Page 13 - Manufacturing Sector

The right incentive

PLI scheme alone would not be enough

Global manufacturing sputters with ongoing shift toward services spending

Business conditions in China's manufacturing industry, the largest in the world, improved in May, according to the Caixin manufacturing Purchasing Managers' Index

IPEF's supply chain agreement to boost domestic manufacturing: Commerce min

Implementation of the supply chain agreement being finalised among the 14-member IPEF grouping is expected to extend a number of benefits to India, including boosting domestic manufacturing and mobilisation of investments, the commerce ministry said on Thursday. Members of the Indo-Pacific Economic Framework (IPEF) concluded the negotiations on the proposed agreement, one of the four pillars of the Indo-Pacific Economic Framework for Prosperity (IPEF), on May 27 in Detroit. "Once implemented, the Supply Chain Agreement is expected to bring in a number of benefits to India and the other IPEF partner countries," it said. Some of the key benefits expected are potential shift of production centres in key goods/critical sectors to India; bolstering of domestic manufacturing capacities; mobilization of investments especially in production of key goods, logistics services and infrastructure, the ministry said. It may also help in increasing exports from India; mitigation of risks of econo

MeitY invites applications for incentives under PLI 2.0 for IT hardware

Ministry of Electronics and Information Technology opens the window for applications under the PLI scheme 2.0 for IT hardware to enhance manufacturing electronics sector

From mobile phones to chips, India manufacturing enters golden era

According to data by the India Cellular and Electronics Association (ICEA), mobile phone exports made history by crossing the $10 billion threshold for the first time in any fiscal year

India sees a Rs 200 cr investment in washing machine plant by Thomson

Thomson has invested Rs 200 cr to set up washing machine manufacturing unit in India which will produce 500,000 in six month

FDI inflows decline 16% to $71 billion for first time in a decade: RBI data

The net FDI also witnessed a decline of nearly 27 per cent to $28 billion in 2022-23 as against $38.6 billion a year ago

China's non-manufacturing sector continues to maintain expansion in April

The index of new orders in the air transport industry rose for three consecutive months and remained above 70 per cent

Triveni Turbine surges 4%, nears record high on healthy business outlook

ICRA upgraded the long-term rating of the bank facilities of TTL on expectation of improvement in revenues, operating profits, and robust debt coverage metrics in FY2023-FY2024

3 megatrends that give India a chance to become the world's next factory

Convergence of external and internal elements affords country a lifetime opportunity, writes Mayank Dhaundiyal

WPI inflation eases to 25-month low in Feb as manufacturing prices cool

Inflation for manufactured items eased to 1.94% in Feb from 2.99% in Jan

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

Data revision of previous years behind decline in manufacturing in Q3: CEA

Chief Economic Advisor V Anantha Nageswaran on Wednesday said the performance of the manufacturing sector and growth rate in private consumption expenditure in the December quarter of 2022-23 is appearing 'depressed' because of higher base. According to Nageswaran, the GDP growth base was inflated due to data revision for the past three years. The National Statistical Office (NSO) on Tuesday revised GDP growth data for the past three years -- 2019-20, 2020-21 and 2021-22 and also released the second advance estimates of GDP for 2022-23. While the growth rate for 2021-22 has been revised up by 40 basis points to 9.1 per cent, from 8.7 per cent, the GDP for 2020-21 (Covid impacted year) too has been revised upwards to (-) 5.8 per cent, from (-) 6.6 per cent. For 2019-20 also, the growth has been revised upwards to 3.9 per cent, from 3.7 per cent. However, the second advance estimates for 2022-23 real GDP growth was retained at 7 per cent -- as was projected in first advance estimate

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

India's GDP growth slows to 4.4% in Q3; manufacturing woes remain

Manufacturing output shrinks for second straight quarter

Soon, book a drone powered by PPP; pilot project set for take-off

States may provide a subsidy on the price that consumers have to pay for the service to make it more affordable

Manufacturing drags industrial production growth to 4.3% in December

In the first three quarters of FY23 (April- December), IIP grew 5.4 per cent against 15.2 per cent during the year-ago period

Escorts Kubota posts 6% YoY decline in Dec quarter profit to Rs 180 crore

Farm and construction equipment manufacturer Escorts Kubota Ltd on Wednesday posted a 6.7 per cent decline in consolidated net profit to Rs 180.8 crore in the third quarter ended December 31, 2022. The company had posted a consolidated net profit of Rs 193.71 crore in the same period last fiscal, Escorts Kubota Ltd said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 2,291.35 crore as against Rs 1,998.29 crore in the year-ago period, it added. Total expenses were higher at Rs 2,141.47 crore, up from Rs 1,756.7 crore in the corresponding quarter a year ago. During the quarter the company sold 28,025 units, up 10.7 per cent from 25,325 units in the year-ago period. The agri segment revenue rose 12.4 per cent at Rs 1,708 crore as compared to Rs 1,519.3 crore in the same period last fiscal. Construction equipment sales volume were at 1,209 machines, up 5 per cent as against 1,151 machines in the same period a year ago, with the

UP GIS-23: 56% investment proposals received in manufacturing sector

The Manufacturing sector among all other sectors has attained close to 56 per cent of the total investment

Budget measures key trigger for consumer durable firms battling high prices

Any proposal to boost manufacturing, demand would help sector and listed companies