"India's steel demand growth pace will slow because of weak auto and manufacturing demand... India's demand growth, remains strongest in Asia even as growth pace slows," the US-based agency said in its outlook report titled 'Asia: Steel - 2020 outlook'. The country's steel output will increase on higher capacity utilisation as demand grows.
According to the survey, growth of manufacturing activity in November was supported by the launch of new products and better demand, though restrained by competitive pressures and unstable market conditions.
The production of passenger vehicles was down 117,383 units from 148,318 in October last year, while Van produced slipped nearly by half from 13,817 in October 2018 to 7,661 last month
The PMI data for October showed a continuation of manufacturing sector weakness in India, "with sales growth softening to the slowest in two years", said Pollyanna De Lima, Principal Economist at IHS Markit.
The IHS Markit India Manufacturing Purchasing Managers' Index (PMI), fell to 51.4 in August, its lowest mark since May 2018, from 52.5 in July, as most survey indicators fell since July to signal a widespread loss of momentum. This is the 25th consecutive month that the manufacturing PMI has remained above the 50-point mark. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.
Prime Minister Narendra Modi met Union Finance Minister Nirmala Sitharaman today amid reports of a slowdown in various sectors. PM Modi is likely to announce a series of measures to infuse more energy in the economy, news agency IANS reports.
On the employment front, goods producers created jobs in November. Though the increase in employment softened slightly since October, but was among the fastest seen in six years, the survey noted.
The Nikkei India Manufacturing Purchasing Managers' Index (PMI), a composite indicator of manufacturing performance came in at 52.1 from 52.4 in January 2018.
Days after Apple began the manufacturing of iPhone SE in Bengaluru providing a major impetus to the government’s ‘Make In India’ campaign, India has now offered Apple Inc. tax-free import of components needed for local manufacturing, reports Reuters.
Apple is expected to start “trial assembly” of iPhones in India next month in the industrial unit of Peenya, Bengaluru, without waiting for the government to decide on its requests for certain concessions.
Ignoring India's growing competitiveness in the manufacturing sector could have dangerous consequences for China, a state-run Chinese daily said today
Wholesale inflation broke the 3-month declining trend and rose to 3.39 per cent in December 2016, mainly due to rise in prices of manufactured items, even as food articles turned cheaper. The wholesale price
In line with Modi government's efforts to move towards a cashless economy, the Centre is planning to make it mandatory for payments to be made only through cheque or directly into the bank accounts of
A new report by United Nations has said that India is on the path of becoming a “pivot” for for high-tech world manufacturing even as global manufacturing growth is expected to remain low in 2016
New Delhi: In an attempt to make India a manufacturing hub for US-based electric car major Tesla, Union Minister Nitin Gadkari offered the firm a joint venture with Indian Automobile Sector for Electric Vehicles.
New Delhi: Manufacturing output grew at its slowest place in five months in May on rise in input costs and contraction in demand from abroad, a monthly data showed today adding to the clamour for
In order to create jobs on a large scale, India should emerge as an attractive destination for big manufacturing firms that are moving out of China because of rising wages and demographic transition, NITI Aayog Vice Chairman Arvind Panagariya said.
New Delhi: Government is planning to create coastal economic zones along the country's 7,500-km long coastline covering many states, ports and special economic zones having uniform policy to further boost manufacturing."There is a thinking in
Beijing: In the second such instance within a week, trading on the Shanghai and Shenzhen bourses was halted after shares plunged over 7 per cent within the first 30 minutes of trading, triggering the circuit
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