The foundry industry in Coimbatore saw 20 % growth in the last one year with robust orders, said Jayakumar Ramdass, chairman – Inter Foundry and Inter Diecast event and Managing Director of Mahendra Pumps, Foundry Division.

The foundry industry in Coimbatore is doing well, as orders have picked up across sectors, from auto and farm equipment to general engineering. Of the 15 million tonnes of annual casting production in the country, 1.5 million tonnes is manufactured in Coimbatore and it is worth almost ₹ 25,000 crore. Castings worth ₹10,000 crore is exported from here every year. “We need to increase Coimbatore’s share in the global market,” he told The Hindu on Tuesday.

Almost 65 % of castings sold out of Coimbatore are machined and hence value addition is also on the rise. Most of the foundries are operating at more than 90 % capacity and at present, demand is higher than supply. However, one of the main challenges for the industry is availability of skilled manpower. Hence, foundries are investing in automation, new technologies, and digital tools to increase productivity and meet the global standards, Mr. Ramdass said.

The third edition of the exhibition for ferrous and non-ferrous foundry industry – Inter Foundry and Inter DieCast – with 315 exhibitors this year will showcase latest technologies, use of AI, and new equipment.

Organised by the Foundries Development Foundation (FDF) and VA Exhibitions at the CODISSIA Trade Fair Complex from September 10 to 12, the event will have 23 exhibitors from China, five from Germany, and four from Italy apart from participants from across the country. It is expected to attract more than 10,000 visitors.

The three-day expo will have a new concurrent event called “Cast Zone” where 25 FDF members will display castings they make. This segment is open only for registered buyers and it has, so far, 60 overseas buyers confirming their visit, Mr. Ramdass added.

Conferences will be organised on strengthening the Indian foundry sector as a global supply base for ferrous and non-ferrous castings and transition in foundry businesses: succession, scaling up and compliance. There will be a panel discussion on magnesium die casting, said a press release from the organisers.

Contract research, development and manufacturing organisation Cohance Lifesciences, formerly Suven Pharmaceuticals, is strengthening its antibody-drug conjugate (ADC) strategy with fresh investments in two biotechnology companies. It is investing an additional $13 million in NJ Bio and making a controlling investment of $5 million in Aruka Bio, expanding its capabilities and presence in the growing ADC segment.

The investments will aid in deeper integration of NJ Bio’s customer-facing services and focused development of Aruka’s proprietary pipeline through potential partnerships. Both the transactions will be funded through internal accruals, Cohance said on Thursday (September 3, 2026).

The company will increase its common-equity ownership in NJ Bio from 56% to 67.3%, acquiring the entire holdings of Priyashri Nayak and the Jain Family Irrevocable Trust. Dr. Naresh Jain will retain the remaining 32.7% and continue to lead NJ Bio while also advancing Aruka’s pipeline and partnership initiatives.

NJ Bio will remain focused on customer-facing contract research, development and manufacturing services. Aruka is a biotechnology firm based in Princeton, New Jersey and focused on developing next-generation antibody-drug conjugates. Its lead programme is currently at the preclinical stage.

Cohance’s $5 million equity investment will fund the buyout of other existing shareholders and convertible noteholders along with working capital. On completion, Aruka will be owned 65% directly by Cohance, 25% by NJ Bio and 10% by Dr. Jain.

The investment consolidates control of Aruka’s proprietary ADC platform, positioning it to pursue co-development, licensing and other collaborations with pharmaceutical and biotechnology partners as its pipeline progresses.

The decisions follows a review of NJ Bio’s performance and integration since the original investment in December 2024 when Cohance had acquired a 56% equity stake in a $64.4 million transaction.  

Danish biosolutions company Novonesis has announced an investment of ₹6,660 crore (€600 million) to expand its facility at Patalganga in Maharashtra and establish an advanced enzyme production facility.

The expansion is aimed at increasing the company’s production capacity to meet growing global demand for biosolutions. The new facility, which is expected to be fully operational by 2030, will manufacture enzymes for a range of industries, including biofuels, household care, and food and beverages.

“The expansion strengthens our ability to support customers around the world and enables us to continue creating long-term value for our shareholders,” said Ester Baiget, President and CEO of Novonesis.

According to the company, the Patalganga facility will form part of Novonesis’ global production network and bring the company closer to customers in key emerging markets, including the Middle East, Africa, India and wider South Asia.

“As demand for biosolutions continues to grow across industries and regions, expanding our global production capacity is a priority. The Patalganga expansion will strengthen our scale, operational resilience, efficiency, and supply flexibility,” said Anders Lund, Chief Operating Officer.

He added that the investment would also enable the company to serve customers in key growth markets more effectively and support its long-term growth targets.

Krishna Mohan Puvvada, Regional President for Middle East, India & Africa, said the investment would support Novonesis’ long-term growth ambitions while strengthening India’s position in the global bioeconomy.

“With the launch of the BioE3 policy by the Government of India, the country has taken transformative steps to unlock the true economic, social, and environmental potential of biosolutions for a net-zero carbon future,” Puvvada said.

Name: Ranjit K. Jain

Profession: Distributors and channel partners

Number of family members: 4

Annual Income: ₹30 lakh

For a family in the ₹30-lakh income bracket, the Union Budget is a study in contrasts. While it delivers a major victory for our global aspirations, it remains stubbornly silent on the domestic tax relief we had anticipated to combat the rising cost of urban living.

As a family at the ₹30-lakh threshold, we are now firmly in the highest tax slab of 30% under the new tax regime. Our primary hope was for a ‘bracket stretch’ — moving the trigger to ₹35 lakh. Such a move would have instantly boosted the take-home pay of senior professionals, providing the liquidity needed for long-term investments like home down payments or retirement corpuses, which have been eroded by persistent inflation.

The announcement focussed rather on macro stability than on individual stimulus. With tax slabs and the standard deduction of ₹75,000 remaining unchanged, our domestic tax outgo remains a significant portion of our gross earnings.

The drastic reduction of Tax Collected at Source (TCS) on overseas tour packages and remittances to a flat 2% (down from 20%) is a game changer. For a family planning an overseas vacation or funding a child’s education abroad, this significantly reduces the upfront cash-flow burden.

This Budget feels like a strategic ‘pat on the back’ for the global traveller but the ‘cold shoulder’ to the local earner. It supports our dreams of international mobility while asking us to continue the heavy lifting of domestic tax revenue without any fresh relief.