PLI scheme to give $520 billion boost to manufacturing sector in 5 years: Amitabh Kant
NEW DELHI: The government of India’s production-linked incentive (PLI) scheme for key sectors has the potential to add $520 billion worth of manufacturing in the next five years, NITI Aayog CEO Amitabh Kant said on Saturday. Recently, the government of India (Centre) had announced the PLI scheme with a budgetary support of $26 billion. Addressing […]
India’s manufacturing PMI slips to 3-month low in November
NEW DELHI: India’s manufacturing sector activity lost momentum and fell to a three-month low in November amid slower increases in factory orders, exports and buying levels, a monthly survey said on Tuesday. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) fell from 58.9 in October to a three-month low of 56.3 in […]
Hiring outlook in manufacturing sector still bleak: FICCI Survey
NEW DELHI: The outlook for hiring in the manufacturing sector has marginally improved but the sentiments still remain weak, according to a survey by FICCI. The latest quarterly survey of the sector for July-September showed that 80 per cent of the respondents said that they are not likely to hire additional workforce in the next […]
India okays PLI scheme for 10 sectors, including auto, telecom
NEW DELHI: To give an impetus to the manufacturing sector, the Indian Cabinet on Wednesday approved a mega production linked incentive (PLI) scheme for 10 sectors. The total outlay has been pegged at Rs 1,45,980 crore. Announcing the decision, Union Finance Minister Nirmala Sitharaman said that the scheme would entail an expenditure of about Rs […]