BMW i7 Rolls Out of Chennai: India Joins Germany in Luxury EV Manufacturing

BMW has begun local production of its flagship i7 electric sedan at the Chennai plant, making India the only country outside Germany to manufacture the model. The locally built i7 eDrive50 xDrive M Sport is priced at ₹1.95 crore, while the performance‑focused i7 M70 xDrive remains an import at ₹2.65 crore, with deliveries starting October 2026.

With this decision of BMW elevates India from a consumption market to a manufacturing hub for high‑end EVs. In global production footprint, this mirrors BMW’s strategy in Hungary (Debrecen plant producing iX3), now extended to its most luxurious EV.

Notably, BMW faces margin pressures due to cooling demand in China and geopolitical tensions, making localized production in India a hedge against volatility.

BMW’s Strategic Leap

BMW's commenced local production of the i7 electric sedan at its Chennai plant, positioning India as the only country outside Germany to manufacture this flagship EV. This milestone underscores BMW’s confidence in India’s luxury EV market and its ambition to integrate the country into its global supply chain.

Model Lineup & Pricing

• i7 eDrive50 xDrive M Sport
  - Locally assembled in Chennai
  - 455 hp, 660 Nm torque
  - 728 km WLTP range
  - Priced at ₹1.95 crore
  
• i7 M70 xDrive
  - Imported from Germany
  - 680 hp, 1,100 Nm torque
  - 686 km WLTP range
  - 0–100 km/h in 3.8 seconds
  - Priced at ₹2.65 crore
  

Deliveries for both models begin in October 2026.

Charging & Technology

• Fast charging: DC charging up to 250 kW (10–80% in 28 minutes)
• Home charging: Complimentary 22 kW BMW Wallbox (≈6 hours full charge)
• Battery: 112.5 kWh pack with advanced thermal management

Why India Matters

• EV manufacturing hub: India’s inclusion in BMW’s global EV roadmap elevates its role beyond consumption to high‑end production
• Luxury EV market: Local assembly reduces import duties, making premium EVs more accessible
• Global footprint: Chennai joins Germany as a production site for BMW’s most advanced electric sedan

Challenges Ahead

• BMW’s move comes amid cooling demand in China and global margin pressures
• By localizing production in India, BMW hedges against volatility while competing with rivals like Mercedes EQS and Audi e‑tron GT. 

Other Luxury Cars Brands in India 

Besides BMW, several other global luxury carmakers have established local production in India, including Mercedes‑Benz, Audi, Jaguar Land Rover, and Porsche (via VW Group). These brands assemble or manufacture select models at facilities in Pune, Chennai, and other hubs to reduce import duties and expand their footprint in India’s fast‑growing premium market.

Mercedes‑BenzOperates a major plant in Chakan, Pune, and produces models like the E‑Class long wheelbase, GLC, GLE, and Maybach variants. India is one of Mercedes’ largest CKD (Completely Knocked Down) assembly markets.

Audi, as part of Škoda Auto Volkswagen India, assembles select models in Aurangabad, Maharashtra. It focus on assembling SUVs like Q3, Q5, Q7, and performance sedans.

Jaguar Land Rover (JLR) operates a plant in Pune. It produces models such as the Discovery Sport and Range Rover Evoque for the Indian market.

Porsche (via VW Group) imports most of the Porsche cars' models, though VW Group’s India operations in Aurangabad, Maharashtra, do support assembly of its select premium models.

Škoda & Volkswagen operate plants in Aurangabad and Pune, producing premium sedans and SUVs.Brands under the group include Škoda, Volkswagen, Audi, Bentley, Lamborghini, Porsche.

Editorial Takeaway

BMW’s Chennai production of the i7 is more than a manufacturing milestone — it’s a statement of intent. India is no longer just a market for luxury EVs; it is now a strategic production hub shaping the future of premium electric mobility.

Local assembly reduces import duties, making premium EVs more accessible to Indian buyers.

BMW’s move to produce the i7 in Chennai is both symbolic and strategic: it cements India’s place in the global EV map, offers Indian buyers cutting‑edge luxury mobility at competitive pricing, and strengthens BMW’s resilience against global market uncertainties.

India’s luxury EV market is heating up with rivals like Mercedes EQS and Audi e‑tron GT, positioning the i7 as a direct competitor

Vikram Solar Seals 1 GW Pact with Avaada Electro to Bolster India’s DCR Supply Chain

Kolkata: Vikram Solar, a pioneer in Indian solar module manufacturing, has entered into a domestic cell supply agreement with Avaada Electro, reinforcing its foothold in India’s fast-expanding Domestic Content Requirement (DCR) segment and strengthening long-term supply-chain resilience.

Under the agreement, Avaada Electro will supply 1 GW of ALMM-compliant domestically manufactured half-cut N-Type G12R TOPCon solar cells for Vikram Solar’s module manufacturing operations. Deliveries are scheduled to commence in September 2026, ensuring consistency in supply and operational continuity to meet the country's growing DCR requirements.

This agreement marks a further step in Vikram Solar's penetration of the domestic DCR market and its strategy to diversify and strengthen its cell supply chain, adding to the supply agreements the company has entered into earlier this year. It also complements Vikram Solar's backward integration strategy, anchored by its upcoming 9 GW high-efficiency solar cell manufacturing facility, scheduled to commission in Q4 FY27.

Mr. Gyanesh Chaudhary, Chairman & Managing Director, Vikram Solar, said:

"The next phase of India's solar growth will be won or lost on supply chain depth, not just manufacturing scale. This arrangement is another step in that direction- one that widens our supplier base, strengthens our hand on DCR, and gives us the confidence to commit to India's energy security with fewer variables outside our control. Atmanirbhar Bharat won't be built by any single partnership; it'll be built by companies that keep making these choices, year after year.”

About Vikram Solar Limited:

Vikram Solar Limited is one of the leading Indian solar module manufacturers, specializing in efficient photovoltaic (PV) module manufacturing, with an international presence across 39 countries. Headquartered in Kolkata, West Bengal, it is one of the largest PV module manufacturers in India. Vikram Solar is a 9th time ‘Top Performer’ in PVEL’s PV Module Reliability scorecard and has been included in the Tier 1 solar PV modules manufacturer list of Bloomberg NEF for 9 consecutive quarters. Vikram Solar Limited has established a pan-India presence through an extensive distributor network of 119 authorized distributors and more than 750+ dealers.

For further information, please contact: Srabani Sen | Vikram Solar | Mobile: +91 7349661300 | Email: press@vikramsolar.com

EBG Group Launches Adhira & Appa Toys With ₹50 Cr Investment, Championing Vocal for Local & Made‑in‑India Toy Innovation

• Building on the success of 50+ Adhira & Appa cafés, the new brand will open its first store in Hyderabad with a portfolio of 1,335 products across learning, creativity, STEM, collectibles and play. 
• With a ₹50 crore investment, the group plans to expand to over 50 stores across major Indian cities by 2027, with Game Zones, experiential play areas and learning workshops planned as part of the brand's growth roadmap.
• Union Government report states that the country emerged as a net exporter of toys in FY 2025–26, with toy imports declining by 37.5% and toy exports increasing by 89.1%

EBG Group, a fast-growing Indian business conglomerate and brand incubator, has announced the launch of Adhira & Appa Toys, a homegrown children’s toy and lifestyle brand, marking its entry into the toys, play, learning and family experience segment. The brand will begin its retail journey with its first store in Hyderabad by the end of 2026, built around a simple idea that toys should offer children more than entertainment. They should encourage curiosity, imagination, creativity and learning, while giving families opportunities to discover and enjoy products together. Backed by an investment of over ₹50 crore, the brand plans to expand to 50 stores across Indian cities by 2027.

Commenting on the announcement, Dr. Irfan Khan, Founder and Chairman, EBG Group, said, “We are not building another toy store. We are building a world where children can explore, imagine, learn and dream. For us, a good toy should create joy today, curiosity tomorrow and memories that stay with a child for years. The first portfolio features 1,335 products for children from infancy through the pre-teen years. Parents will be able to choose from:

• STEM and educational toys
• Construction and building sets
• Robotics and science kits
• Sensory-development toys
• Puzzles and board games
• Arts and crafts
• Pretend-play products
• Dolls and action figures
• Remote-control vehicles
• Ride-ons and tricycles
• Plush toys
• Outdoor play products
• Electronics and collectibles

This approach is aligned with the Government of India’s Vocal for Local and Made in India initiatives, which encourage stronger domestic manufacturing and innovation in the toy sector. Adhira & Appa Toys is working with Indian manufacturing partners to bring safe, imaginative, aspirational and globally competitive toys to Indian families. Union Government report states that the country emerged as a net exporter of toys in FY 2025–26, with toy imports declining by 37.5% and toy exports increasing by 89.1%. Indian-made toys are now being exported to markets including the United States, the United Kingdom, the Netherlands and Germany, reflecting the growing global acceptance of products manufactured in India.

Finance Minister Nirmala Sitharaman has also urged the Indian toy industry to look beyond the projected USD 5 billion Indian toy market by 2034 and aim for a larger share of the projected USD 179 billion global toy market by 2032, highlighting the sector’s long-term growth and export potential.

Hari Haran Chandrasekharan of the Adhira & Appa Toys vertical within the EBG Group ecosystem noted that sustainability is another part of the brand’s approach, beginning with domestic and regional sourcing that can help shorten supply chains and support Indian manufacturers. At the retail level, the brand plans to reduce unnecessary single-use materials, explore reusable and recyclable packaging and merchandising solutions, minimise inventory-related wastage and adopt responsible energy practices wherever feasible.

The brand is also planned to go beyond toys. The roadmap includes Adhira & Appa Game Zones, experiential play areas, learning and creative workshops, collectibles, gifting, children’s merchandise and parent-child experiences. An integrated digital and omnichannel platform is also planned, allowing the brand to connect its physical and online experiences.

The company plans to use its first store in Hyderabad to understand customer needs and establish its operating model before expanding to other markets. Over the years, Adhira & Appa aims to build a presence across major metros and high-potential Tier-1 and Tier-2 cities through a mix of flagship stores, standard stores, compact mall formats and shop-in-shop opportunities, with experiential Game Zones and learning workshops forming part of the brand’s growth roadmap. It plans to expand to 50 stores across Indian cities by 2027 with the total investment of over 50 crores.

With its combination of a broad product range, learning-focused offerings, Made-in-India manufacturing and plans for experiential formats, Adhira & Appa Toys seeks to offer parents a more engaging way to discover products for their children while creating a larger world of play and learning for young customers. As part of its focus on strengthening domestic manufacturing, Adhira & Appa Toys is working with Aditi Toys, an established Indian toy manufacturer based in Rajkot.

About EBG Group

EBG Group is a multi-sector Indian conglomerate with a diversified presence across Mobility, Health, Realty, Lifestyle, Food, Services, Technology, and Education. From sustainable electric vehicles and physiotherapy-led wellness solutions to smart housing, hospitality, and traditional food experiences, EBG builds brands that combine innovation, sustainability, and human purpose. The Group’s Powerhouse hubs align business excellence with its core vision: People • Planet • Progress.

Vedanta Aluminium, V‑Spark launch MetALverse in Odisha; partners with OpenAI, Microsoft, SAP to unlock ₹2,100 crore AI‑driven value

Several MoUs to deploy deep tech solutions were announced during MetALverse, Vedanta Aluminium’s tech showcase in Jharsuguda, Odisha that featured participation from major tech leaders and emerging startups

Vedanta Aluminium, India's largest aluminium producer, in collaboration with V-Spark, India's largest manufacturing deep tech incubator, recently hosted MetALverse, an immersive tech showcase in Jharsuguda, Odisha. The company also announced partnerships with several cutting-edge technology providers, including market leaders such as OpenAI, Microsoft and SAP. Together, they will deploy innovative, multi-pronged solutions to cumulatively unlock up to ₹2,100 crore in value through the enhanced adoption of AI, digitalisation and automation technologies across Vedanta Aluminium’s operations.

Vedanta Aluminium’s MetALverse event was envisioned as a strategic platform to accelerate the deployment of breakthrough technologies across large-scale industrial operations, by bringing together global technology leaders, emerging startups, and top business experts. The partnerships will focus on evaluating, piloting and scaling next-generation solutions across Vedanta Aluminium’s operations. The value opportunity of ₹2,100 crore will be achieved through the integration of innovative solutions for enhanced plant productivity, cost optimisation, asset reliability and sustainability initiatives across Vedanta Aluminium's integrated value chain.

The event reflects a shared vision between Vedanta Aluminium and V-Spark to bridge the gap between groundbreaking deep tech innovation and real-world deployment, by identifying high-impact technologies, validating them in live operating environments and accelerating their adoption. Vedanta Aluminium has already established a fully integrated value chain that ranges from mining to alumina refining to aluminium production. By leveraging the company’s vast, cutting-edge manufacturing plants - some of which are amongst the largest in the world - as a mega incubation environment, V-Spark aims to rapidly transform promising innovations into industry-ready deployments while also co-creating a robust AI-led manufacturing ecosystem.

Priya Agarwal Hebbar, Non-Executive Director, Vedanta Limited and Chairperson, Hindustan Zinc, said "India’s manufacturing sector is entering a defining decade. The future will belong to companies that combine scale with intelligence, sustainability and the courage to rethink what is possible. At Vedanta Aluminium, we see AI as a catalyst for that transformation, with human intelligence providing the judgement and direction behind it. We are bringing together the best minds across industry and technology because we don’t want to simply make today’s plants better. We want to build the metal of the future, using the technologies of the future."

Akarsh Hebbar, Non-Executive Vice Chairman, Vedanta Aluminium and Chairman, V-Spark DeepTech Ventures, said "The greatest opportunity in industrial innovation lies in deploying new technologies at scale to create measurable business value. Vedanta Aluminium, as one of the top producers of the metal of the future globally, provides the expansive operating footprint, technical depth and determination to industrialise breakthrough solutions, while V-Spark is the engine that identifies, validates and accelerates these technologies from concept to enterprise-wide deployment. We aim to partner with several industrial solutions to scale and transform creative innovation into tangible productivity gains, stronger sustainability, enhanced reliability and significant value creation."

Pinak Dattaray, Founder & CEO, Ripik.AI, said "AI is creating new opportunities for industrial organisations to transform how knowledge is accessed, decisions are made and operations are managed. At Ripik.AI, we are focused on making advanced AI capabilities accessible through tools that help people and organisations solve complex problems and work more effectively. We are excited to collaborate with Vedanta Aluminium as it explores new applications of AI across its business. The company demonstrates how leading manufacturers can combine deep operational expertise with cutting-edge AI to unlock innovation, improve performance and create meaningful value at scale."

At MetALverse, Vedanta Aluminium announced collaborations with several top technology companies and emerging innovators to accelerate AI-led transformation across its operations. The identified partners include OpenAI for generative AI and intelligent agents; Microsoft for cloud, AI and enterprise transformation; SAP for integrated enterprise processes; AVEVA for industrial data, digital twins and advanced analytics; Rockwell Automation for smart manufacturing and control systems; Thoughtworks for digital engineering; and Fives for aluminium process technologies and carbon plant optimisation. The company has also partnered with deep-tech innovators including Ripik.AI for industrial vision and process optimisation; XYMA for high-temperature asset monitoring; Faclon for industrial intelligence and connected manufacturing; DesignX for AI-enabled factory workflows; DigitalPaani for industrial water optimisation; AutoVRse for immersive workforce training; Enmovil for AI-led logistics; and ideaForge for drone-based industrial intelligence.

These collaborations will focus on technical evaluation, data integration, pilot deployment and scale-up potential. Through its V-Spark innovation ecosystem, the company aims to rapidly validate and deploy solutions that strengthen productivity, safety, sustainability, asset reliability and operational decision-making. Presently, Vedanta Aluminium is actively collaborating with nearly 70 startups under the program, spanning one of the world’s largest alumina refineries in Lanjigarh, Odisha, the world’s largest single-location aluminium plant in Jharsuguda, Odisha, and India’s iconic aluminium producer, BALCO in Korba, Chhattisgarh.

About Vedanta Aluminium Metal Limited:

Vedanta Aluminium Metal Limited is one of the world’s leading producers of aluminium, ‘the Metal of the Future’ powering advanced manufacturing, the energy transition, and next generation technologies. As India’s largest aluminium producer, the Company operates integrated, world-class assets including a state-of-the-art alumina refinery, one of the world’s largest aluminium smelter complex in Odisha, and the iconic Bharat Aluminium Company (BALCO). With a diverse portfolio of high-quality aluminium products, Vedanta Aluminium caters to discerning customers across more than 60 countries and plays a vital role in global industrial supply chains. The company is recognised among global peers for its sustainability leadership, as reflected in its strong performance in the S&P Global Corporate Sustainability Assessment. By advancing the possibilities of aluminium - the Metal of the Future - Vedanta Aluminium continues to enable next generation industries while creating enduring value for customers, communities, and shareholders. For more information, visit: https://vedantaaluminium.com/

About V-Spark DeepTech Ventures:

V-Spark DeepTech Ventures Pvt. Ltd., Vedanta’s dedicated deep-tech and innovation arm, is accelerating technology-led transformation across the Group’s mining, metals and manufacturing businesses. Operating as a venture-client platform for all Vedanta entities, V-Spark partners closely with startups, MSMEs and global technology leaders to rapidly pilot, deploy and scale cutting-edge solutions across AI/ML, automation, robotics, drones, computer vision and advanced digital technologies. With a strong focus on operational excellence, volume-cost optimisation, reliability, sustainability and ESG integration, the platform is also enabling strategic investments in future-ready innovations. Through its robust global startup ecosystem and scalable innovation capabilities, V-Spark is positioning Vedanta at the forefront of industrial deep-tech adoption and next-generation manufacturing transformation.

Boost to Atmanirbhar Bharat: Adani Defence to Manufacture AK-203 Ammunition

Adani Defence & Aerospace has signed a five-year agreement with Indo-Russian Rifles Private Limited (IRRPL) to supply indigenously manufactured 7.62×39 mm ammunition for AK-203 assault rifles, marking a major boost to India’s Atmanirbhar Bharat defence initiative. The pact integrates rifle production and ammunition supply under one domestic framework, strengthening India’s self-reliance in small arms.

Key Highlights of the Agreement

• Parties involved: Adani Defence & Aerospace and Indo-Russian Rifles Private Limited (IRRPL)
• Duration: Five years
• Scope: Supply of 7.62×39 mm ammunition for AK-203 rifles
• Facility: Adani’s Kanpur plant will manufacture the ammunition
• Integration: Links IRRPL’s rifle production at Korwa, Amethi, with Adani’s ammunition supply

Background on the AK-203 Programme

• Origin: AK-203 is part of the Kalashnikov family, combining Russian design with Indian manufacturing
• Contract: In December 2021, India’s Ministry of Defence signed a contract for 6,01,427 rifles
• Production: IRRPL has delivered around 70,000 rifles from its Korwa factory
• Indigenisation milestone: The first 100% Indian-made AK-203 rifle, named “Sher”, was successfully test-fired

Strategic Significance

• Self-reliance: Reduces dependence on imported ammunition
• Economic impact: Supports India’s ₹5,124 crore rifle localisation programme
• Defence ecosystem: Strengthens private-sector participation
• Operational readiness: Guarantees steady ammunition availability

Challenges & Considerations

• Undisclosed contract value: Financial details remain confidential
• Execution risks: Timely delivery and quality assurance are critical
• Geopolitical sensitivity: Must navigate Indo-Russian defence dynamics

Quick Comparison: Rifle vs Ammunition Roles

AK-203 Rifle	Ammunition Supply
Manufactured by IRRPL at Korwa, Amethi	Manufactured by Adani Defence at Kanpur
Contract for 6,01,427 rifles	Five-year supply pact (volumes undisclosed)
Based on Kalashnikov design	7.62×39 mm calibre rounds
Delivered ~70,000 rifles so far	Ensures continuity of supply for contract period

Raymond to Build ₹510 Crore Aerospace Hub in Andhra Pradesh, Expanding Global Aero-Engine Capabilities

• Raymond is building capabilities to participate in the next phase of global aerospace manufacturing.
• ₹510 crore aerospace facility under development in Andhra Pradesh

Raymond Limited, the flagship company of the Raymond Group is looking to deepen its participation in the Aerospace business, building on more than two decades of relationships with global OEMs and Tier-1 suppliers and a growing portfolio of high-precision aero-engine components and assemblies.

India is at an inflection point in aerospace manufacturing. As aircraft demand rises and global aerospace companies look to build more resilient and diversified sourcing networks, Indian manufacturers are finding a larger role within an industry traditionally dominated by established global supply bases.

The opportunity is visible in the increasing scale of global aerospace sourcing from India. Airbus currently sources more than US$1.5 billion annually from the country, while Boeing's annual sourcing from India has crossed US$1.25 billion. Yet India's share of the global aerospace supply chain remains relatively small, leaving considerable room for Indian engineering companies to take on more complex and higher-value work.

Mr. Gautam Maini, Managing Director – Engineering Business, Raymond Limited, said, “Aerospace rewards consistency over the long term. Customer relationships are built through qualification, performance and the ability to deliver the same level of quality every time. We are seeing customers increasingly look for partners who can handle not only individual components but also more integrated requirements. Our ambition is clear to build from India, meet global aerospace standards and become a more meaningful part of the supply chains that will shape the next generation of aviation.”

For Raymond engineering arm, this journey is already well underway. Through JK Maini Global Aerospace Limited (JKMGAL), the Company has developed more than 1,300 aero-engine parts, including over 350 components for the latest LEAP engine variants. The business has relationships spanning more than two decades with leading aerospace OEMs and Tier-1 suppliers and serves more than 25 global aerospace component manufacturing customers, several through relationships spanning more than two decades, and has expanded into new geographies including the UK, Belgium and Sweden. More than 75% of its operations are derived from complex aero-engine parts.

The business added more than 100 new SKUs during FY2025–26 and has an order book of over ₹2,350 crore for the next five years, providing visibility for continued expansion.

The Company's aerospace portfolio spans turbine vanes and stator blades, engine mounts and brackets, fuel-system components and complex machined engine parts. It is also expanding into assemblies and other higher-value applications, allowing Raymond to participate in a broader part of the manufacturing process rather than limiting its role to individual components.

With global aerospace manufacturers increasing their engagement with Indian suppliers, Raymond sees an opportunity to build on its existing customer relationships, expand its manufacturing footprint and take on a greater share of the work that goes into aircraft engines and systems around the world.

About Raymond Limited

With the inception in 1925, Raymond Group has been a pioneer and leader in fabric manufacturing and then forayed in other sectors such as engineering and Real Estate. After demerging its Lifestyle Business and Real Estate verticals into independent entities, Raymond Limited now has two core businesses within the Engineering vertical - Tools & Auto Components and Aerospace and Defence. Raymond’s engineering business commands a leadership position in manufacturing files and hand tools and has a significant presence in national and international markets. With the acquisition of Maini Precision Products Limited (MPP) Raymond’s engineering business has forayed into the sunrise sectors of Aerospace and Defence. EV components and caters to international as well as domestic markets.

To know more, visit us today at www.raymond.in

Tunnel‑Boring Machines at Heart of India’s $1.2B Construction Boost

India is finalizing a US$1.2 billion (approx.  ₹114,318 crore) incentive scheme to boost domestic manufacturing of advanced construction equipment such as tunnel-boring machines, elevators, and firefighting systems, aiming to cut reliance on Chinese imports and attract $1.8 billion in fresh investment over seven years, said a reported news agency Reuters. 

India’s dependence on imported tunnel‑boring machines (TBMs), particularly from China, has become a strategic vulnerability, prompting a ₹1.2 billion incentive scheme to build domestic capacity. Imports have fallen sharply since 2020 border clashes, but local production remains limited, with firms like BEML and Larsen & Toubro now positioned to benefit.

Key Highlights of the Incentive Plan

• Funding Size:  ₹114,320 crore ($1.2B) in incentives
• Duration: Spread over seven years
• Target Investment: Expected to draw $1.8 billion in new investment
• Focus Areas:
  • Tunnel-boring machines
  • Elevators
  • Firefighting equipment

Strategic Context

India has relied on Chinese TBMs for metro rail and highway construction. Imports dropped from $18 million in 2022–23 to just $800,000 in 2025–26, largely due to restrictions and customs delays imposed by Beijing.

• Import Dependence: Heavy reliance on Chinese tunnel-boring machines; imports dropped since 2020 border clashes
• Domestic Push: Scheme designed to make local production viable with value-addition targets
• Beneficiaries: BEML, Larsen & Toubro, Johnson Lifts

Market Impact

• Construction Equipment Market Size: Valued at ₹1 trillion ($10.5B)
• Growth Drivers: Roads, metros, airports, smart city projects
• Policy Goal: Reduce reliance on imports, strengthen supply chain resilience, support Make in India

Equipment Type	Current Status	Policy Impact
Tunnel-boring machines	Mostly imported from China	Incentives for local production, BEML & L&T to benefit
Elevators	Domestic players exist but rely on imports	Boost to Johnson Lifts & others
Firefighting equipment	Largely imported	Push for indigenous manufacturing

Risks & Challenges

• Execution Risk: Previous attempts struggled to scale
• Technology Gap: Tunnel-boring machines are highly sophisticated; R&D hurdles likely
• Global Supply Chain Pressure: China’s export restrictions since 2024 highlight vulnerability

Outlook

• If implemented effectively, the scheme could transform India’s construction equipment sector
• Reduce strategic dependence on China
• Create a globally competitive domestic industry
• Aligns with India’s infrastructure expansion and self-reliance agenda

If successful, the scheme could transform India’s construction equipment sector, reduce strategic dependence on China, and create a globally competitive domestic industry. It directly supports India’s infrastructure expansion goals and self‑reliance agenda.

India’s GX Group Ignites Photonics Revolution with December Launch

GX Group will commence operations at its new advanced photonics facility in India this December, with an initial ₹500 crore investment and plans to create around 200 highly skilled jobs. The facility will manufacture critical optical components like SFP transceivers, TOSA, and ROSA, reducing India’s reliance on imports.

The company plans to invest ₹500 crore in the advanced photonics facility initially, and has received government approval for the first phase of the project under the Electronics Component Manufacturing Scheme (ECMS) entailing investments of ₹100 crore, GX Group CEO and founder Paritosh Prajapati told news agency PTI.

Key Highlights

• Start Date: December 2026
• Investment: ₹500 crore (Phase 1: ₹100 crore under ECMS)
• Location: India (exact site not disclosed publicly yet)
• Jobs Created: ~200 highly skilled positions
• Focus Products: SFP transceivers, TOSA, ROSA
• Subsidiary: GX Quantum Photonics will lead component development

Strategic Importance

• Domestic Manufacturing Boost: India currently imports or assembles most optical components. GX Group’s facility will reduce dependency on imports and strengthen local supply chains.
• Telecom & AI Data Centers: These components are vital for high-speed data transmission, supporting telecom operators and AI-driven data centers.
• Photonics Packaging & Chip Design: GX Group aims to build capabilities in photonics packaging and chip design, progressively increasing domestic value addition.

Comparison: Current vs. Future State

Aspect	Current Scenario	Post-GX Facility Launch
Optical Components Supply	Mostly imported or assembled	Locally manufactured
Jobs	Limited specialized roles	~200 high-tech jobs created
Technology Base	Copper-based PCBs dominate	Optical transmission-based PCBs
Data Transmission Speed	Standard	Significantly enhanced
Value Addition	Low domestic contribution	Higher domestic value addition

Risks & Challenges

• Scaling Production: Transitioning from imports to local manufacturing requires supply chain stability and skilled workforce training.
• Global Competition: Established players in Taiwan, China, and the US dominate photonics; GX Group must innovate rapidly to stay competitive.
• Technology Adoption: Shifting from copper-based to optical PCBs will demand industry-wide adaptation.

Outlook

GX Group’s move aligns with India’s Electronics Component Manufacturing Scheme (ECMS) and broader push for self-reliance in high-tech sectors. If successful, this facility could position India as a regional hub for advanced photonics, supporting next-gen telecom, AI, and data infrastructure.

Jindal Steel and IIT Hyderabad to Establish Centre of Excellence (CoE) for Advanced Steel Solutions

• Centre to combine IITH’s technical capabilities with Jindal Steel’s manufacturing, metallurgical and engineering expertise.
• Focus on applications across infrastructure, construction, defence, power, transportation and heavy engineering.
• Centre to support application development, technical demonstrations, training, industry engagement and knowledge sharing.

Jindal Steel, one of India’s leading steel manufacturers, and the Indian Institute of Technology Hyderabad (IITH) have signed a Memorandum of Understanding (MoU) to establish the Jindal Steel Centre of Excellence (CoE) for High-Strength, Value-Added and Value-Engineered Steel Products and Solutions at the IIT Hyderabad campus.

The first-of-its-kind Centre will accelerate the application and adoption of advanced steel solutions across infrastructure, engineering, construction and strategic industrial sectors. The Centre will combine IITH’s technical capabilities with Jindal Steel’s manufacturing, metallurgical and engineering expertise to develop and demonstrate applications for high-strength, value-added and value-engineered steels. These solutions are aimed at offering higher performance, lower material consumption, reduced weight, faster execution, improved durability and better lifecycle economics.

The applications will span buildings and bridges, penstocks and large-diameter pipes, defence, yellow goods and heavy equipment, power plants, refineries, transportation, heavy engineering and other critical industrial applications. The Centre will work with designers, consultants, engineers, fabricators, EPC companies, equipment manufacturers and project developers to identify applications and facilitate the adoption of advanced steel grades.

Jindal Steel will invest in developing a physical Centre of Excellence (CoE)at the IIT Hyderabad campus, which will serve as a hub for application development, technical demonstrations, training, industry engagement and knowledge sharing.

Speaking on the partnership, Prof. B S Murty, Director, IIT Hyderabad, said “This Centre of Excellence strengthens IITH’s role in promoting advanced steel solutions across India’s engineering, infrastructure and industrial sectors. It will enable faculty and students to work closely with industry on real-world applications and demonstrate how high-strength and value-engineered steels can drive efficiency, performance and sustainability. We look forward to an impactful partnership with Jindal Steel."

Mr V R Sharma, Managing Director, Jindal Steel, said: “Partnering with IIT Hyderabad is a major step in expanding the use of high-strength and value-engineered steel across India’s infrastructure, engineering and industrial sectors. By combining IITH’s technical capabilities with Jindal Steel’s manufacturing, metallurgical and engineering expertise, the Centre will demonstrate solutions that are stronger, lighter, faster and more efficient across a wide range of applications. Our goal is to accelerate their adoption in real-world projects.

The partnership will include application development programmes, workshops, symposia, industry-academia training, demonstration projects, student internships and placements, academic modules and industry engagement initiatives. The Centre will also engage with industry stakeholders, government agencies and end users to support technical evaluation and enable the adoption of advanced steel solutions at scale.

About Jindal Steel:

Jindal Steel is one of India’s foremost integrated steel producers, renowned for its scale, efficiency, and commitment to excellence. Operating on a robust mine-to-metal model, the Company leverages captive resources, Advanced Manufacturing capabilities, and a global distribution network to deliver high-performance steel solutions.

With an investment footprint exceeding USD 12 billion, Jindal Steel runs state-of-the-art facilities in Angul, Raigarh, and Patratu, and maintains strategic operations across India and Africa. Its diversified and future-ready product portfolio underpins core sectors such as infrastructure, construction, and manufacturing, powering progress through strength and sustainability.

About IITH:

IITH, established in 2008, has reached a respectable position in academics, research, technology development, and Start-ups in a short span of 17+ years. In the National Institutional Ranking Framework (NIRF-2025), IITH is ranked 7th among Engineering institutes (crossing a first-generation IIT this year), and is ranked 6th in Innovation, while it has maintained its rank within the top 10 Engineering Institutes ever since NIRF was launched. IITH is ranked 588th in the QS World University Rankings 2027 and 270th in the QS Asian University Rankings 2026 (123rd globally in citations per faculty). IITH has recorded a major leap in the QS World University Rankings by Subject 2026, entering the global Top 400 in Engineering & Technology with a rank of 395, marking a sharp improvement from the 501–550 band in 2025. IITH secured 46 positions by 31 faculties in the Stanford /Elsevier Global Top 2% Scientists list 2025 across two categories. IITH has been striving for excellence with its vision of "Inventing & Innovating in Technology for Humanity," guided by its newly adopted Sanskrit Motto, "नवोन्मेषेण देशनिर्माणम्" (Nation Building through Innovation).

With 350+ full-time Faculty, 350+ non-teaching Staff and 6140+ Students (PG+PhD students accounting for about 60%), IITH has a strong research focus with 5830+ R&D Projects worth of Rs. 1845+ Cr (Rs. 245+ Cr funding in 2025-26), 14,040+ Publications, 2,85,210+ Citations, 165 h-index, 790+ Patents, 400+ granted patents (250 Patents in 2025, i.e., almost a patent on every working day in 2025), and about 300 Start-ups (that have generated 1100+ jobs with a revenue of Rs. 1500+ Cr).

The thrust areas of research at IITH are: Next-Generation Telecommunications, Autonomous Navigation, Robotics & Intelligent systems, Semiconductors & Devices, Additive Manufacturing, Advanced Materials & Critical Minerals, Materials characterisation, Catalysis, Healthcare, Energy, Sustainability, Climate Change, Smart Mobility, EV technology, Quantum technologies, Nuclear Energy, Computational Engineering, Design, AR/VR, Waste management, and Rural development. 

Saatvik Solar Signs an MoU with the Odisha Govt to Establish a 3.6 GW Solar Cell Manufacturing Facility at Gopalpur, Ganjam

Cell & Module Manufacturing Plant Odisha, SGEL

Saatvik Solar Industries Private Limited has signed a Memorandum of Understanding (MoU) with the Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL), Government of Odisha, for setting up a 3.6 GW Solar Cell Manufacturing Facility at Gopalpur in Ganjam district, Odisha.

The proposed facility marks an important step in Saatvik Solar’s plans to further expand its manufacturing capabilities in Odisha and contribute to the development of the state’s renewable energy manufacturing ecosystem. The project is also expected to create employment opportunities and support the development of the wider industrial ecosystem in the region.

The new facility will form part of Saatvik Solar’s broader manufacturing development at Gopalpur, where the company is already progressing with its Phase I integrated manufacturing facility. Phase I has achieved key construction and installation milestones and is now advancing towards commissioning. Tool installation is progressing well, with ramp-up set to commence shortly marking a significant step towards operational readiness.

Gopalpur Manufacturing Development Progresses Towards Commissioning

Saatvik Solar’s Phase I manufacturing facility at Gopalpur has made substantial progress, with major construction and infrastructure works completed and equipment installation and testing activities advancing across the facility.

Cell & Module Manufacturing Plant Odisha, SGEL

The company has also completed key power infrastructure milestones, with the dedicated 220 kV substation ready for charging. Manufacturing lines are progressing through the final stages of installation, testing, validation and process readiness, with the company moving towards the next stage of operations.

The cell line is on track for ramp-up shortly, marking a key step towards operational readiness, with the ALMM-II inspection planned for September—bringing the facility closer to full-scale commercialisation.

Commenting on the milestone, Mr. Prashant Mathur, CEO, Saatvik Green Energy Limited said, “Odisha is more than a manufacturing milestone for Saatvik; it is a statement of our ambition. As our 2.4 GW cell and 4 GW module manufacturing lines move towards production, we are taking a decisive step towards building scale, strengthening integration and creating the foundation for our next phase of robust growth. India’s clean energy opportunity is enormous, and we intend to play a defining role in it. Our ambition is to build manufacturing capabilities that are globally competitive, technologically advanced and deeply aligned with India’s journey towards energy security and self-reliance. Building on the momentum of Phase I, we are advancing plans for a further 3.6 GW Phase II expansion at Gopalpur, which will significantly scale our integrated manufacturing footprint and strengthen our ability to meet the growing demand for domestically manufactured solar products. With Phase II targeted for commercial production by FY28, we are preparing for the next leap in scale. The future we see is one where India is not only a major consumer of clean energy, but a global manufacturing powerhouse for it. Saatvik is determined to help build that future by investing in capacity, technology and excellence today and creating a stronger, more resilient and more sustainable energy ecosystem for tomorrow.”

Alongside the progress of Phase I, Saatvik Solar is advancing plans for the next phase of development at Gopalpur, which will further scale its integrated manufacturing capabilities. The Phase II 3.6 GW cell capacity expansion is being planned to support the growing demand for domestically manufactured solar products and deepen the company’s presence across the solar value chain.

The company’s phased development at Gopalpur reflects its long-term approach towards building an integrated and technologically advanced solar manufacturing ecosystem, with a focus on scale, operational excellence, quality and supply chain resilience.

ECMS Boosts India’s Electronics Manufacturing: 106 Projects Approved, ₹69,548 Crore Investment

India’s journey towards electronics self-reliance has gained significant momentum with the Electronics Component Manufacturing Scheme (ECMS), which is driving domestic production of critical components and raw materials.

Following the earlier clearance of 75 applications with investments totaling ₹61,671 crore, the Ministry of Electronics and Information Technology (MeitY) has now sanctioned an additional 31 proposals under the Electronics Components Manufacturing Scheme (ECMS), representing a projected investment of ₹6,844 crore.

The approval ceremony, held in New Delhi in collaboration with the Electronic Industries Association of India (ELCINA), was graced by Union Minister for Electronics and IT Shri Ashwini Vaishnaw, Minister of State Shri Jitin Prasada, MeitY Secretary Shri S. Krishnan, Joint Secretary Shri Sushil Pal, and ELCINA President Shri Sasikumar Gendham.

Expanding Manufacturing Capacity

• 38 plants operational
• 16 projects in advanced construction stages
• Domestic production exceeds demand in key categories:
  • Anode material (~110%)
  • Optical Transceiver-SFP (350%)
  • Relays (200%)

Employment and Economic Impact

• 74,628 direct jobs expected
• 2.5 lakh indirect jobs across 15 states
• Latest 31 approvals will create 9,588 direct jobs
• Additional ₹1,033 crore investment by Wipro for copper-clad laminates

Product Coverage

Category	Products
Sub-assemblies	Camera Module, Display Module, Optical Transceiver-SFP
Components	Connectors, Relays, Transducers, Filters, Capacitors, Coils, Antennas, Enclosures, Speakers & Microphones, Metal Shielding Covers
Supply Chain Products	Anode Material, Rare Earth Permanent Magnets, Acetylene Black, Electrolyte Additives, Metallized Films for Capacitors, Hermetic Terminals
Capital Goods	CNC Machines, Precision Instruments, Automation Systems

Geographic Spread

• Projects distributed across 10 states: Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Maharashtra, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand

Strategic Significance

ECMS is a cornerstone of India’s Atmanirbhar Bharat vision, ensuring the country develops a deep-rooted electronics ecosystem. By fostering domestic production of critical components and raw materials, India is positioning itself as a global electronics manufacturing hub.

The Electronic Industries Association of India (ELCINA), established in 1967, continues to play a key role in facilitating industry-government collaboration under this scheme.

Key Takeaways

• 106 projects approved under ECMS with ₹69,548 crore investment
• 38 plants operational, 16 nearing completion
• 74,628 direct jobs

Agastya Energy Announces ₹7,800 Crore Expansion into Full Integrated Solar Manufacturing by 12GW Ingot & Wafer Manufacturing

• To expand into Integrated 12 GW Ingot and 12 GW Wafer manufacturing as it builds an integrated solar photovoltaic value chain in Kurnool. 

Agastya Green Energy Limited, a part of Anubhav Agarwal Group, today announced its expansion into Integrated 12 GW Ingot and Wafer manufacturing at the Orvakal Industrial Area in Kurnool, Andhra Pradesh with a project cost of approximately ₹7,800 crore. The expansion will complement the company’s existing solar cell and module manufacturing capabilities.

The project will establish 12 GW each of integrated ingot and wafer manufacturing capacity, strengthening Agastya Energy’s domestic manufacturing capabilities and enabling greater domestic value addition within India’s solar manufacturing sector. The Pooja marks the commencement of this next phase of growth, which is expected to generate 3,500+ employment opportunities and further Agastya Energy’s vision of building an integrated and globally competitive solar photovoltaic manufacturing platform in India.

Mr. Anubhav Agarwal, Chairman, AAG (Anubhav Agarwal Group), said, “At AAG, our focus is on building businesses that contribute meaningfully to India’s growth and advance our vision to empowering India’s journey towards energy security. Our ₹7,800 crore investment in Agastya Energy reflects our long-term conviction in India’s energy transition and our commitment to building globally competitive manufacturing capabilities at scale. We believe that strengthening domestic manufacturing will be critical to meeting India’s growing energy needs, reducing import dependence and creating a resilient energy ecosystem for the decades ahead.”

We are grateful to the Government of Andhra Pradesh for its continued support and commitment to fostering a conducive environment for large-scale manufacturing and renewable energy investments. We extend our sincere appreciation to Shri N. Chandrababu Naidu, Hon. Chief Minister of Andhra Pradesh; Shri Nara Lokesh, Hon. Minister of Human Resources Development, Information Technology, Electronics & Communication, Real Time Governance of Andhra Pradesh; and Shri T. G. Bharath, Hon. Minister of Industries, Commerce and Food Processing. Their leadership, vision and encouragement have been instrumental in advancing industrial growth, strengthening investor confidence and enabling transformative projects that contribute to India’s clean energy future.

Mr. Piyush Bichhoriya, Director, Agastya Energy, said, “The expansion into Ingot and Wafer manufacturing marks a critical upstream pillar of Agastya Energy’s integrated solar manufacturing strategy, complementing our solar cell and module capabilities and strengthening our end-to-end PV value chain. It will deepen our presence across the solar ecosystem, drive greater domestic value addition, and create synergies across manufacturing, IPP and EPC. As we scale, our focus remains on efficient execution and building a future-ready platform to support India’s growing renewable energy needs. In many ways, this is our contribution to Powering the Age of India.”

Mr. Bernhard Rack, CEO, Agastya Energy, said, “The global energy transition is creating a strong need for resilient, scalable and globally competitive solar manufacturing. This expansion will strengthen Agastya Energy’s capabilities across ingots, wafers, cells and modules. It marks an important step towards establishing India as a leading hub for clean energy manufacturing.”

The integrated facility will bring together ingot, wafer, cell and module manufacturing, enabling greater domestic value addition, manufacturing efficiency and deeper integration across the upstream and downstream segments of the photovoltaic value chain. The project comes at a time when India continues to strengthen its solar manufacturing and renewable energy ecosystem, with the Ministry of New and Renewable Energy (MNRE) progressively strengthening the ALMM framework, including ALMM List III, for solar PV modules, cells and wafers. In this context, the facility aligns with the Government of India’s Make in India and Atmanirbhar Bharat priorities, while supporting the country’s broader ambitions for renewable energy, energy security and a globally competitive domestic solar manufacturing ecosystem.

About Agastya Energy Group:

Agastya Energy Group is a renewable energy company focused on building integrated capabilities across the solar photovoltaic value chain. Headquartered in New Delhi & a part of the AAG, the company is focused on developing scalable, technology-led and sustainable clean energy solutions.

It operates across the renewable energy sector, with capabilities spanning solar module and cell manufacturing, Independent Power Production (IPP), EPC, and operations and maintenance (O&M), along with a growing presence across India. The company is expanding its manufacturing capabilities across ingots, wafers, solar cells and modules, with an ambition to build an integrated and globally competitive solar manufacturing platform and deepen integration across the solar value chain. Through deeper vertical integration, Agastya Energy aims to enhance domestic value addition, strengthen supply-chain resilience and support the development of India’s renewable energy ecosystem. With a focus on technology, operational excellence and sustainable development, the company is committed to strengthening India’s domestic renewable energy capabilities and supporting the country’s transition towards a cleaner, more resilient and self-reliant energy future.

Zetwerk IPO Push: Manufacturing Orderbook Hits ₹12,370 Cr; Debt Repayment, Acquisitions Planned

• Revenue from operations grew 40.43% to ₹15,913 Crores in FY26, led by growth in renewable energy, power transmission and AI infrastructure.
• Operating performance improved sharply since Fiscal 2024, with adjusted EBITDA up 4.3x to ₹421 Crores and Adjusted PBT turning positive at ₹45.7 Crores from a loss of ₹248.8 Crores
• Manufacturing orderbook doubled to ₹ 12,370 Crores in FY26 as compared to FY2024; international markets contributed nearly 30% of Manufacturing Business revenue in FY26.

Zetwerk, a technology-led, asset-light manufacturing platform for industrial and consumer goods in India and globally, has filed its Updated Draft Red Herring Prospectus (UDRHP) with the Securities and Exchange Board of India (SEBI).

The company aggregates manufacturing capacity across a network of third-party suppliers and its own facilities into a "universal factory," unified through Zetwerk OS, its proprietary technology backbone. Its customers span utilities, renewables, consumer electronics, artificial intelligence infrastructure, aerospace, space & defence, oil & gas and industrial automation.

Zetwerk operates two reportable business segments: the Manufacturing Business, which enables customers to manufacture industrial and consumer products through its supplier network and own facilities; and the Ecosystem Business, branded Terra91, which aggregates and sources industrial commodities for customers. A third segment, Civil Infrastructure Works, was discontinued in FY26 as part of a strategic realignment to focus on the core segments.

The proposed initial public offering comprises a fresh issue of Equity Shares of face value of ₹1 each aggregating up to ₹2,600 Crores and an offer for sale of up to 96,837,455 equity shares of face value ₹1 each by the selling shareholders.

Zetwerk plans to use the net proceeds mainly to pay down debt – ₹1,250 Crores at the company and ₹550 Crores across subsidiaries – with the balance towards inorganic growth through unidentified acquisitions, and general corporate purposes.

The company's promoters are Amrit Pratik Acharya and Srinath Ramakkrushnan, both IIT Madras alumni. The company, in operation for around 8 years, connects 26 owned manufacturing facilities across India, USA, Germany and Spain and a network of 6,979 third-party suppliers in multiple countries into a unified manufacturing network.

The hybrid manufacturing model it follows allows it to benefit from the scalability of a distributed network, with capacity accessed through third-party manufacturers without a corresponding increase in invested capital together with the control of selective own capacity for complex, high-value manufacturing.

Zetwerk OS coordinates a single order across multiple facilities to speed up production cycles. It automates key decisions and replaces manual processes with technology that standardizes every stage of the manufacturing lifecycle and supports distributed manufacturing.

As of March 31, 2026, Zetwerk's Manufacturing platform had a diverse customer base ranging from start-ups to large industrial companies, including 8 of Sensex, 16 of Nifty 50, and 102 of India's Fortune 500 companies. Some of its customers include Siemens Gamesa, Acer India, NextPower, CG Power, NTPC Renewable Energy, L&T MHI Power Boiler, DRDO, NALCO, IOCL, Mortenson, Nordex Acciona, Indian Air Force and Numaligarh Refinery Limited.

Zetwerk grew revenue from operations 40.43% to ₹15,913 Crores in FY26, up from ₹11,332 Crores, led by a nearly doubling energy business on the back of broader themes of AI capex wave and energy transition. Operating performance improved sharply since Fiscal 2024: adjusted EBITDA rose from ₹97 Crores in Fiscal 2024 to ₹323 Crores in Fiscal 2025 and ₹421 Crores in FY26, a 4.3x increase over two years. Adjusted PBT grew from a loss of ₹248.8 Crores in Fiscal 2024 to a profit of ₹45.7 Crores in FY26.

The reported PBT of -₹1,558 Crores in FY26 was primarily driven by two one-time, non-cash adjustments ahead of the IPO. The first is a Management Stock Options equity top-up of ₹796 Crores, thereby increasing promoter’s stake in the company. The transaction did not involve any cash outflow and is net worth neutral. The second is a one-time provision of ₹453 Crores relating to the civil infrastructure business, which the company has discontinued as part of a portfolio consolidation.

Zetwerk's manufacturing orderbook doubled to ₹ 12370 Crores in FY26 as compared to ₹ 6170 in FY2024.

Zetwerk has benefitted from its evolving customer relationships that has gone from single order engagements to multi-year contracts across multiple categories. Revenue from Repeat Customers in its Manufacturing Business stood at 80.15% in FY2026 and the Net revenue retention stood at 120% for the same period.

Zetwerk's top 10 customers have been associated with the company for ~3 years, and contribute to nearly 36% of revenues. The company has cumulatively delivered products and raw materials worth ₹69,588 Crores in terms of GMV.

In FY 2027, Zetwerk has been recognised as India's Fastest Growing Engineering Brand 2026, according to Strongest Indian Brands 2026 rankings published by independent brand valuation consultancy Brand Finance.

Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Goldman Sachs (India) Securities Private Limited, Avendus Capital Private Limited, JM Financial Limited, HSBC Securities and Capital Markets (India) Private Limited, Pantomath Capital Advisors Private Limited, are the Book Running Lead Managers to the issue.

Link: https://ir.zetwerk.com/wp-content/uploads/Zetwerk-Manufacturing-Businesses-Limited-UDRHP-I.pdf

India Targets 25% GDP Share from Manufacturing with 12-Sector Strategy

NITI Aayog’s latest report (August 13, 2026) identifies 12 priority sectors—including automobiles, electronics, steel, defence, chemicals, solar PV, textiles, and pharmaceuticals—as the backbone of India’s push to become a global manufacturing hub by 2047. The roadmap emphasizes local value addition, job creation, and integration into global supply chains.

Key Highlights of the Report

• Released by: Ashok Kumar Lahiri, Vice Chairperson of NITI Aayog
• Title: “Key Sectors to Position India as a Global Manufacturing Hub”
• Objective: Strengthen India’s manufacturing ecosystem to support the Viksit Bharat @2047 vision
• Methodology: From an initial pool of 62 sectors, 12 were shortlisted based on attractiveness, strategic importance, viability, and value-chain potential

The 12 Priority Sectors

Sector	Strategic Focus
Automobiles	EV adoption, supply-chain resilience
Electronics	Local component manufacturing, exports
Steel	Infrastructure-linked demand, global competitiveness
Capital Goods	Machinery, industrial equipment
Defence & Drones	Self-reliance, advanced tech
Chemicals	Feedstock availability, downstream value
Solar PV	Clean-tech clusters, import substitution
Textiles	Raw material scaling, global exports
Pharma & Medical Devices	Biopharma ecosystem, innovation
Telecom Equipment	Local value chains, global integration
Leather & Footwear	MSME-driven exports
Food Processing	Agri-linkages, packaged exports

Strategic Themes

• Global Supply Chain Diversification: India aims to capture opportunities as firms reduce dependence on single-country sourcing
• Employment Generation: Textiles alone employ 45 million people, second only to agriculture
• Technology & Innovation: Telecom and electronics sectors prioritized for joint ventures, R&D, and skill development
• Clean Energy Push: Solar PV manufacturing positioned to reduce import dependence and strengthen upstream capabilities

Challenges Identified

• Import dependence on critical inputs (telecom, chemicals, solar)
• Fragmented supply chains and logistics gaps
• Limited domestic value addition in high-tech sectors
• Skill shortages constraining productivity

Outlook

• Manufacturing currently contributes 17.5% of India’s GDP; the goal is to raise this to 25% by 2047
• India’s share in global manufacturing output is 3.2%, compared to China’s 32%
• The report calls for long-term, consistent reforms to replicate success stories like South Korea and Vietnam

L&T's Vyoma.AI Secures India’s Largest NVIDIA B300 AI Factory to Power Global AI Cloud Innovation

Representative Image

• Marking its foray into AI Factory business, L&T will deploy NVIDIA B300 infrastructure at its Chennai data centre campus to power Together AI’s AI-native cloud platform for large-scale training and inference.

Vyoma.AI, an L&T company, through its AI infrastructure subsidiary LTN Compute, has secured India's largest single-cluster AI infrastructure - an NVIDIA B300 AI Factory - for a US-based AI cloud innovator.

The AI Factory will power AI Native Cloud platform for large-scale inference, fine-tuning and training workloads, strengthening India's AI infrastructure ecosystem while supporting global innovation.

Vyoma's Chennai data centre campus, a gigawatt-scale AI infrastructure site, with Phase 1 designed for 250 MW and power infrastructure readiness of 150 MVA, provides a scalable foundation for future AI Factory expansion.

The integrated AI Factory, with capacity of 10,000 B300 NVIDIA GPUs, will be hosted at Vyoma’s Chennai data centre. The platform combines hyperscale data centre infrastructure, accelerated computing, high-performance networking, ultra-low-latency interconnects, high-throughput parallel storage and AI infrastructure operations, enabling customers to seamlessly deploy and scale AI workloads through a unified, end-to-end AI infrastructure stack.

"Artificial Intelligence is becoming foundational to every industry and AI Factories will power this transformation. Our deployment of an NVIDIA B300 AI Factory for Together AI marks a significant milestone in L&T's Gigawatt AI Infrastructure Mission and reinforces our commitment to making India a global hub for next-generation AI infrastructure", said Mr S N Subrahmanyan, Chairman & Managing Director, Larsen & Toubro.

"Making AI globally accessible is going to be the biggest infrastructure build-out in human history, and L&T understands that”, said Mr Vipul Ved Prakash, Co-founder & CEO, Together AI. “That's exactly why we partnered with them - to bring the scale, resilience and engineering excellence this moment demands to India.”

LTN Compute, a subsidiary of Vyoma.AI, is building AI-ready digital infrastructure across India through hyperscale AI datacentres, sovereign cloud platforms, AI Factory services, GPU-as-a-Service (GPUaaS) and managed AI platforms to support governments, enterprises, cloud providers and AI innovators.

Ayati Devices Secures ₹15 Cr Pre‑Series A From Inflexor Ventures to Scale Global Diabetic Foot Diagnostics

Ayati Devices, a Bengaluru-based medical technology and device manufacturing company developing precision diagnostic solutions for diabetic foot complications and peripheral vascular disease, has raised INR 15 Crore in a Pre-Series A funding round led by Inflexor Ventures. This marks the company's first institutional investment and will accelerate the commercialization of its next-generation diagnostic technologies, expand its domestic and international presence, strengthen manufacturing capabilities, and deepen investments in research, regulatory approvals, artificial intelligence, and global talent. Ayati Devices has been incubated at IITB-SINE as part of the institute’s translational research program.

India's medical devices sector is accelerating on innovation and government incentives, even as diabetes becomes one of the world's biggest health challenges. Over 90 million Indians live with diabetes. Many lose foot sensation silently until complications strike, and over 50,000 lower-limb amputations occur in India each year, most preventable through timely diagnosis.

Founded by Nishant Kathpal, Ayati Devices builds clinically accurate, portable, and affordable diagnostic technologies that bring preventive care beyond tertiary hospitals into primary care centres and diabetes clinics. Ayati's portfolio covers the full diabetic foot diagnostic pathway. Vibrasense delivers clinician-independent neuropathy screening in under five minutes; Vibrasense+T adds large- and small-fibre nerve assessment. Vasosense detects Peripheral Artery Disease in two minutes without a specialist, while Angiocam turns real-time tissue perfusion imaging, once prohibitively expensive, into an accessible, portable tool. Completing the suite, the PODIA Trolley offers a pay-per-test screening station with zero upfront capital investment.

Ayati's technologies already hold regulatory clearances across major global markets, including CDSCO (India), the U.S. FDA, CE Mark (Europe), and approvals in Sri Lanka, Malaysia, and the UAE. The company has deployed over 10,000 devices across 30+ countries, backed by a growing international distributor network and clinical deployments at leading institutions such as Medicover Hospital and Aster Hospital.

The addressable market spans USD 15 billion globally and USD 1.4 billion in India alone, across diabetic neuropathy, peripheral vascular disease, and tissue perfusion imaging. Ayati's technology also extends into plastic surgery, wound care, burn management, cardiovascular diagnostics, and reconstructive medicine, widening its long-term potential.

The capital will fund Angiocam's commercialisation, expand go-to-market operations at home and abroad, strengthen manufacturing and supply chain capacity, accelerate R&D in AI-enabled diagnostics, secure further regulatory approvals, grow the IP portfolio, and build out engineering, clinical, regulatory, and global business development teams.

Looking ahead, Ayati will deepen its presence across Europe, the U.S., the Middle East, Southeast Asia, Australia, and Latin America through its distribution network, while evaluating direct commercial operations in key markets as demand scales. It will also expand its pay-per-test screening model across hospitals, primary care clinics, and community programmes, making preventive diagnostics far more accessible.

Commenting on the funding, Nishant Kathpal, Founder & CEO, Ayati Devices, said, "Diabetic foot remains one of the most overlooked healthcare challenges, despite being largely preventable with timely screening. At Ayati, we have focused on building technologies that make advanced diagnostics objective, affordable, and accessible beyond tertiary hospitals - right from primary care clinics to community screening programs. This investment marks an important milestone in our journey. It will accelerate our product roadmap, strengthen our global presence, and help us reach millions of patients before complications become irreversible. We are grateful to all our investors for believing in our vision of transforming diabetic foot care worldwide."

Explaining the investment rationale, Pratip Mazumdar, Partner, Inflexor Ventures, said,"India's medical devices sector, driven by innovation and government incentives, is rapidly expanding along with a strong structural tail-wing targeted towards localized technology and manufacturing. Ayati is a platform play in the medical devices sector and exactly the kind of company Inflexor exists to back: a founder with deep technical conviction, a product built from genuine clinical insight, and a platform that is already demonstrating adoption across both domestic and international markets. The scale of the opportunity is as large as the unmet need. Ayati's multi-product platform, proprietary hardware-software integration, and growing IP portfolio give it the moat to become the global standard of care in non-invasive vascular and neurological diagnostics."

The funding represents a significant milestone for Ayati Devices as it transitions from technology validation to accelerated commercial scale. With regulatory-ready products, global market access, and clinical adoption across multiple geographies, the company is set to make advanced diagnostics more affordable and accessible worldwide. As diabetes rises globally, Ayati aims to shift care from reactive treatment to early intervention, preventing amputations and improving outcomes for millions worldwide.

Vertiv Expands Global Manufacturing Capacity for AI-Ready Data Center Cooling Solutions

• Expansions at the company's Tognana, Italy, technology campus support growing worldwide demand for advanced thermal infrastructure and strengthen Vertiv's cooling innovation capabilities

Vertiv (NYSE: VRT), a global leader in critical digital infrastructure, announced investments at its Tognana campus near Padua, Italy, to expand manufacturing and integrated testing capabilities for data center cooling systems. The company expects the investments to double chiller production capacity in the region by the end of 2026 and plans to complete a new large-scale testing laboratory in early 2027, supporting growing demand for AI and high-density computing infrastructure.

The new laboratory will enable testing of large-scale chillers and validate their integration with liquid cooling systems under high-density load conditions and extreme temperature ranges. The expanded capability is intended to help customers validate thermal performance under expected site conditions and deploy increasingly complex cooling systems with greater speed and confidence.

Vertiv expects to double regional chiller manufacturing capacity with the expansion of its Tognana, Italy facility

"AI is driving thermal demands that didn't exist two years ago, with higher densities, faster deployment demands, and no room to compromise on reliability," said Gio Albertazzi, CEO of Vertiv. "The expansion at Tognana puts us further ahead with more manufacturing capacity, integrated testing, and advanced thermal management systems built for current and future generations of silicon. This investment reinforces our position at the front of the curve."

The campus serves as one of Vertiv's principal centers for cooling technology development, integrating research and development, product management, manufacturing, testing, and customer engagement. The site includes a Customer Experience Center where customers and consultants can participate in witness testing of a broad range of cooling technologies across the thermal chain under real-world operating conditions.

For more information on Vertiv’s leading portfolio of power and thermal management, infrastructure solutions, IT systems, and services for critical digital applications, visit Vertiv.com.

India Emerges as Global Solar Manufacturing Hub with 172 GW Capacity

India’s solar manufacturing sector has expanded dramatically, from 2.3 GW in 2014 to reaching 172 GW of module capacity by March 2026, supported by government schemes like the PLI and ALMM. This growth is positioning India as a global hub for solar technology, reducing import dependence and creating thousands of jobs.

In FY 2025–26, India’s renewable energy sector reached a landmark, recording unprecedented growth in both solar and non‑fossil fuel capacity. On 29 July 2025, renewables supplied 51.5% of the nation’s electricity demand — the highest monthly share ever achieved.

India’s Solar Manufacturing Expansion

Capacity Growth

• 2014: Manufacturing capacity stood at just 2.3 GW.
• 2026: Expanded to 172 GW, a seventy-five-fold increase.
• India now has domestic module capacity exceeding annual demand, though upstream vulnerabilities remain.

Key Government Policies

• Production Linked Incentive (PLI) Scheme: Launched in 2021 with ₹4,500 crore, expanded in 2022 with ₹19,500 crore. Attracted ₹35,000 crore investment and created ~10,000 direct jobs.
• Approved List of Models and Manufacturers (ALMM): Introduced in 2019, expanded in 2026 to include solar cells (List-II). From June 2026, all projects must source cells from ALMM List-II, ensuring quality and reliability.

India has introduced targeted measures to boost solar manufacturing and reduce reliance on imports.

Production Linked Incentive (PLI) Scheme

• Launched in 2021 with ₹4,500 crore, expanded in 2022 with ₹19,500 crore.
• Promotes domestic production of high-efficiency solar PV modules.
• By October 2024, attracted investments worth ₹35,000 crore.
• Generated direct employment for about 10,000 people.

Approved List of Models and Manufacturers (ALMM)

• Introduced in 2019 as a quality assurance framework for solar PV modules and cells.
• Ensures only approved manufacturers and models are used in government-supported and competitively bid projects.
• Promotes domestic manufacturing by mandating certified products.

Impact of PLI and ALMM

Together, these frameworks have reinforced India’s solar manufacturing ecosystem, driving self-reliance, accelerating deployment, and instilling confidence among consumers and developers.

Taking Solar to Every Household and Farm

India’s solar journey extends beyond utility-scale projects, with schemes designed to improve energy access, lower costs, and create livelihoods.

PM Surya Ghar: Muft Bijli Yojana

• Launched on 13 February 2024 with an outlay of ₹75,021 crore.
• World’s largest domestic rooftop solar programme.
• Provides subsidies and collateral-free loans for rooftop installations.
• Implemented through a national portal for seamless registration, installation, and subsidy disbursement.

Key Achievements

• Over 43 lakh households solarised as of June 2026.
• ₹14,771.82 crore disbursed as Central Financial Assistance till December 2025.
• More than 7.7 lakh households received zero electricity bills by 9 December 2025.

Comparative Table: PLI vs ALMM

Scheme	Objective	Impact
PLI Scheme	Boost domestic manufacturing of high-efficiency solar PV modules	₹35,000 crore investment, ~10,000 jobs, reduced import dependence
ALMM Framework	Ensure quality standards for modules and cells	Mandatory use of approved products, boosts confidence in domestic manufacturing

Bhadla Solar Park 

Bhadla Solar Park 

In Rajasthan’s arid Bhadla region, vast stretches of desert have been transformed into one of the world’s largest solar power complexes. Initiated under the Solar Parks Scheme in 2015 and completed in phases by 2020, the project now spans nearly 5,700 hectares (56 sq. km.) with an installed capacity of 2,245 MW. The area’s abundant solar irradiation, minimal rainfall, and sparse vegetation make it ideal for large‑scale solar generation.

Beyond its sheer scale, Bhadla exemplifies the solar park model — shared infrastructure such as land preparation and transmission facilities enabled rapid development, attracted significant private investment, and drove competitive bidding that delivered some of India’s lowest solar tariffs, making clean energy more affordable.  

Strategic Importance

• Energy Security: Reduces reliance on imported modules, especially from China.
• Economic Development: Strengthens domestic supply chains and creates jobs.
• Climate Goals: Supports India’s target of 500 GW non-fossil fuel capacity by 2030 and net-zero by 2070.
• Global Competitiveness: India is now the second-largest solar growth market globally, surpassing the U.S. in annual additions.

Challenges Ahead

• Upstream Vulnerabilities: India must scale solar cell and wafer production to reduce dependence.
• Supply Chain Resilience: Need for diversification in raw materials and technology.
• Cost Competitiveness: Maintaining affordability while ensuring high efficiency.

Global Cooperation

• International Solar Alliance (ISA): Co-founded by India and France in 2015, now a key platform for global solar collaboration.
• One Sun One World One Grid (OSOWOG): India’s vision for interconnected renewable grids, launched with the UK in 2021.

Conclusion

India’s solar manufacturing expansion is not just about numbers—it represents a strategic shift towards self-reliance, affordability, and global leadership. With strong policy support, India is building a resilient ecosystem that can serve as a blueprint for other nations.