Manufacturing Sector

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

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

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

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

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

Manufacturing output shrinks for second straight quarter

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

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

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

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

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

The average attrition rate across manufacturing and services industries increased sequentially to 8.27 per cent in the October-December quarter, a report said on Monday. With a continuance of the 'Great Churn', attrition across industries witnessed a 0.46 percentage point increase from an average of 7.81 per cent in the second quarter to 8.27 per cent in the third quarter, according to TeamLease "Employment Outlook Report". The report is forward looking statistics for 'Intent to Hire' for January to March 2023, for both manufacturing (nine industries) and services sectors (14 industries), which is based on a survey of 874 small, medium and large companies. The report revealed that the Information Technology industry in the services sector had higher average attrition (27.19 per cent) compared to Healthcare and Pharmaceuticals industry in the manufacturing sector (15.67 per cent). It found that healthcare and pharmaceuticals industries saw double digit attrition rates (15.67 per ce

The IIP manufacturing for November expanded to its highest in five months after a subdued performance in October 2022

The event, which is to be held on January 24, is being held in cooperation with Dubai Chamber and will be addressed by Piyush Goyal, Minister of Commerce & Industry

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

Despite the Narendra Modi government's high-octane push to boost manufacturing through the 'Make in India' initiative, foreign investors continue to chase bets in the services sector, a domestic rating agency said on Wednesday. India Ratings and Research also said a bulk of the foreign direct investment (FDI) in manufacturing is not greenfield or fresh investments which should otherwise be the aspirational aspect. despite the government's effort to attract more investments in the manufacturing sector through 'Make in India' campaign, the FDI inflow is still tilted in favour of the services sector, the rating agency said. this could be because doing business in the services sector is less complicated than doing business in the manufacturing sector in India, the agency, an arm of Fitch Ratings, said. It said services sector FDI increased to USD 153.01 billion in the services sector during April 2014 to March 2022 from USD 80.51 billion during to April 2000 to March 2014, while the ..

The company is selling its loss-making German CV forging business

Does India need PLI to become a toy manufacturing powerhouse?

Toy imports have come down by 70% in the last three years, while export is up by 60%. Govt is now mulling a PLI scheme to give the sector a fillip. Will the scheme help the toy manufacturing sector?

How two poster boys of the government's signature manufacturing programme are deploying it to grow in India

Local manufacturers have blossomed under new government policy but are yet to significantly move up the quality value chain or reduce dependence on China