Page 5 - India's Manufacturing Sector

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

Foxconn likely to set up EV manufacturing unit in India through Foxtron

Buzz is that the company may look at the Ford India unit near Chennai for its new facility; sources say group was already betting big in EV components through Bharat FIH

Will the govt's plan to prune import dependency in a new avatar work?

The aim is to boost domestic output, without raising tariffs or providing subsidy, of items on whose imports India is heavily dependent. The plan is to start with consumer and capital goods

Goyal reviews progress of National Industrial Corridor Development Program

The program is a pan-India initiative involving development of 'plug and play' infrastructure which is aimed at boosting manufacturing ecosystem in the country, Goyal said

Will a services exports-driven economic growth strategy work for India?

While Covid hit services exports harder than manufacturing, the share of the former in global services exports seems to support the call experts have made in favour of the sector

Ambuja Cements' shares fall nearly 6% on weak results in Dec quarter

On BSE, the scrip closed 5.87 per cent lower at Rs 338.3; Intra-day, it was trading at Rs 337.2

Manufacturing sector will need continued policy support: RBI article

The manufacturing sector will need continued policy support for smoother and faster recovery to attain the long-term trend path, according to a Reserve Bank article.

Bigger firms pass on surging input costs to consumers, smaller ones stuck

Smaller manufacturers are resorting to cuts in the wage bill to keep afloat, as the demand situation in the economy remains low

Factory orders, production rise at slowest rates in 8 months in April: PMI

India's manufacturing sector activity was largely flat in April, as rates of growth for new orders and output eased to eight-month lows amid the intensification of the COVID-19 crisis

Oxygen diversion to have limited impact on manufacturing sector: Analysts

Revenues of small and mid-sized companies into metal fabrication, automotive components, shipbreaking, paper, and engineering may get impacted temporarily, says CRISIL.

India plans higher levy on some imported goods to boost local manufacturing

Refrigerator, washing machines, cloth dryers, aluminum and electrical goods are among products likely to see an increase in customs duty, the people said asking not to be identified citing rules

PLI scheme: Lava seeks to reboot with first locally made smartphone

Wishes to cash in on geopolitical situation, hopes anti-China sentiment will work in its favour