From IMTMA

As the manufacturing is gradually restarting after Covid-19 lockdown, there are many issues that face our industry in the immediate, short and long term. There are serious economic challenges, uncertainty in demand and orders, financial and workforce pressures. It is important to ensure business continuity without compromising on the health and safety of our people, in our continued combat against Covid-19.

Government of India has identified 12 sectors where India can become self-reliant which include food processing, electronics, industrial machinery, furniture, leather, auto parts, textiles and ventilators which can provide opportunities apart from new user segments especially agriculture machinery, medical equipments, defence, and other emerging sectors. Businesses need to expand their horizons through partnerships and explore new sectors for growth.

The union government has announced a series of stimulus measures for MSMEs to improve liquidity and meet cash flow requirements. Member companies are urged to explore and judiciously take advantage of them.

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.
 

News Updates

 
  Auto dealers seek higher margins
to offset slump in sales, save jobs
(Economic Times, May 27, 2020).		   Ola Electric acquires
Amsterdam-based e-scooter firm Etergo
(Economic Times Auto, May 27, 2020).		  
         
  States should come forward with Rs 20 lakh cr
to battle COVID-19 disruptions: Nitin Gadkari 
(Economic Times Auto, May 27, 2020).		   Indian Banks may need $20-50 bn capital
over next 1-2 years as bad loans set to rise
(Economic Times, May 28, 2020)		  
         
  What does a GDP contraction
in FY 2020-21 entail for India?
(Hindustan Times, May 28, 2020).		   Maruti looks at leasing option as sales decline
(Livemint, May 28, 2020).		  
         
  Nissan to set out survival
plan after expected annual loss
(Economic Times Auto, May 28, 2020).		   Covid-19 effect: Deloitte consumer survey shows change in spending pattern over last six weeks
(Economic Times, May 25, 2020).		  
         
  Rise in cyber-attacks as cloud services use goes up
during Covid-19-induced work-from-home: McAfee
(Financial Express, May 28, 2020).		   Covid-19: US worst-hit country as coronavirus
death toll crosses 1,00,000; cases near 17 lakh
(New Indian Express, May 28, 2020).		  
 

Central Government Advisories
 
 

Ministry of Chemicals and Fertilizers

To deal with Covid-19, CIPET will take up R&D initiatives in the areas of healthcare, manufacturing and certifying PPE and other relevant products as per WHO / ISO guidelines. Read More

      

Reserve Bank of India

Import of goods and services - Extension of time limits for Settlement of import payment. Read More

  
 

State Government Advisories
 
 

Government of Karnataka

Movement of people across districts in Karnataka during Lockdown 4.0. Read More

      

Government of Uttarakhand

The state government has demarcated zones into red, orange and green zones on basis of active Covid-19 cases. Read More

  
 

National Best Practices
 
 

Government of Tamil Nadu

Tamil Nadu government has inked pacts with 17 companies for bringing in fresh investments of over Rs 15,100 crore that will create job opportunities for about 47,150 people in the state. Read More

      

Mercedes Benz

Mercedes Benz has tailored a bouquet of flexible financial solutions ‘Wish Box 2.0’. These draw-cards include extended loan tenures of 10 years, lower EMIs of Rs 1,499 per Rs 1 lakh, and EMI holidays for the first three months. Read More

  
             
 

Renault-Nissan-Mitsubishi

The members of one of the world’s leading automotive alliances, Groupe Renault, Nissan Motor Co and Mitsubishi Motor Corporation have announced several initiatives as part of a new cooperation business model to enhance the competitiveness and profitability of the three partner companies. Read More

      

Volkswagen India

Volkswagen has introduced leasing options and flexible financing instruments for purchase of its vehicles with an aim to drive sales in a market battered by Covid-19 disruptions. Read More

  
 

Global Best Practices
 
 

Del Monte

Del Monte Foods donates $2 million worth of its products to Feeding America. Read More

      

Ericsson

Ericsson joins UNESCO-led Global Education Coalition and launches a digital program delivering online learning which can be accessed free of charge. Read More

  
             
 

Government of China

President Xi Jinping's call for national efforts to foster new growth drivers and leverage China's economic resilience, to ensure steady development amid rising challenges, has laid out a clear direction for the country's economic and social policies and substantially boosted people's confidence. Read More

      

Amazon

Amazon says it will produce hundreds of thousands of face shields for medics and sell them at cost price in the US. Read More

  
 
Online Training Programmes
 

The following are paid programmes conducted online:

  • Building Lean Culture through Value Stream Mapping (May 29, 2020, 3.00 p.m. - 6.00 p.m.). Register Now
  • Cleaning of Machined Parts - Need, Process, Do's and Don’ts (May 30, 2020, 10.00 a.m. - 1.00 p.m.). Register Now
  • PFMEA - Process Failure Mode and Effects Analysis (May 30, 2020, 3.00 p.m. - 6.00 p.m.). Register Now
  • Understanding and Implementing GD&T - Form, Orientation, Location, Profile and Run Out Tolerances (May 31, 2020, 10.00 a.m. - 1.00 p.m.). Register Now
  • Sensors for Industrial Automation – Types, Selection and Applications (June 3, 2020, 2.00 p.m. - 5.00 p.m.). Register Now
  • Induction Hardening (June 4, 2020, 2.00 p.m. - 5.00 p.m.). Register Now
  • Selection of Motors for Industrial Applications (June 5, 2020, 2.00 p.m. - 5.00 p.m.). Register Now
  • Anti Friction Bearings - Types, Selection and Applications (June 6, 2020, 10.00 a.m. - 1.00 p.m.). Register Now
  • World Class Manufacturing - What, Why and How; Tools and Techniques (June 6, 2020, 2.30 p.m. - 5.30 p.m.). Register Now
  • Machine Tool Spindles - Design Approach (June 7, 2020, 10.00 a.m. - 1.00 p.m.). Register Now
  
 
  IMTMA Covid-19 Policy Advocacy       IMTMA Covid-19 Help Desk  
             
 

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

      

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.