Apple’s Indian venture has achieved remarkable growth, exceeding $23 billion in revenue in FY24, fueled by increased local manufacturing and strong demand for iPhones. This surge makes Apple the fastest growing manufacturer in India in the past 50 years, highlighting its strategic focus on the country as a crucial market.
Paladin Holdings, a portfolio company of Makai Capital Partners, has acquired Ultra-Pak, a leading contract manufacturer and distributor of personal care and cleaning products. This acquisition expands Paladin’s capabilities in liquid and powder filling, catering to the growing demand for packaged detergents and cleaning products. Ultra-Pak’s strong presence in the Hospitality market also aligns with Paladin’s strategic goals.
Kobelco Construction Equipment India, based near Chennai, is boosting its local manufacturing capabilities. With its latest SK80 Excavator boasting over 70% indigenisation, the company aims to meet both domestic and international demand, making India a major manufacturing hub for Kobelco’s global operations. The company’s Sri City facility, with an annual production capacity of 3,500 units, already exports a portion of its output to the Middle East and Africa. This commitment to ‘Make in India’ is further solidified by Kobelco’s recent Rs 75 crore investment in plant and machinery expansion.
Apple is set to expand its manufacturing presence in India by producing the iPhone 16 Pro and iPhone 16 Pro Max models domestically for the first time. This move aims to deepen Apple’s manufacturing capabilities in India and cater to the country’s growing demand for premium smartphones.
Sagar Gupta, a young entrepreneur from Noida, left a promising career as a Chartered Accountant to build a ₹600 crore business empire in just four years. Inspired by his father’s legacy in semiconductors, he founded Ekkaa Electronics, producing LED TVs and expanding into other electronic devices. His company now employs over 700 people and supplies products to leading brands.
Haas Automation, renowned for its advanced CNC machines, has partnered with Phillips Machine Tools in India to equip local manufacturers with cutting-edge technology and support, fostering productivity and global competitiveness. This partnership, combined with special discounts on Haas SUPER SPEED models, aims to empower Indian manufacturers to achieve superior performance and contribute to the ‘Make in India’ vision.
JSW MG Motor’s Halol plant in India is setting an example for gender inclusivity in the automotive industry, with 34% of its workforce being women. The company’s commitment to diversity, innovation, and community is evident in its initiatives to empower women and prepare them for the future of automotive manufacturing.
China’s factory activity contracted for the second consecutive month in June, according to official data released on Sunday. This underscores the country’s fragile economic recovery ahead of a key political gathering focused on deepening reforms. The manufacturing purchasing managers’ index (PMI), a key gauge of factory output, remained at 49.5 in June, signaling a decline in activity. While the non-manufacturing PMI expanded, it also registered a decline from the previous month. The data highlights challenges for policymakers, including a prolonged debt crisis in the property sector, sluggish consumption, and high unemployment.
The Indian government is set to initiate a plan to establish dormitories for workers in close proximity to manufacturing clusters, focusing on textile parks, logistics, and other manufacturing units. The primary goal of this initiative is to retain workers in manufacturing units for longer periods, thereby maintaining steady production levels. The government will collaborate with states and industries to create these facilities, utilizing financial assistance from the Centre’s scheme to support construction efforts.
AI and GenAI are proving to be catalysts for digital transformation across a wide range of industries in India, from finance to manufacturing and pharmaceuticals. Executives from various sectors shared their experiences with AI and GenAI at the recent Mint Digital Innovation Summit, highlighting the benefits they’ve seen in areas such as workflow automation, robust decision-making, drug safety, cost reduction, and innovative product design.
