SME Times is powered by   
Search News
Just in:   • Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia  • Europe facing earlier, stronger heatwaves: Climate scientist  • India and Namibia sign two MOUs in fields of health and entrepreneurship  • PM Modi arrives in Delhi after concluding 'productive and successful' 5-nation tour  • ASEAN to keep on consensus, inclusivity: Malaysian official 
Last updated: 01 Jun, 2017  

Manufacturing.9..Thmb.jpg Manufacturing sector growth declines sharply, GDP data shows

Manufacturing.9.jpg
   Top Stories
» Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia
» Piyush Goyal holds talks with Malaysian minister on review of ASEAN trade pact
» India and OPEC have a unique and symbiotic relationship: Hardeep Puri
» SIP inflows hit all-time high in June, total AUM for equity MF at Rs 74.41 lakh crore
» India set to explore over 2.5 lakh sq kms area in one of largest offshore energy efforts
Rituparna Kakati | 01 Jun, 2017

India's manufacturing sector witnessed a sharp year-on-year decline in the January-March quarter of 2017, provisional GDP figures released by the government Wednesday showed.

The manufacturing sector growth stood at 5.3 percent, down sharply from 12.7 percent growth reported in the corresponding quarter of last fiscal.

For the full year as well, manufacturing, like several other industry components reported dismal numbers.

Manufacturing growth in the previous financial year slowed down to 7.9 percent as against 10.8 percent in 2015-16.

Meanwhile, a monthly survey showed Thursday that manufacturing sector growth in the country moderated to a three-month low in May amid softer rise in new orders and production.

The Nikkei Markit India Manufacturing Purchasing Managers' Index (PMI) -- an indicator of manufacturing activity -- fell from 52.5 in April to a three-month low of 51.6 in May.

Earlier this week, commerce & industry minister Nirmala Sitharaman had said that a manufacturing policy would soon be overhauled with the objective of creating more jobs in an environment where technology is rapidly replacing labour.

The new manufacturing policy will be rolled out in September to coincide with the third anniversary of Make in India and will aim to take the share of manufacturing to a fourth of GDP from the current level of 16-17 percent, the minister added.

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter