Page 8 - Manufacturing Sector

India must focus on manufacturing to compete with China: EAM Jaishankar

To compete with China on the economic front, India should focus on manufacturing, a key sector which was ignored by governments before Prime Minister Narendra Modi came to power in 2014, External Affairs Minister S Jaishankar has said. Noting that tension at the border with China has caused "abnormality" in New Delhi-Beijing relations, he said India's thinking is absolutely clear that unless there is peace and stability in the border areas, the ties between the two Asian powers will not improve. "If we have to compete with China, which we should, then its solution is that we should focus on manufacturing here. Our approach towards manufacturing has changed after Modiji came to power. Before that, people did not give much emphasis on manufacturing," Jaishankar said during his interaction with industry leaders at a programme in Surat on Monday. There is no other way to counter China on the economic front, insisted the career diplomat-turned-politician while replying to questions from

New private project announcements zoom ahead of Lok Sabha elections

Manufacturing sector accounted for nearly 60 per cent of new project value

BOJ survey finds less optimistic manufacturers, but happier service sector

A key Japanese central bank report said Monday that sentiment among big manufacturers has sagged but that optimism is at a three-decade high among large business outside the manufacturing sector. The Bank of Japan's tankan report said sentiment among large manufacturers, which include auto and electronics giants, declined in March for the first time in a year, standing at plus 11, down two points from December. The average market forecast by Japanese news service Kyodo was 9. The index for large-scale non-manufacturers, including the service sector, hit a 33-year high at plus 34 points, up two points from the last report in December. The tankan, carried out every three months, surveys about 9,000 Japanese companies and measures corporate sentiment by subtracting the number of companies saying business conditions are negative from those saying they are positive. The optimism among the non-manufacturing businesses reflects the return of tourism, both overseas and domestic, which had

China's manufacturing activity increases for first time in six months

China has set a target to increase gross domestic product by about 5% this year

We need more large companies to aid India's high growth: Amitabh Kant

Amitabh Kant discusses India's role in G20 and path to becoming a developed nation by 2047 at Business Standard Manthan

Pharma regulation: A complex problem

Medicines are critical for human wellbeing but its regulation, which is inherently complex, is even more challenging in India

Rasna looks at overseas franchise arrangements for manufacturing abroad

Negotiations for franchise agreements were on for Egypt, Indonesia and Philippines. Market size, increasing logistics cost and high duties were factors spurring such arrangements

India's economic growth probably slipped below 7% in Oct-Dec quarter

"Some moderation is expected in October-December GDP growth, with softer growth in manufacturing sector," said Gaura Sen Gupta, an economist at IDFC First Bank

T'gana to develop next phase of 'Genome Valley' with Rs 2,000 Cr investment

The Telangana government will be taking up the next phase of 'Genome Valley', the country's first organised cluster for Life Sciences R&D and clean manufacturing activities here with an investment of Rs 2,000 crore in 300 acres of land, Chief Minister Revanth Reddy said on Tuesday. Speaking at BioAsia 2024, a healthcare and life sciences annual event, Reddy said the government is also planning to develop ten "Pharma Villages" in the state which will have investment potential of Rs one lakh crore. "I am announcing here to establish the next phase of Genome Valley in 300 acres of land with Rs 2,000 crore of investment," he added. He further said the Pharma Villages will have the potential to generate five lakh jobs after they are established. Reddy said the government has also identified clusters for Greenfield Integrated Pharma Villages in Vikarabad, Medak and Nalgonda, all three different areas of Telangana for infrastructure and investment. According to him, the state government

Mfg should contribute quarter to India's economic growth: M&M Group MD

The manufacturing sector needs to contribute a quarter to India's economic growth amid its ambition of becoming a USD 30-trillion economy by 2030 and a developed country (Viksit Bharat), M&M group Managing Director and CEO Anish Shah said on Friday. Sharing his perspective on the role industries and enterprises will have to play in accelerating national growth and economic prosperity at the third ABP Network's 'Ideas of India Summit 3.0' here, he also said over the next seven years, Indian GDP is expected to add as much to the global GDP as the entire European Union combined. The two-day event, which began here on Friday, has seen the participation of policymakers, cultural ambassadors, industry experts, celebrities, business leaders, economists, among others. "India envisions to be a 30-trillion economy by 2047 to be a Viksit Bharat. This means manufacturing should be 25 per cent of GDP... We should be more ambitious and make manufacturing grow 16 times and exports grow 11 ...

Space leasing for light manufacturing activities rises 23% in 2023: C&W

Leasing of industrial space for light manufacturing activities rose 23 per cent last year to 15.9 million square feet across eight major cities due to favourable government policies, according to Cushman & Wakefield. The leasing of industrial space stood at 12.91 million square feet in the calendar year 2022. Real estate consultant Cushman & Wakefield (C&W) on Thursday released its annual Logistics and Industrial report (L&I) report, which showed that Pune and Chennai accounted for 53 per cent and 24 per cent of the total leasing of industrial space in 2023 across eight major cities. "The growth in industrial leasing indicates that manufacturing is on an uptrend on the back of healthy capacity utilization, implementation of business plans by domestic firms and incentivization of investments by multinationals through favourable government policies such as the multi-sector PLI scheme," the consultant said. Industrial sheds available for lease primarily cater to light ...

India's Feb business activity accelerates to 7-month high on solid demand

That bolstered the view for the coming 12 months with optimism among manufacturers at the highest since December 2022

Canara Robeco Mutual Fund launches fund on manufacturing theme

The tailwinds are emerging from several fronts - policy reforms like Production-Linked Incentive (PLI) and Make in India, global supply chain diversification, investments and capacity utilisation

India's true manufacturing rival is Vietnam, not China

For India to succeed, it needs to start thinking outward, which means understanding that the investment and business environment there isn't competitive

Balanced approach

Manufacturing needs growth and diversification

Uttarakhand saw sharpest dip in workforce during Covid, says survey

This was followed by the decline in workforce in the states such as Jharkhand (-8.9 per cent), West Bengal (-8.3 per cent), Kerala (- 8 per cent) and Karnataka (-7.8 per cent)

'Marginal' dip in manufacturing jobs during Covid-19 pandemic: ASI

According to ASI data, the employment in the manufacturing sector during the Covid pandemic year (FY21) declined by 3.2 per cent (year-on-year) to 16.08 million

Buoyant demand pushes India's services PMI to 6-month high in January

January figure marks 30 months of the index remaining above the 50-mark since July 2021. A reading above 50 in the survey indicates expansion of the sector and a figure below that suggests contraction

Nearly Rs 41,000 crore unspent from govt's Rs 1.97 trillion PLI fund

This means that 80 per cent of the total allocated amount or Rs 1.56 lakh crore will be used to pay incentives to companies eligible to claim benefits over the next few years

China's factory activity expands on export order boost, shows survey

The export index may have been affected by the Lunar New Year which will fall on Feb. 10 this year, as factories and workers geared up for the pre-holiday shipment of goods