Indian manufacturing sector has already touched 12-14 per cent growth rate, and the National Manufacturing Policy (NMP) aims to increase the sector's share to 25 per cent of the gross domestic product by 2025, National Manufacturing Competitiveness Council Secretary Ajay Shankar said.
Speaking at the Confederation of Indian Industry's (CII's) Manufacturing Summit 2011 in Mumbai, Mr. Shankar said that India has firms across the spectrums which have proved themselves as globally competitive and serious.
The results of a joint survey, conducted recently by industry body Confederation of Indian Industry (CII) and Ascon, have revealed that a slow down in manufacturing growth in India in the first-half of the current financial year has led to expectations that further moderation was apparently in the offing in the third quarter.
In India the manufacturing activity during the month of May was not in a speed like the previous month as confirmed in a survey on Wednesday. However the output in the entire month was strong. It showed the basic strength in business conditions.
Hindalco Industries, commanding ship of Aditya Birla group plans to begin operations at its greenfield Utkal Alumina project before June 2012.
Observing that one single child’s life is more precious than the entirety of the financial losses that are going to be incurred by the industry, the Supreme Court imposed a ban on Friday that would take immediate effect, upon the manufacturing as well as sale of endosulfan, an extremely controversial yet cheap agrochemical made use of by farmers, until a scientific analysis commissioned proves that it is safe to use it.
Industrial output had rebounded two months ago in March, increasing by 7.3 percent from February’s 3.7 percent headed by a recovery in manufacturing as well as capital goods.
Keeping in mind the record numbers that the tyre manufactures are posting month after month, experts are of a view that the tyre sales in the aftermarket is likely to go up by more than 20% in the coming months.
And rightly so, as the domestic tyre manufacturers had produced close to 971.36 lakh tyres in 2009-10 as against 821.07 lakh tyres in 2008-09 and the number is expected to go up by a whopping margin in the coming times.
After a 15 year high, June witnessed a rebound in manufacturing which in turn slowed down the export order growth. A survey, on Thursday suggested that the sector’s recovery may have peaked.
The sector has dealt with the recession conditions, which directly affected the output, remarkably. While the measures taken to meet demand both at home and abroad are still unknown, the latter half of the year will prove to be the real test to check the sustainability of recovery. The latest surveys showing that conditions may have passed their peak.
UK manufacturing output fell unexpectedly in the month of April, according to the latest data from the Office for National Statistics. The decline in April followed a strong gain in the month of March this year. However, the manufacturing output in the month of April grew comparing to the previous corresponding period.
According to the data from the Office for National Statistics, the manufacturing output was reported down by 0.4% comparing to March. The manufacturing output in April missed the expectations of economists as they were anticipating a rise of 0.5% rise in the month.
The manufacturer of the devices for mass transfer, Sulzer India, has reported that it had gained approval from the board to buy the 20 per cent stake which was remaining in itself. After the announcements, it was noted that the shares of the company soared by a good 20 per cent from its previous rate.