The IHS Markit India Manufacturing PMI rose from 51.2 in November to 52.7 in December. Factories benefited from a rebound in demand, and responded by scaling up production to the greatest extent since May. As per the survey, new work orders witnessed marked improvement, with the pace of expansion picking up to the fastest since July.
India's services sector activity expanded at the strongest pace in ten-and-a-half years in October, driven by a substantial upturn in business activity amid favourable demand conditions, a monthly survey said on Wednesday. Companies indicated that a notable pick-up in new business led to the fastest expansion in output in over a decade and as a result more jobs were created, even though business confidence remained subdued due to growing inflationary concerns. The seasonally adjusted India Services Business Activity Index rose from 55.2 in September to 58.4 in October, signalling the strongest rate of growth in ten-and-a-half years.
The policy aims to create around 5,000 startups, including 10 global high-growth startups, and to create a minimum of 100,000 high skilled job creation, direct and indirect, in the startup ecosystem by 2023.
Johnson's first visit to India as United Kingdom prime minister will begin on April 21 with a trip to Ahmedabad in Gujarat, which is Prime Minister Modi's home state.
Tech giant Microsoft will set up its largest and fourth data centre in India at Hyderabad with an investment outlay of over Rs 15,000 crore over a period of 15 years. "I am very happy to say today that Hyderabad will be the destination for Microsoft's largest Data Centre investment in India with an investment of over Rs 15,000 crore over a period of 15 years. "This will be one of the largest FDIs that Telangana has attracted," Telangana Minister for IT and Industries KT Rama Rao on Monday said at an event marking the announcement of Microsoft's latest data centre region in Hyderabad.
'To set up a successful business, one must have a solution to an existing problem or a better way of addressing the current solution.'
Moody's Investors Service on Thursday upped India growth forecast to (-) 10.6 per cent for the current fiscal, from its earlier estimate of (-) 11.5 per cent, saying the latest stimulus prioritises manufacturing and job creation, and focuses on longer-term growth. Last week the government had announced a new fiscal package amounting to Rs 2.7 lakh crore. Moody's said the latest measures aim to increase the competitiveness of India's manufacturing sector and create jobs, while supporting infrastructure investment, credit availability and stressed sectors.
The negative balance is largely on account of pending material cost for the work done under the programme during the year and even earlier.
The Congress president tagged a Business Standard story which cited a report which said the unemployment rate is highest in 45 years.
This is the 22nd consecutive month that the manufacturing PMI has remained above the 50-point mark.
Jitendra Chouksey from Pune tells Rediff.com's A Ganesh Nadar what he would like to see in Finance Minister Nirmala Sitharaman's Budget.
After navigating the turbulent pandemic waves, the recovering Indian economy is now sailing through unchartered waters of rising coronavirus cases, spiralling commodity prices and spiking inflation though the lighthouse of sustainable growth remains visible. As 2022 begins, a raft of developments, ranging from Budgetary announcements to continuation of stimulus measures to monetary policy, will set the tone for the domestic economy, which is projected to grow more than 9 per cent in the current fiscal ending March 2022. The country's continuing massive vaccination drive and 'precaution' doses starting for select categories of people this month will provide a firewall against any steep spike in coronavirus cases amid the emergence of the Omicron variant.
The Congress on Monday strongly criticised the Union budget, saying Finance Minister Nirmala Sitharaman's speech was oblivious to the declining GDP and the budget was a case of "wrong diagnosis and prescription".
The budget session of the Parliament begins today.
While welcoming Prime Minister Narendra Modi's announcement on Saturday to celebrate January 16 as National Start-up Day, six years after the Start-up India Action Plan was launched by the government, stakeholders in the ecosystem say that more needs to be done at the policy level to unleash the next phase of growth in the sector. "The Start-up India programme's launch in 2016 was a turning point - that is when the promoter came to be known as the founder in the country and the word 'entrepreneur' entered the common lexicon. "But now we need a Start-up India 2.0 now for the next phase of growth of the ecosystem", said Siddarth Pai, managing partner of venture capital (VC) firm 3one4 Capital. Pai says that Startup India 2.0 must look at promoting Startups headquartered in tier II,III & IV cities and solving the problems of Bharat.
In the current year, India's economy will grow to become $ 3 trillion economy, sixth largest in world.
India's macroeconomic situation is certainly better than what it was a year ago, eminent economist Pinaki Chakraborty said on Monday, while expressing hope that the country will be back on the path of economic growth if there is no major third wave of the COVID-19 pandemic. In an interview with PTI, Chakraborty, who is the director of the National Institute of Public Finance and Policy (NIPFP), said that inflation may remain at an elevated level as there was a significant fiscal and monetary expansion in the last 18 months. "The current macroeconomic situation is certainly much better than what it was one year back. We are seeing recovery in most sectors," he said. Chakraborty noted that COVID-19 vaccination has been going on at a very fast rate in India.
Veteran banker K V Kamath on Friday said it is "time to be brave" for the government, and it should stretch the fiscal deficit target set in the budget if need be, to push growth. He said benign interest rates of under 8 per cent and abundant liquidity are also necessary to seize what he called as a 25-year growth runway opportunity awaiting the country. The government has targeted to get the fiscal deficit at 6.8 per cent for FY22 in the Budget presented early this year.
January 2019 saw the maximum number of employment being generated since the data from September 2017, reports Indivjal Dhasmana.
ASK Wealth Advisors says 5 million, CMIE's estimate is 2 million and Ghosh & Ghosh said it was 7 million!
All the populist schemes have either a job creation motive or a health and sanitation one.
Confident of improving the job prospects for rising middle-class in the country, the US has said it will continue to push for stronger job creation as it is poised for self-sustaining, broad-based growth.
The key to job creation is to increase labour participation - draw more people into the labour force and to provide them formal jobs in the organised sectors. Self-employment is not job creation, says, Mahesh Vyas.
Measures to promote ease of doing business, cut in tax rates for smaller enterprises to 25 per cent, and reduction in interest rates are creating the right atmosphere for new businesses to flourish, particularly SMEs.
Addressing a poll rally in Katihar, the former Congress president criticised the NDA government over demonetisation, migrant crisis, GST, handling of the coronavirus pandemic and the three new farm laws.
The NDA govt launched the Mudra scheme to give unsecured loans of up to Rs 10 lakh to small enterprises with the objective to provide self-employment
The improvement in business conditions promoted job creation, while confidence towards the year-ahead outlook for activity was at a four-month high during March.
The headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) fell to a two-year low of 50.6 in October from 51.4 in September.
More people using the internet for financial and e-commerce transactions has led to job creation in a niche segment. Specialists who can help deal with rising technology (tech) frauds are in high demand amid the surge in electronic transactions during the pandemic. Demand for tech fraud experts has risen upwards of 35 per cent, reveals employment and human resource services company TeamLease Services.
It is necessary that at least three million additional jobs (if not more) are created every year to ensure that there isn't an increase in the stock of unemployed, says Mahesh Vyas.
The Survey noted that while women account for almost half of India's population, their participation in labour market is almost one-third and has been declining.
83% of the CEOS plan to hire more in the new year.
The report further revealed that the BPO/call centre industry has dropped down several places, forfeiting its second position on the list to the manufacturing industry, which has shown promising growth.
7 million jobs will be created in formal sector in FY18
S&P Dow Jones Indices on Tuesday said it will remove Adani Ports and Special Economic Zone from its sustainability index following reports of its business ties with Myanmar's military that has been accused of human rights violations after a coup. The Adani Group firm is building a $290 million port in Yangon. In a statement, S&P Dow Jones Indices said: "Adani Ports and Special Economic Zone will be removed from the Dow Jones Sustainability Indices following a media and stakeholder analysis triggered by recent news events pointing to heightened risks to the company regarding their commercial relationship with Myanmar's military, who are alleged to have committed serious human rights abuses under international law."
The government's increased thrust on investment and continued focus on job creation in India gives the sense of an improving job market scenario in the coming months.
The highest number of jobs were created in the age group of 18-21 at 1.29 million, followed by 22-25 years of age at 1.12 million during these seven months.
Tata Steel was the top gainer in the Sensex pack, rallying 5.14 per cent, followed by Bharti Airtel, HDFC, TCS, L&T, SBI and Reliance Industries.
As many as 65 per cent of respondents have positive expectations from the budget and believe that it will succeed in giving a definite push to economic growth and job creation, a survey has said.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances