Page 2 - Manufacturing Jobs

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.

Hiring intent for manufacturing, services sector up 10% in Q1FY24: Report

Even as there is an ongoing global turmoil, hiring intentions in services and manufacturing sectors for the first quarter of 2023-24 are 10 per cent more than the year-ago period, a report said on Tuesday. According to the TeamLease Services' 'Employment Outlook Report' for the Services and Manufacturing sectors for Q1, FY24, despite the ongoing global turmoil, hiring intent in India has steadily increased over the past year. In comparison to the same quarter in the previous year (April-June 2022-23), hiring intentions in the services and manufacturing sector in the first quarter of FY24 is 10 per cent higher as close to 64 per cent of employers the employers interviewed said they are keen to increase their resource pool across industries. However, compared to the fourth quarter of FY23, the hiring outlook has witnessed a dip of 4 per cent. The TeamLease Employment Outlook Report for the Services and Manufacturing sectors is based on a survey of 809 small, medium and large companie

3M plans to cut 2,500 jobs globally as outlook signals more turbulence

3M shares dropped as much as 4.7% before the start of regular trading in New York

COVID-19 pandemic strongly impacted manufacturing in India: Study

COVID-19 strongly impacted the manufacturing sector in India, according to a study which provides new insight into how countries respond to systemic shocks such as the pandemic. Previous attempts to quantify the impact of COVID-19 mostly looked only at the pandemic in a single dimension, such as gross domestic product or a country's unemployment rate. The latest study, published in PLOS One, explored resilience across a variety of social, economic and political domains in several countries, including the US, Brazil, India, Sweden, New Zealand and Israel. "We found significant discrepancies between what experts had predicted would be the most resilient countries if struck with a pandemic," said Sara Del Valle, from the Los Alamos National Laboratory in the US. The researchers found that the most pandemic-impacted sectors also differed across countries. The study shows that human health, public administration and defense were strongly impacted in the US and Sweden, while manufacturi

Manufacturing sector companies outperform on the bourses in 2022

But it remains a laggard on the bourses over the past decade

On Udaan network, local mobile accessory brands take wings in 'Bharat'

Udaan said its in-house expert team works closely with small manufacturers and trains them to run an e-commerce business

'Strong demand outlook for domestic solar OEMs aided by policy measures'

Business prospects of domestic solar original equipment manufacturers (OEMs) will remain strong aided by several policy measures over medium-term, rating agency Icra said. As a result, many domestic OEMs have announced sizeable capital expenditure to augment the cell and module capacity, including the capex for integrated facilities under PLI scheme by the winning bidders. However, it stated that timely commissioning and ramping up of ongoing capex in module manufacturing value chain remains a critical factor in the near to medium-term. As a result, adequacy of the modules from the domestic OEMs to meet the demand in utility & non-utility segment as well as quality of such modules remains a monitorable. "The policy focus by Government of India in the renewable energy (RE) sector remains strong as also evident from the policy target of 500 GW of non-fossil fuel-based capacity by CY 2030 as well as policy direction in the energy transition with net zero emission target by 2070," ...

S Korea factory activity grows for 14th month but output, orders shrink

Output continued to shrink on shortages of materials, notably in the semiconductors market.

Indian firm Optiemus, Taiwan's Wistron sign deal to make mobile devices

The strategic alliance will design and manufacture tablets, laptops, hearables, wearables, telecom products.

Manufacturing PMI falls to 7-month low in March as Covid cases rise

Employment declined in March, says report as central bank's committee meets for monetary policy.

Big bets on PLI schemes to find pot of gold at the end of the rainbow

The govt is going all out to push its ambitious production-linked investment scheme to help Indian manufacturing scale up and make India an export hub