The clarion of ‘Make in India’ laid the foundation for growth in Manufacturing. The sector has witnessed increased inflow of FDI since then; the sector is expecting more conducive tax structure and ‘Ease of Doing Business’ with the roll out of GST soon. Meanwhile, as a catalyst, the Union Budget 2017 has features in store for the manufacturing sector to provide it right impetus for continuous growth.
At the recent Vibrant Gujarat Summit, Prime Minister Narendra Modi announced India’s rise to be the sixth-largest manufacturing nation in the world, as opposed to being the ninth largest at the time when ‘Make in India’ programme was launched, back in 2014.
The government has set an ambitious target of increasing the manufacturing output from 16 per cent to 25 per cent of the GDP by 2025, which means a promising future for the manufacturing sector in India.
Gross domestic product (GDP) from manufacturing in India decreased to Rs 4,84,150 crore in the third quarter of 201617 from Rs 4,901,64 crore in the second quarter. GDP from manufacturing in India averaged Rs 4,13,621 crore from 2011 until 2016, reaching an all-time high of Rs 4,90,833 crore in the first quarter of 201617. This happened due to an enormous push by the government to open up the economy.
FDI in Manufacturing
FDI in manufacturing has increased from US$ 1.65 billion in 2014 to US$ 18.36 billion in 2016. And the sector has received FDI equity inflow worth US$ 16.13 billion during April-November period of the current fiscal registering 82 per cent growth in FDI inflow as compared to the corresponding period last fiscal when it attracted FDI worth US$ 8.85 billion.
Initiatives have been undertaken to alleviate the business environment from outdated policies and regulations, and to align with parameters of World Bank’s ‘Ease of Doing Business’ index. To promote foreign direct investment, government has put in place an investor-friendly policy, wherein except for a small negative list, most sectors are open for 100 per cent FDI under the automatic route.
“Further, the policy on FDI is reviewed on an ongoing basis, to ensure that India remains attractive and investor friendly destination,” Commerce and Industry Minister Smt. Nirmala Sitharaman said in recently in the Rajya Sabha.
Denne historien er fra February 2017-utgaven av industrial business MART.
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Denne historien er fra February 2017-utgaven av industrial business MART.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Go Green
Environment depletion has been a serious concern for the world since past many years. In response to that, many organisations have taken several initiatives with the intension to deter the further damage to the environment. In our CSR column, we present to you the initiatives taken by Bill Forge and Tesco in the field.
Success: It Needs You
Road to success has never been so easy. One is bound to encounter ups and downs in this journey. Hard work, consistency, discipline are some of the factors that need to be practiced religiously in order to achieve success.
Rewrite Your Story
“She is free in her wildness; she is a wanderess, a drop of free water. She knows nothing of borders and cares nothing for rules or customs. ‘Time’ for her isn’t something to fight against. Her life flows clean, with passion, like fresh water.” – Roman Payne
CSR for Women Empowerment
Multitasking is the middle name of women and donning multiple roles comes naturally to them. Women with their spirit, strength and sensitivity are undoubtedly the backbone of any society. The competence shown in discharging their duties, care and compassion displayed in taking care of the family are the two sides of the same precious coin ‘ the woman’.
Visionary Budget, Vibrant Manufacturing!
The clarion of ‘Make in India’ laid the foundation for growth in Manufacturing. The sector has witnessed increased inflow of FDI since then; the sector is expecting more conducive tax structure and ‘Ease of Doing Business’ with the roll out of GST soon. Meanwhile, as a catalyst, the Union Budget 2017 has features in store for the manufacturing sector to provide it right impetus for continuous growth.
Government Initiatives for Better India
THOUGHTFUL, is one word which can be used to describe budget 2017. Aftermath of demonetization and subsequent cash crunch in the system lead to slow down in the economy, manufacturing sector also slowed down, quarterly result of companies were affected (with few exceptions). Finance Minister has tried to curb demonetization effect in this budget.
Electric Revolution: JBM Solaris Ecolife 9m
Electric Buses have overcome the ‘under development’ phase and have hit the market for practical use. Joining the diverse fleet of buses on road is the Ecolife 9 Electric bus by JBM, with promising features and a futuristic approach. Proclaimed to be emission-free and handy to the user, the bus guarantees a low operation cost.
Managing Inventory for Better Operational Efficiency
Inventory in manufacturing or production unit has both advantages and disadvantages for different departments. While Inventory has been shown as a burden on OPEX due to maintenance cost by some, some attribute virtues to Inventory as it offers better customer service by variety of choices, availability and low handling cost etc. While the excess or shortage of Inventory has definitely negative impact on business, a proper management of it can help in operational efficiency and better customer service
Patience & Passion Equals SWAYAM
How often does it happen that people hold on to their dreams till they have achieved it, enduring all the ups and downs? Well, here is a story of patience and passion that inspires us on many levels. One project, eight years and participation of more than 250 students! SWAYAM has earned it all and so have the minds behind it.
Age of Artificial Intelligence
It’s hard to know what to think about Artificial Intelligence these days. Almost everyone in the industry believes it to be a revolution as deep and as fundamental as the industrial revolution or the birth of the computer. Yet the field seems divided over when we will get to general intelligence and what that will ultimately mean for us. Some believe it will be our greatest invention yet and others that it may lead to our doom.
