manufacturing jobs up 7.6 pc, wages rise 5.5 pc in FY-23: FM Sitharaman hails growth
New Delhi [India], October 1 (ANI): Union Finance Minister Nirmala Sitharaman on Tuesday praised the recent surge in manufacturing jobs and wages for workers in the financial year 2022-23, calling it a significant achievement. According to a government survey, manufacturing jobs increased by 7.6 percent, while wages saw a 5.5 percent rise during the fiscal […] Key Points
ThePrintIndia’s manufacturing PMI at 16-year high at 59.1 in March
Manufacturing PMI in March touches 59.1: "The notable improvement in operating conditions reflected stronger growth of new orders, output and input stocks as well as renewed job creation,” said S&P. Key Points
Business TodayIndia's March manufacturing PMI rises to 16-year high as output and orders jump to highest since October 2
India's manufacturing sector ended FY24 with remarkable performance, as reflected in the HSBC India manufacturing PMI hitting a 16-year high of 59.1 in March. Strong output and new orders prompted increased hiring, yet concerns over inflation caused overall sentiment to dip to a four-month low, despite optimism in certain areas. Key Points
Economic TimesA central intelligence agency for manufacturing, made in India
The proposed intelligence unit would study the impact of schemes launched by the government aimed at lifting the share of manufacturing in GDP to 25% by 2047 from about 17% currently. In addition to Production Linked Incentive (PLI) schemes worth ₹1.97 lakh crore, the government started the Make in India initiative and the Phased manufacturing Programme (PMP) to boost local production and encourage export substitution. Key Points
Economic TimesBusiness activity rises to 8-month high in March
The HSBC Flash India Composite PMI Output Index rose to 61.3 in March from 60.6 in February. The increase was led by manufacturing output, which expanded at its fastest pace of 63.5 in nearly three and a half years from 60.7 in February. manufacturing PMI, which represents private activity in the sector, rose to 59.2 compared with 56.9 in the previous month. Key Points
Economic Times
Private sector activity rises to eight month high of 61.3 in March
Indias private sector output rose to its highest level in eight months to 61.3 in March compared with 60.6 in the previous month, according to results of a private survey released Thursday. Key Points
Economic TimesRobust PMI figures signal a strong economic momentum
The HSBC India Services PMI clocked a robust 60.6 in February. Together with the manufacturing PMI climbing to a five-month high, there’s cause for optimism. Key Points
mintIndia's manufacturing sector growth hits five-month high in Feb on robust demand
New Delhi, Mar 1 (PTI) India’s manufacturing sector growth climbed to a five-month high in February amid a sharper uptick in factory production and sales, supported by both domestic and external demand, a monthly survey said on Friday. The seasonally adjusted HSBC India manufacturing Purchasing Managers’ Index (PMI) rose from 56.5 in January to 56.9 […] Key Points
ThePrintmanufacturing activity climbs to five-month high of 56.9 in February
In February, manufacturing activity in India reached a five-month high due to increased new export orders and sustained domestic demand. The HSBC India manufacturing Purchasing Managers Index rose to 56.9, with new export orders hitting a 21-month high. External demand was driven by countries like Australia, Bangladesh, Brazil, Canada, China, Europe, Indonesia, the US, and the UAE. Key Points
Economic TimesIndia's factory growth at five-month high in February, cost pressures cool
Asia's third-largest and the world's fastest-growing major economy expanded 8.4% in the October-December quarter, partly helped by a surge in manufacturing, according to data released by the government on Thursday. Key Points
Economic Times
Gopal Snacks IPO price band fixed at Rs 381-401/share; issue to open on March 6
Gopal Snacks IPO is an offer for sale worth Rs 650 crore. The snackmaker looks to sell shares in the range of Rs 381-401 per share. The public offer will open next week on March 6 and run till March 11. Key Points
Economic Timesmanufacturing sector should contribute quarter to India's economic growth: M&M Group MD Anish Shah
M&M group Managing Director and CEO Anish Shah has stated that the manufacturing sector should contribute 25% to India's economic growth, as the country aims to become a $30-trillion economy by 2030 and a developed country. Shah also highlighted that India's GDP is expected to contribute as much to the global GDP as the entire European Union combined over the next seven years. Key Points
Economic TimesIndia’s factory employment crossed pre-pandemic level in FY22, investment also picked up pace
India's factory employment grew by 7% in FY22, surpassing the pre-COVID level, as per the Annual Survey of Industries. Investments and output also increased, indicating the country's recovery from the pandemic. The manufacturing sector showed resilience after the adverse effects of the pandemic, with a marginal fall in employment in 2020-21. Key Points
Economic TimesEV push in Budget to give fillip to warehousing & logistics sectors
The government's emphasis on electric vehicles (EVs) in the recent budget is expected to have a transformative impact on the country's industrial landscape. The push for EV manufacturing, charging infrastructure, and incentives aligns with the 'Make In India' program and aims to create a robust EV industry. This move is expected to not only reshape the automobile industry but also fuel demand for new storage, distribution, and logistics facilities. The intricate logistics involved in the EV supply chain will drive the need for strategically located and advanced warehouses to support the growing EV market. Key Points
Economic TimesIndia's manufacturing sector growth climbs to four-month high in Jan on sharper upturn in new orders
New Delhi, Feb 1 (PTI) India’s manufacturing sector growth climbed to a four-month high in January as a sharper upturn in new orders boosted output growth amid mild cost inflation, a monthly survey said on Thursday. The seasonally adjusted HSBC India manufacturing Purchasing Managers’ Index (PMI) recovered from an 18-month low of 54.9 in December […] Key Points
ThePrint
manufacturing activity rises to four month high of 56.5 in January
HSBC India manufacturing Purchasing Managers' Index rose to a four-month high of 56.5 in January, recovering from the previous month's 18-month low of 54.9. The rise in production was driven by robust domestic demand, with current output expanding and domestic orders growing faster than export orders. Key Points
Economic TimesIndia Inc makes little headway in getting new-gen chip technology
Negotiations for joint ventures by top conglomerates such as Tatas and Vedanta with potential partners, especially from Taiwan, have made little headway due to firm terms. Global companies are adopting a wait-and-watch approach and prefer to go on their own due to technology transfer fears. Reliance Industries is also evaluating the market potential. Taiwan sees India as a potential ally against China and having manufacturing capacity and next-gen chip design ability is crucial. The major challenge is the absence of advanced fabrication facilities and expertise in India. Key Points
Economic TimesSamsung to start making laptops in India this year
Samsung plans to start manufacturing laptops at its Noida factory in India this year. The company considers India an important manufacturing base and has received support from the state and central governments. Samsung recently launched the Galaxy S24 series smartphone with a focus on artificial intelligence. The company will also manufacture the Galaxy S24 at its Noida factory. The Noida plant already produces feature phones, smartphones, wearables, and tablets. Key Points
Economic TimesBudget 2024: How extending concessional corporate tax rate can boost for India’s manufacturing ecosystem
Budget 2024: India's manufacturing sector has been a key driver of the economy. The government introduced section 115BAB in the Income-tax Act, offering a reduced tax rate of 15% to newly established domestic manufacturing companies. The sunset date for this incentive has been extended to March 2024, but industry players are calling for a further extension. Key Points
Economic TimesBudget 2024: Exporters body seeks global shipping line, extension of manufacturing sop till 2027
The Federation of Indian Export Organisations (FIEO) has urged the government to develop a global shipping line in partnership with the private sector and provide tax incentives for research and marketing activities in the upcoming Budget. It also suggests extending the sunset date for commencing manufacturing and increasing weighted tax deductions for R&D. Key Points
Economic TimesGrew Energy to set up solar component unit in Gujarat's Dholera for Rs 3,800 cr
Gandhinagar (Gujarat) [India], January 11 (ANI): Grew Energy signed a Memorandum of Understanding worth Rs 3,800 crore at the ongoing Vibrant Gujarat Global Summit in the presence of Chief Minister Bhupendra Patel. The company intends to set up a solar component manufacturing unit at Dholera with a capacity of 2.8 GW, by 2025, it said […] Key Points
ThePrintWhat the surprise manufacturing slowdown means
The HSBC India manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, surprisingly fell to an 18-month low in December. This came at a time when the economic growth has crossed expectations. Mint reviews its possible effect on the economy. Key Points
mintIndia's manufacturing PMI falls to 18-month low in December
According to the HSBC India manufacturing Purchasing Managers' Index (PMI), which is compiled by S&P Global, India's manufacturing PMI fell to 54.9 in December from 56 in November and 55.5 in October. Key Points
mintWith more local value additions, electronics manufacturing sector to be worth $115 bn in 2024
Year 2024 is expected to see robust growth in India's electronics manufacturing sector which is set to grow 15 per cent. According to data shared by the government, domestic electronics manufacturing increased over four-fold to Rs 8.22 lakh crore or USD 102 billion in the last 10 years from Rs 1,80,454 crore (USD 29.8 billion) in FY14. Key Points
Economic TimesRemaking Automaking for the Future
Bespoke personal transportation is within reach. To get there, carmakers will need to change how they design, build and sell cars. Key Points
mint
Indian manufacturing market has the potential to reach US$ 1 trillion by 2025-26
The automotive sector, a keystone of India's manufacturing prowess, has seen prominent interest from global players like Tesla and Ford, depicting intents for establishing or expanding their manufacturing footprints within the country. Electronics manufacturing experienced a rise in investments, particularly in the smartphone production domain. Key Points
Economic TimesIndia's manufacturing sector continues with robust performance in Nov on easing price pressures: Survey
New Delhi, Dec 1 (PTI) India’s manufacturing sector continued with its robust performance in November, mainly on the back of substantial easing in price pressures and strengthening demand from clients, a monthly survey said on Friday. The strong performance of the manufacturing sector is expected to continue in 2024 as well. The seasonally adjusted S&P […] Key Points
ThePrintmanufacturing activity regains momentum, rises to 56 in November
India's manufacturing industry regained momentum in November, thanks to strengthening demand and lower input cost inflation, according to private survey data. The manufacturing Purchasing Managers' Index (PMI) rose to 56, after easing to an eight-month low of 55.5 in October. Key Points
Economic TimesIndia's manufacturing activity ticks higher as input inflation falls to 40-mth low: PMI
India's manufacturing sector experienced a moderate improvement in November, with the S&P manufacturing PMI reaching 56, up from October's eight-month low of 55.5. While domestic demand remained robust, international demand weakened, resulting in new export orders reaching a five-month low. Business sentiment also reflected concerns about potential price increases in the near term. Key Points
Economic TimesIndia’s manufacturing sector activity falls to 8-month low in Oct on softer rise in new orders: PMI
The seasonally adjusted S&P Global India manufacturing Purchasing Manager’s Index (PMI) slipped from 57.5 in September to 55.5 in October, the slowest rate of expansion since February. manufacturing activities in India decelerated in October as new orders increased at the slowest pace in a year, triggering a softer rise in output and employment, a monthly survey said on Wednesday. Key Points
The Tribune India
Valiant Laboratories shares list at 16% premium over issue price
Valiant Labs is an active pharmaceutical ingredient (API/bulk drug manufacturing company, with a focus on producing Paracetamol. APIs serve as raw materials for manufacturing finished dosage forms or formulations. Key Points
Economic Timesmanufacturing activity slows to 57.5 in September; sentiment improves
India's manufacturing activity slowed down in September, with the Purchasing Managers' Index falling to its lowest level in five months. The decline was primarily due to a softer increase in new orders, although export orders remained strong. Despite this, firms in the sector remain optimistic and expect output levels to increase in the next twelve months. Key Points
Economic TimesDell looks to increase investment in Bengaluru R&D centre
Dell, the Texas-based tech company, has expressed its interest in investing more in its research and development centre in Bengaluru, India. Additionally, Global Foundries, a semiconductor manufacturing company, has expressed interest in increasing its workforce in Bengaluru. Prime Minister Narendra Modi has been actively pushing for the development of a robust tech manufacturing sector in India. Key Points
Economic TimesHigh-level USFDA delegation visits Divi's Labs manufacturing facilities in Hyderabad
India Business News: A delegation from the US Food & Drug Administration (FDA), led by Commissioner Dr. Robert M. Califf, visited the manufacturing facilities of Indian ph Key Points
Times Of IndiaBT EXCLUSIVE: Apple, Micron show India's attractiveness as manufacturing destination, says PM Modi
“I want my fellow citizens to have access to facilities as good as those of developed countries. The world is today recognising India’s strength. They are coming here because it is good for their company, their product and their profits,” said PM Modi. Key Points
Business Today
Industrial growth slows to a three-month low of 3.7% in June
“The sequential slowdown was led by the manufacturing sector, while the mining and electricity sectors witnessed an improvement in their growth performance amid deficient rainfall in the month,” said Aditi Nayar, chief economist, Icra. Manufacturing, which has a weight of 77.6% in the Index of Industrial Production, grew at its slowest pace of 3.1% in three months, even as electricity and mining outperformed, showed a government data release on Friday. Key Points
Economic TimesIndustry activity remains strong on new export orders
Manufacturing activity continued its strong momentum in July even as a marginally softer rate of expansion in output and new orders brought down the PMI reading for the month to 57.7 from 57.8 in June. Key Points
Economic TimesRe-auction of PLI for batteries soon
The Indian government will re-auction the performance-linked incentives (PLI) for 20 GW advanced chemistry cell (ACC) battery manufacturing, following the allocation of the capacity to Hyundai Global Motors, which was found to be impersonating Hyundai Motor. Estimated incentives of ₹7,240 crore will be offered under the ₹18,100 crore PLI scheme disbursed over five years. Key Points
Economic TimesUS manufacturing slump deepens, factory gate price pressures subdued
"The ISM survey adds to the evidence that core goods prices will start falling again soon,"said Andrew Hunter, deputy chief U.S. economist at Capital Economics. Key Points
Business TodayJune factory activity eases, but confidence up
The increase in new orders was the fastest since February 2021, owing to favourable demand conditions. The 400 respondents to the survey also indicated that advertising and new product releases were also a factor in rising new orders. The continuing uptick in manufacturing activity also lifted growth prospects. The index has averaged 57.9 in the first quarter of FY24. Key Points
Economic Times
ET MSME Day 2023: How can MSMEs in manufacturing gear up to be future-ready
The role of manufacturing MSMEs, in particular, will prove significant in Indias economic aspirations as a nation. The MSME sector in India employs over 100 million people and accounts for 45% of manufacturing output and over 40% of the countrys exports. Key Points
Economic TimesParry Enterprises ties up with Memsift Innovations to set up membrane unit
Parry Enterprises India Ltd, (PEIL) has entered into a strategic partnership with Singapore-based Memsift Innovations to establish a facility to produce up to 1.2 million square metre of high-quality membranes annually. Key Points
The Hindumanufacturing sector embraces AI; 54% of firms implement Artificial Intelligence: PwC report
India's manufacturing sector is embracing digital transformation with an adoption rate of 54% for analytics and AI. Despite challenges such as supply chain disruption and geopolitical uncertainties, government initiatives such as 'Make in India' have created a favourable environment for the sector. Key Points
mintKarnataka govt. to hand over land to iPhone maker Foxconn by July 1: Minister M.B. Patil
Karnataka Minister M.B. Patil said Foxconn planned to start manufacturing iPhone units by April 2024 at its Devanahalli plant Key Points
The HinduWhy Max Life is overweight on industrial and capital goods stocks? Mihir Vora explains
Max Life Insurance CIO Mihir Vora says that banks and NBFCs are still an attractive investment, while the manufacturing industry is seeing growth boosted by incentives. Though domestic consumption is uncertain, manufacturing presents a silver lining, propelled by private and government development. Plunging TCS of 20% will not significantly affect markets or foreign travel, however, capital goods majors, particularly MNCs, are still recommended as a portfolio strategy. Key Points
Economic Times
Mysuru, Bengaluru tech firms join hands with flying taxi start-up ePlane
ePlane specialises in building compact flying electric taxis and drone systems. Mysuru-based Vinyas will be manufacturing various kinds of drones and UAVs as well as collaborating on marketing and servicing the same. Bengaluru-based Printalytix will be providing mechanical design and manufacturing support for the production of UAVs and electric flying taxis. Key Points
The HinduRich using PMS & AIF for alpha generation, MF for beta allocation: Mrinal Singh
We are long-term bottom-up investors and don't try to take a broad-based market call in the near term. In the words of Benjamin Graham … in the short run the market is a voting machine, but in the long run it is a weighing machine . Key Points
Economic Times'India has not done that yet': Jamshyd Godrej flags the strength of Vietnam, other manufacturing hubs
Godrej & Boyce Chairman Jamshyd Godrej thinks there is a long way to go before India can iron out the challenges before everything else. Here's why. Key Points
Business TodayFoxconn to open manufacturing unit in Telangana: Why it will be beneficial for the state
The Telangana government has confirmed in a statement that Taiwanese electronics manufacturing giant Foxconn will open a manufacturing unit in the state. Here's how the state will benefit from the plant. Key Points
India TodayIndia manufacturing PMI growth in February at slowest pace in 4 months
S&P Global India manufacturing Purchasing Managers’ Index (PMI) was at 55.3 in February, little-changed from 55.4 in January Key Points
mint