, found a ray of support when the government recently announced the minimum import price (MIP) on 173 steel products ranging between USD 341-752 per tonne. 
 
While the industry is going through the toughest phase that one can recall in the recent past, India has still grown positively in steel consumption, and remains the only major emerging economy to do so. 
 
However, the industry players have come under extreme pressure because of huge losses that they have faced owing to the declining demand of steel in the country. Not only this, even the export scene is not phasing out very well because international markets have surplus capacities, because of which major international players like Japan, South Korea, China, Turkey and Brazil are selling steel even below their marginal cost, leading to a global crisis in the industry. 
 
If that continues to be the case, the steel industry, which is already under heavy loans despite not having made much profit will continue to deteriorate, which is why all eyes are set on the Union Budget 2016-17 that comes later this month. 
 
<a href="https://i.ytimg.com/vi/nCdqKjS3y2o/maxresdefault.jpg">Image source</a>

Only MIP won’t do any good to the steel sector; all eyes set on Union Budget

The steel industry of India is passing through a rough patch these days, and for a strong boost, it has pinned its hope on the minimum import price (MIP) that was announced recently. Knowing that the annual budget plays an important role in the revival of the industry, it expects more relief measures from the upcoming budget, said JSW Steel CMD Sajjan Jindal. 
 
Not only this, the steel sector is also hopeful that the country's economy should grow by 8 to 8.5%, so that the industry can revive and flourish. Jindal was addressing reporters in Mumbai on the sidelines of 'Make in India' Week yesterday. 
 
JSW is a part of the OP Jindal group, and standing at USD 11 billion, it is one of the major players in the steel space in the country. 
 
Talking of the developments so far, the government had imposed an MIP on 173 steel products ranging between USD 341-752 per tonne, which would remain so for a period of six months only. 
 
Jindal also had his two cents to share on the upcoming budget. He said, "It should be a growth-oriented Budget. It has to look at micro factors and ensure how it would be possible to increase country's GDP from existing level of 7-7.5 per cent to 8-8.5 per cent in future." 
 
<a href="http://www.stiavelli.com/wp-content/uploads/2014/02/Steel-Industry-Electric-Motors-Industrial-Fan-Blowers-Stiavelli-FTA-3.jpg">Image source</a>

Steel industry pins hopes on upcoming budget for revival

Stating that defence services and vendors were facing procedural difficulties in procurement of equipment, Vice Admiral SPS Cheema today said these procedures were being reviewed by the government.
 

	"These (procurement procedure) difficulties will be addressed in these reviews," a Navy release quoted Cheema as saying.
 

	He was speaking at the launch of the two-day clothing and footwear seminar-cum-exhibition organised for the first time by the Indian Navy here today.
 

	At the exhibition, several firms showcased their products and offerings that could be of use to defence and paramilitary forces, the release said.

	"The seminar was yet another effort by the Indian Navy towards achieving improvement in quality of clothing, smart stitching and footwear while propelling the cause of Make in India," it added.

	 
	Gautam Singhania, CMD, Raymond group delivered the keynote address on the occasion.

	 
	He apprised the audience about the developments in the textile industry, which can be of great use to the armed forces, the release said.

Defence procurement procedures being reviewed by govt: Cheema

India and the Maldives today decided to deepen bilateral ties, especially in the critical sector of defence and security.
 

	Visiting Maldivian Defence and National Security Minister Adam Shareef met his Indian counterpart Manohar Parrikar here this evening and held delegation-level talks during which it was decided that the two nations should deepen and broaden their defence cooperation, official sources said.
 

	The development comes at a time when the Chinese are increasing their footprint in the archipelago nation.
 

	China is funding several infrastructure projects across the Maldives. The governments electoral pledges, like building a bridge between capital Male and the airport island of Hulhule and development of its main international airport, also hinges on soft loans being considered by Beijing.
 

	Chinese businesses, mostly state-owned corporations, have recently forayed into the Maldives with investments in areas such as the upmarket luxury tourism industry.
 

	The Maldives also held its second investment forum in the Chinese capital last November.
 

	External Affairs Minister Sushma Swaraj, during her visit to Maldives in October 2015, had said that India will always be the net security provider to the Indian Ocean archipelago.
 

	She, however, had stressed that it was important to insulate both nations from trends towards radicalisation and terrorism. 
	 
	(Image credits: PIB)

Ahead of Budget, India-Maldives to deepen defence, security ties

If reports are to be believed, the government might raise the <a href="http://www.businessinsider.in/searchresult.cms?query=excise+duty">excise duty</a> on petrol and diesel before the budget. This could be done to raise revenue and stick to the fiscal deficit target it had set for 2015-16. 
 
"Falling crude oil price provide us a headroom for increasing <a href="http://www.businessinsider.in/searchresult.cms?query=excise+duty">excise duty</a> on petrol and diesel. It will help in meeting <a href="http://www.businessinsider.in/searchresult.cms?query=fiscal+deficit">fiscal deficit</a> target of 3.9% for the current fiscal," an official source told ET. 
 
"The <a href="http://www.businessinsider.in/searchresult.cms?query=fiscal+deficit">fiscal deficit</a> target is sacrosanct and every effort would be made to meet the target," he quoted. 
 
In the current fiscal year, the government has already raised the excise duty on petrol and diesel four times. 
 
Even Last week, the government had hiked the excise duty on petrol by Rs 0.75 per litre and on diesel by Rs 2 a litre, which was the second increase in duties in less than two weeks. 
 
This has happened despite oil prices having fallen to 12-year low to USD 29 per barrel because of weak Chinese economy and a global slowdown and lifting of Iran sanctions. 
 
According to the official data, fiscal deficit position has shown a remarkable improvement at the end of November 2015. 
 
Image credit: Indiatimes

Excise Duty on Petrol and Diesel might rise before Budget

What India was able to do in three long days, France managed to do in merely three hours. The response of two nations to terrorist attacks similar in nature reflects the alertness of the French security forces on the one hand and an embarrassing poor counter-terrorism mechanism of India on the other. 7 years on after the Mumbai carnage saw loss of 166 lives and left a nation in utter shock at the devastation, are we in any better position to deal with terrorism now? 
 
“To say that we have a strong security mechanism in place after 26/11 and we are better prepared to face a Paris or Mumbai-like attack would be an exaggeration,” says strategic analyst and former diplomat Mr Rajiv Dogra. 
 
"Had that been the case, we would not have had the Udhampur attack or for that matter the one in Gurdaspur where our cops were fighting with vintage rifles and without wearing bullet-proof vests. When they don’t have proper equipment, how can we expect them to fight off swiftly deadly terror attacks. Remember, they are fighting terrorists who carry sophisticated weapons,” he says. 
 
If we go down the memory lane, on Nov 26, 2008, the 10 AK-47 wielding Pakistani terrorists had landed in Mumbai's Badhwar Park in Colaba from the sea and laid siege to several key locations, including Chhatrapati Shivaji Terminus, Taj Mahal Hotel, Chabad House and Leopold Cafe. It took three days for our men to end the terror assault by killing nine of the gunmen and nabbing Kasab who was later executed. Following the carnage, several security measures were expedited. Coastal patrolling by Navy, Coast Guard and marine police were increased sharply. The entire west coast is even today reportedly under continuous surveillance by ships and aircraft of Navy and Coast Guard, according to a statement by the Ministry of Defence. The Railway Protection Force (RPF) beefed up electronic surveillance at the Chhatrapati Shivaji Terminal. Closed-circuit cameras, heavy-duty X-ray baggage scanners, portable baggage scanners, door-frame metal detectors, hand-held metal detectors, canines (six of them are trackers) were put in place. Futuristic armored vehicles mounted with machine guns patrolled the iconic Gateway of India that was transformed from a bustling tourist hive to a controlled fortress. Hotel security had airport-like scanners, car bomb checks for every vehicle and armed guards. 
 
How many of them are still functional? Were they simply an impulse to public hysteria, media trial and a close scrutiny by the world, nobody really knows. There is no government transparency or accountability on what is being done despite cross-border terrorist infiltration and the ruthless deaths of our soldiers at the borders every passing minute. The question to ask is: Are we doing enough to ensure security of Indians? 
 
More efforts are needed to reduce the country's vulnerability to such terror strikes, feel experts. Look at the way UK for instance took learning from the Mumbai attacks. The British PM David Cameron recently said:“Ever since the coordinated firearms attacks in Mumbai in 2008 took place, we have all been working together to ensure we could respond to such an attack. With great degree of planning, co-ordination and a great ambition for mass casualty attacks, it is clear that the threat from ISIL (Islamic State) is evolving. And we must recognize that however strong we are, however much we prepare, we in the UK face the same threat.” ​ 
 
In view of the increasing terrorism threat that several countries face, Rajiv Dogra echoes similar concerns as the British PM on their rising power: “Look at the ISIS. It’s worrying to see how quickly they were able to mount retaliatory attacks on Russian, Lebanese and French interests. They combine speed, power, terror and indoctrination to cruel effect. All this should be of concern to us. Moreover in India's case the odds are a thousand times greater than those for other countries because there is State support to terrorists acting against India. Add to it the fact that people like Hafiz Saeed and Dawood Ibrahim roam free and the dimension of danger multiplies further.” 
 
Added to this is the incompetence of our intelligence machinery that relies heavily on the internet or telephone intercepts that are now running dry. Terrorists have become way smarter and are maintaining email and telephone secrecy thereby giving the intelligence agencies a run for their money. We keep intercepting cross-border satellite phone conversation between terrorists but are unable to decode their encrypted conversations. This proves to be a major stumble-block in combating infiltration or averting attacks. In the case of Mumbai attacks, this lapse on our part is what largely helped the terrorists in entering Mumbai fearlessly via the coastal route. 
 
In Paris, despite tight security, they were able to enter by intermingling with the locals. By hook or by crook, they have been able to mobilise support for their cause. Modern modes of communication are proving helpful to them owing to its far reach and a tool that guarantees lesser threat of them being tracked by enemies. 
 
“Terrorists are using the cyber space increasingly, a space where keeping tab is extremely difficult. Not even the best security officials in the world can do anything if a person sitting in some corner of the country is influenced by radical ISIS ideology and decides to self-destruct,” says 
Rajiv Dogra. 
 
When such difficulties are also being faced by powerful nations like the France and UK despite having modern technologies, better trained cops, sound intelligence machinery and an already tight security framework in place, it is worrying to see how India, a country that ISIS reportedly plans to take control of in the next five years, has not even begun preparing for such attacks despite being a victim of terrorism for decades. 
 
It's time we buck up because let us face it, the bitter truth is terrorists are already one step ahead of us!

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