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New Delhi, <keyword id="9164750" type="General" weightage="20" keywordseo="Manufacturing-activities" source="Orion">Manufacturing activities</keyword> in India touched a three-month high in March boosted by faster expansions in new orders and output amid demand resilience and easing of cost pressures, according to a monthly survey. The seasonally adjusted S&amp;P Global India Manufacturing Purchasing Managers' Index (PMI) rose from 55.3 in February to 56.4 in March, signalling the strongest improvement in operating conditions in 2023 so far. The <keyword id="17021004" type="General" weightage="20" keywordseo="March-PMI-data" source="Orion">March PMI data</keyword> pointed to an improvement in overall operating conditions for the 21st straight month. In PMI parlance, a print above 50 means expansion while a score below 50 indicates contraction. "Underlying demand for Indian goods remained strong in March, underscored by the quickest upturn in factory orders for three months. Hence, production continued to expand at a robust clip and firms stepped up their stock building efforts," said Pollyanna De Lima, Economics Associate Director at S&amp;P Global Market Intelligence. According to the survey, input cost inflation retreated to its second-lowest mark in two-and-a-half years in March as pressure on supply chains subsided and the availability of raw materials improved. Subsequently, goods producers concentrated on rebuilding their stocks. Robust increases in buying levels in recent months supported a near-record accumulation of input inventories in March. On the prices front, close to 96 per cent firms signalled no change in cost burdens since February. "Although selling prices increased further at the end of the last fiscal quarter, the rate of inflation was moderate and broadly similar to February. Several panellists reportedly left their fees unchanged amid efforts to boost sales," Lima said. On the jobs front, goods producers kept payroll numbers broadly unchanged in March, as outstanding business volumes rose at a marginal rate that was the weakest in a year. "Companies reported abundant capacity among themselves and their suppliers. Pending workloads expanded only marginally in March, hindering job creation," Lima said. Going ahead, Indian manufacturers expect improved customer relations, new product releases and advertising to support sales and subsequently production over the course of the coming 12 months. "Although manufacturers were upbeat towards future new orders, they somewhat doubted that inflation would continue to recede. Such worries restricted optimism towards output prospects," Lima said. The Monetary Policy Committee (MPC) of the Reserve Bank will be meeting for three days on April 3, 5 and 6 and on Thursday will come out with the first bi-monthly monetary policy for fiscal 2023-24. The Reserve Bank of India (RBI) has already increased the repo rate by a total of 250 basis points since May in a bid to contain inflation though it has continued to remain above the central bank's comfort zone of 6 per cent for most of the time. The Consumer Price Index (CPI)-based inflation was 6.52 per cent in January and 6.44 per cent in February.

India's manufacturing PMI hits 3-month high in March amid demand resilience

Formerly a labor intensive industry, the global <keyword id="6362048" type="ORGANIZATION" weightage="20" keywordseo="Manufacturing">manufacturing</keyword> sector looks to be heading towards a major facelift. Experts believe we are on the cusp of the fourth industrial revolution – <a href="http://www.mckinsey.com/business-functions/operations/our-insights/manufacturings-next-act">Industry 4.0</a> – where technologies such as big data, improved data analytics, machine-to-machine communication, advanced robotics and 3-D printing are transforming the fundamentals of manufacturing. 
 
Advanced manufacturing economies in Europe are already implementing features such as self-driving logistics vehicles like the <a href="http://www.dhl.com/content/dam/downloads/g0/about_us/logistics_insights/dhl_self_driving_vehicles.pdf">Open Shuttle developed by KNAPP</a> to navigate autonomously within warehouses, picking up cartons and containers and transporting them to specific locations. In Germany, a logistics company uses augmented-reality glasses to see the <a href="http://www.bcg.it/documents/file197250.pdf">exact location of an item on a shelf</a> and to automatically scan bar codes. The glasses also allow employees to view the dispatch information of the item. And in our own Seagate factories, robots are building our disk drives and extremely sophisticated vision systems support our manufacturing processes. 
 These are significant advancements for the <keyword id="176218" type="UNKNOWN" weightage="20" keywordseo="manufacturing-industry">manufacturing industry</keyword>, particularly in Asia where the growth of manufacturing has largely been due to lower labor costs for production in the emerging economies, and almost exclusively focused on export. Today, with growing urbanization and a swelling middle-class with stronger spending capabilities, production in Asia is <a href="http://www.bcg.it/documents/file197250.pdf">shifting towards addressing domestic consumption</a> and infrastructure development. A savvier consumer market is also forcing manufacturers to design and create better designed products with shorter go-to-market times. 
 
Government-led initiatives such as ‘Made in China 2025’ and ‘Make in India’ are driving spend in modern warehouses, improved logistics services and software to integrate the manufacturing and supply chain ecosystem. Industry 4.0 is set to <a href="https://www.atkearney.com/innovation/asean-innovation/asean-digital-revolution/full-report/-/asset_publisher/VHe1Q1yQRpCb/content/the-asean-digital-revolution/10192">transform manufacturing in the ASEAN bloc</a> by bringing operational efficiencies to both traditional manufacturing industries – automotive, electrical and electronics – and high-value product manufacturing such as printed electronics and miniaturization. 
 
These changes herald the arrival of the massive data flows that will be created and the unique IT challenges that this information transfer will bring into the manufacturing environment. 
 
Addressing unique challenges in an evolving landscape 
 
Unlike traditional corporate IT infrastructures, manufacturers require a different sort of IT framework. Their IT environments have to support design teams that are geographically dispersed as well as external suppliers that play a vital role in component and product development. This requires a collaborative system that is accessible without compromising privacy and security. 
 
In addition, manufacturers need a system that is rapidly scalable to make use of the data pouring in from various channels: sensors in their factories, inventories, raw materials and other segments along the supply chain. With increased machine-to-machine communication and robotics entering the manufacturing process, the volume of data being generated, analyzed and accessed by manufacturers and their partners is set to grow significantly. By 2020, the cumulative digital universe of data is set to grow tenfold to <a href="http://www.forbes.com/sites/bernardmarr/2015/09/30/big-data-20-mind-boggling-facts-everyone-must-read/#7881fb0b6c1d">44 zettabytes</a>, from 4.4 zettabytes in 2015. 
 
The solution to these new challenges is cloud computing. Cloud computing is multifunctional and provides immense computing power, storage and analytical tools in a scalable environment. The benefits not only include more efficient operations but also improved customization. Customer expectations for product design, quality and availability are high and with an increasingly fad-driven culture, product life cycles are also shortening. Brands that can customize products and bring them to market quickly stand to gain better profit margins. Consequently, on the operational front, real-time access to transmitted component or product status information allows manufacturers to improve on product quality issues or defects quickly and effectively. 
 
A strategic pursuit of productivity and business agility 
 
At the heart of cloud computing architectures are universal building blocks of IT, such as networking, processing, and storage technologies, all of which are required to optimize performance and leverage the growth in capacity. Cloud environments typically exploit different storage technology tiers to meet different service level objectives (SLOs) and services level agreements (SLAs). A key benefit of using cloud computing services is the removed hassle of having to decide what type of physical storage drives to buy. Cloud computing service providers cater for this by providing various availabilities, costs, capacities, functionalities, and performance options that meet different SLA and SLO requirements. 
 
According to IDC, adoption of the public cloud is <a href="http://siliconangle.com/blog/2015/04/15/idc-cloud-adoption-accelerates-in-manufacturing-industry/">most popular amongst manufacturers in Asia</a>. The main reason for this is that public clouds allow remote manufacturing facilities to leverage modern IT and communications systems without having a large team onsite. However, this view may change in the future as the manufacturing sector in the region continues to adapt to the Industry 4.0 transformation. Sensitive data, services, and applications are best stored and implemented on a private cloud. By contrast, services available to customers and partners across the supply chain are best served by the public cloud. In the long term, manufacturers are likely to deploy hybrid clouds that effectively marry community cloud services while protecting their intellectual property. 
 
The onward march towards Industry 4.0 in Asia is a time for manufacturing companies to reevaluate their IT strategies for the future. Done right, manufacturers have an opportunity to embrace new technological platforms and applications to move beyond mass production and open up entirely new business models. 
 
 This article was written by B.S. Teh, senior vice-president for Global Sales, <keyword id="182693" type="COMPANY" weightage="20" keywordseo="Seagate-Technology">Seagate Technology</keyword>

Exploring the new face of manufacturing – Industry 4.0

Today, Finance Minister, Arun Jaitley announced Union Budget for FY 2017-18 and there was almost nothing to further boost India as a manufacturing sector. 
 
He started his speech by quoting, “According to the IMF, India is expected to be one of the fastest growing economies of 2017. India has become the sixth largest manufacturing country in the world. Favourable price developments reflect prudent macroeconomic management. Current Account Deficit has gone down to 0.3 per cent of the GDP. Foreign Direct Investment has increased to Rs. 1.45 lakh crore.” 
 
Here’s what the Union Budget added to the manufacturing sector

FM
disappoints manufacturers in India, neglects the manufacturing growth in the
country

<ul class="summary-list"><li>A closely watched gauge of <keyword id="113056" type="PERSON" weightage="60" keywordseo="US-manufacturing">US manufacturing</keyword> improved for the third month straight in July while still grappling with weak employment activity.</li><li>The Institute for Supply Management's purchasing managers' index climbed to 54.2 last month from 52.6, marking the industry's fastest rate of growth since March 2019.</li><li>Its employment gauge gained to 44.3 from 42.1, remaining well below the threshold of 50 that indicates whether a sector is growing or shrinking.</li><li>"This does not mean the recovery in the <keyword id="6362048" type="UNKNOWN" weightage="60" keywordseo="manufacturing">manufacturing</keyword> sector is complete," Ian Shepherdson, chief economist at Pantheon Macroeconomics, said, adding that weak business investment means a full manufacturing recovery "is a long way off."</li></ul>A popular metric for US manufacturing activity posted its third-straight month of growth in July as the industry continued to climb out of its virus-prompted slump.The <a href="https://www.prnewswire.com/news-releases/pmi-at-54-2-july-2020-manufacturing-ism-report-on-business-301104442.html">Institute for Supply Management's</a> purchasing managers' index improved to 54.2 from 52.6, marking the <keyword id="176218" type="ORGANIZATION" weightage="60" keywordseo="manufacturing-industry">manufacturing industry</keyword>'s fastest rate of expansion since March 2019. The organization's gauge of new orders improved 5.1 points to 61.5, and its Production Index gained to 62.1 from 57.3.Readings above 50 indicate industry growth, while those falling below the threshold signal contraction. <keyword id="90179" type="ORGANIZATION" weightage="60" keywordseo="ISM">ISM</keyword>'s employment metric remained deep in contractionary territory, climbing to 44.3 last month from 42.1. Read more: <a href="https://www.businessinsider.com/stock-market-crash-80-percent-drop-10000-gold-david-hunter-2020-8">'The stock market can drop as much as 80%': A 47-year market vet explains why we're in the midst of a global bust — and makes a case for $10,000 gold</a>The report signals continued recovery among manufacturers even as coronavirus cases skyrocketed throughout the US. Still, the uptrend's pace faces new downside risks as Congress stalls in passing new stimulus and fresh outbreaks threaten to reinstate lockdowns."This does not mean the recovery in the manufacturing sector is complete," Ian Shepherdson, chief economist at Pantheon Macroeconomics, said in a note. "The extreme weakness of business capital spending means that a full recovery in manufacturing is a long way off."Of the 18 manufacturing industries tracked by the institute, 13 reported growth. The three industries contracting over the month were transportation equipment, machinery, and fabricated metal products.Separately, a PMI from data firm IHS Markit swung above 50 for the first time since February to reach 50.9 from June's 49.8 reading. The company's employment index also failed to reach growth territory, landing just below the threshold as its pace of improvement slowed.Read more: <a href="https://www.businessinsider.com/next-stock-market-crash-risks-after-coronavirus-vaccine-discovered-socgen-2020-7">A Wall Street quant chief breaks down why a COVID-19 vaccine is not the silver bullet investors have been hoping for — and warns another stock-market meltdown is likely</a>

US manufacturing grows at its fastest rate in 17 months, Institute for Supply Management says

The health of the <a href="http://www.businessinsider.in/How-Make-in-India-has-improved-India-as-a-global-leader-inthe-manufacturing-sector/articleshow/56660559.cms">Indian manufacturing</a> sector has for quite some time been of extraordinary concern to the government. The expansive decline in manufacturing work since the start of the 21st century has stimulated specific authoritative interest. Throughout the years, Members have acquainted several bills expected with support <a href="http://www.businessinsider.in/Can-India-surpass-China-Japan-Germany-as-the-next-manufacturing-hotspot/articleshow/56623882.cms">domestic manufacturing</a> activity in different ways. The defenders of such measures much of the time contend that India is somehow falling behind different nations in manufacturing.

These amazing facts
about India’s manufacturing sector show India could soon beat the US, but is
still far away from catching up to China

As economic activities gain momentum, <keyword id="2385401" type="General" weightage="20" keywordseo="industry-players" source="Orion">industry players</keyword> are turning optimistic about the performance of the <keyword id="6395867" type="General" weightage="20" keywordseo="manufacturing-sector" source="Orion">manufacturing sector</keyword>. The <keyword id="12077865" type="General" weightage="20" keywordseo="FICCI-Manufacturing-Survey" source="Orion">FICCI Manufacturing Survey</keyword> for July-September showed that after experiencing subdued Q1 (April-June 2021-22), the <keyword id="23268" type="General" weightage="20" keywordseo="Outlook" source="Orion">outlook</keyword> seems to have improved significantly in Q2. The percentage of respondents reporting higher production in second quarter of 2021-22 was much above the 50 per cent mark -- around 61 per cent. This was significantly higher than the similar percentage of last year's Q2 quarter (around 24 per cent). A <keyword id="6355001" type="General" weightage="20" keywordseo="FICCI" source="Orion">FICCI</keyword> statement also said that the assessment is also reflective in order books as 72 per cent of the respondents in July-September 2021-22 expected a higher number of orders in comparison to April-June 2021-22. However, the survey revealed that a high percentage of respondents are experiencing rising costs of doing business and production. The cost of production as a percentage of sales for manufacturers in the survey has increased for 80 per cent respondents in Q1 2021-22. This is considerably higher than that reported in Q4 2020-21, where 72 per cent respondents recorded an increase in their production costs. "Industry respondents have attributed the hike in productions costs primarily to high fixed costs, higher overhead costs for ensuring safety protocols, drastic reduction in volumes due to lockdown, lower capacity utilisation, high freight charges and other logistic costs, increased cost of raw materials, power cost and high interest rates," the statement said. The latest quarterly survey assessed the sentiments of manufacturers for Q2 (July-September 2021-22) for eleven major sectors namely automotive, capital goods, cement and ceramics, chemicals, fertilizers and pharmaceuticals, electronics and electricals, metal and metal products, paper products, textiles, textiles machinery, toys and miscellaneous. Responses have been drawn from over 300 manufacturing units from both large and SME segments with a combined annual turnover of over 2.7 lakh crore. The survey showed that the overall capacity utilisation in manufacturing was 72 per cent in Q2 2021-22, which again reflects signs of recovery in manufacturing. The future investment outlook, however, remains that of cautious optimism, as 32 per cent respondents reported plans for capacity additions for the next six months. It also noted that the cost of doing business remains a cause for concern for the sector. High raw material prices, high cost of finance, uncertainty of demand, shortage of skilled labour and working capital, high logistics cost, low domestic and global demand, excess capacities due to high volume of cheap imports into India, unstable market, high power tariff, are some of the major constraints which are affecting expansion plans of the respondents, it said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/motorcycle-engine-vibrations-can-degrade-iphone-camera-performance/articleshow/86134711.cms">Motorcycle engine vibrations can 'degrade' iPhone camera performance</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/perseverances-rock-sample-to-give-insight-into-mars-history/articleshow/86136571.cms">NASA Perseverance's rock sample to give insight into Mars' history</a>

Outlook for manufacturing sector improves in second quarter, high cost of production causing worry, says FICCI survey

<ul class="summary-list"><li>Worker shortages at US manufacturers risk costing $1 trillion in output by 2030, a new study said.</li><li>A multigenerational shift away from trade schools and <keyword id="6362048" type="UNKNOWN" weightage="60" keywordseo="manufacturing">manufacturing</keyword> jobs is coming back to bite the sector.</li><li>Training programs and more diverse hiring pools can make up for the millions of jobs at risk of going unfilled.</li></ul>US manufacturers face a two-pronged employment problem.In the near term, factories are having a hard time hiring just as the <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword> reopens. The shortage is exacerbating order backlogs and getting in the way of the sector's otherwise stellar expansion.Yet returning to a pre-pandemic state won't be enough for the country's producers. Skill gaps and a dwindling talent pool present lasting dangers for the <keyword id="176218" type="ORGANIZATION" weightage="60" keywordseo="manufacturing-industry">manufacturing industry</keyword>. An inability to address those issues could leave as many as 2.1 million jobs unfilled and cost the US $1 trillion in economic output by 2030, according to a new study from <keyword id="6358918" type="UNKNOWN" weightage="60" keywordseo="deloitte">Deloitte</keyword> and <keyword id="11201496" type="UNKNOWN" weightage="60" keywordseo="the-manufacturing-institute">the Manufacturing Institute</keyword>.The problem is a fairly simple one. A multigenerational emphasis on pursuing prestigious degrees at top universities left fewer Americans attending trade schools and entering the manufacturing sector. That's now left Americans with little desire to even look into such jobs right as the industry faces a dire worker crisis."There's a perception problem ... People don't know that there are jobs that are desirable, that there are jobs that have family-supporting wages, and that there are jobs that are stable," <keyword id="11201497" type="UNKNOWN" weightage="60" keywordseo="carolyn-lee">Carolyn Lee</keyword>, executive director of The Manufacturing Institute, told Insider. "There are jobs open today that are accessible to you with as much as a week-long certification."The solution, however, is far more complicated. For one, the industry still needs to recoup jobs lost to the pandemic, and the rate of recovery isn't all that promising. Manufacturers are still down some 570,000 jobs from pre-pandemic levels despite a near record number of openings. Firms surveyed in the study said finding the right talent is 36% harder now than it was in 2018. And 77% of respondents said they will still have difficulties in finding and retaining workers in 2021 and beyond.Much of the strain stems from the diversity of industry jobs and their respective skill requirements, according to the study. There isn't a one-size-fits-all fix for all manufacturers, Lee said. Hiring criterion can vary widely between two different auto manufacturers, let alone entirely different sectors. Availability of certain workers in different locales complicates the search even further, <keyword id="11201495" type="UNKNOWN" weightage="60" keywordseo="paul-wellener">Paul Wellener</keyword>, vice chairman and US industrial products and construction leader at Deloitte, said."We've got to do a much better job as a country to drive programs to connect the dots between the demand in the region and the types of people that are available in the region," he added.The long-term fix could come with an increasing focus on diversity, as manufacturing is predominantly staffed by white men, and the industry simply can't fill its job openings without attracting more women and underrepresented minorities, Wellener said.The uneven nature of the <keyword id="409455" type="PERSON" weightage="60" keywordseo="labor-market">labor market</keyword>'s recovery has left women, low-income groups, and racial minorities lagging behind wealthier white Americans. Economists have also warned that the post-pandemic workforce will look drastically different to that seen in 2019. Manufacturing will be "at the forefront" of rebuilding the economy, and pointing people displaced by the pandemic to those jobs is key to moving the industry forward, Wellener said."People just don't instinctually know that we're here," The Manufacturing Institute's Lee added. "We've got to go out and sell not just what we're making, but why these careers are valuable."

The US economy could leave $1 trillion on the table this decade because of a manufacturing worker shortage, study finds

<ul><li><keyword id="19894961" type="General" weightage="20" keywordseo="Apple" source="keywords">Apple</keyword> will reportedly make <keyword id="20656465" type="General" weightage="20" keywordseo="iPhone-16-Pro" source="keywords">iPhone 16 Pro</keyword> models in India this year.</li><li>Foxconn is expected to make the iPhone 16 Pro models at its facility in Sriperumbudur.</li><li>The iPhone 16 Pro models will reportedly be imported in the first few weeks.</li></ul> In a boost to Apple’s iPhone production in India, the Cupertino tech giant is set to manufacture the flagship models in its upcoming iPhone 16 lineup soon after its launch. Last year, Apple produced the<a href="https://www.businessinsider.in/tech/mobile/news/iphone-15-iphone-15-plus-with-usb-type-c-port-improved-cameras-launched-starting-at-799/articleshow/103615581.cms"> iPhone 15</a> in India and this was available from day one. Soon after this, the iPhone 15 Plus was produced in India by Pegatron. The<a href="https://www.businessinsider.in/tech/mobile/news/iphone-15-pro-pro-max-can-record-3d-videos-that-can-be-viewed-on-vision-pro-in-a-magical-way/articleshow/103616220.cms"> iPhone 15 Pro and iPhone 15 Pro Max</a> were imported in the country. According to a<a href="https://www.moneycontrol.com/technology/apple-to-make-iphone-16-pro-and-pro-max-models-in-india-this-year-sources-article-12779508.html"> report</a> by Moneycontrol, the iPhone 16 Pro models will also be produced in India this year. The iPhone 16 Pro models will reportedly be assembled by Apple’s partner Foxconn at its facility in Sriperumbudur, Tamil Nadu as part of the company’s plan to diversify production from China. "Every year, Apple seeks to deepen its manufacturing capabilities with partners in India. Production of Pro models is something that has been under consideration for the last couple of years. This year, Apple will manufacture the Pro and Pro Max models in India to make sure the India-assembled iPhone 16 Pro models are available in the country after the launch,” the report said, citing a source familiar with the matter. <h2>Initial devices to be imported</h2>As the iPhone 16 Pro models will be produced sometime after its launch, the initial devices will be imported, and this will cost Apple less this year as the Indian government has reduced the<a href="https://www.businessinsider.in/budget/news/budget-2024-customs-duty-on-mobile-phones-chargers-and-more-reduced/articleshow/111962490.cms"> basic customs duty (BCD)</a> on mobile phones as part of Budget 2024-25. The iPhone 16 is set to be made available on the first day of sales in India and it will be shortly followed by iPhone 16 Plus. <h2>Apple’s sales in India to grow by over 20% this year</h2>According to industry estimates, iPhone shipments are projected to increase by over 20% this year on the back of domestic manufacturing support and strong distribution. Apple saw robust sales of around $8 billion in the country in FY24, an increase of around 33% year-on-year. Apple shipped over 10 million iPhones in 2023 in India, up from 6 million in 2022. The company recorded a 6% market share in the Indian smartphone market in 2023. Experts have said that there is a definitive trend of Apple attracting many first-time users for its newly launched iPhones in India, alongside the strong sales of previous-generation devices. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/pixel-9-series-design-and-specs-revealed-ahead-of-launch-next-month/articleshow/112039063.cms">Pixel 9 series design and specs revealed ahead of launch next month</a> <a href="https://www.businessinsider.in/budget/news/budget-2024-customs-duty-on-mobile-phones-chargers-and-more-reduced/articleshow/111962490.cms">Budget 2024 – Customs duty on mobile phones, chargers and more reduced</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-4-with-metal-back-snapdragon-7-gen-3-launched-in-india-starting-at-32999/articleshow/111787031.cms">OnePlus Nord 4 with metal back, Snapdragon 7+ Gen 3 launched in India starting at ₹29,999</a>

Apple to manufacture iPhone 16 Pro models in India soon after launch

Amid difficult economic climate, <a href="http://www.businessinsider.in/searchresult.cms?query=Indian+manufacturing+">India’s manufacturing sector</a> output slipped to a seven-month low of 51.2 in September, down from 52.3 in August. 
 
A Nikkei survey stated that the order flow turned sluggish in its Nikkei India Manufacturing <a href="http://www.businessinsider.in/Indian-PMI-Is-Exactly-As-Ugly-As-You-Would-Expect/articleshow/22223997.cms">PMI</a>, a composite monthly indicator of manufacturing performance. 
 
"Despite having been supported by sustained increases in new work, growth of Indian manufacturing production in September was weighed down by a difficult economic climate," Pollyanna De Lima, Economist at Markit and author of the report, said. 
 Lima added that as per PMI data, the <keyword id="6395867" type="UNKNOWN" weightage="20" keywordseo="manufacturing-sector">manufacturing sector</keyword> looks set to provide a stronger contribution to <a href="http://www.businessinsider.in/searchresult.cms?query=GDP">GDP</a> than it did in the April-June quarter. 
 
PMI was weighed down over slower increases in new orders and output. 
 
"Slower increases in new business inflows have hindered firms' ability to recruit. The sector's labour market was squeezed in September as companies attempted to minimize operating costs," Lima said. 
 
Moreover, the report added that input costs eased for the second consecutive month and Indian manufacturers passed lower input costs on to clients. 
 
Meanwhile, <a href="http://www.businessinsider.in/searchresult.cms?query=rbi+governor+raghuram+rajan">RBI Governor Raghuram Rajan</a> announced a <a href="http://www.businessinsider.in/searchresult.cms?query=repo+rate">repo rate</a> cut of 50 basis points to boost the economy. 
 
The central bank also lowered its economic growth forecast for the current fiscal from 7.6% to 7.4%.

Here comes India’s manufacturing output data and the news is not good

Sales of telecom equipment have surpassed the Rs 50,000 crore milestone under the Production Linked Incentive (PLI) scheme. According to a press release by the Ministry of Communication, this accomplishment reflects the success of governmental efforts to bolster <keyword id="20053977" type="General" weightage="20" keywordseo="domestic-manufacturing" source="keywords">domestic manufacturing</keyword> and reduce import dependence, aligned with Prime Minister Narendra Modi's vision of 'Atmanirbhar Bharat'. Within three years of its inception, the Telecom <keyword id="19981334" type="General" weightage="20" keywordseo="PLI-scheme" source="keywords">PLI scheme</keyword> has attracted an investment of Rs 3,400 crore, surpassing the Rs 50,000 crore milestone in telecom equipment production, with exports reaching approximately Rs 10,500 crore. This achievement has resulted in the creation of more than 17,800 direct jobs and numerous indirect employment opportunities, underscoring the robust growth and competitiveness of <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s telecom manufacturing sector. Government initiatives aimed at promoting local production and reducing import dependency have played a pivotal role in this success, aiming to bolster domestic manufacturing capabilities and position India as a global hub for telecom equipment production, read the press release. The Production Linked Incentive Scheme for Large Scale Electronic Manufacturing of Electronics, encompassing mobile phone and component manufacturing, has significantly boosted both production and export figures. From producing 5.8 crore mobile phones and importing 21 crore units in 2014-15, India manufactured 33 crore phones domestically in 2023-24, with only 0.3 crore units imported and nearly 5 crore units exported. The value of mobile phone exports surged from Rs 1,556 crore in 2014-15 to Rs 1,28,982 crore in 2023-24, highlighting substantial growth and reduced import reliance. India, historically a net importer of telecom gear, has seen a transformative shift due to initiatives like <keyword id="20262813" type="General" weightage="20" keywordseo="Make-in-India" source="keywords">Make-in-India</keyword> and the PLI scheme, resulting in domestic equipment production valued at over Rs 50,000 crore, read the press release. The <keyword id="22354280" type="General" weightage="20" keywordseo="telecom-equipment-manufacturing" source="keywords">telecom equipment manufacturing</keyword> sector has shown exceptional growth under the PLI scheme, with total sales exceeding Rs 50,000 crore, marking a 370 per cent increase compared to the base year of FY 2019-20. Generating over 17,800 direct jobs and additional roles across the manufacturing value chain, fostering economic growth and development. Encouraging local production, the scheme has reduced India's reliance on imported telecom equipment by 60 per cent, enhancing national security and self-reliance in critical technologies. Indian manufacturers are now competing globally, offering high-quality products at competitive prices, particularly in advanced telecom technologies like 5G. Under the stewardship of the Department of Telecommunications (DoT) and Ministry of Electronics and Information Technology (MeitY), initiatives like the PLI Scheme for Telecom and Networking Products have significantly narrowed the gap between telecom imports and exports, read the press release. In FY 2023-24, exports of telecom equipment and mobiles combined totaled over Rs 1.49 lakh crore, slightly below imports valued at Rs 1.53 lakh crore, reflecting India's growing export prowess in the sector. Minister of Communications and Electronics, Ashwini Vaishnaw, posted on X, "The reality of mobile phone, electronics and telecom product manufacturing is known to all except those who don't like our country's progress. In 2014-15, India produced only 5.8 Crore mobile phones and imported about 21 Crore mobile phones. In 2023-24, Bharat produced 33 Crore phones and exported close to 5 Crore mobile phones. Telecom equipment manufacturing was a dream for India. PLI enabled telecom manufacturing. In 2023-24, telecom equipment production topped benchmark of Rs. 45,000 Crore. Exports crossed Rs. 10,500 Crore. Guess who else, apart from Congress, doesn't like our country emerging as a manufacturer of mobile phones and telecom equipment?" Over the past five years, the trade deficit in telecom products has decreased from Rs 68,000 crore to Rs 4,000 crore, demonstrating the PLI schemes' success in enhancing India's global competitiveness and attracting investments in cutting-edge technologies. 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India's telecom equipment manufacturing sales cross ₹50,000 crore under PLI scheme

<ul class="summary-list"><li>The UK produced only 197 <keyword id="20632" type="ORGANIZATION" weightage="60" keywordseo="Cars">cars</keyword> in April, 99.7% lower than its output in April 2019, with production almost entirely stopped by <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword>, the Society of Motor Manufacturers and Traders said on Friday. </li><li>In the same month last year, the UK made over 70,000 cars.</li><li>Year-to-date production also fell 27.6% compared to 2019, to 319,449 units.</li><li>The SMMT expects less than 1 million cars to be produced by year-end compared to its January pre-crisis outlook.</li><li>Despite the return of workers to factories, the SMMT is predicting a £12.5 billion ($15.4 billion) loss to the industry.</li><li>Car makers in the UK have now made over 700,000 pieces of PPE since COVID-19, the society said.</li></ul>The UK produced only 197 cars this April, fall of almost 100% since April last year, in the latest sign that coronavirus has ravaged various manufacturing industries. UK's motor trade association, The Society of Motor Manufacturers and Traders (SMMT) said on Friday: "British car production falls -99.7% in April with 197 units made as coronavirus pandemic closes factories."Read more: <a href="https://www.businessinsider.com/real-estate-investment-strategy-for-passive-income-turnkey-providers-2020-5">A part-time real-estate investor quit his traditional job 5 years after snagging his first deal. He shares his no-hassle strategy that's allowed him to travel the world with his 6 kids.</a>The figure is a tiny fraction of the output produced in April 2019 at 70,971."As the coronavirus crisis forced plants to close, just 197 premium, luxury and sports cars left factory gates in the month, models that had been assembled prior to shutdowns with only finishing touches needed," SMMT said. Year-to-date production was also down 27.6% at 319,449 units, compared to 2019.<h2>Outlook is also gloomy </h2>The SMMT is also bracing for annual UK car production to be below 1 million units in 2020, which if it comes true would be lower volumes than in the depths of the great recession in 2009, and a third lower than expected compared to January pre-crisis levels. While the UK's 168,000 automative manufacturing employees are starting to return to work, the SMMT cautioned that factories resuming operations at different time scales and ongoing social distancing measures could still lead to a loss of 400,000 units by year end compared to the January outlook.This could generate a loss of £12.5 billion ($15.4 billion) to the automotive industry, the SMMT said.<h2>Car-makers focus on PPE equipment instead </h2>The fall in the number of cars produced is partly driven by the fact many manufactures refocused efforts on producing personal protective equipment (PPE), including visors, medical gowns and face shields to use for healthcare professionals instead of making cars.The SMMT said car makers have now made 711,495 pieces of PPE along with medical equipment including high-tech ventilators as part of the Ventilator Challenge UK Consortium.A number of automakers in Europe halted productions in March due to coronavirus shutdowns. <a href="https://www.businessinsider.com/rolls-royce-motor-cars-suspend-production-in-uk-over-coronavirus-2020-3">Rolls Royce shut production</a> at its British plant for two weeks in March to help protect workers.SMMT chief executive, Mike Hawes said: "With the UK's car plants mothballed in April, these figures aren't surprising but they do highlight the tremendous challenge the industry faces, with revenues effectively slashed to zero last month."Read more: <a href="https://www.businessinsider.com/8-global-stock-picks-recommendations-post-coronavirus-landscape-david-herro-2020-5">David Herro was the world's best international stock picker for a decade straight. He breaks down 8 stocks he bet on after the coronavirus decimated markets — and 3 he sold.</a>He added: "Manufacturers are starting to emerge from prolonged shutdown into a very uncertain world and ramping up production will be a gradual process, so we need government to work with us to accelerate this fundamentally strong sector's recovery, stimulate investment and safeguard jobs."Earlier this month, the <a href="https://www.businessinsider.com/rolls-royce-motor-cars-suspend-production-in-uk-over-coronavirus-2020-3">SMMT claimed that just 4,321 cars were registered in April</a>, which is the lowest monthly figure since 1946. In April 2019 161,064 cars were sold.In the US, <a href="https://www.businessinsider.com/us-car-factories-are-restarting-after-the-coronavirus-shutdown-2020-5">General Motors, Ford, and Fiat Chrysler Automobiles restarted factories</a> almost a fortnight ago after a complete North American shutdown in March to fight the coronavirus pandemic.Read the original article on <a href="https://www.businessinsider.com/uk-car-industry-made-197-cars-april-fall-99-percent-2020-5">Business Insider</a>

The UK made just 197 cars last month, a drop of 99.7% as coronavirus tanks factory output

<ul class="summary-list"><li>The <a href="https://www.instituteforsupplymanagement.org/ISMReport/MfgROB.cfm?SSO=1">Institute for Supply Management's</a> <keyword id="791811" type="PERSON" weightage="60" keywordseo="manufacturing-index">manufacturing index</keyword> climbed back to growth territory in June as states reopened their economies.</li><li>The key industry gauge leaped 9.5 points to 52.6 last month, notching its biggest single-month increase since 1980. Economists surveyed by <a href="https://www.bloomberg.com/news/articles/2020-07-01/u-s-manufacturing-gauge-rises-to-14-month-high-on-reopenings?srnd=markets-vp">Bloomberg</a> expected a reading of 49.8.</li><li>New orders and production both breached the key threshold of 50, while industry employment landed at 42.1 after a 10 percentage point improvement.</li><li>Despite the strong improvement, US manufacturing is positioned to "face major challenges" from weak demand, lasting supply chain disruptions, and rebounding virus cases, Gregory Daco, chief US economist at Oxford Economics, said.</li></ul>A key measure of US manufacturing leaped back into growth territory in June as factories reopened and state economies turned back online.The <a href="https://www.instituteforsupplymanagement.org/ISMReport/MfgROB.cfm?SSO=1">Institute for Supply Management's</a> manufacturing index surged 9.5 points to 52.6 last month, its biggest increase since 1980. June's increase brings the metric to a 14-month high and pushes it above the key threshold of 50 for the first time since February.Economists surveyed by Bloomberg expected the gauge to reach 49.8 last month. Readings above 50 indicate the industry is expanding, while a reading below the level indicates broad shrinkage.Read more: <a href="https://www.businessinsider.com/how-to-buy-tech-etfs-ark-invest-cathie-wood-interview-2020-6">Cathie Wood's firm built 3 of the world's best ETFs, which all doubled in value within 3 years. She told us her 3-part process for spotting underappreciated technologies before they explode.</a><keyword id="90179" type="ORGANIZATION" weightage="60" keywordseo="ISM">ISM</keyword>'s measure for new orders improved 24.6 percentage points to 56.4, and its production gauge climbed 24.1 percentage points to 57.3. Employment remained in contractionary territory, landing at 42.1 in June after reading 32.1 the month prior.In all, 13 of the 18 manufacturing sectors reported growth in June. The four industries declining through the month were transportation equipment, primary metals, fabricated metal products, and machinery.Yet the report doesn't place the <keyword id="176218" type="ORGANIZATION" weightage="60" keywordseo="manufacturing-industry">manufacturing industry</keyword> in the clear. The return to growth follows three months of deep contraction and arrives as the US faces new risks. Spiking coronavirus case counts threaten to shut down factories all over again, and lasting pandemic fallout will likely drag on the industry's rebound. "Activity likely bottomed in Q2, however manufacturing will face major challenges that will drag on its recovery," Gregory Daco, chief US economist at Oxford Economics, said. "Looking ahead, weak demand, lingering supply chain disruptions, somewhat tighter financial conditions, historically low oil prices, and highly elevated uncertainty are poised to make for a lackluster recovery."Read more: <a href="https://www.businessinsider.com/stock-market-picks-outlook-recommendations-top-ranked-sector-analysts-2020-6">Stock analysts are having a moment in the sun as the market gets flipped upside down. We spoke to 11 of the top-ranked on Wall Street to get their forecasts and single-stock picks.</a>

Top US manufacturing index jumped the most since 1980 in June as reopenings spurred growth

<ul><li>The global $450 billion <keyword id="145965" type="TECHNOLOGY" weightage="20" keywordseo="semiconductors">semiconductors</keyword> industry got blindsided — due to the global pandemic — after a massive demand for semiconductors.</li><li>The crunch led to supply chain issues as the industry relied on a few giant players.</li><li>Ford, Nissan, Volkswagen, Fiat Chrysler and Toyota were some of the top automakers that curtailed production amid a global semiconductor shortage.</li><li>Operations of mobile manufacturers Lava and Micromax were almost stuttered to a halt after its <keyword id="423461" type="PERSON" weightage="20" keywordseo="chipset">chipset</keyword> supplier, MediaTek, ran out of stock.</li></ul>A few months back, when the companies worldwide started recovering from the pandemic-hit lows, they had no idea that another challenge was waiting for them. From electronic appliance makers to car manufacturers and mobile makers — all had to hold back the production after the $450 billion industry for semiconductors got ravaged by the after effects of the Covid-19 pandemic. A massive surge in demand for consumer electronics, globally, due to work from home practices adopted by firms and a sharp uptick in personal vehicle sales amid the virus fear caused the crisis. The semiconductors form the DNA of a wide variety of new-age gadgets like smartphones, computers, industrial equipment and cars. They are also sought for emerging markets of AI, computing and advanced wireless networks. <cmsannotation type="cmsannotation" annotationid="Manufacturers had to shut production plants" comment="subhead" text="Manufacturers had to shut production plants">Manufacturers had to shut production plants</cmsannotation> This could not have come at a worse time for the beleaguered businesses — which just began to show the signs of recovery, and the sales were beginning to rebound after a torrid first half. In December, India's largest automotive components maker Robert Bosch was grappled with challenges<a href="https://www.bloombergquint.com/business/bosch-india-flags-severe-shortage-of-critical-components-to-indian-automakers"> after a severe shortage</a> of imported components, hampering its ability to cater to the automotive market demand in the fifth largest automobile market worldwide. Just days after Bosch, One of India's largest automakers Mahindra &amp; Mahindra, <a href="https://qz.com/india/1959077/ford-india-mahindra-mahindra-hit-by-semiconductor-shortage/">said </a>it was bracing itself after the recent disruption caused by the industry's semiconductors shortage. "Operations of the company in the automotive sector will be affected by global supply shortage of micro-processors (semiconductors) used in electronic control units (ECUs) which are supplied by Bosch," automaker Mahindra said in a <a href="https://qz.com/india/1959077/ford-india-mahindra-mahindra-hit-by-semiconductor-shortage/">statement</a>. Ford, Nissan, Volkswagen, Fiat Chrysler and Toyota were some of the top automakers that curtailed production amid a global semiconductor shortage. The shortage impacted production in other industries too, such as smartphones and electronics. Operations at mobile manufacturer Lava and Micromax were almost stuttered to a halt<a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/mediatek-to-resolve-chipset-shortage-in-india-says-chairman/articleshow/79672229.cms?from=mdr"> after its chipset supplier MediaTek </a>ran out of stock. The chip shortages also forced Apple to push back the rollout of its latest lineup of iPhones until early November. <cmsannotation type="cmsannotation" annotationid="What are semiconductors, and why did companies run out of them in 2020?" comment="subhead" text="What are semiconductors, and why did companies run out of them in 2020?">What are semiconductors, and why did companies run out of them in 2020?</cmsannotation> Semiconductors are typically silicon chips that perform control and memory functions in products ranging from computers and cellphones to vehicles and microwave ovens. The world saw an unprecedented demand for servers, internet connectivity and cloud usage as online collaboration grew massively during work from home. And according to the EY report, the semiconductors industry was already facing a demand-supply crisis and the delay in imports from China after the Indo-China clash at the Galwan Valley added fuel to the fire. The OEM’s faced <a href="https://www.thehindu.com/business/Economy/ladakh-face-off-industry-flags-delay-in-china-imports/article31918011.ece">massive supply chain issues</a> after the government implemented curbs on imports from china. The industry also relied on a few global players — which led to the crisis after a huge demand surge. China and Taiwan own a significant portion of the semiconductor manufacturing market in the world. “Semiconductor manufacturing is a complex global intertwined ecosystem, which has led to a supply chain that is vulnerable to macroeconomics, geopolitics and natural disasters,” the report added. The auto industry is using more semiconductors than ever before in new vehicles with electronic features such as Bluetooth connectivity and driver-assist, navigation and hybrid-electric systems. According to data research firm International Data Corporation (IDC) forecasts that globally, the mobile phone semiconductor revenues will grow by 11.4% in 2021 to $128 billion. Here’s how the demand for semiconductor stacks up around industries in India <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Demand Share </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Value </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Communication </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$136 billion </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Computer </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28.50% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$117 billion </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.30% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$54.7 billion </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Automotive </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.20% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$50.2 billion </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Industrial </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.90% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$48.9 billion </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Government </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.30% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5.2 billion </td></tr></tbody></table>Source: Semiconductor Industry Association, 2020 <cmsannotation type="cmsannotation" annotationid="Can you set up a chipset business in India?" comment="subhead" text="Can you set up a chipset business in India?">Can you set up a chipset business in India?</cmsannotation> The EY report highlighted that the semiconductor manufacturing process requires unique and sometimes scarce raw materials and chemical substances. Due to their unique and specialised character, these tend not to be widely available and can sometimes only be mined in conflict areas. The scarcity of semiconductors in the past few months brutally exposed India's original equipment manufacturers' soft underbelly — their heavy reliance on imported components. The government has also introduced an ambitious production-linked incentive (PLI) schemes to encourage in-house production. The most important here is semiconductors or chips that form the central component of items from auto to laptops and mobile phones — as the current disruptions showed, it is an area where we can ill-afford to depend on others. <div type="image" title="Capture" msid="81137751" hostid="261"></div> Although the country has developed expertise in chip designing, it still lacks fabrication facilities, requiring huge investments. Microprocessor chips are produced in high technology facilities called semiconductor fabrication units or simply FAB units. India currently has a limited number of fabless startups and companies with state-of-the-art R&amp;D centres focusing on chip design. <a href="https://www.deccanherald.com/business/is-semiconductor-manufacturing-in-india-an-unworkable-project-863338.html">Reports</a> indicate that semiconductor fabs have investments starting around $8 billion, and the numbers climb rapidly. The business also requires hefty running costs, and technology needs to be upgraded typically every 3-4 years. This wouldn’t be the first time India would try to build semiconductors fabrication units. Earlier in 2006, a <a href="https://www.business-standard.com/article/companies/semindia-infosys-may-sign-mous-with-andhra-today-106021601088_1.html">Bangalore-based SemIndia signed a contract </a>with the Andhra Pradesh government to set up a wafer manufacturing unit. For which, it was allocated 1,200 acres of land, but the $3 billion project could not take off. The government suffered a loss of ₹300 crore. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/nurecas-100-crore-ipo-heres-how-to-check-share-allotment-status/articleshow/81135236.cms" data-type="tilCustomLink">Nureca’s ₹100 crore IPO: Here’s how to check share allotment status</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/defense/news/india-signs-usd-50-million-defence-loc-agreement-to-boost-maritime-capabilities-of-maldives/articleshow/81135673.cms">India signs USD 50 million defence LoC agreement to boost maritime capabilities of Maldives</a>

You Searched For "Manufacturing" and got 13 results

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