Page 2 - India's Manufacturing Sector

High US tariffs on China can boost India's manufacturing, says CEA

Global disruptions have created opportunities for emerging nations like India, and US tariffs on China could drive manufacturing shift to India due to lower duties, Chief Economic Advisor (CEA) V Anantha Nageswaran said on Saturday. While there are worries about the first, second, and third round effects of the tariffs in terms of external demand to start with and the overall uncertainty and therefore implications for capital formation etc, there are some favourable outcomes also, he said at an event organised by Ashoka University here. One of the positive impacts of the uncertain global environment is a reduction in crude oil prices which are now available around USD 60 per barrel. It is a windfall from India as it lowers input cost and also provides fiscal space, he said. "China plus one, which was a different dimension earlier, now acquires a much higher sense of urgency for many other companies located inside China. So in some sense, you can call it a second wind (in favour of .

Manufacturers in India not overly concerned with US tariffs: IT Secy

The electronics and IT sector manufacturers are not "overly" concerned about the recent hikes in import duty by India's largest trading partner the US, a top government official said on Monday. However, the impact will depend on how the tariff situation plays out ahead, Electronics and IT Secretary S Krishnan said. "We've been in regular consultation with manufacturers in India. That is something that we are speaking to them on an ongoing basis. They are not overly concerned right now, but it also depends on how this whole situation plays out. It's a dynamic situation," Krishnan told reporters at a Cert-In event. The US on April 3 imposed an additional 26 per cent tariff on Indian goods, effective April 9. The sector players are of the view that the Indian industries are better placed as compared to their competitors in the electronics segment. While the US has imposed an additional 26 per cent import duty on India, its competitor Vietnam is facing a 46 per cent tariff, China 34 p

Fans, motors company ebm-papst to invest Rs 340 crore in Chennai factory

Fully operational plant will employ around 700 people and boost local production, says German firm

Manufacturing sector must take advantage of opportunities available: PM

Prime Minister Narendra Modi on Tuesday asked the industry not to be a "mere spectator" and take advantage of the opportunities available in the global supply chain. Stating that the world is looking to strengthen its economic partnership with India, Modi said India's manufacturing sector should take advantage of the growing needs of the world by producing high quality products. "Today India provides stable policies and a better business environment. I urge you to take big steps to advance the country's manufacturing and exports," he said at a Post-Budget webinar on Regulatory, Investment and Ease of Doing Business Reforms. Modi said industry should look for manufacturing innovative products using R&D which has demand overseas, and this will push exports. "Today the world needs a trusted partner... Industry should not be a mere spectator, should seek opportunity in the global supply chain: Modi said, adding today India has become a growth engine for the global economy... The ...

Indian manufacturing PMI at 56.3 in Feb, slowest expansion since Dec 2023

Feb manufacturing PMI: The decline was driven by weaker growth in output and sales, along with a slowdown in input purchasing to a 14-month low

India's CRDMO sector looks to expand, looks to touch $25 bn by 2035: Report

This surge is also being driven by India's cost advantages compared to Western countries, 90 per cent faster project startup times, and global supply chain realignments

Budget 2025: ME-Card announced for credit access to MSMEs; key features

To facilitate credit accessibility, Union Finance Minister Nirmala Sitharaman introduced a customised credit card scheme for micro enterprises registered on the Udyam portal

India has made manufacturing more complicated, says CEA Nageswaran

The CEA also addressed the challenges faced by micro, small, and medium enterprises (MSMEs), particularly in light of changes introduced through Section 43B of the Finance Act

DPIIT signs agreement with ITC to help startups in manufacturing sector

The Department for Promotion of Industry and Internal Trade (DPIIT) on Wednesday said it has entered into a strategic partnership with ITC Ltd to help startups in the manufacturing sector. "Under this partnership, ITC is looking to deploy startup solutions in key areas such as digital platforms for Manufacturing Execution Systems (MES), integrating renewable energy opportunities for manufacturing locations, and energy storage systems," the department said. It added that a Memorandum of Understanding (MoU) has been signed which will set the tone for a partnership where ITC's experience and expertise with extensive market network will complement DPIIT's initiative for supporting startups across the country. DPIIT Joint Secretary Sanjiv said, "We look forward to fostering scalable solutions and transformative growth to ensure a conducive environment for startups." Startup India Director Sumeet Kumar Jarangal said this would help provide hassle-free market access to startups in terms o

How China's export curbs are hurting Indian manufacturing growth

China's export restrictions on critical equipment have disrupted India's manufacturing sector, affecting industries like electronics, solar panels, and EVs, and delaying growth plans

Indian manufacturing ends strong 2024 with a soft note, Dec PMI at 56.4

According to the HSBC Final India Manufacturing PMI, compiled by S&P Global, this was the joint weakest growth rate of 2024

Zetwerk records Rs 17,564 cr GMV in 2023-24, valuation at $3.1 billion

Zetwerk raises $90 million in 2024, led by Khosla Ventures, Rakesh Gangwal, and Baillie Gifford, increasing its valuation to $3.1 billion

November PMI at 56.5 as India's manufacturing growth shows signs of strain

HSBC final India Manufacturing PMI for November matches September's eight-month low of 56.5

Industrial corridors helping India become global manufacturing giant: DPIIT

The four industrial corridors - Amritsar-Kolkata, Chennai-Bengaluru, East Coast Economic Corridor, and Bengaluru-Mumbai - have helped India become a global manufacturing powerhouse in the world, an official statement said on Tuesday. The Department for Promotion of Industry and Internal Trade (DPIIT) is celebrating the eighth anniversary of these new industrial corridors - Amritsar-Kolkata Industrial Corridor (AKIC), Chennai-Bengaluru Industrial Corridor (CBIC), East Coast Economic Corridor (ECEC), and Bengaluru-Mumbai Industrial Corridor (BMIC). "The establishment of these corridors has been a critical step toward transforming India's industrial landscape," the DPIIT said. Spread across key regions in India, each corridor was strategically designed to integrate industry and infrastructure, establishing world-class connectivity that supports rapid industrialisation. "With high-speed rail networks, modern ports, dedicated logistics hubs, and advanced airports, these corridors are .

Tata to create 500,000 manufacturing jobs in 5 years: N Chandrasekaran

India's manufacturing sector saw a 7.4 per cent rise in employment, with 1.3 million new jobs created in FY23

India's manufacturing under-performance Part 2: New clue from multi-plants

In multi-plant units, flexibility in hiring & firing labour comes from fact of having many plants. In single plants, there is no such flexibility, which renders use of contract labour more important

Stable policies, ease of doing biz to boost manufacturing: Experts

Stable policies and further improvement in the ease of doing business in states will help significantly boost the country's manufacturing sector's growth, according to experts. They also said that sectors like renewable energy, particularly in the solar segment and electronics, hold huge potential to promote domestic manufacturing and create thousands of jobs. The government has already taken a series of steps like rolling out the production-linked incentive scheme (PLI) for 14 sectors, tweaking tariffs and issuance of mandatory quality control orders for different products to support domestic players and increase manufacturing activities, they added. "Stable policies and further promotion of ease of doing business at the state level will help significantly boost the country's manufacturing sector growth," Sujoy Ghosh, vice president and country managing director, First Solar, said. The Make in India initiative provides a window of opportunity for companies looking at alternative .

Make in India needs a reset. It won't work unless we focus on exports

The trouble is that Indian manufacturers appear less and less interested in becoming export powerhouses

India's manufacturing PMI cools to 8-month low in Sept as output slows

'Mild setback' in manufacturing growth across India, according to HSBC survey

Govt's big job plan: Labour ministry to announce new employment schemes

The labour ministry is expediting discussions with various stakeholders about employment-linked incentive (ELI) schemes