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New Delhi [India], August 4 (ANI): India's <keyword id="21307504" type="General" weightage="100" keywordseo="outbound-tourism" source="keywords">outbound tourism</keyword> market is expected to reach USD 18817.72 million (USD 18.81 billion) in 2024 and grow at a <keyword id="20256055" type="General" weightage="20" keywordseo="CAGR" source="keywords">CAGR</keyword> of 11.4 per cent in the decade between 2024 and 2034 to reach approximately USD 55388.41 million (USD 55.38 billion), highlighted a FICCI-Nangia knowledge paper. The paper titled '<keyword id="22661864" type="General" weightage="20" keywordseo="Navigating-Horizons" source="Orion">Navigating Horizons</keyword>: <keyword id="22661865" type="General" weightage="20" keywordseo="The-Rise-and-Future-of-Indian-Outbound-Tourism" source="Orion">The Rise and Future of Indian Outbound Tourism</keyword>', released during the '3rd Outbound Tourism Summit' here in the FICCI office earlier this week, asserted that few emerging markets and opportunities for outbound <keyword id="19916662" type="General" weightage="20" keywordseo="travel" source="keywords">travel</keyword> include various Southeast Asian, Middle Eastern, African and Eastern European countries. India's online travel market, which consists of sales of travel services through online channels, is expected to grow at a CAGR of 10.5 per cent between 2024-29, from USD 17.24 billion to USD 28.40 billion. International travel has thus been eased by the steady growth in affordable technology, states the paper. It further states that the government administration and the tourism industry stakeholders in India may undertake various strategic interventions to promote the outbound tourism market. These include bilateral engagement; improved connectivity; support to travel industry stakeholders; marketing of international destinations; curated packages; and hospitality partnerships, among others. Speaking at the launch of the report, Mary M Mutuku, Deputy High Commissioner of Kenya to India said that Kenya is not only committed to deepen the relations between India and Kenya but also promoting Kenya as a preferred tourist destination. "Currently, the India market is among the top 5 Kenya's key sources of tourists, and this has the potential to grow even further," she said in her brief address. To attract more <keyword id="110519" type="General" weightage="20" keywordseo="Indian-tourists" source="Orion">Indian tourists</keyword> to Kenya, Mutuku stated that Kenya has put in place the necessary infrastructure to ease travel in the country. "With an increase in the number of flights between the two countries along with the opening of the Nairobi Expressway, tourists will have more convenience traveling in Kenya. A new cruise terminal at Mombasa port is a major boost to cruise tourism. The berth targets to enhance passenger handling capacity as well as allow for an increased volume of cruise ships arrival at the port," she added. Seitenov Darkhan, Deputy Ambassador, Embassy of Kazakhstan to India had said, "We have huge potential for mutual and beneficial cooperation in the tourism sector. There has been significant growth in the number of tourists coming to Kazakhstan from India which is also due to offering 14 days visa-free regime for Indian tourists along with an increase in a number of direct flights." While highlighting the investment potential for Indian industry, Darkhan further said that in order to meet the needs of Indian tourists in Kazakhstan, it would be advisable to consider building a network of Indian hotels and restaurants in the major cities in Kazakhstan. "We invite major Indian investors to participate in implementing these initiatives in our country," he added. Geshan Dissanayake, Minister Commercial, High Commission of Sri Lanka in India said, "The strong shared heritage between India and Lanka forms the bedrock of our bilateral relationship. India alone stands out as a key source market for Sri Lanka. The integration of the Indian UPI payment system with 'LankaPay' has made simplified payment options for Indian tourists visiting Sri Lanka," he added. Dissanayake further stated that to fully realize the potential of outbound tourism there is a need to focus on marketing and promotion of various offerings by Sri Lanka; infrastructure development; promoting sustainable tourism and further streamlining the visa process. Working together, we can unlock the potential of outbound tourism between India and Sri Lanka," he added. Jyotsna Suri, Past President, of FICCI and CMD, The Lalit Suri Hospitality Group stated that any country has to have healthy inbound and outbound tourism. "<keyword id="644076" type="General" weightage="20" keywordseo="Indian-tourism" source="Orion">Indian tourism</keyword> has witnessed a major growth in the last few years and while we are at the threshold of massive growth, we must be cognizant of sustainability as well," she added. Ankush Nijhawan, Chairman, of FICCI Outbound Tourism Committee and Co-Founder, TBO.com and MD, of Nijhawan Group said that the global travel and tourism industry is expected to reach USD 2.6 trillion by 2027, growing at a CAGR of 8.2 per cent. "Traveler preferences are becoming increasingly diverse, and demand tailor-made travel services. Demographic boost, government support, increased connectivity, and niche segment growth are powering India's outbound travel boom," he added. Representatives from the Embassy of Madagascar to India, the Embassy of Georgia to India, the Malaysia Tourism Promotion Board, Singapore Tourism Board also shared their perspectives during the session.

Indian outbound tourism to reach USD 18817.72 million, grow at over 11% CAGR through 2034: FICCI-Nangia report

New Delhi, The <keyword id="19899402" type="General" weightage="20" keywordseo="digital" source="keywords">digital</keyword> media will potentially overtake television as the leading segment in the <keyword id="20331450" type="General" weightage="20" keywordseo="media-entertainment" source="keywords">media &amp; entertainment</keyword> sector in 2024 with an estimated size of Rs 75,100 crore, said a joint report from industry body FICCI (Federation of Indian Chambers of Commerce and Industry) and EY on Tuesday. While the Indian Media &amp; Entertainment (M&amp;E) sector grew by 8.1 per cent in 2023, reaching Rs 2.32 lakh crore and is expected to touch Rs 2.55 lakh crore and cross Rs 3 lakh crore mark by 2026, it added. "We expect the M&amp;E sector to grow 10.2 per cent to reach Rs 2.55 trillion by 2024, then grow at a CAGR (Compound Annual Growth Rate) of 10 per cent to reach Rs 3.08 trillion by 2026," the report said. Though in 2023 television remained the largest segment with Rs 69,600 crore, however, it had a degrowth of 1.83 per cent as against Rs 70,900 crore in 2022, it said. While, the digital media in 2023 crossed Rs 65,400 crore and is expected to be around Rs 75,100 crore in 2024, which is ahead of Rs 71,800 crore figure of the television media. The report estimates digital media would be around Rs 95,500 crore in 2026, with a CAGR growth of 13.5 per cent between 2023-26. While TV media would be Rs 76,600 crore, which would be around 20 per cent less than digital media. "In 2024, digital media is poised for explosive growth, potentially overtaking television to become the leading segment of the M&amp;E sector. This surge in digital media is forecasted to propel the M&amp;E sector's growth to a 10 per cent annual rate, crossing Rs 3 trillion (USD 37.1 billion) by 2026," said <keyword id="20331445" type="General" weightage="20" keywordseo="kevin-vaz" source="keywords">Kevin Vaz</keyword> Chairman, <keyword id="20835181" type="General" weightage="20" keywordseo="ficci-media-and-entertainment-committee" source="keywords">FICCI Media and Entertainment Committee</keyword>. This growth is buoyed by a robust digital infrastructure, widespread adoption of OTT platforms, significant growth in the gaming segment, and the availability of cost-effective options for consumers. The report expects digital advertising to grow at a 13.5 per cent CAGR to reach Rs 84,200 crore, on the back of improved governance. According to the report, the connected TV (smart TV) saw a 50 per cent growth as internet penetration continues to rise. "The broadband market is growing with subscription numbers recording 904 million. It is inevitable that smartphone users have grown and consequently, the average usage time continues to rise," it said. However, it also added despite high app downloads of 26.4 billion, India was behind in monetising this potential, with users spending half their time on social media apps. "The year also saw the growth of digital ad spending by 15 per cent, predominantly in search and social media. By 2026, the digital segment is expected to grow to Rs 95,000 crore with an increased focus on governance," it said. The Media &amp; Entertainment sector (M&amp;E) sector, which was around Rs 2.14 lakh crore has grown around Rs 17,300 crore in 2023, led by growth from Digital media, <keyword id="20004573" type="General" weightage="20" keywordseo="print" source="keywords">Print</keyword>, Online gaming, and Animation and VFX, the report said. "While the sector was 21 per cent above its pre-pandemic levels, television, print, and radio still lagged their 2019 levels," it said. The share of traditional media, which includes television, print, filmed entertainment, live events, OOH (Out-of-home), music, and radio stood at 57 per cent of M&amp;E sector revenues in 2023, down from 76 per cent in 2019, it added. In 2023, TV advertising fell 6.5 per cent due to a slowdown in spending by gaming and D2C brands, which impacted revenues for premium properties. On the print media, the report said it has buckled the global trend and continued to thrive in India. "Advertising revenues grew 4 per cent in 2023, with a notable growth in premium ad formats, as print remained a "go-to" medium for more affluent and nonmetro audiences. Subscription revenues grew 3 per cent on the back of rising cover prices. Digital revenues were insignificant for most print companies," it said.

Media and entertainment industry to cross ₹3 lakh crore in 2026 says FICCI, EY report

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

The Federation of Indian Chambers of Commerce and Industry (<keyword id="6355001" type="General" weightage="80" keywordseo="ficci" source="Orion">FICCI</keyword>) on Wednesday said the <keyword id="6358021" type="General" weightage="100" keywordseo="budget" source="Orion">Budget</keyword> 2023-24 presented by <keyword id="309842" type="General" weightage="50" keywordseo="union-finance" source="Orion">Union Finance</keyword> Minister <keyword id="129243" type="General" weightage="50" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> will strengthen the fundamental pillars and ensure resilience, inclusivity and sustainability. <keyword id="542619" type="General" weightage="50" keywordseo="subhrakant-panda" source="Orion">Subhrakant Panda</keyword>, president of FICCI, said: "Budget is balanced and progressive which gives primacy to inclusive growth. "The announcements made today capture the pulse of the economy while retaining credibility both in terms of projections as well as committing to the fiscal consolidation glide path. Most importantly, a historic outlay for public capex is a continuation of the heaving lifting since the time of the pandemic and will have a multiplier effect across myriad sectors of the economy besides crowding in private investment," he added. "A push to investment and consumption was required to keep the growth cycle in motion. We are happy to note that the government has continued the thrust on capital expenditure with a 33 per cent increase in the capital outlay to Rs 10 lakh crore representing 3.3 per cent of GDP. This is a step in the right direction amidst a global economic situation which is still not at ease. Moreover, the revision in tax rates under the new regime will augur well on the consumption side," added Panda. "We also compliment the government on meeting the fiscal deficit target for the current financial year despite persisting uncertainty, this lends credibility to the budget. Moreover, by projecting a 5.9 per cent fiscal deficit for 2023-24 and reiterating the commitment to bring it below 4.5 per cent by 2025-26, the Finance Minister has imparted confidence that growth remains a priority without compromising on fiscal consolidation," he said. The FICCI president added that the announcements made on Wednesday further strengthen the fundamental pillars and ensure resilience, inclusivity and sustainability. "The government is committed to ensuring manufacturing competitiveness, ease of doing business, reducing compliance touch points, and supporting livelihoods across sections. This indicates a continuation of the good work the government has done, and puts in motion an action plan for 'Amrit Kaal'. "Even as <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> offers a ray of hope in the current global context, we are not decoupled from the rest of the world. We laud the government's promise to make India exports competitive given that a slowdown in growth globally could have an impact. In this context, some incentive to support exports would have been timely," he said. "The support contained in the budget for the MSME sector is welcome. The revamped credit guarantee scheme for MSMEs will benefit from an infusion of Rs 9,000 crore enabling credit flow of Rs 2 lakh crore with a 1 per cent lower cost. In addition, the move from an accrual based payment system to a cash based one has been a long standing demand from FICCI and will ensure MSMEs don't suffer as a result of delayed payments. "The emphasis on green growth in the <keyword id="6360189" type="General" weightage="50" keywordseo="union-budget" source="Orion">Union Budget</keyword> -- across sectors such as green energy, green farming, green building, green equipment -- is aligned with India's commitment towards <keyword id="66873" type="General" weightage="50" keywordseo="ndc" source="Orion">NDC</keyword> targets. The priority capital investments allocation towards energy transition, the target of 5 MMT annual production of green hydrogen by 2030, and notification of green credit program are important moves to forge ahead on the path of sustainable growth," he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/evs-that-import-parts-to-get-costlier-as-budget-gives-a-boost-to-in-house-manufacturing/articleshow/97529239.cms">EVs that import parts to get costlier as Budget gives a boost to in-house manufacturing</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-zooms-as-finance-minister-delivers-tax-bonanza-to-middle-class/articleshow/97510050.cms">Sensex and Nifty50’s post-budget rally fizzles out Adani Group stocks witness a rout, dragging markets down</a>

Budget strengthens fundamental pillars of inclusivity, sustainability: FICCI

<ul><li><keyword id="7706628" type="General" weightage="20" keywordseo="Defence-Minister-Rajnath-Singh" source="Orion">Defence Minister Rajnath Singh</keyword> on Saturday said the government is working and committed to increasing the <keyword id="15812191" type="General" weightage="20" keywordseo="defence-production-target" source="Orion">defence production target</keyword> from the current $12 billion to $22 billion by 2025.</li><li>The government is also working to provide market access to the domestic industry to make them Aatmanirbhar.</li><li>Defence Minister said, India has moved from the group of 'fragile 5' economies to 'fabulous 5 world economies' in the last nine years and registered itself as one of the fastest growing economies.</li></ul>Defence Minister Rajnath Singh on Saturday said the government is working and committed to increasing the defence production target from current $12 billion to $22 billion by 2025. "You (industry) can imagine, with this kind of growth, how many opportunities will be available for the Indian industry," the Defence Minister said while addressing <keyword id="15812194" type="General" weightage="20" keywordseo="FICCIs-95th-Annual-Convention" source="Orion">FICCI's 95th Annual Convention</keyword> &amp; AGM here. He further underlined that to increase the participation of domestic industry, the government has reserved a certain portion of defence capital acquisition for domestic procurement. "Out of the total defence capital budget outlay, 68 per cent of it is reserved for indigenous procurement by domestic industry and 25 per cent for the private sector. The results of these have now started appearing and more measures will be announced soon," he emphasised. The government, he said, is also working to provide market access to the domestic industry to make them Aatmanirbhar. Singh said that in the last few years, there has been a continuous increase in defence exports. The government has already taken a series of steps including simplifying the FDI norms which have been increased to 74 per cent via automatic route and 100 per cent via government route, he added. The Defence Minister also urged the domestic industry and foreign Original Equipment Manufacturers to invest in Indian defence sector by focusing on R&amp;D, bringing in newer technologies and capital. He added that India is making defence products not just for the domestic market but also to meet the global requirements. "The world is waiting for the products made in India," he claimed. India has moved from the group of 'fragile 5' economies to 'fabulous 5 world economies' in the last nine years and registered itself as one of the fastest growing economies, the Defence Minister said on the occasion. Sanjiv Mehta, President, FICCI, thanked the government for ushering in reforms in the process of defence acquisition and facilitating ease of doing business through the revision of the DPP 2016 as DAP 2020 and assured Industry's unstinted support for achieving the goal of 'Aatmanirbhar Raksha Utpadhan'. Subhrakant Panda, President-Elect, FICCI said that the government's focus on 'Make In India' and 'Make for the World' is an impressive strategic move towards shedding its historical status of one the largest importer of defence equipment to a net exporter. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/gst-council-meet-decriminalisation-tax-evasion-in-pan-masala-gutkha-biz-on-agenda/articleshow/96297108.cms">GST Council meet: decriminalisation, tax evasion in pan masala, gutkha biz on agenda</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/ukraines-2nd-largest-city-without-power-after-russian-strikes/articleshow/96294790.cms">Ukraine's 2nd largest city without power after Russian strikes</a>

Govt committed to achieving defence production target of $22 bn by 2025: Rajnath

The growth momentum picked up by the manufacturing sector in the last few months is likely to be sustained for the next six-to-nine months, <keyword id="15451445" type="General" weightage="50" keywordseo="quarterly-survey-on-manufacturing" source="Orion">Quarterly Survey on Manufacturing</keyword> conducted by industry body <keyword id="6355001" type="General" weightage="100" keywordseo="ficci" source="Orion">FICCI</keyword> revealed. The latest Survey reveals that after experiencing a revival of the Indian economy in the FY 2021-22, the momentum of growth continued in subsequent quarters of Q1 (April-June 2022-23) and Q2 July-Sept (2022-23) with over 61 per cent of respondents reported higher production levels in Q2 (July-September 2022-23). This is significantly more than the percentage of respondents experiencing higher growth in Q2 of the last few years including pre-Covid years too. This assessment is also reflected in order books as 54 per cent of the respondents in Q2 (July-September 2022-23) that had a higher number of orders. FICCI assessed the sentiments of manufacturers for Q2 July-September (2022-23) for ten major sectors namely Automotive and Auto Components, Capital Goods, <keyword id="6378916" type="General" weightage="50" keywordseo="cement" source="Orion">Cement</keyword>, Chemicals Fertilizers and Pharmaceuticals, Electronics, <keyword id="655658" type="General" weightage="80" keywordseo="machine-tools" source="Orion">Machine Tools</keyword>, Metal and Metal Products, Paper Products, Textiles, Textile Machinery and Miscellaneous. Responses have been drawn from over 300 manufacturing units from both large and <keyword id="18173" type="General" weightage="50" keywordseo="sme" source="Orion">SME</keyword> segments with a combined annual turnover of over 2.8 lakh crores. Capacity Addition and Utilization: The existing average capacity utilization in manufacturing is over 70 per cent, which reflects sustained economic activity in the sector. The future investment outlook also slightly improved as compared to the previous quarter as close to 40 per cent of respondents reported plans for capacity additions in the next six months, by as much as over 15 per cent on average. Global economic uncertainty caused by the Russia-Ukraine War and increasing cases of various mutations of COVID virus worldwide have accentuated the volatilities impacting the major economies. High raw material prices, increased cost of finance, cumbersome regulations, and clearances, shortage of working capital, high logistics cost due to rising fuel prices and blocked shipping lanes, low domestic and global demand, excess capacities due to the high volume of cheap imports into India, unstable market, high power tariff, shortage of skilled labor, highly volatile prices of certain metals, etc. and other supply chain disruptions are some of the major constraints which are affecting expansion plans of the respondents. Inventories: Over 87 per cent of the respondents had either more or the same level of inventory in Q2 July-September 2022-23, which is the same as compared to that of the previous quarter, where around 86.19 per cent of respondents expected either more or the same level of inventory. Exports: The outlook for exports seems to be positive as over 42 per cent of the respondents expect a high increase in exports in Q2 2022-23 as compared to the Q2 July-September of FY 2021-22. Hiring: Hiring through positive remains below potential as 36 per cent of the respondents in Q2 2022-23 were looking at hiring additional workforce in the next three months. Interest Rate: Overall, the average interest rate paid by the manufacturers has decreased to 8.37 per cent per annum as against 9.3 per cent during the last quarter and the highest rate at which a loan has been raised is 13.5 per cent. High lending rates were reported by around 62 per cent of the respondents. Production Cost: The cost of production as a percentage of sales for manufacturers in the survey has risen for 94 per cent of respondents in the quarter. Reduced availability and high raw material prices especially that of steel, increased transportation, logistics, and freight cost, and a rise in the prices of crude oil and fuel have been the main contributors to the increasing cost of production. Other factors responsible for escalating production costs include enhanced labour costs, high cost of carrying inventory, and fluctuation in the foreign exchange rate. Workforce Availability: Most sectors have a sufficient labour force engaged in their operations and are not facing a labour shortage at factories. While 81 per cent of the respondents mentioned that they do not have any issues with workforce availability, the remaining 19 per cent feel that there is still a lack of skilled workforce available in their sector. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indian-e-rupee-to-boost-digital-payments-sans-bank-accounts-say-industry-stakeholders/articleshow/95332849.cms">Indian e-rupee to boost digital payments sans bank accounts, say industry stakeholders</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-rises-over-360-pts-to-scale-61k-level-in-early-trade-nifty-above-18220/articleshow/95348184.cms">Sensex rises over 360 pts to scale 61k-level in early trade; Nifty above 18,220</a>

Manufacturing sector's growth momentum to sustain for 6-9 months: FICCI

The Central government is looking at the possibility of adopting a universal charger model for all electronic devices like mobile phones, laptops, electric watches, and will set up a panel seeking views on the proposal, informed sources said. The sources said the Centre will set up three expert groups which will submit their report after taking the views of all stakeholders on the proposal. They further informed that the groups will be notified in August itself and they will submit their report within a couple of months. This was decided after the <keyword id="184317" type="General" weightage="80" keywordseo="department-of-consumer-affairs" source="Orion">Department of Consumer Affairs</keyword> on Wednesday held a meeting with representatives of mobile phone and electronic devices manufacturers to seek their views on adopting the universal charger model. The meeting was presided over by the Secretary in the Department of Consumer Affairs, <keyword id="215678" type="General" weightage="80" keywordseo="rohit-kumar-singh" source="Orion">Rohit Kumar Singh</keyword>. Industry bodies like <keyword id="6355001" type="General" weightage="80" keywordseo="ficci" source="Orion">FICCI</keyword>, CII and ASSOCHAM, as well as representatives of electronic products manufacturers bodies were present in the meeting. The idea behind pushing this concept emerged from Prime Minister Narendra Modi's commitment towards reducing carbon emissions in <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>, which he had announced in the <keyword id="168609" type="General" weightage="80" keywordseo="climate-change-conference" source="Orion">Climate Change Conference</keyword> held in Glasgow last year. Also, the government has expressed concern that due to excess usage of separate chargers for all electronic devices, there has been an alarming rise in e-consumption which leads to greater emission levels. This concern has made the Government think about adopting a universal charger for all electronic devices. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/netflix-will-not-allow-you-to-watch-movies-and-shows-offline-in-the-ad-supported-tier/articleshow/93634420.cms">Netflix will not allow you to watch movies and shows offline in the ad-supported tier</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/gig-jobs-are-popular-with-pocket-money-seeking-teens-for-primary-earners-its-a-burden/articleshow/93632374.cms">Gig jobs are popular with pocket-money seeking teens, for primary earners it’s a burden</a>

Centre to form panel to seek views on adopting universal charger model

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>

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Indian outbound tourism to reach USD 18817.72 million, grow at over 11% CAGR through 2034: FICCI-Nangia report

ANI

Media and entertainment industry to cross ₹3 lakh crore in 2026 says FICCI, EY report

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