The company had announced similar pricing for Sri Lanka, where its application was in advanced stages of regulatory clearance.
Manufacturing activities in India accelerated further and touched a four-month high in April, boosted by robust new business growth, mild price pressures, better international sales, and improving supply-chain conditions, a monthly survey said on Monday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) increased from 56.4 in March to 57.2 in April, indicating the fastest improvement in the health of the sector so far this year. The March PMI data pointed to an improvement in overall operating conditions for the 22nd straight month.
The performance of Hindustan Aeronautics Limited (HAL) for 2024-25 (FY25) was driven by improved margins and lower provisions. The order book as of March was of Rs 1.8 trillion, with inflows of Rs 1 trillion during FY25.
'My advice: Don't mark your portfolio to market every day. Focus on survival.'
The most striking features of this Budget was its focus on simplification and improving the ease of doing business in India, asserts Kaku Nakhate.
Chinese manufacturing prowess and its dominance in the strategic sector will have a bearing on India's growth projection in the medium term and its march to become a developed nation by 2047, the Economic Survey said on Friday. The Survey has said India needs to grow at 8 per cent for about two decades to become a developed nation by 2047, but it will have to face challenges from global developments and reliance on Chinese imports.
Driven by a surge in manufacturing sector, the Index of Industrial Production is estimated to grow at 7.5 per cent in the current fiscal, according to Centre for Monitoring Indian Economy.
Anticipating US action on tariffs, India seems to have made the first move by revamping its tariff structure by reducing the slabs to eight rates, points out Mukesh Butani.
'Three manufacturing sectors can create jobs by the million: Apparel, food, and electronic assembly.' 'Let's talk to them and ask them what it would take to scale by a factor of ten,' suggests Naushad Forbes.
For the year 2009-10, industrial output grew by 10.4 per cent, up from 2.8 per cent in the previous financial year.
Apprentices get at an average of Rs 10,000 to Rs 12,000 per month which can double after one year of on-the-job training.
India on Monday imposed a 12 per cent provisional safeguard duty for 200 days on five steel product categories, including hot rolled coils, sheets and plates, to protect domestic players from surge in imports. The decision follows a recommendation for the same by the Commerce Ministry's investigation arm DGTR. Last month, the DGTR suggested to impose the duty.
Ficci has demanded cuts in excise duties and interest rates to lift the manufacturing sector. It also calls for appropriate raw material policies.
Capital goods output rose by a robust 20 per cent in the month under review as against a contraction of 2.4 per cent earlier.
Prime Minister Narendra Modi on Friday said the world has seen the power of India's indigenous weapons during Operation Sindoor, which is 'not over yet'.
At a time when the government is nudging the private sector to ramp up its capital expenditure (capex), the Ministry of Statistics and Programme Implementation (MoSPI) is poised to kick-start the first-of-its-kind annual survey on the status of private sector capex from next month. "The inaugural edition of the annual exercise will start in October and will be completed by December. "The results will be made public by February next year," said Geeta Singh Rathore, director general, National Sample Survey Office (NSSO), at a data users' conference on Thursday.
Various industry bodies have sought immediate government intervention through the imposition of anti-dumping duties, claiming India has seen a surge in imports of Chinese goods over the past two weeks.
Ficci has suggested formulation of a 'manufacturing policy'. Such a policy will spell out guidelines for attaining a 12% growth of the sector annually. Guidelines will help in terms of incentives and subsidies; technology development; development of sustainable raw material base; regulatory and procedural reforms to the manufacturing sector. The manufacturing sector's profitability has been badly affected in the last few months & the government needs to intervene immediately.
In terms of industries, 16 out of 23 industry groups in the manufacturing sector have shown positive growth during December 2017 as compared to the same month year ago.
India stares at the risk of an influx of Chinese products as US tariffs on a range of Chinese goods, including solar panels, electric vehicles, lithium-ion batteries, syringes, and steel, are set to take effect from September 27. With higher tariffs reducing China's access to the US market, there is concern that China may divert its exports to other markets, including India, which could lead to potential dumping of goods. This situation could challenge Indian industries, particularly in sectors where competition with Chinese products is already fierce.
Apple Inc's iPhones assembled in India achieved market revenues of Rs 162,000 crore. Tata Steel's revenue for the same period was Rs 162,324 crore.
The heightened global uncertainty due to the US "reciprocal tariffs" on India may cause near-term corrections and market turbulence, but the long-term outlook remains constructive, market experts said on Thursday. The US has announced 27 per cent reciprocal tariffs on India, citing high import duties imposed by New Delhi on American goods.
'That refresh programme -- because they are big aircraft and we cannot ground them all at the same time -- will last well into 2027.'
Currently in its advanced development phase, the team is focusing on refining the robot's ability to understand and execute operator commands.
The weakening of inflation, prospects of economic growth, geopolitical uncertainty and comfortable system liquidity may result in the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) to cut the repo rate by another 25 basis points, opine top economists. They also said the external economic pressures like trade policies and others would require continued RBI's accommodative stance and policy support for the Indian industry to sustain the growth.
The commerce ministry is working on different scenarios to assess the possible fallout of reciprocal tariffs to be imposed by the US administration on April 2 on its key trading partners including India, sources said. US President Donald Trump has said that April 2 will be 'Liberation Day' as he plans to announce tariffs or import duties to bring down America's trade deficit, and promote the country's manufacturing.
Fada estimates that global supply chain headwinds like scarce availability of rare earth elements for electric vehicle components and geopolitical tensions may affect urban consumer sentiment in June as well.
Concerned over declining performance of the manufacturing sector, Finance Minister P Chidambaram on Friday said quick decisions were needed to remove bottlenecks hampering investments.
Manufacturing activities in India advanced further and touched a 31-month high in May supported by stronger increase in new orders and favourable market conditions, which in turn generated more employment opportunities, a monthly survey said on Thursday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose from 57.2 in April to 58.7 in May, indicating the strongest improvement in the health of the sector since October 2020. The May PMI data pointed to an improvement in overall operating conditions for the 23rd straight month.
Passenger vehicle wholesales in India rose 11 per cent year-on-year in February, as sports utility vehicles continued to steer demand in the market, industry body SIAM said on Tuesday. The total passenger vehicle dispatches to dealers last month stood at 370,786 units, as compared to 334,790 units in the year-ago period.
Manufacturing sector, which constitutes over 77 per cent of the index, showed a decline of 0.4 per cent in June as compared to a growth of 7.5 per cent in the same month last year.
Finance Minister Nirmala Sitharaman on Saturday announced the removal of import duties on 12 critical minerals, lithium-ion batteries scrap, cobalt products, LED, zinc and 36 drugs for cancer and rare diseases.
'It won't be a V-shaped recovery. It'll be consolidation.' 'Investors might exit during that grind. It'll be painful.'
The party pledges to raise share in GDP to 20 per cent if voted to power; promises I-T relief to middle class; job for one member of each family.
Trump may temper his approach from time to time, but to think that he will change his basic philosophy is delusional, asserts T T Ram Mohan.
Buoyant manufacturing sector has pushed up industrial growth to 13.6 per cent in the first month of the current financial year against 9.9 per cent in April.
Some major contracts coming up for renewal include TCS' deals with Star Alliance, a consortium of airlines based in Germany, and Nielsen; Infosys' deals with GE Appliances and Daimler; HCLTech's with UK-based life insurer Chesnara; Wipro's with German electric utility company E.ON and Petrobras of Brazil; and Tech Mahindra's with Circle Health.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
Reserve Bank of India (RBI) Governor Sanjay Malhotra said the repo rate cut in the February meeting of the monetary policy committee (MPC) was due to inflation aligning with the target and recognising the fact that monetary policy is forward-looking.
Asset management companies launched 239 new fund offerings (NFOs) mobilising Rs 1.18 lakh crore in 2024, with sectoral or thematic equity funds emerging as the top choice of investors, according to a report by Germinate Investor Services Research. This was higher than 212 NFOs collecting Rs 63,854 crore in 2023 and 228 NFOs garnering Rs 62,187 crore in 2022.
