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The economic packages to counter coronavirus pandemic, announced by the Government of India, reaffirms the country’s commitment to macro-economic stability, prudent fiscal management and uplifting of indigenous manufacturing. The growth tonic to MSMEs, government support in PF to industries and workers for next 3 months, tax reductions, and releasing of bank guarantees will ease cash flows. Furthermore, the push for agri-marketing reforms and infra including defence production, air space management, airports, power distribution, etc. is also expected to boost economy and manufacturing.
State governments play a major role in the containment of Covid-19 and simultaneously triggering restarting of industrial and economic activity. Although lockdown will persist for some more time in pockets, the momentum set by this economic package will help industries recover from slowdown. Industries will have to ‘live and work with Covid-19’ and have resumed their activities to prevent further damage to the industry and the economy. It is imperative for industries to follow the guidelines set by authorities for health and safety of staff and all concerned. .
Resuming operation, industries are facing weak demand, broken supply chain, coping with new safety norms at work place and labour issue apart from cash crunch. Under these circumstances, industries are expected to demonstrate agility, adaptability, resilience and leadership to override adversity and succeed. It is now important for industries to transform their businesses through product and process innovations.
IMTMA is bringing you information on efforts by countries across the world including India to tackle the situation. The e-newsletter gives an insight into news, advisories, and notifications from the central and state governments in India and the best practices that Indian and global industries have adopted to combat this pandemic. |
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News
Updates
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Skoda India expects to sell
1,000 units of Karoq in 2020
(Economic Times Auto, May 16, 2020). |
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COVID-19 impact: Auto component makers
may cut $4 billion capex by 2022
(Economic Times Auto, May 16, 2020). |
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Odisha to organise camps to help MSME
units avail benefit of Centre's package
(Economic Times Auto, May 16, 2020). |
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TN working on over “300 leads”
to attract foreign firms for investment
(Hindu Businessline, May 16, 2020) |
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FM Sitharaman fast tracks
industrial reforms to aid growth recovery
(Livemint, May 16, 2020). |
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Lockdown 4.0: What the states want
(Times of India, May 17, 2020). |
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Lockdown 4.0: In extension, states
seek more say, want to open up furtherk
(Indian Express, May 17, 2020). |
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Post-lockdown, quick turnaround
of Kerala economy unlikely: study
(Indian Express, May 17, 2020). |
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Experts Welcome Major Reforms
in Defence Production, Coal, Mining, Airports
(Businessworld, May 17, 2020). |
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ISRO to enable private players to carry
out space activities as per govt guidelines
(United News of India, May 17, 2020). |
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Central Government Advisories |
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Ministry of Finance, Government of India
Policy Reforms to fast-track Investment – Effort towards AtmanirbharBharat. Ranking of states on investment attractiveness to compete for new investments, upgradation of industrial infrastructure, raising of FDI limit in defence manufacturing under automatic route to be raised from 49% to 74%. Read More |
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Ministry of Home Affairs, Government of India
Further extension ‘National Lockdown’ till 31 May 2020 along with brief ‘Guidelines’. Read More |
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State Government Advisories |
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Government of Karnataka
Extension of Lockdown order up to May 19, 2020; dated May 17, 2020. Read More |
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Government of Maharashtra
Extension of Lockdown up to May 31, 2020; dated May 17, 2020. Read More |
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Government of Maharashtra
Extension to Lockdown Revised guidelines on the measures to be taken for containment of Covid-19, dated May 2, 2020. Read More |
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Government of Karnataka
Clarification on inter-district movement. Read More |
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Government of Haryana
List of continuous process industries allowed to function during lockdown period in view of MHA guidelines, dated May 1, 2020. Read More |
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National Best Practices |
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Government of Haryana
In view of difficulties faced by industrial and commercial establishments owing to the nationwide lockdown extended till May 17, the Haryana government announced relief measures for these businesses. Read More |
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Nissan India
Nissan India has introduced new car finance schemes and redefined its pick-up and drop service to empower customers amid Covid-19. Read More |
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Tata Motors
Tata Motors has announced new benefits for buyers who work with essential services like healthcare professionals and police officials. These schemes promise benefits of up to Rs 45,000. Read More |
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Renault
After re-opening its showrooms and factory, Renault India has now started online sales of its cars too. Moreover, to entice customers, Renault India is also rolling out offers for online bookings. Read More |
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Global Best Practices |
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BCN3D
BCN3D The Farm 3D printing has been printing 3D protective visors that are fastened with a transparent acetate screen and a rubber back fixture. BCN3D has already distributed more than 4,000 3D face shields to several Spanish hospitals. Read More |
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IMF
The international lender plans to use all its USD 1 trillion lending capacity to support countries across the world battling the deadly outbreak. Read More |
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| Live Webinar (Free) |
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- Awareness on How to achieve Zero Down Time (ZDT) in CNC Machines? (May 22, 11.00 a.m. - 12.00 p.m.). Register Now
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| Online Training Programmes |
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The following are paid programmes conducted online:
- VFD and its Industry Applications (May 20, 2020, 11.00 a.m. - 01.00 p.m.). Register Now
- What is new in Latest Edition of FMEA as per AIAG & VDA? (May 20, 2020, 03.00 p.m. - 06.00 p.m.). Register Now
- Fundamentals of Machining Fixtures - A practical approach (May 21, 2020, 03.00 p.m. - 06.00 p.m.). Register Now
- Finite Element Methods (FEM) for structural design - How, What and Why? (May 23, 2020, 03.00 p.m. - 06.00 p.m.). Register Now
- Quick changeover techniques in Discrete Manufacturing (May 23, 2020, 10.00 a.m. - 01.00 p.m.). Register Now
- Understanding and Implementing GD&T - Essential Fundamentals (MMC, LMC, Rule1, Rule2, RFS, Bonus tolerance, etc.) (May 24, 2020, 10.00 a.m. - 13.00 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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