Category Archives: Quotation

New National Manufacturing Policy This Month, Says Administration

The administration stated that it is expected to come forward with a National Manufacturing Plan by the end of September 2011 that aspires to generate mega industrial zones crosswise the nation with top-notch infrastructure facilities.

Commerce and Industry Minister Anand Sharma said, “The note (for the policy) will go to the Cabinet within a week. I do not foresee any delay. Hopefully within this month, it will become a reality.”

The national manufacturing plan eyes to generate 100 million extra jobs and take the share of manufacturing to 25% of India’s gross domestic product by the year 2020 as against 15-16%.

The section adds more than 80% to India’s total industrial production.

The plan also aimed to relax labour and environment regulations and looked for tax sops for the projected National Manufacturing Investment Zones (NMIZs).

These proposed big enclaves could even consider SEZs.

On the determined $90 billion Delhi-Mumbai Industrial Corridor (DMIC), Mr. Sharma stated that seven novel investment areas would be established crosswise the six Indian states under the project.

These two measures would assist unlock the true prospective of manufacturing in the country.

He also stated that the initial gathering of a Joint Task Force of the administration and industry will take place on September 12.

The Joint Task Force was declared after the minister held talks with CII on July 13.

Force Motors Launches First SUV Force One at Rs 10.65 lakh

Force Motors, is reported to have launched its first SUV Force One, and at Rs 10.65 lakh in Delhi, and the company is using the drivetrain technology gotten from Mercedes-Benz for the SUV, as its Passenger Vehicle Division spent the last one year or more to develop the new SUV.

Also, the company hopes to sell 4,000 units of the SUV in the first year, as the market size for the sector is about 70,000 units a year and the SUV is said to compete with, Mahindra Scorpio, Toyota Innova and the Tata Safari.

However, Force Motors intends to invest Rs 1,000 crore, in the next two years to boost its manufacturing footprint, and the company is presently discussing with the Madhya Pradesh Government to start a new manufacturing plant, with the decision being finalized in the next two months.

Hence, funds are said to be raised by combining of internal resources and loan, as the company might follow the capital market route as well as propose a rights issue.

Moreover, Dr. Abhay Firodia Chairman of Force Group, Stated: “The company may set up a new assembly line at its Pithampur facility or set up a third plant outside the state, and the installed capacity of the new line will be 12,000 units per annum that can be expanded to 24,000 units”.