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Odisha clears JSW's Rs 40,000 Crore proposal to set up EV manufacturing units

OutlookIndia

OutlookIndia · 1y ago

Odisha clears JSW's Rs 40,000 Crore proposal to set up EV manufacturing units

The Odisha government has approved a proposal by the JSW Group to establish electric vehicle (EV) manufacturing units in Cuttack and Jagatsinghpur districts with an investment of Rs 40,000 crore. The project aims to create over 11,000 jobs. JSW plans to set up an EV and EV battery manufacturing project in Cuttack, along with an original equipment manufacturing (OEM) plant for EVs and components. In addition, a complex for EV components manufacturing, including a copper smelter and a lithium smelter, will be set up in Jagatsinghpur. The state government also approved various other policies and projects.

Related News

JSW Group not withdrawing ₹40,000 crore EV manufacturing project from Odisha | Mint

Livemint

Livemint · 11m ago

JSW Group not withdrawing ₹40,000 crore EV manufacturing project from Odisha | Mint

JSW group has denied reports of withdrawing its ₹40,000 crore electric vehicle (EV) manufacturing project from Odisha to Maharashtra. The conglomerate had signed a memorandum of understanding (MoU) with the Odisha government in February to establish an EV and battery manufacturing project in Cuttack and Paradip. However, recent reports suggested the company was considering shifting the project to Maharashtra. JSW group has clarified that it is not withdrawing from Odisha. The project includes a 50 GWH EV battery plant, EV manufacturing, lithium refinery, copper smelter, and related component manufacturing units.

ET World Leaders Forum | Govt to launch new scheme for domestic electronics component manufacturing says Vaishnaw

Economic Times

Economic Times · 12m ago

ET World Leaders Forum | Govt to launch new scheme for domestic electronics component manufacturing says Vaishnaw

The Indian government is set to launch a scheme to develop a sustainable electronics component ecosystem in the country. The scheme aims to attract investment and boost domestic production of electronic components. The government plans to allocate up to Rs 40,000 crore for the scheme, with expectations of attracting around Rs 82,000 crore in investments. The goal is to encourage the manufacturing of electronic components, similar to the progress made in mobile and electronics manufacturing in India. The government also aims to focus on infrastructure development, including physical, digital, and social infrastructure.

Odisha CM lays foundation stone for JSW Group's Rs 65,000 crore steel facility

Money Control

Money Control · 1y ago

Odisha CM lays foundation stone for JSW Group's Rs 65,000 crore steel facility

Odisha Chief Minister Naveen Patnaik has laid the foundation stone for JSW Group's steel project in Odisha, with an estimated investment of Rs 65,000 crore ($8.8 billion). The project, set to be located at Dhinkia Nuagaon and Gadakujanga, will have an annual steel manufacturing capacity of 13.2 million tonnes, along with a cement manufacturing unit and a modern township. JSW Steel expects the project to generate approximately 30,000 direct and indirect jobs and drive economic growth in the region.

More than 43,000 people working in iPhone manufacturing in Tamil Nadu: MoS IT Jitin Prasada

Economic Times

Economic Times · 1y ago

More than 43,000 people working in iPhone manufacturing in Tamil Nadu: MoS IT Jitin Prasada

According to the minister of state for electronics and information technology, Jitin Prasada, more than 43,000 people are involved in manufacturing Apple's iPhones in Tamil Nadu. The government has set up 24 electronics manufacturing clusters and four common facility centres across 19 states, receiving 33 applications from applicants seeking to establish manufacturing units. The total production carried out by companies in Tamil Nadu is Rs 1,38,452 crore, with exports amounting to Rs 57,720 crore for products approved under the IT ministry's modified special incentive package scheme.

JSW Group looks to participate in lithium mines auction: Sajjan Jindal

Money Control

Money Control · 1y ago

JSW Group looks to participate in lithium mines auction: Sajjan Jindal

The JSW Group is planning to participate in the auction of lithium mines as part of its efforts to create a robust electric vehicle (EV) ecosystem with a strong supply chain. The conglomerate aims to lower EV production costs by enhancing local sourcing and leveraging its subsidiaries. JSW Group recently received permission from the Odisha government to set up an EV components manufacturing complex, and now plans to source components from this plant to reduce production costs. The group recognizes the importance of lithium, a sought-after mineral used in EV batteries, and intends to secure its supply through participation in mine auctions.

Tata To Double Headcount To 40K In Its Hosur iPhone Plant

Inc42 · 11m ago

Tata To Double Headcount To 40K In Its Hosur iPhone Plant

Tata Electronics is set to double its workforce to 40,000 by hiring an additional 20,000 employees at its Hosur iPhone assembly plant. This move aligns with Apple's manufacturing strategy in India, where 1 in 7 iPhones are currently produced. Tata Group has already invested in three major manufacturing units in Tamil Nadu and currently employs over 150,000 people directly in the state.

Inside govt's plans for Rs 40,000 crore electronics component manufacturing scheme

Economic Times

Economic Times · 1y ago

Inside govt's plans for Rs 40,000 crore electronics component manufacturing scheme

The government plans to allocate around Rs 40,000 crore for a new electronics component manufacturing scheme. Successful applicants are expected to invest around Rs 82,000 crore, with the total value of components produced estimated to reach Rs 1.95-2 lakh crore. The scheme is likely to be launched later this year to boost electronic manufacturing in the country.

RamKrishna Forgings looks to start forged wheel production from Chennai plant in FY27

Economic Times

Economic Times · 1m ago

RamKrishna Forgings looks to start forged wheel production from Chennai plant in FY27

RamKrishna Forgings plans to enter forged wheel manufacturing with a new plant in Chennai, targeting production of 228,000 wheels annually by 2027. The plant's construction, costing Rs 2,000 crore, will be funded through debt and equity. Incremental production is set for 40,000 wheels in FY27, scaling to 100,000 by FY28, generating significant revenue. The company, collaborating with Indian Railways, also expands into undercarriage systems, projecting Rs 250-300 crore revenue in two years.

Tata Electronics to Hire 35K Employees, Expand Hosur iPhone Hub

Inc42 · 11m ago

Tata Electronics to Hire 35K Employees, Expand Hosur iPhone Hub

Tata Electronics is set to hire an additional 20,000 employees at its Hosur iPhone assembly plant, effectively doubling the workforce to 40,000. The move is part of Apple's plan to boost its manufacturing presence in India, with the company now producing one in seven iPhones within the country. Tata Group has actively invested in three major manufacturing units in Tamil Nadu over the last three years, providing direct employment for over 150,000 people in the state.

Semiconductor units will strengthen India's transformative journey for tech self-reliance: PM Modi

Economic Times

Economic Times · 1y ago

Semiconductor units will strengthen India's transformative journey for tech self-reliance: PM Modi

Prime Minister Narendra Modi has announced that the upcoming semiconductor units in India will contribute to the country's journey towards technological self-reliance. The government has approved proposals to establish three semiconductor plants, including a mega fab by Tata Group, with a combined investment of Rs 1.26 lakh crore. The move aims to position India as a global leader in chip manufacturing. Incentives of up to Rs 76,000 crore are being offered to boost domestic semiconductor manufacturing, which is crucial for electronic devices in various sectors. Construction of the approved units is expected to commence within the next 100 days.

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