ONE BY ONE, different sectors of the Indian economy are getting on to the growth bandwagon. It’s not just mega sectors like infrastructure and manufacturing that have begun to grow and expand. Even allied sectors, whose fortunes are largely dependent on the bigger sectors, are beginning to flourish. A case in point is the glass industry which caters to the infrastructure and manufacturing sectors with applications across construction, automotive, packaging and electronics sectors. The industry is seeing revival on the back of a pick-up in demand, particularly on account of the boom in the realty sector.
The turnaround has led experts to project sales of float glass—a sheet or plate glass widely used to manufacture windows, mirrors, doors and solar panels—to touch Rs 40,000 crore by FY28. In 2022, it stood at Rs 24,000 crore.
At Asahi India Glass (AIS), the float glass business contributed a staggering Rs 1,676 crore, almost half of its overall revenue of Rs 4,035 crore in FY23.
According to CRISIL Ratings, the flat glass industry in India is gearing up for a substantial 65 per cent increase in capacity, investing Rs 7,200-7,500 crore over the next 48 months. This expansion, driven by import substitution policies, sustained demand from end-user industries and highcapacity utilisation, will be the first by the industry in five years.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.