Page 4 - India's Manufacturing Sector

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

Manufacturing picked up in Sept qtr, may sustain for 6-9 mths: FICCI study

61% respondents in survey reported higher production level in September quarter over the year-ago period, as against 55% who reported higher output in June quarter of FY23

DCX Systems IPO receives 8.8 times subscription on second day of offer

The company has priced its IPO between Rs 197 to 207 per share

India has potential to lead fourth industrial revolution: PM Narendra Modi

Prime Minister Narendra Modi on Friday said India has the potential to lead the fourth industrial revolution and the government has worked on reforms to make the country a manufacturing hub of the world. He said that the fourth industrial revolution is as much about new technology, as it is about innovative thinking. "Due to various factors, India may have missed being a part of earlier industrial revolutions. But India has the potential to lead Industry 4.0, because, for the first time in recent history, we have many different factors like demography, demand and decisive governance coming together," he said through a message. The Prime Minister's message was read by a Joint secretary of the Ministry of Heavy Industries here at the conference on Industry 4.0. Modi added that the industry and entrepreneurs play a key role in making India a vital link in global value chains. "We have worked on reforms and incentives to make India a tech-powered manufacturing hub of the world," he ..

India's manufacturing PMI cools to three-month low in September

To rein in inflation, the RBI had hiked its key interest rate by a cumulative 190 basis points since early May

Manufacturing sector gets $21 bn FDI in FY22, increases by 76% YoY

The manufacturing sector attracted foreign direct investments worth USD 21.34 billion in 2021-22, an increase of 76 per cent year-on-year, the commerce ministry said on Thursday

India's manufacturing sector activity eases to 9-month low in June

Factory orders, production rise for 12th month in a row