Manufacturing Jobs

Manufacturing firms see decline in operating profit for second qtr in a row

The operating profit for manufacturing firms is down 18.4% year-on-year, according to CMIE

India may account for 8-10% of global work share to CDMOs by 2033: Report

India could potentially account for 8-10 per cent of work share outsourced to CDMOs globally by 2033, an outcome of a significant amount of work shifting from EU and the US to Asia, a report by McKinsey & Company has said. The global CRDMO (Contract Research Development & Manufacturing Organisation) industry is about to witness a re-distribution of outsourcing work across several Asian countries, with India and Korea emerging as new powerhouses by 2033, the report said. According to a McKinsey analysis, by 2033, India could potentially account for 8-10 per cent share of work outsourced to CDMOs globally. "This growth is largely driven by the evolving geopolitical environment with most Indian CRDMOs expecting 20-40 per cent of their new business to stem from these changes," the survey stated. As per market estimates, the global CDMO industry is estimated at USD 224 billion which is expected to rise to USD 465 billion by 2032. McKinsey & Company Partner Anirudh Roy Popli ...

SEMI, peer IESA join hands to boost semiconductor ecosystem in India

Global semiconductor body SEMI and its peer IESA have announced a strategic agreement to boost the industry ecosystem in India, a joint statement said. As part of the agreement, the Indian Electronics and Semiconductor Association (IESA) will become part of the SEMI-- the organiser of Semicon events including Semicon India. "This partnership will help SEMI grow a strong presence in this critical emerging market and enable both organisations to identify tangible strategies that leverage our combined strengths to enhance supply chain resilience," Ajit Manocha, President and CEO, SEMI said. The agreement was signed on the sidelines of Semicon India 2024, the statement said on Wednesday. This agreement will also pave the way for joint policy advocacy efforts, with IESA and SEMI working closely with both Central and State governments to drive incentives for product development and manufacturing, leveraging key programmes such as the Production Linked Incentive (PLI) and Design Linked ..

Tricolour sales soar amid campaign to unfurl it in every home

Har Ghar Tiranga campaign, launched in 2022, has traders busy

India's toy exports dip to $152 million in FY24 due to global headwinds

Union Minister Jitin Prasada informed Rajya Sabha that India's toy imports were recorded at $65 million in 2023-24

Manufacturing wages are heading up amid labour shortage in country

Pay is rising faster than in other segments of the economy

Govt steps help boost toy making, exports; more work needed: DPIIT secy

Government measures such as mandatory quality control orders and increasing customs duty have helped boost exports of toys from India, but there is a need to do much more for the sector, a top official said on Wednesday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh also indicated that they are diligently pursuing the proposal of extending fiscal incentives under the production-linked incentive scheme for the sector. He said that the industry is wondering about one proposed major policy intervention and "let me assure you that we are still pursuing that". In the interim Budget in February, the Commerce and Industry Ministry has recommended an outlay of Rs 3,489 crore for the Production Linked Incentive (PLI) scheme for toys to boost domestic manufacturing of the sector. As the scheme is yet to be cleared by the Union Cabinet, the interim Budget has made a token provision of Rs 1 lakh towards the scheme for 2024-25. The scheme a

Modi govt focusing on boosting manufacturing, says EAM Jaishankar

Boosting India's domestic manufacturing and the overall economy will provide much more resources in its foreign policy toolkit to expand the country's influence globally and compete with China on the economic front, External Affairs Minister S Jaishankar said. India under the leadership of Prime Minister Narendra Modi has been focusing on enhancing domestic manufacturing in the last 10 years as there was a neglect of the sector before 2014 and it created many problems for the country, Jaishankar told PTI in an exclusive interview. He also suggested that lack of focus in the past to the manufacturing sector is linked to the upward trajectory in India-China trade notwithstanding New Delhi's position that normalisation of ties with Beijing is dependent on the resolution of the eastern Ladakh border row. "We need to be confident. I am clear that international politics, international relations are competitive. I have a neighbour like China. I have to learn to compete," he said. "By my .

Women representation in mfg sector to touch 40% by year-end: TeamLease

There has been a significant increase in demand for women apprentices in the manufacturing sector, as factories are increasingly adopting gender-agnostic recruitment practices, a sharp departure from traditional hiring norms and underscore the industry's commitment to fostering inclusive work environments. According to staffing company TeamLease, in the past 8-10 months, there has been a remarkable five-fold surge in demand for young women who have completed class 10/12 to be appointed as apprentices, reflecting a shifting landscape in India's workforce dynamics. The surge in demand for women apprentices is primarily driven by the booming sectors of auto, Electric Vehicle (EV), electronics, and phone manufacturing. "This surge is anticipated to lead to a significant increase in the representation of women apprentices, reaching up to 40 per cent by the end of the year," said Sumit Kumar, Chief strategy officer at TeamLease Degree apprenticeship. Kumar stressed on integrating an ...

Global factory check-up about to reveal extent of nascent recovery

A recent uptick in a global index of manufacturing - to the highest level since mid-2022 - has spurred expectations the sector has reached a turning point

GTRI suggests criteria to simplify granting incentives under PLI schemes

Economic think tank GTRI has flagged the slow progress in disbursement of sops under production-linked incentive (PLI) schemes and suggested the government to simplify the criteria so as to expedite grant of incentives and push domestic manufacturing. The Rs 4,415 crore disbursement is only 2.25 per cent of the total outlay of Rs 1.97 lakh crore of incentives over five years under the PLI schemes announced in 2020, the Global Trade Research Initiative (GTRI) said on Sunday. "This slow fund spend is unsurprising, considering that setting up greenfield or new manufacturing operations takes time," it said. "PLI criteria for various sectors include thresholds on investments, production, sales, degree of localization, inputs used and many more. Manufacturers may not be able to tick on all boxes," GTRI Co-Founder Ajay Srivastava said. Citing an example, he said in one of the cases, the government suspected the invoice value and disallowed the incentive of a few hundred crore. "In most .

Indian manufacturing unit to be operational by early 2025, says Micron CEO

Global memory and data storage major Micron Technology on Thursday said the first phase of its plant in Gujarat's Sanand will become operational in early 2025. It has already started construction of the plant by roping Tata Projects, and the hiring process has also begun, the US-based company's president and chief executive Sanjay Mehrotra said at the Vibrant Gujarat Global Summit here. "The first phase, which will include 5,00,000 square feet of plant clean room space, will become operational in early 2025," he said. The investment was first announced during the US visit of Prime Minister Narendra Modi in June 2023 and construction had begun in September. Micron has committed to invest over USD 800 million in the plant of the over USD 2.75 billion cost. The "clean room" typically hosts an Assembly, Testing, Marking and Packaging (ATMP) plant which operates in near-zero dust and vibration environment. Mehrotra said the company will ramp up capacity over time as per global demand a

Factory growth ends 2023 at 18-month low on weaker new orders, output

'Growth of both output and new orders softened, but on the other hand, the future output index rose since November'

The Bangladesh model

India needs many more low-skill manufacturing jobs

Intel partners with Israel to invest $25 bn in new manufacturing facility

The new factory is expected to begin operating in 2028. Intel will operate it at least till 2035

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

Intel beats expectations as margins rise, manufacturing momentum builds

The company expects fourth-quarter adjusted profit per share of about 44 cents, above analysts' estimate of 32 cents

How PLI-2 scheme is attracting traditional tech cos to manufacture in India

While PC, laptops, mobile phone makers are setting up a manufacturing hub in India, with players like HP and Cisco coming in, it adds to diversity of hardware capability the country is building

While collar hiring dip 3% in June on cautious recruiter sentiments: Report

White collar jobs witnessed a 3 per cent annual decline in June due to cautious recruiter sentiments in sectors including IT, BFSI, manufacturing, according to leading talent platform foundit. Sectors such as IT (- 19 per cent), BFSI (- 13 per cent), Home Appliances (- 26 per cent), and Production/ Manufacturing (- 14 per cent) have not yet bounced back to last year's hiring numbers, despite the monthly positive incline seen in a few of these industries, it said. The foundit Insights Tracker (fit), earlier known as Monster Employment Index, is a monthly analysis of online job posting activity based on a real-time review of millions of employer job opportunities. However, on a month-on-month basis, there was a 2 per cent growth, which indicated a resurgence in online hiring activity across key industries. Positive e-recruitment activity was observed in June 2023, on a month-on-month basis, with sectors such as healthcare (11 per cent), BPO (7 per cent), production and manufacturing

IIT-Madras launches electronic systems programme to boost manufacturing

IIT-Madras on Thursday announced the launching of a Bachelor of Science (BS) in Electronic Systems programme to meet the fast-emerging demands of the indigenous electronics industry.