Page 2 - Manufacturing Sector

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

Stable policies, ease of doing biz to boost manufacturing: Experts

Stable policies and further improvement in the ease of doing business in states will help significantly boost the country's manufacturing sector's growth, according to experts. They also said that sectors like renewable energy, particularly in the solar segment and electronics, hold huge potential to promote domestic manufacturing and create thousands of jobs. The government has already taken a series of steps like rolling out the production-linked incentive scheme (PLI) for 14 sectors, tweaking tariffs and issuance of mandatory quality control orders for different products to support domestic players and increase manufacturing activities, they added. "Stable policies and further promotion of ease of doing business at the state level will help significantly boost the country's manufacturing sector growth," Sujoy Ghosh, vice president and country managing director, First Solar, said. The Make in India initiative provides a window of opportunity for companies looking at alternative .

More people now employed in agri than before Covid, says PLFS data

PLFS data says share of manufacturing up

Mixed outlook: Manufacturing needs diversification and jobs focus

Economic growth at the expense of labour-income share will not be sustainable in the long term in a labour-abundant country

India's manufacturing PMI cools to 8-month low in Sept as output slows

'Mild setback' in manufacturing growth across India, according to HSBC survey

Govt plans to liberalise procurement rules for new, innovative products

Investments under PLI may hit Rs 2 trillion by next year, says Piyush Goyal

Investments in sectors under PLI schemes may hit Rs 2 trn in coming years

The 14 sectors covered under the production linked incentive (PLI) schemes have witnessed investments of Rs 1.46 lakh crore till August and the capital infusion is expected to reach Rs 2 lakh crore in the coming years, the commerce and industry ministry said on Sunday. Commerce and Industry Minister Piyush Goyal has held detailed discussions with companies that are getting fiscal benefits under the schemes to seek inputs and feedback. The minister engaged with 140 companies out of the 1,300 manufacturing units across 14 sectors, which have been the beneficiaries of the scheme. "Overall achievement of PLI schemes was also discussed during the meeting. Actual investment of Rs 1.46 lakh crore has been realised (till August 2024) and is likely to reach Rs 2 lakh crore in the next year or so," the ministry said in a statement. This has resulted in production/sales worth Rs 12.50 lakh crore and employment generation of around 9.5 lakh (direct and indirect), which is expected to reach 12

Carlyle-backed SeQuent, Viyash Life Sciences announce Rs 8,000 crore merger

Rs 8,000 crore merger will create one of the largest animal health companies in India