India's Manufacturing Sector

The survey noted that the February data pointed to a consecutive twenty-month rise in manufacturing production

The manufacturing sector shrank 1.1% in the quarter year-on-year, the second straight contraction reflecting a weakness in exports

Hiring activity in the e-recruitment white-collar space in January witnessed 2 per cent year-on-year decline mainly due to slowdown in sectors including IT, telecom, manufacturing and healthcare, a report said on Wednesday. E-recruitment refers to the process of employing talents using various online sources. Demand for jobs in production and manufacturing declined by 8 per cent as did in healthcare (7 per cent), IT hardware and software (7 per cent), telecom (5 per cent) and banking, financial services and insurance (3 per cent), according to Foundit (formerly Monster) Insights Tracker (fit) for January 2023 . While IT faces a lull due to global macro conditions and course correction from last year's hiring surge, production hiring was impacted due to cost pressures and a rise in input prices. BFSI (banking, financial, services and insurance) sector, which had continuously witnessed positive hiring numbers, has noted a marginal dip of 1 per cent annually, the report stated. The .

Manufacturing sector contributes 15% to India's GDP and hence the expectation of experts are high from the government

Growth in new orders and output enable factories to end 2022 on a strong note: Survey

Monday's data cemented the view Asia's third-largest economy is better placed than many other emerging economies to weather the impact of a potential global recession

The government is working to extend Rs 3,500 crore worth of production linked incentive benefits to toys, which are compliant with the norms of Bureau of Indian Standards (BIS), with an aim to make domestic manufacturing globally competitive, attracting investments and enhancing exports, an official said. The official said that the measures announced by the government for the toys industry like introduction of quality control orders and increasing customs duties from 20 per cent to 60 per cent has helped in cutting down sub-standard imports and promoting domestic manufacturing in the country. "Now we are working to extend PLI (production linked incentive) benefits for toys, but it will be given to BIS-compliant toys only. PLI benefits can be given according to different investment slabs which can range from Rs 25 crore to Rs 50 crore or Rs 100-200 crore," the official added. The proposal is to give the incentives on the full product and not on components as the industry still needs

Government's PLI schemes can help manufacturing and reduce import dependence in some sectors, say some experts

Chandrasekhar said India is well positioned to emerge as a major player in electronics and semiconductor products manufacturing as part of the 'China Plus One' diversification strategy

61% respondents in survey reported higher production level in September quarter over the year-ago period, as against 55% who reported higher output in June quarter of FY23

The company has priced its IPO between Rs 197 to 207 per share

Prime Minister Narendra Modi on Friday said India has the potential to lead the fourth industrial revolution and the government has worked on reforms to make the country a manufacturing hub of the world. He said that the fourth industrial revolution is as much about new technology, as it is about innovative thinking. "Due to various factors, India may have missed being a part of earlier industrial revolutions. But India has the potential to lead Industry 4.0, because, for the first time in recent history, we have many different factors like demography, demand and decisive governance coming together," he said through a message. The Prime Minister's message was read by a Joint secretary of the Ministry of Heavy Industries here at the conference on Industry 4.0. Modi added that the industry and entrepreneurs play a key role in making India a vital link in global value chains. "We have worked on reforms and incentives to make India a tech-powered manufacturing hub of the world," he ..

To rein in inflation, the RBI had hiked its key interest rate by a cumulative 190 basis points since early May

The manufacturing sector attracted foreign direct investments worth USD 21.34 billion in 2021-22, an increase of 76 per cent year-on-year, the commerce ministry said on Thursday

Factory orders, production rise for 12th month in a row

Buzz is that the company may look at the Ford India unit near Chennai for its new facility; sources say group was already betting big in EV components through Bharat FIH

The aim is to boost domestic output, without raising tariffs or providing subsidy, of items on whose imports India is heavily dependent. The plan is to start with consumer and capital goods

The program is a pan-India initiative involving development of 'plug and play' infrastructure which is aimed at boosting manufacturing ecosystem in the country, Goyal said

While Covid hit services exports harder than manufacturing, the share of the former in global services exports seems to support the call experts have made in favour of the sector

On BSE, the scrip closed 5.87 per cent lower at Rs 338.3; Intra-day, it was trading at Rs 337.2