Business Briefs Three Tech Development Projects Inaugurated at IISc Bangalore

New Delhi, Dec 27 (PTI) The Department of Heavy Industry on Friday said three technology development projects have been inaugurated at IISc Bangalore.

Besides, a Central Manufacturing Technology Institute and two technology development projects have also been inaugurated.

In a statement, it said an Industry 4.0 SAMARTH UDYOG Centre is also coming up at IISc Bangalore to support Indian manufacturing to adopt and assimilate Industry 4.0 technology such as data analytics, 3D printing, artificial intelligence, virtual reality, and robotics.

A sensor technology manufacturing/fabrication facility is also coming up at CMTI, Bengaluru with the help of the department.

"Sensor Technology will help in making products and machines smart through deployment of function specific sensor specially designed for data extraction," it added. *************

Sonam Clock looks to double revenues to Rs 150 cr by 2022 *

Clock manufacturing firm Sonam Clock on Friday said it aims to double its revenues to Rs 150 crore by 2022, mainly backed by its production enhancement plans.

The NSE-listed SME has increased its manufacturing capacity in Morbi in Gurajat to produce 15,000 clocks, 5,000 alarm timepieces and 50,000 clock movements from the earlier capacity of 12,000 clocks, 3,000 alarm timepieces and 30,000 clock movements.

"Our plans of expanding our existing our manufacturing capacities as well as adding new production units will help us grow our revenues by 25-30 per cent on a yearly basis. We aim to double the numbers to Rs 150 crore by 2022," the company's CEO and MD Jayesh Shah said.   

The company had reported revenue of Rs 65.37 crore last fiscal year.

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