Mumbai: The poor performance of China’s property sector since 2021 has created significant overcapacity in the country’s steel industry, leading to a collapse in global prices of the alloy, India’s Economic Survey 2023-24 tabled in parliament on Monday said. This (Chinese overcapacity and exports) is putting “significant pressure” on steel producers in India, Vietnam, Brazil, … Read more
To be a catalyst for India’s ambition of becoming one of the top three global economies by 2050, the manufacturing sector must adopt a sustainable and inclusive model that decouples growth from emissions for a developing economy of this scale. This will lower our total cost of societal development. Over recent years, Indian manufacturing has … Read more
As India has largest amount of data and largest IT services industry in the world, the country can do to artificial intelligence (AI) what China did to manufacturing, said Ola founder and chief executive officer (CEO) Bhavish Aggarwal on Sunday. In a post on social media platform X (formerly twitter), Bhavish Aggarwal said: “India has: … Read more
Supporting this optimism is the HSBC final India Manufacturing Purchasing Managers Index, which has consistently remained above its long-run average and the crucial 50-mark, separating contraction from expansion, for nearly three years now. However, with the Bharatiya Janata Party (BJP) returning to the Centre through a coalition government, a crucial question has arisen: Will manufacturing … Read more
MUMBAI : Sectoral and thematic funds received over ₹19,000 crore in net inflows in May, according to monthly data from the Association of Mutual Funds in India (Amfi). Nearly half of this amount went into HDFC Mutual Fund’s new fund offer (NFO) – HDFC Manufacturing Fund, which alone garnered ₹9,500 crore from investors. It’s not … Read more
With this fund, Khemani, a Portfolio Management Service (PMS) manager, aims to capitalize on India’s economic trajectory, betting on sectors expected to undergo substantial growth, including manufacturing, banking, infrastructure, and consumption, as the country targets a $29 trillion GDP by 2047, accounting for an estimated 16% of global GDP. This strategy also reflects Khemani’s confidence … Read more
The ₹1 trillion innovation fund announced by finance minister Nirmala Sitharaman in the interim budget on Thursday is expected to give a big boost to local technology development and manufacturing, and help India move beyond providing high-tech services towards development of products, experts said. In her interim budget speech on Thursday, Sitharaman said the fund … Read more
India is on the cusp of change, having transformed to become the fifth largest economy in the world and is gradually moving towards being in the top three. Our economy is uniquely diverse and rapidly growing; this is powered by infrastructure, manufacturing, information technology and services sectors. A key strength is our sizeable domestic market, … Read more