The document provides an overview of India's manufacturing sector. Some key points:
- Manufacturing is a major employer in India and the government aims to achieve 25% GDP share and 100 million new jobs in the sector by 2022.
- India has a large workforce and various government initiatives are making the country competitive for manufacturing globally.
- The sector has grown significantly in recent years, with the gross value added increasing at a CAGR of 4.46% between FY12-FY18.
- Key sub-sectors include automobiles, electronics, chemicals, pharmaceuticals, machinery, medical devices, and food processing.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
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2. Table of Content
Advantage India…………………..…...……4
Market Overview …………….………….….6
Recent Trends and Strategies…….……..17
Growth Drivers and Opportunities…….....20
Industry Organisations …….......…………29
Useful Information……….……….......…...31
Executive Summary……………….………..3
3. For updated information, please visit www.ibef.orgManufacturing3
EXECUTIVE SUMMARY
Organised manufacturing is the biggest private sector employer in India. Overall, more than 30 million people
are employed by the sector (organised and unorganised) and will become the engine of growth as it tries to
incorporate the huge available workforce in India most of which is semi-skilled.
The sector will push growth in the rural areas where more than 5 million manufacturing establishments are
already running. This will be the alternative available to the new generation of farmers.
Government aims to achieve 25 per cent GDP share and 100 million new jobs in the sector by 2022.
Pillar For Economic
Growth
India’s manufacturing industry is already moving in the direction of industry 4.0 where everything will be
connected and every data point will be analysed. Indian companies are at the forefront of R&D and have
already become global leaders in areas such as pharmaceuticals and textiles. Areas such as automation
and robotics also receiving the required attention from the industry.
Large international industrial producers such as Cummins and Abbott already have manufacturing bases in
the country.
Improvement in port infrastructure has also been a focus point of the government for the same reason.
Potential To Become A
Global Hub
India has all the necessary ingredients for its major industrial push – a huge semi-skilled labour force,
multiple government initiatives like Make in India, high investments and a big domestic market.
Necessary support infrastructure is being developed with areas such as power being the prime focus.
Government incentives like free land to set up base and 24*7 power supply are making India competitive on
a global scale
Competitiveness
Source: Central Statistics Office, FICCI, PwC, Economic Survey of India
5. For updated information, please visit www.ibef.orgManufacturing5
ADVANTAGE INDIA
Huge domestic market with a rapidly
increasing middle class and overall
population.
By 2030, Indian middle class is expected
to have the second largest share in global
consumption at 17 per cent.
Investments in the Indian manufacturing
sector have been on the rise, both
domestic and foreign. Gross Fixed Capital
Formation, which represents net
investments in fixed assets, has grown
10.44 per cent annually between FY16
and FY18PE.
Most sectors are open to 100 per cent FDI
under automatic route.
Increasing share of young working
population in the total population. India
can achieve its full manufacturing potential
as it looks to benefit from its demographic
dividend and a large workforce over the
next two to three decades.
A resource-rich country with fifth largest
reserves of coal in the world and immense
potential for renewable energy like solar
and hydro, ready to meet the needs of
growing industry.
National Investment and Manufacturing
Zones developed to create an ecosystem
for industries in India.
Initiatives like ‘Make in India’ and sector
specific incentives to various
manufacturing companies, aiming to make
India a global manufacturing hub.
Skill India, a multi skill development
programme has been started to equip the
workforce with the necessary skills
required by the sector.
ADVANTAGE
INDIA
Source: Brookings Institute, DIPP, Economic Times, Make in India,
Note: PE – Provisional Estimate
7. For updated information, please visit www.ibef.orgManufacturing7
Make in India campaign was
launched to attract
manufacturers and FDI.
Government is aiming to
establish India as global
manufacturing hub through
various policy measures and
incentives to specific
manufacturing sectors.
70 per cent of manufacturing
units under the private sector.
GVA at basic prices from
manufacturing grew at a
CAGR of 8.95 per cent
between FY16 and FY18 at
current prices.
EVOLUTION OF THE INDIAN MANUFACTURING
SECTOR
Source: data.gov.in, Central Statistics Office, Indian Express
Pre Independence 1948-1991 Post 1991 reforms Present
Most of the products were
handicrafts and were exported
in large numbers before the
British era started
The first charcoal fired iron
making was attempted in
Tamil Nadu in 1830.
India’s present day largest
conglomerate Tata Group
started by Jamsetji Tata in
1868.
Slow growth of Indian industry
due to regressive policies of
the time.
Indian industry grew during
the two world war periods in
an effort to support the British
in the wars.
Focus of Indian government
on basic and heavy industries
with the start of five year
plans.
A comprehensive Industrial
Policy resolution announced
in 1956. Iron and steel, heavy
engineering, lignite projects,
and fertilizers formed the
basis of industrial planning.
Focus shifted to agro-
industries as a result of many
factors while license raj grew
in the country and public
sector enterprises grew more
inefficient. The industries lost
their competitiveness.
Indian markets were opened
to global competition with the
LPG reforms and gave way to
private sector entrepreneurs
as license raj came to an end.
Services became the engines
of growth while the industrial
production saw volatility in
growth rates during this
period.
MSMEs in the country were
given a push through
government’s policy
measures.
Note: MSME – Micro, small and Medium Enterprises, FDI – Foreign Direct Investments
8. For updated information, please visit www.ibef.orgManufacturing8
SUB-SECTORS UNDER MANUFACTURING
Manufacturing
Food products Paper and paper products
Fabricated metal products, except
machinery and equipment
Beverages
Tobacco products
Textiles
Wearing apparel
Leather and related products
Wood and products of wood and cork,
except furniture; manufacture of articles of
straw and plaiting materials
Furniture
Printing and reproduction of
recorded media
Coke and refined petroleum
products
Chemicals and chemical
products
Pharmaceuticals, medicinal
chemical and botanical products
Rubber and plastics products
Other non-metallic mineral
products
Basic metals
Computer, electronic and optical
products
Electrical equipment
Machinery and equipment n.e.c.
Motor vehicles, trailers and semi-
trailers
Other transport equipment
Other manufacturing which
includes jewellery, bijouterie and
related articles, musical
instruments, sports goods, games
and toys, medical and dental
instruments and supplies
Source: udyogaadhaar.gov.in
As per National Industrial Classification, following 24 activities make up the manufacturing sector in India:
Repair and Installation of
machinery and equipment
9. For updated information, please visit www.ibef.orgManufacturing9
GROSS VALUE ADDED BY MANUFACTURING
300.76
289.60
284.25
307.63
323.27
347.18
390.84
198.05
0
50
100
150
200
250
300
350
400
450
FY12 FY13 FY14 FY15 FY16 FY17 FY18PE FY19*
Source: Ministry of Statistics and Programme Implementation
India’s manufacturing sector has witnessed strong growth over the
past few years.
The sector’s Gross Value Added (GVA) at basic prices based at
current prices is estimated at US$ 390.84 billion in 2017-18PE.
GVA of the sector has recorded a CAGR of 4.46 per cent between
FY12 and FY18.
During April-September 2018, GVA from manufacturing at current
prices grew 14.8 per cent year-on-year to Rs 138.99 trillion (US$
198.05 billion).
Visakhapatnam port traffic (million tonnes)GVA of Manufacturing at basic current prices (US$ billion)
^CAGR 4.46%
Note: FY – Indian Financial Year (April -March), PE – Provisional Estimate, Exchange rate used is average for the Financial Year, FY19* - for April-September 2018, ^CAGR is till FY18PE
10. For updated information, please visit www.ibef.orgManufacturing10
MANUFACTURING SECTOR – PERFORMANCE IN
COMPARISON WITH OTHER SECTORS
95.46
100.73
98.06
107.64
116.24
139.36
0
20
40
60
80
100
120
140
160
FY12 FY13 FY14 FY15 FY16 FY17
Source: Central Statistics Office, World Bank
Gross Capital Formation simply means capital accumulation over a
time period through additions in physical assets such as equipment,
transportation assets and electricity. This serves as an indicator of
the investment activity in a sector.
At current prices, Gross Capital Formation of the sector increased at
a CAGR of 7.86 per cent to US$ 125.40 billion in 2016-17 from US$
95.46 billion in 2011-12.
Gross Capital Formation of Manufacturing Sector at current
prices (in US$ billion)^
Note: ^Exchange rates used are average of each year – provided on page 33, Next update is expected to be available in January 2019
11. For updated information, please visit www.ibef.orgManufacturing11
INDUSTRIAL PRODUCTION
The Index of Industrial Production (IIP) is prepared by the Central
Statistics Office to measure the activity happening in three industrial
sectors namely Mining, Manufacturing, and Electricity.
It is the benchmark index and serves as a proxy to gauge the growth
of manufacturing sector of India since manufacturing alone has a
weight of 77.63 per cent in the index.
The manufacturing component of the IIP grew 4.50 per cent year-on-
year in FY18.
During Apr-Oct 2018, the manufacturing component of the index
grew 5.6 per cent. Strong growth was recorded in production of
consumer durables (9.4 per cent), construction goods (8.7 per cent)
and capital goods (8.7 per cent).
Annual Growth Rates of IIP (%) at Sectoral level
-5.30
-0.10
-1.40
4.30
5.30
2.30
3.80
4.80
3.60
3.90
3.00
4.90
4.50
5.60
4.00
6.10
14.80
5.70
5.80
5.40
6.80
-10.00
-5.00
0.00
5.00
10.00
15.00
20.00
FY13
FY14
FY15
FY16
FY17
FY18
FY19*
Mining Manufacturing Electricity
Source: Central Statistics Office
Note: *up to October 2018
12. For updated information, please visit www.ibef.orgManufacturing12
PERFORMANCE OF EIGHT CORE INDUSTRIES
46.48
39.78
34.64
32.79
31.24
30.92
31.83
18.59
38.09
37.86
37.79
37.46
36.94
36.01
35.68
20.29
38.78
37.49
38.05
38.54
41.24
41.33
41.34
23.87
75.70
81.69
87.67
92.16
90.98
100.75
106.36
63.25
203.20
217.74
220.76
221.14
231.92
243.26
254.38
153.41
229.50
246.61
255.83
270.94
283.46
279.98
297.56
190.86
551.55
569.13
574.54
620.78
650.79
671.53
688.41
375.83
876.95
912.06
967.24
1,110.46
1,173.60
1,242.11
1,306.60
831.07
0.0
200.0
400.0
600.0
800.0
1000.0
1200.0
1400.0
FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19*
Natural Gas Production (in BCM) Crude Oil Production (in MT) Fertilizer Production (in MT)
Steel Production (in MT) Petroleum Refinery Products (in MT) Cement Production (in MT)
Coal Production (in MT) Electricity Generation (in Million MWH)
Production Performance of Eight Core Industries
Source: Office of the Economic Adviser
Note: MT – Million Tonnes, BCM – Billion Cubic Metres, MWH – Mega Watt Hour, FY19* - up to October 2018
The Index of Eight Core Industries (ICI) is an index reflecting the production performance of eight core industries viz. Coal Production, Crude Oil
Production, Natural Gas Production, Petroleum Refinery Processing, Steel Production, Cement Production and Electricity Generation.
The overall index advanced 5.4 per cent year-on-year during Apr-Oct 2018. Growth in the index in October 2018 was supported by robust growth
in cement, electricity and coal sectors.
13. For updated information, please visit www.ibef.orgManufacturing13
MANUFACTURING SECTOR PMI
The Nikkei India Manufacturing Purchasing Manufacturers Index
(PMI) is an index which indicates the sentiments relating to
manufacturing activity in the economy.
A value above 50 reflects positive sentiments and potential
expansion of the sector.
India’s manufacturing PMI increased for the third consecutive month
to 54.0 in November 2018 from 53.1 in October 2018. The expansion
was driven by strong inflows of new orders which led to higher
production and input purchasing.
New order inflows rose at the fastest pace recorded since December
2017. Similarly, production advanced at the fastest rate since
October 2016, with robust growth across intermediate, consumer and
capital goods.
47.90
51.20
51.20
50.30
52.60
54.70
52.40
52.10
51.00
51.60
51.20
53.10
52.30
51.70
52.20
53.10
54.00
44.0
46.0
48.0
50.0
52.0
54.0
56.0
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Dec-17
Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Nikkei India Manufacturing PMI (Monthly)
Source: IHS Markit
14. For updated information, please visit www.ibef.orgManufacturing14
CAPACITY UTILISATION IN MANUFACTURING
SECTOR
Capacity Utilisation in the manufacturing sector is measured by
Reserve Bank of India in its quarterly Order Books, Inventories and
Capacity Utilisation Survey.
It indicates the not only production levels of companies, but also
indicates the potential for future investments.
As per the latest survey, capacity utilisation in India’s manufacturing
sector stood at 73.8 per cent in the first quarter of 2018-19.
During the same period, average new order book of manufacturing
entities grew 43.1 per cent year-on-year to Rs 1.80 billion (US$
26.97 million).
71.7
72.0
71.0
74.6
71.2
71.8
74.1
75.2
73.8
68
69
70
71
72
73
74
75
76
Q12016-17
Q22016-17
Q32016-17
Q42016-17
Q12017-18
Q22017-18
Q32017-18
Q42017-18
Q12018-19
Capacity Utilisation in Manufacturing Sector (in percentage)
Source: Reserve Bank of India Order Books, Inventories and Capacity Utilisation Survey
15. For updated information, please visit www.ibef.orgManufacturing15
EXPORTS OF MANUFACTURED GOODS
Manufacturing is a key component of India’s merchandise exports.
India’s merchandise exports grew 9.78 per cent year-on-year to US$ 302.84 billion in 2017-18. Merchandise exports recorded 13.27 per cent
year-on-year growth to reach US$ 191.09 billion during April-October 2018.
58,635.46
56,819.87
61,626.38
70,769.99
58,597.44
65,239.20
76,204.40
46,479.74
59,318.92
58,848.41
60,664.42
47,276.60
27,059.35
29,049.37
34,939.78
24,414.65
46,849.00
43,630.00
40,237.00
40,027.98
39,286.50
43,199.45
41,020.70
24,049.96
13,268.00
14,663.00
14,935.00
15,433.00
16,912.00
16,840.00
17,250.00
12,200.30
11,742.82
11,931.76
12,561.80
12,664.21
11,684.64
12,062.28
15,914.60
11,043.21
-
10,000.00
20,000.00
30,000.00
40,000.00
50,000.00
60,000.00
70,000.00
80,000.00
90,000.00
FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19*
Engineering Exports Petroleum Products Exports Gems and Jewellery Exports Pharmaceutical Exports Chemical Exports
Export performance of select industries (US$ million)
Source: EEPC, DGCIS, GJEPC, CHEMEXCIL, PHARMEXCIL, News Articles
Note: *Data for FY19 is up to October 2018 and is provisional
16. For updated information, please visit www.ibef.orgManufacturing16
ROLE IN EMPLOYMENT
New Subscribers under Employees’ Provident Funds Scheme*
1,130,816
1,369,874
1,238,099
1,229,173
1,106,849
1,100,482
1,322,294
1,268,273
1,375,360
1,367,921
1,152,788
1,090,753
875,634
0
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Oct-17
Nov-17
Dec-17
Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Manufacturing constitutes a significant part of employment in India.
Around 24 per cent of India’s total employed population was working
in the industrial sector in 2017.#
As per MOSPI’s report on Payroll Reporting in India, number of new
subscribers* under Employees’ Provident Fund Scheme reached
875,634 in October 2018.
Source: MOSPI, World Bank
Note: #As per the World Bank, *Provisional Estimates, Updation of employee records is a continuous process, thus data gets updated in subsequent months
18. For updated information, please visit www.ibef.orgManufacturing18
NOTABLE TRENDS IN INDIA’S MANUFACTURING
SECTOR
Source: PWC India Manufacturing Barometer, FICCI, Bloomberg Quint
Note: ISRO – Indian Space Research Organisation, * - by PWC, IISC – Indian Institute of Science
As per India Manufacturing Barometer 2017*, more than 50 per cent of respondents in the industry are planning major
investments and 62 per cent are planning to expand into foreign markets. Along with major investments consolidation is
happening in sectors like cement.
Major Investments
and Expansion
Into New Markets
Additive
Manufacturing
Industrial Internet
of Things (IIOT)
and Industry 4.0
Advanced
Robotics
Popularly knows as 3D printing, this new manufacturing technology uses digital models to create products by printing
layers of materials. This has huge potential in India with the rise of mega projects coming up.
As of August 2018, IISC’s Society of Innovation and Development (SID) and WIPRO 3D are collaborating to produce
India’s first industrial scale 3D printing machine.
With the rise of IoT in consumer tech, manufacturing sector has also started implementing this new network of sensors
and actuators for data collection, monitoring, decision making and process optimisation over internet infrastructure .
Data is a huge component of this whole setup and Indian companies have a lot of potential in this area with many large
companies already betting on big data and analytics. As an example, Indian Railways will be rolling out locomotives with
solutions like remote diagnostics and proactive predictive maintenance and these trains will be part of a wider
ecosystem connected to industrial internet.
While standalone robotic workstations are already common place even in Indian companies, advanced robotics use
enhanced senses, dexterity, and intelligence to automate tasks or work alongside humans.
19. For updated information, please visit www.ibef.orgManufacturing19
STRATEGIES ADOPTED
Source: Annual Reports and Company Presentations, Aranca Research
With the advent of the digital age, Indian manufacturing companies have started adopting digital technologies in their
production processes which will help in increasing efficiency. It is estimated that 65 per cent of manufacturing
companies will have high levels of digitalisation by 2020.
For its Commercial Vehicles, Ashok Leyland is utilising machine learning algorithms and its newly created telematics
unit to improve the performance of the vehicle, driver and so on.
Digital
Technologies
Focus on forward
integration
Forward integration strategies also help organisations to realise cost benefits.
As of October 2018, Filatex India, a polymer manufacturer, is planning to undertake forward integration by setting up a
fabric manufacturing and processing unit.
Focus on
backward
integration
Backward integration helps manufacturers to increase efficiency and overall cost of products without sacrificing on
quality. Various organisations are looking at backward integration as a means to reduce costs.
As of August 2018, Britannia Industries has started with backward integration with procurement of milk as it is coming
out with dairy based products.
Collaboration
The Government of India has been pushing for greater technology transfers and collaborations along with more FDI and
domestic production.
21. For updated information, please visit www.ibef.orgManufacturing21
GROWTH DRIVERS FOR MANUFACTURING IN INDIA
Growth Drivers
Government
Initiatives
Public Private
Partnerships
International
Investments
Huge Labour Pool
Domestic
Consumption
22. For updated information, please visit www.ibef.orgManufacturing22
MAKE IN INDIA INITIATIVE
Source: Bloomberg, Economic Times
Make in India initiative was launched in 2014 to encourage Indian as well as multi-national companies to manufacture in India. After the launch of
the programme, India became the top destination globally for Foreign Direct Investment (FDI) in 2015.
The programme initially focused on 25 sectors of the economy, however, its scope has been increased to 27 sectors. Various new sectors
including Financial Services, Education Services, Environmental Services, Communication Services, Legal Services, Audio Visual Services,
Accounting and Finance Services, Transport and Logistics Services, Medical Value Travel are now covered under the programme. Also, various
existing sectors covered have been modified – ‘Automobiles’ and ‘automobile components’ have been combined, ‘Defence Manufacturing’ has
been modified to ‘Aerospace and Defence’, ‘Chemicals’ sector has been modified to ‘Chemicals and Petrochemicals’, ‘Pharmaceuticals’ sector
has been altered to include ‘Medical Devices’ and ‘Leather’ sector has been changed to ‘Leather and Footwear’.
Special cells called ‘Japan Plus’ and ‘Korea Plus’ have been made under the initiative to facilitate investments and fast track proposals from Japan
and Korea respectively.
Make in India and other initiatives have helped India to improve its Ease of Doing Business rank by 65 positions from 142 in 2014^ to 77 in 2018^,
in World Bank’s Ease of Doing Business Report.
Moreover, the Make in India initiative led to a rise in India’s total FDI inflows to US$ 60.97 billion in 2017-18 from US$ 34.9 billion in 2014-15.
The government has taken various other steps to attract more investment into the country. Five industrial corridors are being developed across
the country which will act as supporting infrastructure to the manufacturing sector.
In August 2017, the government announced a new Consolidated FDI Policy. The policy allows start-ups to raise money from Foreign Venture
Capital Investors (FVCI’s) by issuing instruments such as convertible notes.
In 2018, India was ranked at 30th position on a global manufacturing index*, ahead of BRICS peers, Brazil, South Africa and Russia.
As of December 2018, premium smartphone maker OnePlus is anticipating that India will become its largest Research and Development (R&D)
base within the next three years.
In July 2018, Samsung inaugurated the world’s biggest mobile phone factory in Uttar Pradesh. The factory will double the company’s mobile
phone production capacity to 120 million units by 2020.
Note: * By World Economic Forum (WEF), ^Release year of the report
23. For updated information, please visit www.ibef.orgManufacturing23
SKILL INDIA INITIATIVE
Source: Budget, Economic Times, Media sources, Ministry of Skill Development and Entrepreneurship
Skill India Campaign was launched in 2015 and aims to train over 400 million people in various skills. It involves various schemes such as
National Skill Development Mission, Pradhan Mantri Kaushal Vikas Yojana and National Policy for Scheme Development and Entrepreneurship.
Budget 2017-18 aims to extend Pradhan Mantri Kaushal Kendras from 60 to 600 districts of the country and also establish 100 India International
Skills Centres. These centres would offer advanced training and courses in foreign languages.
As of December 2018, there are 15,053 Industrial Training Institutes (ITI) present in India.^
As of November 30, 2018, approximately 3.39 million candidates have been trained under the Pradhan Mantri Kaushal Vikas Yojana (PMKVY).
The government has introduced two new World Bank assisted projects viz. SANKALP scheme and STRIVE scheme for skill development in the
country. Both Skill Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) and Skills Strengthening for Industrial Value
Enhancement (STRIVE) scheme aim to improve quality of skill development and reforms institutions for skill development in India. World Bank is
going to provide a loan worth US$ 250 million and Rs 1,100 crore (US$ 169.91 million) for the implementation of the scheme.
Note: ^Accessed on December 26, 2018
24. For updated information, please visit www.ibef.orgManufacturing24
STARTUP INDIA
Source: Media sources, Aranca research
Startup India campaign was launched in 2015 to encourage startups in India and provide policy support to startups.
Under the Startup India action plan a startup is an entity which is headquartered in India, has been opened less than five years ago and has
revenue less than US$ 3.88 million.
There are various benefits offered to registered startups under the scheme:
• As per the scheme no inspection regarding labour laws would be carried out for three years. Also, only self certification is required for
environmental law compliance.
• Startups can claim an 80 per cent rebate on their patent costs and get protection for Intellectual Property Rights (IPR’s).
• Income Tax exemption is available for first three years after obtaining certificate from Inter-Ministerial Board. Capital Gains Tax exemption is
also available if the funds are invested in a fund of funds recognised by the government.
• Startups in manufacturing sector are exempted from the criteria of prior turnover/experience without relaxation in quality standards or technical
parameters in public procurement.
As of August 2018, Global entrepreneurial network Techstars is going to invest US$ 120,000 each in 10 start-ups in India working in fields like
Artificial Intelligence (AI), Blockchain, AR/VR, Robotics, Internet of Things (IoT) and Big Data Analytics.
Japanese firm Softbank pledged total investments of US$ 10 billion in startups. It has already invested US$ 2 billion in India.
As of March 2018, Xiaomi is planning to invest around Rs 7,000 crore (US$ 1.09 billion) in around 100 start-ups in India over the next five years.
Budget 2017-18 reduced the Income tax from 30 per cent to 25 per cent for companies with annual turnover of up to US$ 7.76 million.
In February 2018, India launched its States Start-up Ranking. The ranking framework will evaluate states on various parameters and is expected
to support in creation of a robust start-up ecosystem in the country. In December 2018, the Government of India came out with the first ever
states’ Start-up Ranking.
25. For updated information, please visit www.ibef.orgManufacturing25
NATIONAL MANUFACTURING POLICY
Source: Media sources, Aranca research
National Manufacturing Policy was introduced in 2011. It aims to increase the share of Manufacturing sector in India’s GDP to 25 per cent and
create 100 million jobs by 2021.
The policy was introduced to create an enabling policy framework and provide incentives for infrastructure development on Public Private
Partnership (PPP) basis.
Under the policy, National Investment and Manufacturing Zones(NIMZ’s) have been conceived as large industrial townships managed by a
Special Purpose Vehicle (SPV). These SPV’s would ensure planning of the zones, pre-clearances for setting up industrial units and undertaking
other specific functions.
Fourteen NIMZ’s have already been granted ‘in principle’ approval while four of them have been given final approval.
Central and State governments will provide exemptions, subject to fulfillment of conditions by the SPV, from compliance burdens for industries
located in these zones.
Exemption from Capital Gains Tax on sale of plant and machinery will be granted in case of re-investment of the capital gain amount for purchase
of plant and machinery within the same or different NIMZ within three years of sale.
A Technology Acquisition and Development Fund(TADF) has been launched for acquisition of appropriate technologies, creation of a patent pool
and development of domestic manufacturing of equipment's for reducing energy consumption.
In 2016, eight NMIZ’s were announced to be developed along the Delhi-Mumbai Industrial Corridor. Other than these, as of April 2017, fourteen
NIMZ’s have been granted ‘in-principle approval’, while three of them have been granted final approval by the government.
An amount of US$ 1.4 million has been allocated for Scheme for implementation of National Manufacturing Policy in Budget 2017-18.
Government of India is in the process of coming up with a new industrial policy which envisions development of a globally competitive Indian
industry. Consultations are being held with various stakeholders such as state governments, industry bodies, etc for formulation of the policy. As
of December 2018, the policy has been sent to the Union Cabinet for approval.
26. For updated information, please visit www.ibef.orgManufacturing26
FOREIGN INVESTMENTS FLOWING INTO THE
SECTOR
19.29
15.83
15.39
8.57
7.53
5.26
2.97
1.97
Automobile Industry
Drugs &
Pharmaceuticals
Chemicals (other than
fertilizers)
Food Processing
Electrical Equipments
Cement
Textiles (including
dyed and printed)
Electronics
Source: Department of Industrial Policy and Promotion
100 per cent FDI is approved in the sector through the automatic
route under the current FDI Policy.
In August 2017, Department of Industrial Policy and Promotion
released the consolidated FDI Policy.
For the period between April 2000 - June 2018
• Automobile sub-sector received FDI inflows of US$ 19.29 billion
• Drug and pharmaceutical manufacturing has received US$ 15.83
billion
• Chemical manufacturing sector (excluding fertilizers) received
inflows totalling to US$ 15.39 billion
Visakhapatnam port traffic (million tonnes)
Total FDI Equity Inflows in the manufacturing sub-sectors
during April 2000 – June 2018 (US$ billion)
27. For updated information, please visit www.ibef.orgManufacturing27
IMPACT OF GST ON MANUFACTURING SECTOR
Goods and Services Tax (GST) is expected to provide a major boost to the manufacturing sector. It has subsumed various taxes that were earlier
imposed on manufacturers. Some of the ways in which GST will help manufacturers are:
• Before GST, excise duty had to be paid as a specified percentage of Maximum Retail Price(MRP). However, under GST the excise duty will
have to be paid on the ex-factory transaction value leading to lower tax burden.
• Pre-GST Central taxes could not be offset against State wise taxes and there were cascading layers of taxation. With the introduction of GST,
such issues get addressed as set-offs are allowed across the production and value chain.
• Subsuming of entry taxes for inter state transfers will reduce the cost of goods and services, thereby boosting demand.
• GST will provide a simple single point registration unlike the old regime in which each production facility had to be registered separately.
• Under the new tax law, manufacturers can claim input tax credit on input goods which will have positive impacts on cash flows.
• Another benefit would be the provision of a single Goods and Services Tax Identification Number (GSTIN) instead of the multiple registrations
required for service tax, VAT, CST.
• Manufacturers will also be able to optimise their supply chain for business efficiency. Warehousing and location decisions will be taken on the
basis of economic efficiency such as costs and locational advantages instead of tax efficiency.
• Assessment of income of manufacturer by many separate authorities for VAT, Service Tax, Central Excise, etc. has been replaced by only
three authorities – Central, State and Interstate.
28. For updated information, please visit www.ibef.orgManufacturing28
OPPORTUNITIES IN MANUFACTURING
For creating an eco-system to make India a global hub for electronics manufacturing a provision of
US$115.62 million in 2017-18 in incentive schemes like M-SIPS and EDF.
100% FDI is allowed under the Electronic System Design and Manufacturing Sector(ESDM).
In Budget 2018-19, US$ 45.57 billion was allocated to Defence.
31 per cent of India’s Defence Budget is spent on capital acquisitions.
It is estimated that India will spend over US$ 250 billion on defence in the next decade.
Defence production by OFBs and DPSUs increased to Rs 58,759 crore (US$ 9.12 billion) in 2017-18.
The FDI limit in the defence sector has been raised to 100 per cent
Source: Media sources, Aranca research
In October 2018, the Government of India released the draft National Policy on Electronics (NPE) which has
envisaged creation of a US$ 400 billion electronics manufacturing industry in the country by 2025. As of
December 2018, the government has nearly finalised the policy.
In September 2018, the Government of India exempted 35 machine parts from basic custom duty in order to
boost mobile handset production in the country.
The electronic goods industry is one of the fastest growing industries. Demand for electronic goods is
increasing at a CAGR of 22 per cent and is expected to reach US$ 400 billion by 2020. Production of India’s
electronics sector is estimated to have increased to Rs 3,87,525 crore (US$ 60.13 billion) in 2017-18 from Rs
3,17,331 crore (US$ 47.30 billion) in the preceding fiscal.
The government has launched various schemes to boost Electronics System Design and Manufacturing
(ESDM) sector in India. Modified Special Incentive Package Scheme (M-SIPS) is one scheme which aims to
achieve ‘Net Zero Imports’ in the industry by 2020. Under the scheme, subsidy for investment in capital
expenditure is provided to the extent of 20 per cent of investment in SEZs and 25 per cent of investment in
non-SEZs.
Electronic Goods
Manufacturing
Defence Manufacturing
Government Initiatives
Note: OFB – Ordinance Factory Board, DPSU – Defence Public Sector Undertaking
32. For updated information, please visit www.ibef.orgManufacturing32
GLOSSARY
BTRA: Bombay Textile Research Association
CAGR: Compound Annual Growth Rate
FDI: Foreign Direct Investment
FY: Indian Financial Year (April to March)
GOI: Government of India
INR: Indian Rupee
US$: US Dollar
ACMA: Automotive Component Manufacturers Association
of India
Wherever applicable, numbers have been rounded off to
the nearest whole number
33. For updated information, please visit www.ibef.orgManufacturing33
EXCHANGE RATES
Exchange Rates (Fiscal Year) Exchange Rates (Calendar Year)
Year INR INR Equivalent of one US$
2004–05 44.95
2005–06 44.28
2006–07 45.29
2007–08 40.24
2008–09 45.91
2009–10 47.42
2010–11 45.58
2011–12 47.95
2012–13 54.45
2013–14 60.50
2014-15 61.15
2015-16 65.46
2016-17 67.09
2017-18 64.45
Q1 2018-19 67.04
Q2 2018-19 70.18
Year INR Equivalent of one US$
2005 44.11
2006 45.33
2007 41.29
2008 43.42
2009 48.35
2010 45.74
2011 46.67
2012 53.49
2013 58.63
2014 61.03
2015 64.15
2016 67.21
2017 65.12
Source: Reserve Bank of India, Average for the year
34. For updated information, please visit www.ibef.orgManufacturing34
DISCLAIMER
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