Manufacturing
HSBC Reports: Export Orders Drive Manufacturing Growth and Job Creation in India for October
The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index compiled by S&P Global rose from September's eight-month low of 56.5 to 57.5 in October, meaning strong and accelerated improvement in operating conditions.
India's Manufacturing Sector Sees Growth Rebound in October, Reports PMI
Increases recorded in total new orders, international sales in higher-than-previous-level of gains fueled the jump seen as being substantial and an improvement was accelerated in conditions about production.
India's Manufacturing Industry Regains Growth Momentum as Hiring Increases in Services Sector
Employment in the services sector increased more rapidly. The gain in jobs was the largest since April 2005 and the most rapid in 18-and-a-half years. Yet employment continued to grow at a positive rate in the manufacturing sector and allowed the composite payroll counts to continue rising at the sharpest rate since February 2006.
Foxconn's Investments Set to Propel India as a Global Manufacturing Powerhouse: Ashwini Vaishnaw
Taking to social media platform X, Vaishnaw mentioned Foxconn's contribution and said, "As we strive to make Bharat a global manufacturing hub, we feel thankful that Foxconn's Chairman, Young Liu, continues to bring in more and more investment plans."
India's Manufacturing Sector Sees $165 Billion in FDI, Achieving 69% Growth Over a Decade
Replying to a question in the Rajya Sabha, Prasada said that FDI inflows aggregated to $383.5 billion during the last five financial years from 2019-20 to 2023-24, on the back of production-linked incentive, or PLI, schemes.
India's Industrial Production Sees 5.9% Growth in May
The growth drivers at the top in the manufacturing sector during May 2024 were "Manufacture of basic metals" at 7.8 percent, "Manufacture of pharmaceuticals, medicinal chemicals and botanical products" at 7.5 percent, with "Manufacture of electrical equipment" throttling past all of these at 14.7 percent, the official statistics indicate.
Milestone Achieved: Telecom Equipment Manufacturing Surpasses Rs 50,000 Crore Under PLI Initiative
Companies that are beneficiaries under the PLI have seen exponential growth in sales of telecom and networking products by 370 percent in FY2023-24 over the base year FY 2019-20. More importantly, the gap between the concerned imports and exports of telecom has also come down, with total exports of telecom equipment and mobiles crossing Rs 1.49 lakh crore, marginally higher than imports of Rs 1.53 lakh crore in FY 23-24, data from the government showed.
June Sees Surge in India's Manufacturing with Highest Hiring in 19 Years
The consumer goods sector performed very strongly to take the sector into position. Adding to all the good news in this report was the good export growth, with surveyed firms reporting considerable growth in new export orders coming from key economies such as Asia, Australia, Brazil, Canada, Europe, and the US.
India's Manufacturing Sector Set to Surge: Projected $1.66 Trillion Market by FY34, GDP Share to Reach 21%
These projections estimate that the share of manufacturing in GDP increased from 14% in FY 24 to around 21% in FY34. According to DSP Mutual Fund, this increase can be attributed to lowered logistics costs and infrastructure development. On the optimistic side, investments in infrastructure are likely to rise from 33 percent of GDP in FY24 to 36 percent by FY29, which may trigger the broader economic benefits.
April Sees India's Industrial Production Grow by 5%
By sector it has broken down in mining 6.7%, in manufacturing 3.9% and in electricity 10.2% compared to the same month of the previous year. The subsectors of manufacture whose activity increased the most during April 2024 were: 'Elaboration of basic metals' 8.1 percent; 'Manufacture of coke and refined petroleum products' 4.9 percent; and 'Manufacture of motor vehicles, trailers and semi-trailers' 11.4 percent.
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