Page 7 - Manufacturing Sector

Gains in manufacturing and services sectors push flash PMI to 60.9 in June

The survey also noted that pace of job creation was at its strongest in over 18 years

India to remain fastest growing Asia-Pacific economy, predicts Moody's

Moody's Ratings on Thursday said India will remain the Asia-Pacific region's fastest-growing economy in 2024, sustaining last year's domestically driven momentum. In a report titled Credit Conditions Asia-Pacific H2 2024 Credit Outlook, Moody's Ratings said Indonesia, the Philippines and India led the way in terms of growth in first half of 2024 and should continue to outperform pre-COVID growth numbers on the back of rising exports, local demand and government spending on infrastructure. "India will remain the region's fastest-growing economy, sustaining last year's domestically driven momentum. We anticipate policy continuity after the general election, and a continued focus on infrastructure development and encouragement of private sector investment," it said. Moody's said stronger portfolio inflows are likely in India and ASEAN economies, because of robust corporate credit metrics and appealing valuations. Last month, the rating agency projected India to grow 6.8 per cent in t

China's exports grow 7.6% in May despite trade tensions with US, Europe

China's exports in May grew at their fastest pace in more than a year despite trade tensions, though imports fell short of analyst expectations, according to customs data released on Friday. Exports jumped 7.6 per cent in May from the same month last year to USD 302.35 billion, rising at the fastest pace since April 2023. Imports rose by 1.8 per cent to USD 219.73 billion, missing estimates of about 4 per cent growth. The uptick in exports is also partly due to a lower base in the same period last year, when exports declined 7.5 per cent. In comparison, exports grew by 1.5 per cent in April compared with the same period last year, while April imports rose by 8.4 per cent. The strong exports caused China's trade surplus to widen to USD 82.62 billion, up from April's USD 72.35 billion. The growth in exports comes as China faces escalated trade tensions with the US and Europe. The US is ramping up tariffs on Chinese-made electric cars while Europe is considering levying similar ...

Heatwave drags manufacturing growth to three-month low in May: PMI data

But the sector remains in expansionary territory in May. Manufacturing employment rose to one of the greatest extents seen since data collection started in March 2005

Mahindra Manulife Manufacturing Fund is open for subscription: Have a look

Mahindra Manulife Manufacturing Fund will invest in the equity of companies engaged in manufacturing and related activities

Manufacturing share in capital formation down between FY19 and FY23

The report notes that the share of public administration and defence improved, attributable to increased government spending

India must up its share in global manufacturing: FM Nirmala Sitharaman

Some economists, including former RBI Governor Raghuram Rajan, have said recently that India should focus on services sector rather than manufacturing as it has missed that opportunity

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 .

Transforming manufacturing

Dependence on PLI should be contained

PLI for electronics parts: Meity seeks info on production competitiveness

Meity has held numerous consultations with industry players and is hoping to launch the scheme as part of its 100-day agenda after the new government is formed after the general elections

Rockwell to open new manufacturing unit in Chennai by first half of 2025

The 98,000-square-foot facility-with space for potential expansion-will help Rockwell build a more resilient, agile, and sustainable supply chain in the Asia Pacific region

Early bird top line growth fastest in four quarters; BFSI leads the charge

IT, manufacturing laggards in Q4 so far

Electric car Tesla may set up manufacturing plants in India, Mexico in 2025

Elon Musk pointed out in Tuesday's earnings call that Tesla expects a 50 per cent increase in production over 2023

Sharp contrasts in two Industrial hubs: Noida flourishes, Ghaziabad falters

Noida, Ghaziabad goes to polls tomorrow but the sentiment in the industrial hubs show a stark contrast

Chinese EV manufacturers may be excluded from India's policy concessions

India will continue to allow imports of Chinese BYD vehicles but will not be extending investment opportunities

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 ...

Quality Control Orders: What do they mean for the domestic industry?

India believes developed countries and China use quality control orders as a trade barrier, and seeks to play catch-up

India will be $34.7 trn economy by 2047; per capita to be $21k: PHDCCI

The report said that the share of agriculture in total GDP would come down to 12% in FY47

Upswing in global manufacturing growth could be good news for world economy

Nations that are important nodes in factory supply chains enjoyed an acceleration in March

PepsiCo to invest Rs 1,266 crore to set up new facility in Madhya Pradesh

The Ujjain-plant will be crucial for PepsiCo's beverage production in India, enabling the company to meet the rising demand