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From
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Green shoots of recovery from Covid-19 are probably visible on the horizon with statistics from Centre for Monitoring Indian Economy (CMIE) indicating a significant drop in unemployment rates in rural areas with MGNREGA showing positive results.
Manufacturing industry which has had a tough time during the lockdown is continuing its recovery as the days pass by, increasing capacities for testing, and R&D for innovative product manufacturing.
India now has capacities for manufacturing PPEs and ventilators and will probably be exporting these in the near future. All these are definite signs that economy of India is on the recovery path.
Indian machine tool industry meanwhile needs to find its entrepreneurship spirit to develop and compete with global firms, especially in cases where high-end technology and large-size machines needs to be deployed.
The stimulus packages announced by the government provide opportunities for machine tool industry which comprises many MSMEs. Government has played its role and it is now time for business entities to march with confidence and bring forth products and solutions required by user industries.
Definitely it will take some time for creating demand for goods and services but directions provided by leadership will be crucial in navigating the industry to safer shores.
The newsletter brings you updates on various stimulus measures/packages announced by the central and state governments. It also gives an insight into news updates, various government notifications and best practices adopted by Indian and overseas industries to combat the coronavirus pandemic. |
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News
Updates
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Indian auto component industry aims
to cut dependence on Chinese imports: ACMA
(Economic Times Auto, June 24, 2020). |
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Government aims to develop indigenous,
low carbon transport system: Nitin Gadkari
(Economic Times Auto, June 24, 2020). |
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Indian customs may start inspection of
all imports from China at ports and airports
(Economic Times Auto, June 24, 2020). |
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Mercedes-Benz cars to be built on Nvidia
autonomous driving platform from 2024
(Economic Times Auto, June 24, 2020) |
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Aluminium association urges government to remit
export duties and taxes under RoDTEP scheme
(Economic Times Auto, June 24, 2020). |
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After a turnaround against Covid, Madhya
Pradesh now goes for ‘Kill Corona’ campaign
(Economic Times, June 24, 2020). |
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IMF projects sharp contraction of 4.5%
in Indian economy in 2020; a historic low
(Economic Times, June 24, 2020). |
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Covid-19: Herd immunity can be
achieved at 43%, new study finds
(Hindustan Times, June 25, 2020). |
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Central Government Notifications |
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Ministry of Micro, Small and Medium Enterprises, Government of India
Launch of funding scheme to help distressed MSME sector. Read More |
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Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India
Extension of various time limits under Direct Tax. Read More |
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Securities and Exchange Board of India
Temporary relaxation in processing of documents pertaining to FPIs due to Covid-19. Relaxations extended to August 31, 2020. Read More |
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Ministry of Commerce & Industry, Government of India
Amendment in export policy of personal protection equipments and masks. Read More |
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National Best Practices |
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Prime Minister’s Office
PM Cares Fund Trust has allocated Rs. 2000 crore for supply of 50000 ‘Made-in-India’ ventilators to government run Covid hospitals in all States/UTs. Further, a sum of Rs. 1000 crore has been allocated for the welfare of migrant labourers. Read More |
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Bridgestone India
Bridgestone India has announced the launch of Contactless Tyre Servicing platform called ‘Bridgestone Bookmyservice’, the platform enables customers to take an online appointment in a few clicks, making them spend less time in outlets with these pre-planned visits. Read More |
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Global Best Practices |
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Nissan
Nissan Group of Africa, Middle East and India (AMI) has unveiled a comprehensive four-year strategy for the region. Under the company’s Global Transformation Plan, the AMI strategy is developed around two areas of rationalization, and prioritization and focus. Read More |
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Photocentric
3D printer and materials manufacturer Photocentric, has been awarded a contract by the UK government to manufacture over 7.6 million 3D printed protective face shields during the next six months. Read More |
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| Online Training Programmes |
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The following are paid programmes conducted online:
- Effective Sales and Marketing of Machine Tools and Accessories (Module 6) (June 27, 9.30 a.m. - 12. 30 p.m.). Register Now
- Industrial applications of Hydraulics & Pneumatics (For Engineering Students & Faculties) (June 26, 2020, 10.00 a.m. - 1.00 p.m.). Register Now
- Best HR Practices for Organisational Excellence (June 26, 2020, 2.00 p.m. - 5.00 p.m.). Register Now
- Commercial Aspects for Sales and Marketing Engineers (June 27, 2020, 9.30 a.m. - 12.30 p.m.). Register Now
- Programmable Logic Controller (PLC) – A Key Technology for Industrial Automation (June 27, 2020, 10.00 a.m. - 1.00 p.m.). Register Now
- Fundamentals of Advanced Product Quality Planning (APQP) and Implementation of the Production Part Approval Process (PPAP) (June 27, 2020, 2.00 p.m. - 5.00 p.m.). Register Now
- Defect-Free Welds: Process Control is the Key! (June 28, 2020, 10.00 a.m. - 1.00 p.m.). Register Now
- Online Certificate Industry Internship on Manufacturing of DRILL JIG for Gear Pump Housing (Design - Manufacturing - Assembly) (July 6 - 18, 2020, 10.00 a.m. - 1.00 p.m.). Register Now
- Online Live Training on Dimensional Measurements - An Experience of Shop floor on Metrology (July 24, 2020, 10.00 a.m. - 1.00 p.m.). Register Now
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IMTMA Covid-19 Policy Advocacy |
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IMTMA Covid-19 Help Desk |
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IMTMA has set up a section on Covid-19 Policy Advocacy, relevant Notifications, Press notes, Orders and Circulars issued by the Central and State governments, and the Reserve Bank of India are published on the page |
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IMTMA is pleased to announce formation of “COVID-19 IMTMA Help Desk” for proactively addressing the concerns of Members, specifically related to COVID-19 Government Policies, Financial and Regulatory issues. Members may send their queries by clicking on “COVID-19 IMTMA Help Desk” button in IMTMA homepage www.imtma.in and filling-up the query form |
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Published by Indian Machine Tool Manufacturers'
Association (IMTMA), Bangalore International Exhibition Centre (BIEC),
10th Mile, Tumkur Road, Madavara Post, Bangalore - 562 123. Tel.: +91 80
6624 6600 Fax: +91 80 6624 6661 E-mail: imtma@imtma.in
Web: www.imtma.in
Disclaimer: The content and figures shown in the newsletter have been taken from different websites and IMTMA does not take responsibility for the accuracy of the same.
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