Manufacturing Growth

November PMI at 56.5 as India's manufacturing growth shows signs of strain

HSBC final India Manufacturing PMI for November matches September's eight-month low of 56.5

2nd time in 20 yrs: Manufacturing jobs pull ahead of growth, shows ASI data

Capital intensity adds horsepower to the sector in latest ASI data

German business sentiment unexpectedly darkens in June: Ifo Institute

The Ifo institute said its business climate index declined to 88.6 in June from 89.3 in May, compared with a reading of 89.7 forecast by analysts

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

China's factory activity slows for 5th month as weak demand hampers growth

A gauge of non-manufacturing activity rose to 51.4, versus an estimate of 50.7, helped by a pickup in travel and tourism during a recent long holiday

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

Global factory check-up about to reveal extent of nascent recovery

A recent uptick in a global index of manufacturing - to the highest level since mid-2022 - has spurred expectations the sector has reached a turning point

India's high-tech manufacturing goal, a long road with 1.39% global revenue

The distance India has to cover can be seen from the fact that China contributed 8.3 per cent of the top 20 manufacturing companies' global revenue at $279.4 billion

Primary steel industry to face challenges in H2 amid weak market: ICRA

The primary steel industry is likely to experience a challenging environment during the second half of FY24 amid increased input cost and weakening steel prices, according to Icra. The domestic hot rolled coil (HRC) prices have corrected by 6.7 per cent since early October 2023, while the rebar prices witnessed a fall of 4.7 per cent in the same period, the ratings agency said. The overall industry's operating profit margins in H2 FY2024 are expected to be lower compared to H1 FY2024, largely driven by weaker profitability from the blast furnace operators, Icra said in its latest report. It further said it "expects the operating environment of the domestic steel industry to get more challenging in the second half of the current fiscal as elevated raw material costs and weakening steel prices nibble at profit margins." While seaborne coking coal prices have been volatile since Q2 FY2024, thermal coal prices have remained more range-bound. Coupled with the higher resilience of long

Simple authorisation process likely for imports of IT products from Nov 1

The government is likely to put in place a simple import authorisation procedure and not a licensing process for inbound shipments of laptops, tablets and computers from November 1, according to sources. However, they said the commerce ministry is awaiting a final word on the issue from the Ministry of Electronics and Information Technology (MeitY). The government in August imposed import restrictions on laptops and computers (including tablet computers) with a view to boost domestic manufacturing and cut imports from countries like China. As per the notification of the Directorate General of Foreign Trade (DGFT), the restrictions will come into force from November 1. While the IT hardware product industry comes under MeitY, the DGFT notifies decisions with regard to import/export of a product. Following this notification, IT hardware industry had flagged concerns. "It will be more in the nature of an import management system where people will be issued an authorisation. It will

Govt to hold off on introducing PLI schemes, evaluates existing initiatives

Launched three years ago with an allocation of Rs 1.97 lakh crore, the PLI scheme aimed to boost domestic manufacturing and draw investments

AMSL to defence equipment manufacturing facility in Telangaga at Rs 150 cr

Apollo Micro Systems Ltd (AMSL) is planning to set up a defence equipment manufacturing facility in Telangana at an investment of Rs 150 crore. The proposed facility will come up on an area of 3 lakh sq ft at its facility in Hyderabad, AMSL said in a statement on Monday. "Apollo Micro Systems Ltd proposes to set up a state-of-the-art defence equipment manufacturing facility in Hardware Park, Hyderabad. The company has estimated total investment in the upcoming ventures to be around Rs 150 crore," it said. The company said it is planning to complete the project in nine months. The company recently incorporated a wholly owned subsidiary -- Apollo Defence Industries Private Ltd -- to take forward its plans of manufacturing defence equipment. This subsidiary will focus on forming alliances and technological partnerships with international companies to provide cutting-edge defence solutions and serve the nation, the statement said. Baddam Karunakar Reddy, Founder and Managing Director

Casio to start local manufacturing of watches in India by the end of 2023

Leading Japanese consumer electronics maker Casio would start local manufacturing of watches by the end of this year in India, which is a priority market for the company, a top company official said on Wednesday. The company is working with a local partner here, where quality evaluation is going on and expects to launch its first Made-in-India range of watches by the end of this year, said Casio India, Managing Director Hideki Imai. "We expect this to happen before the end of this year," Imai told PTI. Casio is encouraged by its sales in India in the last financial year that ended on March 31, 2023, recording a high double-digit growth in revenue numbers and the highest operating profit. "We are prioritising the Indian market, which has the highest growth potential. India has the highest number of youth, below 35 years and we have recognised that fact. We are optimistic about growing the business here in India," said Imai adding the parent company expects the India unit to deliver

Top Headlines: Manufacturing firms shine, defence exports treble, and more

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Manufacturing sector companies outperform on the bourses in 2022

But it remains a laggard on the bourses over the past decade

Work out strategies to draw global manufacturers to India: FM to industry

Finance Minister Nirmala Sitharaman on Friday asked Indian industry to work out strategies as to how businesses operating in developed countries can look at India as a production or sourcing hub amid recession fears in the western countries. India has brought in a lot of facilitation and tweaking of rules to attract foreign investment into India and is also engaging with industries who want to co-locate in the country, the minister said. "As much you are preparing yourself for a long-drawn recession in the Western world, in the Developed world, I think it is also the best time for you to work out strategies for drawing those manufacturers from there to India. "Even as they are headquartered there, it might be useful for them to think of sourcing many things from here and producing from here at least for markets in this part of the globe," Sitharaman said at an event here. She said the suspected long-drawn recession, which is likely to affect Europe, is not just going to affect expo

Rural distress harming MSMEs, pulling down manufacturing: Economists

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

Manufacturing picked up in Sept qtr, may sustain for 6-9 mths: FICCI study

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

Syngene International's net profit rises 53% to Rs 102 crore in Q2

Syngene International on Wednesday reported a 53 per cent rise in consolidated net profit at Rs 102 crore in the second quarter ended September 2022 on the back of higher revenue. The company, which is an integrated research, development and manufacturing services firm, had posted a consolidated net profit of Rs 66.7 crore in the same period last fiscal, it said in a regulatory filing. Consolidated revenue from operations during the period under review stood at Rs 768.1 crore as against Rs 610.2 crore in the year-ago quarter, it added. "The quarter saw positive performances across all divisions. Our research divisions -- discovery services, including Synvent, our integrated drug discovery platform, and the dedicated centres showed sustained growth. Discovery chemistry in particular saw buoyant customer demand," Syngene International Ltd Managing Director and CEO Jonathan Hunt said. Growth in development services was led by existing clients renewing contracts and setting up ...

India's retail inflation dips below 7% in July; IIP growth in double digits

RBI, in its latest monetary policy committee meeting had raised the rates by 50bps to 5.4 per cent, higher than the pre-pandemic level.