Manufacturing Sector News - Latest Updates & Headlines
PLI schemes clock Rs 1.61 lakh crore in investment, generate 11.5 lakh jobs
New Delhi, March 22: The production-linked incentive (PLI) schemes have clocked Rs 1.61 lakh crore in investment, Rs 14 lakh crore in production and Rs 5.31 lakh crore in exports while creating 11.5 lakh jobs, the government said on Saturday.
India's Index of industrial production records growth of 5.0 pc in January
New Delhi, March 12: India's Index of Industrial Production (IIP), a measure of industrial output, recorded a growth of 5.0 per cent compared to the same month last year, as per the quick estimates released by the Ministry of Statistics and Programme Implementation on Wednesday.
India's manufacturing growth slows but stays strong in Feb: Report
New Delhi, March 3: The Indian manufacturing sector's strong start to 2025 continued in February. Despite slowing to the weakest since December 2023, rates of expansion in output, employment and sales remained elevated in the context of the long-run average, according to the HSBC survey released on Monday.
India's manufacturing PMI at 56.3 in Feb, declined from January but above 50-mark
New Delhi, March 3: India's manufacturing sector continued to expand in February, although at a slower pace compared to January, according to the HSBC India Manufacturing Purchasing Managers' Index (PMI) released by S&P Global.
Manufacturing and services sectors set to boost GVA output as profitability improves in Q3FY25: ICICI Bank report
New Delhi, March 2: The Gross Value Added (GVA) output--a measure of the total value created by the businesses--across the manufacturing and services sectors will maintain its momentum, following the notable improvement in profitability observed in the third quarter of the Financial Year 2025 (Q3FY25), according to a report by ICICI Bank.
India's private sector companies post higher profits, lower debt: RBI
New Delhi, Feb 25: The operating profit margin as well as net profit margin of private sector corporates in India improved across major sectors during 2023-24 while their debt burden declined during the year, reflecting the growing financial strength, according to the latest data compiled by the RBI.
Salaries in India to increase by 9.2 pc in 2025, manufacturing and GCCs lead
New Delhi, Feb 19: Salaries in India are projected to rise by 9.2 per cent in 2025, and manufacturing sector and global capability centres (GCCs) are likely to have the highest pay increases, according to a new report on Wednesday.
Announced in July 2024 Budget, FM Sitharaman launches Mutual Credit Guarantee Scheme for MSMEs
Mumbai, February 17: Finance Minister Nirmala Sitharaman on Monday launched the Mutual Credit Guarantee Scheme for MSMEs (MCGS - MSME) for facilitating loans upto Rs.100 crore to Micro, Small and Medium Enterprisess for the purchase of machinery or equipment without collateral.
Industrial production registered 3.2 per cent growth in Dec 2024: Data
New Delhi, Feb 12: India's industrial growth, based on the Index of Industrial Production (IIP), was recorded at 3.2 per cent in December 2024, according to the data released by the Ministry of Statistics on Wednesday.
India's total trade to reach USD 1.8 trillion by 2033, growing at 6.4% CAGR: Report
New Delhi, February 9: India's total trade is expected to grow at a compound annual growth rate (CAGR) of 6.4 per cent through 2033, reaching USD 1.8 trillion annually, according to a BCG report.
30-40% MSMEs planning to increase their workforce in next quarter: SIDBI outlook
New Delhi, February 5: Micro, Small, and Medium Enterprises (MSME) across manufacturing, trading and services (other than trading) sectors noted an uptick in their business performance in the October-December 2024 quarter, as per a survey by Small Industries Development Bank of India (SIDBI). The Employment scenario was broadly steady in the December 2024 quarter with majority of respondents' employee strength remaining unchanged.
Bengal industrialists hail Union Budget proposals for 2025-26
Kolkata, Feb 1: The Union Budget proposals for the financial year 2025-26 might not have satisfied the ruling Trinamool Congress in West Bengal but they have received accolades from the state's industry and business fraternity.
Budget 2025-26: FM Sitharaman proposes key measures to boost exports
New Delhi, Feb 1: In a bid to further push exports amid geo-political uncertainties, Finance Minister Nirmala Sitharaman on Saturday announced the setting up of an Export Promotion Mission, with sectoral and ministerial targets, driven jointly by the Ministries of Commerce, MSME, and Finance.
Manufacturing sector calls for pro-local manufacturing policies, GST reductions, and tax reforms ahead of Union Budget 2025-26
New Delhi, January 27: Days ahead of the Union Budget 2025-26 on February 1, the industry players in the manufacturing sector have called for favourable policies boosting local manufacturing, reducing GST on consumer durables, and tax reforms to increase disposable incomes and stimulate consumer spending.
India records 39 per cent surge in investments to Rs 32 lakh crore in 9 months of FY 25
New Delhi, Jan 24: India has recorded a robust 39 per cent surge to Rs 32 lakh crore in domestic investments announced by public and private sector companies during the first nine months (April-Dec) of the current financial year (FY25), compared to the corresponding figure of Rs 23 lakh crore for the same period of the previous financial year, according to data compiled by the State Bank of India (SBI).
Domestic investment announcements cross Rs 37 Lakh Crore in last two years: SBI Report
New Delhi, January 23: Domestic investment announcements in India have seen a remarkable surge, crossing Rs 37 lakh crore in the last two fiscal years (FY23 and FY24), according to a report by the State Bank of India (SBI).
Centre disbursed Rs 964 crore to electronics sector under PLI scheme in H1 of 2024-25
New Delhi, Jan 22: The Centre disbursed close to Rs 1,600 crore under the Production-Linked Incentive (PLI) scheme in the first half of 2024-25 with the large-scale electronics manufacturing sector getting the biggest chunk of Rs 964 crore, a senior official confirmed on Wednesday.
India's WPI inflation edges up to 2.37 pc in December
New Delhi, Jan 14: The annual rate of inflation based on the all-India Wholesale Price Index (WPI) edged up to 2.37 per cent for the month of December, compared to the same month of the previous year, according to figures released by the Commerce and Industry Ministry on Tuesday.
Higher govt spending, robust investment to boost IIP growth in H2 FY25: Economists
New Delhi, Jan 10: Given the expectation of higher government spending followed by improvement in investment in the second half (H2), the Index of Industrial Production (IIP) growth is likely to be higher in H2 FY25, economists said on Friday.
India's industrial growth accelerates to 6-month high in November
New Delhi, Jan 10: India’s industrial growth, reflected in the Index of Industrial Production (IIP), accelerated to a 6-month high of 5.2 per cent in November, up from 3.5 per cent in October of the current financial year (2024-25), according to data released by the Ministry of Statistics on Friday.
Germany's recovery dims amid industrial order decline
Berlin, Jan 9: Germany's industrial sector experienced a sharp decline in incoming orders in November 2024, falling by 5.4 per cent compared to the previous month, official data revealed.
SBI downgrades India's GDP growth forecast to 6.3% for FY25 after NSO estimate of 6.4%
Mumbai, January 8: The State Bank of India (SBI) has revised its forecast for India's GDP growth in FY25 to 6.3 per cent, slightly lower than the National Statistical Office's (NSO) estimate of 6.4 per cent.
HD Kumaraswamy to launch 'PLI scheme 1.1' for steel industry on January 6
New Delhi, January 5: Union Minister of Steel and Heavy Industries HD Kumaraswamy will launch 'PLI scheme 1.1' for the steel industry, the Ministry of Steel said in a release on Sunday. Applications for the scheme will be invited during an event scheduled at Hall No. 1, Vigyan Bhavan, Maulana Azad Road, New Delhi, on January 6, 2025, the release added.