Auto Components India

There is an unpleasant twist in the India growth st­ory. The countrys supposed demographic advantage  a growing proportion of working people in its overall population  was to power Indias fast growth up to 2030 and beyond. It now tu­rns out that the economy is going through labour pa­ngs and unable to deliver gr­owth. The boon of an ab­undance of cheap labour is gone. A shortage coupled with the rising cost of skilled and even unskilled workers are turning out to be bane of the economy in recent mo­nths. Companies across manufacturing and services sectors, including IT/ITES, are unable to get the right people for the right jobs. Sourcing workforce isincreasingly becoming a painful pro­cess.

The National Rural Employment Guarantee Act, the worlds biggest job guarantee programme that provided 100 days of employment to one member each of 4.1 crore households in just nine months to December 2010, according to the Economic Survey, has substantially reduced the flow of labour supply to industries in cities. By assuring minimum wages, the Act has also raised the cost of unskilled and semi-skilled labour and raised the wage benchmarks all round.

Flagbearers of Indias average 8.6 per cent growth story in the past five years  real estate, construction and infrastructure as well as the most dynamic of all, the services sector  today suffer from an acute labour shortage.If 1,000 labourers are required in a day, we get only around 500 to 600. Projects are getting delayed because of shortage of la­bour, says Sunil Mantri, chairman, Mantri group, le­ading property developers.

At the other end of the skill spectrum, only a fourth of 1.2 million engineers and other skilled persons passing out every year are employable, says CEO of National Skill Development Corporation Dilip Chenoy. They would have to be retrained or skills upgraded to make them employable.

LABOUR PAIN - mydigitalfc.com

In a joint press conference held by the Engineering Export Promotion council and the Ministry of Commerce on India Show with the Canadian Manufacturing Technology Show informed that, more than 150 Indian engineering companies will participate at The India Show in Toronto, Canada, from 17-20 October 2011.

In a joint press conference held by the Engineering Export Promotion council and the Ministry of Commerce on India Show with the Canadian Manufacturing Technology Show informed that, more than 150 Indian engineering companies will participate at The India Show in Toronto, Canada, from 17-20 October 2011. It will be the biggest show of Indian engineering companies in Canada and a major effort to promote Brand India in the North American continent. Shri Anup Wadhawan, Joint Secretary with the Ministry of Commerce and Mr. Aman Chadha, Chairman EEPC India along with the representative from Canadian high Commission, Ms. Sara Wishaw Minister Commercial, interacted with the press and briefed them on the forthcoming India Show. The India Show will be organized by EEPC India, Ministry of Commerce & Industry, Government of India and India Brand Equity Foundation (IBEF) with support from the Indian High Commission in Ottawa and the Canadian High Commission in New Delhi.

The big Indian companies at the show will be Tata Motors, Tata Steel, Heavy Engineering Corporation, Bajaj International and Mahindra Reva Electric Vehicles. A large number of manufacturing exporters from the medium and small-scale sector will also show their products and services, he added.

Ms. Sara Minister Commercial from the High commission of Canada said that we are looking for the partnership in engineering services, India is a huge knowledge economy and its prowess in science & technology, ITES and services are well recognized. Indian companies should come to Canada and invest in manufacturing sector. She said that Indian companies are known for low cost manufacturing. She further asked Canadian companies to work in the infrastructure sector. The India Show will be part of the Canadian Manufacturing Technology Show (CMTS), the largest manufacturing exposition in North America and Canadas ultimate manufacturing event organized once every two years by the Society of Manufacturing Engineers (SME), Canada. India is the Strategic International Partner at CMTS. India represents a dynamic business proposition, which will be projected by IBEF across The India Show in Toronto. In the run up to the Show, EEPC India and the Indo-Canadian Business Chamber organised several road shows in India.

Indian Engineering Prepares a Big Show in Canada - Bilateral Trade to Triple ... - PR Web (press release)

New Delhi: Alarmed by the frequency and growing intensity of industrial unrest leading to disruption in production schedules in the last four months, a group of investors in Maruti Suzuki India Ltd, Indias largest car manufacturer, took the unprecedented step of reaching out directly to the striking employees through a conference call.

However, if the investors were looking for any reassurance, they did not get it. Instead, the agitating employees struck an even more strident pose, reviving their earlier demand for the recognition of a new union to represent them, even while reiterating their demands that triggered the latest face-off.

Maruti chairman R.C. Bhargava said late on Friday that workers had begun vacating the factory premises. On Thursday, the Punjab and Haryana high court had issued an order asking the striking workers to do so. Bhargava refused to comment on the call with investors.

The unusual initiative by investors, organized by Mumbai-based brokerage Nirmal Bang Institutional Equities Pvt. Ltd, came in the backdrop of increasing unease among analysts.

Maruti Stalemate | In a first, edgy investors reach out to workers - Livemint

Indian equities gained momentum as intense buying activity is being witnessed in realty, oil & gas, IT and auto. Midcap and Smallcap index underperformed.

At 12 noon, the Sensex was trading up 231.16 points or 1.42% at 16,463.70 with 25 components gaining. Meanwhile, the Nifty was trading higher by 63.70 points or 1.30% at 4,951.75 with 42 components gaining.

The 30-share benchmark index, BSE Sensex opened with a gain of 37.53 points or 0.23% at 16,270.07, while the broad based NSE Nifty started with a fall of 1.20 points or 0.02%, at 4,886.85.

Reliance Industries contributed rise of 44.54 points in the Sensex. It was followed by Infosys (26.08 points), Housing Development Finance Corporation (23.88 points), I C I C I Bank (23.24 points) and Tata Motors (15.86 points).

Sensex trades firm on fresh buying; Realty, oil & gas lead - Myiris.com

PUNE: Yet another supplier from Volkswagen's German vendor base has set up a manufacturing presence close to the OEM. The standard parts business of Fischer-Brodbeck GmbH, or FIBRO, a Euro 90 million manufacturer for the sheet metal and moulding industry, is setting up its first overseas manufacturing plant at Chakan . The Euro 1.5 million plant will be operational a year from now.

Henning Klempp, director, business area standard parts, FIBRO GmbH, said that in future, they expect this plant to export into Europe, China, Singapore as well as SE Asian countries.

Henning Klempp, director, business area standard parts, FIBRO GmbH, said that in future, they expect this plant to export into Europe, China, Singapore as well as SE Asian countries. "Manufacturing in India is about 30-35% lower than manufacturing in Europe so we could in the future export from here," Klempp said, adding that the first focus is on catering to the local market. This will help them reduce costs in both transportation and duties, Sagar Jog, managing director, FIBRO India Standard Parts Pvt Ltd , said, adding that the product portfolio will also be expanded as FIBRO recreates its production lines in India.

Explaining the products, Klempp said they are suppliers to Gestamp Automocion , a Spanish automotive metal component maker which has set up a greenfield plant in Volkswagen India's vendor park. Gestamp makes the body in white for VW while the standard parts like press tools etc are made for them by FIBRO.

Volkswagen's German suppliers are still setting up production facilities ... - Economic Times