Employment in Indian manufacturing sector up for 10th month in a row
Around one-in-10 companies recruited extra staff, while fewer than 2 per cent of firms shed jobs in 2024, according to the ‘HSBC India Manufacturing PMI’ report.
Around one-in-10 companies recruited extra staff, while fewer than 2 per cent of firms shed jobs in 2024, according to the ‘HSBC India Manufacturing PMI’ report.
Growth in India's manufacturing sector slipped to 56.5 in November stymied by fierce competition and price pressures.
Instead of creating 10 crore jobs in the manufacturing sector, the country is currently facing the highest unemployment in the last five decades, she claimed.
Goyal said India will be an important consumer market and it is going to see more and more sustainability driving consumer demands.
Chief Minister Yogi Adityanath has set a goal of making Uttar Pradesh a $1 trillion economy in the next five years.
The drop seen in the manufacturing PMI reflected the sharpest deterioration in business conditions across the sector since data collection began over 15 years ago.
Interestingly, as per the data furnished by the National Statistical Office (NSO), the revised second quarter GDP growth rate stood at 5.1 per cent from the earlier 4.5 per cent.
Now with the majority of China-based production factories remaining closed the cost of a variety of products, primarily white goods, is expected to hit the ceiling.
The report said that the percentage of respondents expecting low or static production is 59 per cent in the first quarter of 2019-20, which was 46 per cent in the previous quarter.
The country’s new industrial policy which is at a draft stage will focus on ways to increase the share of…
