Page 4 - India's Manufacturing Sector

Amrit Kaal 2047: Manufacturing a prosperous Bharat

40 per cent of the net value added in manufacturing today is from just 3 states - Maharashtra, Gujarat, and Tamil Nadu

Made-In-India Honda Elevate ready to run on Japanese road next year

Japanese auto major Honda is all set to introduce its India-made mid-sized SUV Elevate in the Japanese market next year. It would be the first instance that a product manufactured by Honda Cars India Ltd (HCIL), a wholly-owned unit of the Japanese firm, will be exported to the highly regulated Japanese market. HCIL is rolling out Elevate from its Tapukara (Rajasthan-based) production facility. "After its successful debut in India earlier this year, Elevate is scheduled for Spring 2024 launch in the Japanese market under the brand name WR-V," an HCIL spokesperson said in a statement. In a first for HCIL, the model will be manufactured in India and exported to Japan, it added. "This strategic move is a strong reflection of manufacturing capabilities of India operations and also solidifies our vision of making the country a key export hub in Honda business," the spokesperson said. The company's Tapukara-based plant is fully equipped to take care of the domestic as well as export ...

India's October manufacturing PMI slips to 55.5, lowest in eight months

The hiring activity and business confidence slipped to a five-month low in October, said S&P Global

Number of women in blue-collar jobs increasing across manufacturing sector

As companies move to be more gender inclusive

Make India a global hub for manufacturing: Piyush Goyal to industrialists

Commerce and Industry Minister Piyush Goyal on Thursday asked the domestic industry to accelerate production activity and contribute to making India a global manufacturing hub. Addressing industry leaders during a 'Chintan Shivir - unleashing the power of India's manufacturing industry', Goyal said the government has taken a number of steps to support the manufacturing ecosystem. "He asked the industry to accelerate production activity and contribute to making India a global hub for manufacturing," the commerce and industry ministry said in a statement. Representatives from CII, Ficci, Assocham, and the automobile sector, along with knowledge partners BCG and McKinsey, participated in the deliberations. "The focus was to understand and deliberate on increasing manufacturing capacities across various sectors and enhance contribution to GDP by 2030," it said. The discussions took place on 12 sectors, including textiles, capital goods, defence, aerospace, space, metals, leather, min

AMSL to defence equipment manufacturing facility in Telangaga at Rs 150 cr

Apollo Micro Systems Ltd (AMSL) is planning to set up a defence equipment manufacturing facility in Telangana at an investment of Rs 150 crore. The proposed facility will come up on an area of 3 lakh sq ft at its facility in Hyderabad, AMSL said in a statement on Monday. "Apollo Micro Systems Ltd proposes to set up a state-of-the-art defence equipment manufacturing facility in Hardware Park, Hyderabad. The company has estimated total investment in the upcoming ventures to be around Rs 150 crore," it said. The company said it is planning to complete the project in nine months. The company recently incorporated a wholly owned subsidiary -- Apollo Defence Industries Private Ltd -- to take forward its plans of manufacturing defence equipment. This subsidiary will focus on forming alliances and technological partnerships with international companies to provide cutting-edge defence solutions and serve the nation, the statement said. Baddam Karunakar Reddy, Founder and Managing Director

Generative AI in Manufacturing : A transformational alliance

The manufacturing industry in Bharat can attempt to deploy basic AI / ML techniques far more creatively than it does today

India needs to focus on manufacturing to achieve 7-7.5% growth: CEA

India needs to focus on the manufacturing sector to achieve sustained growth of 7-7.5 per cent until 2030, Chief Economic Advisor V Anantha Nageswaran said. In an S&P Global report titled 'Look Forward: India's Moment', Nageswaran said that manufacturing should be a key growth area given the country's comparative advantage in terms of skilled labour, improved physical infrastructure, well-established industrial ecosystem and large domestic market. As regards the services sector, he said the composition should change in favour of high value added services as this would improve earnings by attracting foreign demand. "The Indian economy, in real terms, needs to grow annually at 7-7.5 per cent until 2030... The share of manufacturing in total gross value added has to increase from 16 per cent at present to at least 25 per cent of GDP at the expense of agriculture and low value added services," Nageswaran said. He further said the investment rate (gross fixed capital formation/GDP) ...

Tyre demand in India to grow by 6-8% in FY24, says Icra report

Stable input prices to help industry's margins, says the agency

New manufacturing projects decline in June 2023, shows CMIE data

Decline comes after the pandemic surge took announcements to record high

Manufacturing, rise in air travel to take India oil demand to 5.4 mb/d

A better-than-expected rebound in Chinese economic activity may further empower oil demand in Asia which should be complemented by the rise in domestic demand for air travel

Manufacturing PMI at a 4-month low of 55.3 in Feb as input costs rise

The survey noted that the February data pointed to a consecutive twenty-month rise in manufacturing production

Feb manufacturing PMI falls to four-month low amid rising borrowing costs

The manufacturing sector shrank 1.1% in the quarter year-on-year, the second straight contraction reflecting a weakness in exports

Hiring activity in e-recruitment space dips by 2% in January: Report

Hiring activity in the e-recruitment white-collar space in January witnessed 2 per cent year-on-year decline mainly due to slowdown in sectors including IT, telecom, manufacturing and healthcare, a report said on Wednesday. E-recruitment refers to the process of employing talents using various online sources. Demand for jobs in production and manufacturing declined by 8 per cent as did in healthcare (7 per cent), IT hardware and software (7 per cent), telecom (5 per cent) and banking, financial services and insurance (3 per cent), according to Foundit (formerly Monster) Insights Tracker (fit) for January 2023 . While IT faces a lull due to global macro conditions and course correction from last year's hiring surge, production hiring was impacted due to cost pressures and a rise in input prices. BFSI (banking, financial, services and insurance) sector, which had continuously witnessed positive hiring numbers, has noted a marginal dip of 1 per cent annually, the report stated. The .

Budget 2023-24: Manufacturing sector eyes revised taxations, new PLIs

Manufacturing sector contributes 15% to India's GDP and hence the expectation of experts are high from the government

Dec manufacturing PMI at 26-month high of 57.8 as production picks up

Growth in new orders and output enable factories to end 2022 on a strong note: Survey

India's December manufacturing PMI expands to 57.8; highest in over 2 yrs

Monday's data cemented the view Asia's third-largest economy is better placed than many other emerging economies to weather the impact of a potential global recession

Govt working to extend Rs 3,500-crore PLI benefits to BIS-compliant toys

The government is working to extend Rs 3,500 crore worth of production linked incentive benefits to toys, which are compliant with the norms of Bureau of Indian Standards (BIS), with an aim to make domestic manufacturing globally competitive, attracting investments and enhancing exports, an official said. The official said that the measures announced by the government for the toys industry like introduction of quality control orders and increasing customs duties from 20 per cent to 60 per cent has helped in cutting down sub-standard imports and promoting domestic manufacturing in the country. "Now we are working to extend PLI (production linked incentive) benefits for toys, but it will be given to BIS-compliant toys only. PLI benefits can be given according to different investment slabs which can range from Rs 25 crore to Rs 50 crore or Rs 100-200 crore," the official added. The proposal is to give the incentives on the full product and not on components as the industry still needs

Rural distress harming MSMEs, pulling down manufacturing: Economists

Government's PLI schemes can help manufacturing and reduce import dependence in some sectors, say some experts

India to be a semiconductor manufacturing hub: Rajeev Chandrasekhar

Chandrasekhar said India is well positioned to emerge as a major player in electronics and semiconductor products manufacturing as part of the 'China Plus One' diversification strategy