Page 2 - Manufacturing Sector

Indian manufacturing ends strong 2024 with a soft note, Dec PMI at 56.4

According to the HSBC Final India Manufacturing PMI, compiled by S&P Global, this was the joint weakest growth rate of 2024

NITI Aayog urges reforms to ease worker housing near industrial hubs

To truly unleash the potential of India's manufacturing sector, there is a need to think of dense, large-scale housing for workers as infrastructure

Lower-paid workers at higher risk of severe injury in auto sector: Report

The report, Crushed 2024, is the sixth annual study on the state of worker safety in the Indian auto sector

NITI Aayog pushes for funding to build quarters for workers near factories

The programme is likely to be undertaken by providing VGF to private developers to keep dormitory rentals in check and reduce commuting costs and safety concerns for workers in industrial hubs

Manufacturing's Renaissance: Gearing up for New Highs

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Manufacturing firms see decline in operating profit for second qtr in a row

The operating profit for manufacturing firms is down 18.4% year-on-year, according to CMIE

Stymied by fierce competition, manufacturing PMI slips to 56.5 in Nov

The rate of expansion is second-weakest in 11 months, the figure stood at 56.5 in January

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

Premium focus, margin rise to drive profits for appliance maker Crompton

Channel expansion initiatives and new launches aided the growth in mixers and grinders which are part of the small domestic appliances segment

Lubrizol, Polyhose sign MoU to set up medical tubing unit near Chennai

Production is expected to commence in 2026, and will make tubing that can be used in highly specialised devices such as balloon and minimally-invasive-procedure catheters

Reimagining agriculture's role in economic development and growth

An agriculture worker in China generates merely one-fourth of the income generated by a non-agricultural worker. India and Vietnam are close to China while Indonesia shows lower disparity

Novo Nordisk expects high demand for obesity drugs in India: Country head

The company is still 'evaluating' the price of the drug, but is confident that the price-sensitive Indian population will be able to afford it, Novo's India Managing Director Vikrant Shrotriya said

Managerial roles waning in formal manufacturing sector, shows ASI data

Experts attribute the changing nature of the manufacturing workforce to the adoption of automation in various administrative job roles and increasing contractualisation by producers

41% workers on contract in formal manufacturing sector in FY23: ASI data

Contract workers are employed by an industrial establishment through contractual agreements for a specified period or task

Six industries contribute over 50% of formal sector manufacturing GVA: NSO

According to NSO data, this highlights the skewed nature of productivity

Tata Group plans to generate 500,000 jobs in 5 years: N Chandrasekaran

He mentioned that the country has growth momentum and per capita incomes are rising

India second highest target for ransomware attacks in Asia Pacific: Report

Global ransomware attacks have risen by 18 per cent, with India's top three targets being the manufacturing, telecommunications, and technology sectors

Tata to create 500,000 manufacturing jobs in 5 years: N Chandrasekaran

India's manufacturing sector saw a 7.4 per cent rise in employment, with 1.3 million new jobs created in FY23

Statsguru: Formal manufacturing share falls, wage growth lags productivity

ASI and Annual Survey of Unincorporated Enterprises show that the combined share of manufacturing GVA in GDP stands at less than 10 per cent

India's manufacturing under-performance Part 2: New clue from multi-plants

In multi-plant units, flexibility in hiring & firing labour comes from fact of having many plants. In single plants, there is no such flexibility, which renders use of contract labour more important