MANUFACTURING QUALITY
Maharashtra sets up panel to explore phasing out petrol and diesel vehicles in Mumbai
A seven-member committee has been formed by Maharashtra government to explore banning petrol and diesel vehicles in the Mumbai Metropolitan Region due to worsening air quality. The committee, led by retired IAS officer Sudhir Kumar Shrivastava, will study and submit recommendations within three months, focusing on CNG and electric vehicles as alternatives.
NFO Alert: UTI Mutual Fund launches two index funds
UTI Mutual Fund has launched two new index funds: the UTI Nifty India Manufacturing Index Fund and UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund. Both funds aim to replicate the performance of their respective indices, with a focus on equity and equity-related securities. The NFO for both funds opens on January 28 and closes on February 10.
Market slump may offer buying opportunities in quality stocks: Deven Choksey
Some of the auto ancillary companies which are though you may not want to call them as a completely largecap, but in the high range of midcaps they are relatively a better placed.
ET Leadership Dialogues: India needs to accelerate journey from ¡®order taker¡¯ to ¡®market maker¡¯
Government regulations, infrastructure, and subsidies are essential for strengthening India's manufacturing sector. Industry leaders emphasize the need for a unified manufacturing ecosystem, skilled talent, and innovation hubs. Leveraging technology and reducing logistics costs can enhance the sector's competitiveness globally.
Drug quality, ease of doing biz to top govt-pharma companies' talks
The health ministry is set to meet pharma industry representatives to discuss improving drug quality after several instances of exports failing standards. The meeting on January 31 will also address ease of business concerns. Inspections have intensified following WHO's link between Indian cough syrups and deaths in Gambia and a report highlighting numerous substandard drugs.
Pharma industry: Govt issues draft notification proposing to extend deadline for revised Schedule M compliance
The government has proposed extending the compliance deadline for revised Schedule M norms for pharmaceutical manufacturing. The extension aims to help small and medium manufacturers upgrade their facilities and meet quality standards. Public comments are invited, and the implementation timeline may be extended to December 31, 2025, after considering feedback from stakeholders.
Govt push for quality: Industry embraces QCO on plywood, MDF boards after initial resistance
The plywood and MDF board industry in India has accepted mandatory quality control norms for better standards. Commerce Minister Piyush Goyal states that the initiative aims to boost domestic manufacturing and limit sub-standard imports. These measures will help India establish itself as a manufacturing powerhouse, ensuring superior and safe products for consumers.
5,000 drug manufacturing units may miss Schedule M deadline, industry seeks extension
Nearly half of India's 10,000 drug manufacturing units might not meet the 2025 deadline for upgrading to revised Schedule M standards, risking closure. Currently, only 2,000 comply with good manufacturing practices. The industry seeks a two-year extension for improvements, but the government hasn't announced one yet. Audits and inspections may begin soon.
Desi cos like 'quality control' for the boost local manufacturing gets
The plywood and MDF board industry, which initially resisted Quality Control Orders (QCO), now supports the implementation scheduled for February. The QCO ensures products meet international standards, addressing consumer concerns about material quality, and aims to protect domestic businesses from the importation of substandard goods.
Erring drug companies to face stricter action as rules to improve mfg standards come into effect today
Drugmakers in India may soon face stricter enforcement of quality standards. The revised Schedule M, which details manufacturing practices and quality requirements, will come into effect on January 1. The industry had expected an extension but must now comply. The enforcement includes audits and risk-based inspections to ensure compliance with the new standards.
111 drug samples tested in November found 'not of standard quality'
In November, the Central Drugs Standard Control Organisation (CDSCO) identified 41 drug samples as not of standard quality (NSQ), while state drug testing laboratories identified 70 NSQ samples. Additionally, two drug samples were found to be spurious, made by unauthorized manufacturers. Authorities regularly collaborate with state regulators to remove such drugs from the market.
Delhi govt imposes 'perpetual ban' on firecrackers in city
The Delhi government has issued a permanent ban on all firecrackers, encompassing manufacturing, sale, and use, including online sales. This action is in response to hazardous air pollution levels plaguing the city and follows other restrictions like construction bans and truck entry limitations.
1,394 batches of drugs recalled in 2023-24 for failing quality tests: Minister
Drug recalls due to failed quality tests have seen a concerning rise in India, from 950 batches in 2019-20 to a provisional 1,394 in 2023-24. Over 2,900 drug samples failed quality checks this year, with 282 deemed spurious or adulterated, leading to over 600 prosecutions.
Indoco Remedies gets warning letter from USFDA for Goa plant
Indoco Remedies' Goa plant received a warning letter from the USFDA following a July inspection. The company stated its commitment to resolving the issues and maintaining compliance with US regulations while continuing to supply products to the US market. The company's shares saw a slight increase despite the warning.
ET Awards for Corporate Excellence: Venu Srinivasan receives Lifetime Achievement Award for contributions to Indian manufacturing
Venu Srinivasan, honoured with a Lifetime Achievement Award, transformed TVS Motor Co into a global powerhouse. His leadership, starting at 27, propelled the company to become the world's fourth-largest two-wheeler manufacturer. Srinivasan prioritized in-house R&D, quality management, and strategic partnerships, including one with BMW Motorrad, driving exports and acquiring the Norton brand.
Electrical goods testing allowed at parts makers' labs
India has revised its quality control rules for electrical goods, permitting testing and certification at labs owned by equipment makers. This move aims to attract cos looking to move production from China and address concerns about insufficient testing facilities in India. Private companies are expected to invest significantly in setting up new testing labs.
DCGI to discuss regulatory issues with cosmetics companies next week
India's drug regulator, the DCGI, is set to meet with cosmetics industry representatives to address regulatory concerns. The industry seeks clarification on Schedule M, which proposes a ban on manufacturing non-drug items in drug manufacturing units, potentially impacting cosmetics production.
'Tough getting companies to ensure quality': Commerce Minister Piyush Goyal
Commerce Minister Piyush Goyal urges Indian industries to focus on high-quality manufacturing to boost export competitiveness. He emphasizes self-reliance and states that quality manufacturing is essential for global market success. The government has issued more quality control orders recently, urging big players to support smaller units in this endeavor.
Focus on quality; export competitiveness won't come from govt subsidies: Piyush Goyal to industry
Commerce and Industry Minister Piyush Goyal emphasizes the need for Indian industries to produce high quality goods to compete globally. He mentions that export competitiveness will come from quality products, not government subsidies. The government is implementing Quality Control Orders to ensure better standards and discourage sub-standard imports. Goyal also encourages industry participation in BIS committees.
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