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<keyword id="19934680" type="General" weightage="100" keywordseo="Amul" source="keywords" meta.keywordsubtype="org" meta.entityname="Amul" meta.hostid="261" meta.entityid="Amul">Amul</keyword>, India's iconic <keyword id="23447066" type="General" weightage="20" keywordseo="dairy-cooperative" source="keywords">dairy cooperative</keyword>, is looking forward to enter the <keyword id="20845418" type="General" weightage="20" keywordseo="European-market" source="keywords">European market</keyword> after the successful launch of its milk in the US, according to <keyword id="20457579" type="General" weightage="20" keywordseo="Jayen-Mehta" source="keywords">Jayen Mehta</keyword>, Managing Director of Amul and the <keyword id="22666811" type="General" weightage="20" keywordseo="Gujarat-Co-operative-Milk-Marketing-Federation" source="keywords">Gujarat Co-operative Milk Marketing Federation</keyword> Ltd (GCMMF). As per a PTI report, Mehta made the announcement while delivering the 11th <keyword id="23447068" type="General" weightage="20" keywordseo="Dr-Verghese-Kurien" source="keywords">Dr. Verghese Kurien</keyword> Memorial Oration at XLRI, Jamshedpur, saying that this move would mark a historic milestone for the brand. Mehta framed dairy as more than a business, describing it as "a lifeline for rural India," a statement that reflects the deep cultural and economic significance of milk in the country. He credited Amul’s success to its focus on offering protein-rich, organic, and chemical-free products that consumers trust, while continually expanding its production capacity and infrastructure. Amul’s journey is rooted in the cooperative model pioneered by Dr. Verghese Kurien, often referred to as the "Milkman of India," whose vision turned India from a milk-deficient country into the world’s largest <keyword id="23447069" type="General" weightage="20" keywordseo="milk-producer" source="keywords">milk producer</keyword>. Mehta added, "If India could offer a gift to the world, it would be the cooperative working system-a gift Dr Kurien gave us. His belief in cooperation has sparked a new revolution in India." Amul’s daily collection of 310 lakh litres of milk, processed across 107 dairy plants in India, has turned it into a global powerhouse, with over 50 products and an annual sale of 22 billion packs. With a turnover of ₹80,000 crore, the brand is now ranked as the strongest dairy and food brand globally, owned by 3.6 million farmers. Amul’s entry into the European market would solidify India’s growing influence in the <keyword id="23447067" type="General" weightage="20" keywordseo="global-dairy-sector" source="keywords">global dairy sector</keyword>, as well as honour the cooperative system that has powered Amul’s success. Nirmala Kurien, daughter of Dr. Verghese Kurien, echoed these sentiments, highlighting her father’s vision that transformed India from a milk-deficient nation to a self-sufficient one. India’s deep connection to Amul goes beyond mere consumption. The cooperative’s rise is tied to the country’s rural development and empowerment of farmers, making it a symbol of economic self-reliance. As Amul prepares to conquer new markets, it carries with it the legacy of Dr. Kurien, whose commitment to making a difference continues to inspire millions. (With PTI inputs)

Amul thinking to enter European market after US success, MD Jayen Mehta calls it the lifeline for rural India

<ul><li>The hospitality sector saw 23 <keyword id="142429" type="General" weightage="20" keywordseo="credit-rating" source="Orion">credit rating</keyword> upgrades, with no downgrades at all in FY24, says ICRA.</li><li>Auto, financial sector, power, realty and transport infrastructure also saw several upgrades.</li><li>Agriculture, chemicals, construction and apparel sectors saw the most downgrades. </li></ul> The fiscal year of FY24 continued the ‘upgrade momentum’ that was set into motion in FY22, said the credit rating agency ICRA. Two entities had been upgraded for every entity downgraded during the year, the rating agency said in a report released on Monday. The biggest winner for the year is the hospitality sector — with 23 upgrades and an upgrade rate of 37%. And, there were no downgrades at all. ICRA maintains a positive outlook on the Hospitality sector for FY2025 as well. The other sectors which saw the most number of upgrades include auto and auto components, finance, power, realty and transport infrastructure. On the other hand, sectors which saw the most number of downgrades are — agricultural food and other products, chemicals and petrochemicals, construction, textiles and apparel. Company-specific factors While entities in aviation, hospitality, auto &amp; auto components, and banks gained from the industry tailwinds in FY24 – that’s not the only factor behind most upgrades. “A large majority of rating upgrades were driven by company-specific factors such as expansion in market share or order book, improvement in the cost structure, reduction in project risk, or fresh equity infusion that strengthened the balance sheet,” says K Ravichandran, chief rating officer at ICRA said. Overall, credit profiles continued to improve last year. The number of instances of defaults dipped to five in FY24, compared with 22 in FY23 and 42 in FY22. “Corporate India has shown a high resilience to withstanding the rise in borrowing costs over the past two years and is seen to have the capacity to bear the current level of interest rates before the rate cut cycle likely begins in the latter part of the year,” said Ravichandran. Banks &amp; NBFC asset profiles at decadal best The financial sector has also been one of the best-performing sectors for the year in terms of credit profile. It saw an upgrade rate of 13%, next only to auto. Its downgrade ratio is also low at 2%. “The asset quality of banks and NBFCs has also been at its decadal best with the profitability and the capitalisation indicators expected to remain healthy in the near term. The series of proactive actions taken by the regulators (RBI and SEBI) in recent years would work to further strengthen the financial system and the capital markets,” opines Ravichandran. He, however, added that the key downside factors that could derail progress in multiple sectors are the monsoons and complicated geopolitical landscape. Two wars, the Red Sea crisis and sluggish exports had been weighing on India in FY24. “Yet, these did not feel heavier as domestic consumption demand across several sectors, government spending on public infrastructure, and healthy balance sheets lent support to the credit profiles of entities,” says ICRA. In FY25, the rating agency expects India’s GDP to expand by 6.5%, with the average retail inflation estimated to be moderate at 4.6%.

Two entities upgraded for every downgrade in FY24, hospitality sector records 23 upgrades: ICRA

New Delhi, India's <keyword id="413762" type="General" weightage="20" keywordseo="manufacturing-sector-growth" source="Orion">manufacturing sector growth</keyword> fell to an 18-month low in December amid softer increase in factory orders and output, despite minimal inflation, a monthly survey said on Wednesday. The <keyword id="20046281" type="General" weightage="20" keywordseo="hsbc-india-manufacturing-pmi-survey" source="Orion">HSBC India Manufacturing PMI survey</keyword>, conducted by S&amp;P Global, showed that there were softer, albeit sharp, increase in factory orders and output, while business confidence towards the year-ahead outlook strengthened. The seasonally adjusted HSBC India Manufacturing <keyword id="726966" type="General" weightage="20" keywordseo="Purchasing-Managers-Index" source="Orion">Purchasing Managers' Index</keyword> (PMI) fell from 56 in November to an 18-month low of 54.9 in December. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. The HSBC India Manufacturing PMI is compiled by S&amp;P Global from responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers. "India's manufacturing sector continued to expand in December, although at a softer pace, following an uptick in the previous month. Growth of both output and new orders softened, but on the other hand, the future output index rose since November," said Pranjul Bhandari, Chief India Economist at HSBC. Despite a loss of growth momentum, the sector still expanded strongly in December. New business gains, favourable market conditions, fairs and expositions collectively induced another sharp increase in manufacturing production during December, according to panellists. The December data showed a 21st consecutive increase in international order receipts at goods producers in India. "Companies noted gains from clients in Asia, Europe, the Middle East and North America. New export sales expanded at a moderate pace that was the joint-slowest in eight months," the survey noted. On the prices front, input costs rose at the second-slowest rate in nearly three-and-a-half years and charge inflation softened to a nine-month low. Among the items reported to have been up in price were chemicals, paper and textiles. Little-changed from November, however, the rate of inflation was negligible by historical standards and was the second-weakest in just under three-and-a-half years, as per the survey. "Rates of increase in input and output prices were broadly unchanged," Bhandari added. HSBC India PMI data showed a general lack of pressure on the capacity of manufacturers at the end of the third fiscal quarter. Subsequently, employment was largely stable in December. When assessing the year-ahead outlook for production, Indian manufacturers were at their most upbeat for three months. Anecdotal evidence highlighted advertising, better customer relations and new enquiries as the main factors boosting business confidence in December, the survey said.

India's manufacturing sector growth falls to 18-month low in December on softer rise in orders, output

New Delhi [India], November 13 (ANI): <keyword id="178886" type="General" weightage="20" keywordseo="indian-manufacturing" source="Orion">Indian manufacturing</keyword> has accelerated through the second quarter of 2023-24 and is likely to continue for the subsequent quarters of the financial year 2023-24, notwithstanding the slowdown in developed nations, industry body <keyword id="19481819" type="General" weightage="20" keywordseo="ficcis-latest-quarterly" source="Orion">FICCI's latest quarterly</keyword> survey revealed. The industry body's latest quarterly survey assessed the performance and sentiments of manufacturers for the July-September 2023-24 quarter for ten major sectors -- automotive and auto components, capital goods and construction equipment, cement, chemicals fertilizers and pharmaceuticals, electronics and white goods, machine tools, metal and metal products, textiles, apparels and technical textiles, paper, and miscellaneous. It sought responses from over 380 manufacturing units from both the large and SME segments with a combined annual turnover of over Rs 4.88 lakh crores. The existing average capacity utilization in the Indian manufacturing sector is around 74 per cent, slightly higher than the 73 per cent recorded during the previous quarters. The future <keyword id="628648" type="General" weightage="20" keywordseo="investment-outlook" source="Orion">investment outlook</keyword> has also improved as compared to the previous quarter as over 57 per cent of respondents reported plans for investments and expansions in the coming six months. This is also a slight improvement over the previous survey. In terms of major constraints, demand is a limiting factor to realise the true potential of the manufacturing sector in India, with over 40 per cent of respondents highlighting this as a significant constraint. "Whether it is domestic demand or exports, this remains a major limiting factor. Some other constraints, though not major ones are high raw material prices, increased cost of finance, logistics, and other supply chain disruptions are some of the major constraints which are affecting expansion plans of the respondents," finds the FICCI survey. The table below gives the average capacity utilization for various sub-sectors of manufacturing: On the export front, performance seems to be better than in previous quarters as over 48 per cent of the respondents reported higher exports in July-September 2023-24 as compared to 33 per cent in Q1 2023-24. "However, further improvement in export demand is required in the light of the country's growth aspiration," FICCI said. Further, the hiring outlook, according to the survey, looks stable with around 38 per cent of the respondents looking at hiring additional workforce in the next three months. "Most sectors have sufficient labour force engaged in their operations and are not facing a shortage of labour at factories. While 82 per cent of our respondents mentioned that they do not have any issues with workforce availability, the remaining 18 per cent feel that there is still a lack of skilled workforce available in their sector," FICCI noted. (ANI)

Indian manufacturing sector growth expected to continue: FICCI survey

New Delhi, <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> is likely to account for more than a fifth of incremental global consumption for chemicals over the next two decades as domestic demand is projected to rise to USD 1,000 billion by 2040, McKinsey said in a report. In the report titled 'India: The next chemicals manufacturing hub', McKinsey said the country's chemical industry has been a global outperformer in demand growth and shareholder wealth creation over the last decade. "It now stands poised to play an increasingly dominant role across both consumption and manufacturing in the global arena," it said. The sector is projected to grow at 11-12 per cent during 2021-27 and 7-10 per cent during 2027-40 -- tripling its global market share by 2040. "India is expected to account for more than 20 per cent of incremental global consumption for chemicals over the next two decades. Domestic consumption and demand is expected to rise from USD 170-180 billion in 2021 to USD 850-1000 billion by 2040," it said. Chemicals find wide usage in human lives -- from detergents to clothing and fragrances, from insecticides to paints, and telecommunication to music and media. McKinsey said the growing demand for biofriendly products globally could benefit India, as it is among the leading producers of many chemicals that are used in such products. "Triggered by the evolving geopolitical scenario and the trend to diversify from the existing core manufacturing markets; firms are seeking to make their supply-chains more resilient. With its strong value proposition, India could be a preferred destination," it said. However, India will continue to be import dependent for meeting its needs for chemicals. Out of the three main segments of the sector -- inorganic, petrochemicals, and specialty -- only specialty is expected to be a net exporter. Due to limited cracker infrastructure and scarcity of key feedstock and minerals, both petchem and inorganic segments will be import dependent. "Over recent years, changing geopolitical scenarios have led to many countries focusing on domestic self-sufficiency and localised supply chains. However, benchmarking India's manufacturing competitiveness reveals that India has a strong starting point vs other key global chemical clusters that could translate into India becoming the next chemicals manufacturing hub," McKinsey said. "India will be the fastest growing global demand centre for chemicals with domestic consumption set to grow at a 9-10 per cent CAGR in the coming years on the back of rising disposable incomes, a favourable demographic dividend, increasing global preference for biofriendly alternatives, and growing diversification of global chemical supply chains," it said. The specialty chemicals segment is likely to be a key driver of this growth. It has the potential to contribute more than USD 20 billion to India's net exports by 2040, a 10 times jump from the current total of USD 2 billion. McKinsey said benchmarking against six global chemical clusters surfaces both India's strengths and areas of improvement as a global destination for manufacturing chemicals. "Indian chemical companies often face obstacles in feedstock availability due to lagging cracker capacity and low access to building blocks and key minerals". Additionally, India faces a dearth of skilled R&amp;D talent and challenges in timely environment and land approvals. "Despite this, India is cost competitive in several chemical segments due to low capital and operating expenses such as labour, utility and overhead expenses etc," it said. Coupled with promoters' focus on high profitability and a culture of process innovation, Indian chemical companies generate one of the highest EBITDA per unit of investment in fixed assets. "This is evident from global leadership of multiple Indian firms across segments like agrochemicals, pharma intermediates, dyes and pigments, carbon black etc," it said. Many sub-segments in India's chemicals sector offer opportunities for building at-scale businesses. Winning plays exist across specialty chemicals (agrochemicals, flavours &amp; fragrances, cosmetic chemicals), inorganic chemicals (caustic, fluorine) and petrochemicals (C4, C6 and C8 derivatives). "These sub-segments score high on both cost competitiveness -- a function of domestic feedstock availability, trade balance, capacity utilisation, scope of process and tech innovation -- and market attractiveness, an indicator of market size, demand growth, export potential," it added. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/more-than-110-vc-firms-led-by-general-catalyst-are-banding-together-in-support-of-silicon-valley-bank/articleshow/98573133.cms">More than 110 VC firms, led by General Catalyst, are banding together in support of Silicon Valley Bank</a> <a href="https://www.businessinsider.in/business/news/svb-collapse-minister-chandrasekhar-to-meet-indian-startups-to-see-how-govt-can-help-them/articleshow/98577417.cms">SVB collapse: Minister Chandrasekhar to meet Indian startups to see how govt can help them</a> <a href="https://www.businessinsider.in/international/news/india-born-rajesh-agrawal-to-lead-london-trade-mission-to-india/articleshow/98577581.cms">India-born Rajesh Agrawal to lead London trade mission to India</a>

India's chemical demand likely to jump to $1,000 billion by 2040

<ul><li>India’s investments into <keyword id="3347616" type="General" weightage="20" keywordseo="fixed-assets" source="Orion">fixed assets</keyword> has hit a decadal high in the fourth quarter of FY23. </li><li>In the last quarter of FY23, government capex was up ove 20% compared to the same period a year before. Private entities too will follow suit, says Nirmal Bang. </li><li>Improving affordability and rising loan tenures could possibly sustain a multi-year residential real estate cycle. </li></ul>India’s investments into fixed assets hit a decadal high in the fourth quarter of FY23. Measured in terms of Gross Fixed Capital Formation (GFCF) — which is investments of producers in fixed assets — it’s now at a high of 35.3% of India’s gross domestic product (GDP), as per a research report by Nirmal Bang. The trigger to this high is the Indian government raising its spending. In the last quarter of FY23, its capex was up by 22.9% YoY. Going ahead, the research firm believes that private entities too will go in for capacity expansion —- as capacity utilization of industries is now hovering between 74-75% in the last one year on an average. “Private capex announcements in FY23 more than doubled from pre-pandemic levels and are running ahead of the central and state governments,” said a Nirmal Bang report named India Capex Meter. Overall, new capex crossed the pre-pandemic peak and stood at around ₹12 lakh crore tn in 4QFY23, according to data from CMIE. Multi-year residential real estate cycle Real mortgage rates have risen over the past year, but a structural downtrend persists. The report finds that the Indian household capex has held on, aiding growth in the housing sector. While it did flatten out recently due to rising interest rates, growth in housing credit could possibly sustain marginally above system credit growth, Nirmal Bang believes. “This, along with improving affordability and rising loan tenures could possibly sustain a multi- year residential real estate cycle,” it adds. For corporates, however, real interest rates have recently turned slightly adverse, rising above their long-term trend. This however is unlikely to be a major deterrent in the near term since the initial leg of private capex recovery is unlikely to be bank funded. Capital goods sector Most of the capex indicators have remained in positive territory over the past year, the most significant being the capital goods sector – that builds industries. “While the central government’s persistent capex focus provided the initial thrust, indicators such as capital goods production and capital goods imports too have sustained in the positive territory over the past year,” the report said. Yet another indicator, that’s – the profitability of the capital goods sector has also improved. “Operating profitability of BSE Capital Goods companies has sustained in the positive territory despite persistent pressure on margins. Over the past two quarters, operating profitability of the BSE Capital Goods companies has grown by over 15% YoY,” said Nirmal Bang. There’s more steam left? State and central governments have been steadily spending on building road projects. The road construction has been robust, but the nature of investment into the sector seems to be changing. While state and central governments seem to be slowing down, the <keyword id="53482" type="General" weightage="20" keywordseo="private-sector" source="Orion">private sector</keyword> is more than making up for it, with project announcements. Bank credit to the sector is also on-point. “Bank credit to the infrastructure sector has seen some sluggishness recently, but bank credit to the roads sector, which is the key beneficiary of government capex, seems to be holding up,” the report said. Manufacturing back to pre-Covid levels Going by the investment proposals, there seems to be a broad-based capex recovery, the research report says. In 4QFY23, investments in the manufacturing sector were about 48% above the pre-Covid level. “Sectors that saw recovery were chemicals, metals, machinery and miscellaneous manufacturing. Investments in food &amp; agro-based products remained below the pre-pandemic level,” said Nirmal Bang. The top sector in terms of investment proposals by value is metals. It is followed by sectors such as sugar, transportation, textiles, drugs &amp; pharmaceuticals, chemicals and fermentation-based pharmaceuticals. Even sectors such as leather are seeing some resurgence, aided by China +1 strategies. The share of sectors like electrical equipment is seen moderating as some of the early Production Linked Incentive (PLI) schemes get implemented. On the other hand, proposals from sectors like food processing and textiles are seen rising.

Indian private sector to take a cue from government and raise investments in fixed assets

The <keyword id="1374696" type="PERSON" weightage="20" keywordseo="chemical-sector">chemical sector</keyword> is expected to grow at 1.2x-1.3x of the GDP multiplier in <keyword id="5027223" type="COMPANY" weightage="20" keywordseo="FY22">FY22</keyword>, <keyword id="1498859" type="COMPANY" weightage="20" keywordseo="India-Ratings-and-Research">India Ratings and Research</keyword> (<keyword id="1704466" type="PERSON" weightage="20" keywordseo="Ind-Ra">Ind-Ra</keyword>) said. Accordingly, the <keyword id="387534" type="PERSON" weightage="20" keywordseo="ratings-agency">ratings agency</keyword> has assigned the sector an improving outlook for FY22. It expects favourable market conditions across the broad <keyword id="30850" type="COMPANY" weightage="20" keywordseo="chemical">chemical</keyword> subsectors, along with a healthy rebound in end-user industries, following the Covid-19 led business disruptions in 1HFY21. "Ind-Ra expects GDP growth to rebound to 10.4 per cent in FY22, and the chemical sector to grow at 1.2x-1.3x of the GDP multiplier. Chemical sector participants are impacted by a varying degree of end-market demand pressure," the agency said in a report. According to the report, issuers catering to the auto, textiles and construction sectors and in the certain bulk commodities space are expected to witness an extended recovery cycle throughout FY22, whereas those catering to pharma, agrochemicals and personal care are already witnessing a demand surge. "Most companies benefited from stable and lower feedstock prices, even as the prices of final products increased during 2HFY21, supporting margins. India's push for self-sufficiency coupled with efforts towards supply chain diversification away from China is enabling large capex, which remains a monitorable," the report said. In addition, the agency expects chemical producers to generate <keyword id="10190717" type="UNKNOWN" weightage="20" keywordseo="strong-cash-flows">strong cash flows</keyword> from operations, given the volume uptick across end-user industries, higher realisations and stable feedstock prices. "This would help limit the use of external debt for large capital budgets, as cash flows will be directed towards business expansions, leading to only moderate deterioration in credit metrics during the expansion phase, largely within the rating headroom available for most issuers," it said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/future-retail-shares-take-a-massive-hit-as-it-loses-the-case-against-amazon-in-delhi-high-court/articleshow/81583165.cms">Future Retail shares take a massive hit as it loses the case against Amazon in Delhi High Court</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-9r-will-be-the-companys-next-affordable-smartphone-india-launch-confirmed-for-march-23/articleshow/81586104.cms">OnePlus 9R will be the company’s next affordable smartphone, India launch confirmed for March 23</a> <a href="https://www.businessinsider.in/thelife/article/a-4-foot-tall-humanoid-robot-called-doozy-may-just-be-the-party-symbol-for-tamil-nadus-immk-but-it-can-do-much-more-than-that/articleshow/81605666.cms">A 4-foot-tall humanoid robot called Doozy may just be the party symbol for Tamil Nadu’s IMMK, but it can do much more than that</a>

You Searched For "chemical sector" and got 7 results

Amul thinking to enter European market after US success, MD Jayen Mehta calls it the lifeline for rural India

BI India Bureau

Two entities upgraded for every downgrade in FY24, hospitality sector records 23 upgrades: ICRA

Katya Naidu

India's manufacturing sector growth falls to 18-month low in December on softer rise in orders, output

PTI

Indian manufacturing sector growth expected to continue: FICCI survey

ANI

India's chemical demand likely to jump to $1,000 billion by 2040

PTI

Indian private sector to take a cue from government and raise investments in fixed assets

Katya Naidu

Chemical sector to grow at 1.2x-1.3x of GDP multiplier, says India Ratings and Research

IANS

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