MANUFACTURING JOBS
Women in India face a jobs crisis. Are factories the solution?
As international brands limit their dependence on China by shifting some manufacturing to India, the trend holds the potential to generate significant numbers of manufacturing jobs - especially for women, who have largely been excluded from the ranks of formal Indian employment.
ArcelorMittal shelves plan to close S.African steel plant
"The board and management have decided that the longs (steel) business will continue to operate to allow an opportunity for the short, medium and longer-term initiatives aimed at securing its sustainability, to be fully explored," ArcelorMittal South Africa said in a trading update.
Record upturn in job creation drives India's manufacturing PMI to 58.3 in June
Activity in India's manufacturing sector rebounded last month with an increase in output driven by robust demand, leading to the fastest rate of hiring in over 19 years despite ongoing inflationary pressures, according to a survey.
How to fix skilling the competition
Legislation is needed to bring parity in working conditions among blue- and white-collar workers. Where this is not possible - for instance, in construction - wages must adjust to the harshness of outdoor work. Industry also has to commit more towards tenure of employment for manual labour in order to draw in a newer generation of workers.
Leather, footwear exporters seek PLI scheme in Budget to boost jobs, manufacturing, shipments
The Council for Leather Exports (CLE) urged the government to extend the Production-linked Incentive (PLI) scheme for the leather and footwear sector to boost job creation and manufacturing. At a pre-budget meeting, CLE Chairman Rajendra Kumar Jalan also requested import duty exemptions on wet blue, crust, and finished leather to enhance competitiveness.
India business activity rises in June, job creation at 18-year high
India's business activity expanded at a faster pace this month than in May, thanks to gains in manufacturing and services. The pace of job creation was at its strongest in over 18 years, marking a strong start to the country's economy this financial year. HSBC's flash India Composite Purchasing Managers' Index rose to 60.9 in June, marking nearly three years above the 50-level separating growth from contraction.
- Go To Page 1
Get on the job of jobs
A thorough assessment of historical and current employment trends across sectors leads to a deeper dive into complexities of jobless growth. Mapping out the strengths and weaknesses of each sector is crucial for formulating strategies to enhance job-creating potential. In addition to understanding the employment-generation capacities of different sectors, India's low labour force participation rate (LFPR) poses a significant challenge.
View: Manufacturing isn’t about jobs but key to balancing trade deficits, securing geopolitical security
In a famous barnstorming speech, then-US senator Richard Nixon, battling charges of embezzlement of election funds, made an emotional appeal to voters by invoking his modest background and declaring his intention to retain his dog Checkers. This speech, known as the Checkers Speech, is a storied instance of the straw man phenomenon in the US political history.
India's electronic manufacturing likely to double in the next five years: Govt sources
India's electronic manufacturing is likely to double in the next five years, according to sources in the Ministry of Electronics and Information Technology. The country's electronic manufacturing is likely to reach around USD 250 billion in the next 5 years, said a source in the ministry.
Informal manufacturing and services gained during FY23, trade share declined: Govt data
The gross value added of unincorporated manufacturing companies increased by 19.14% to ₹3.6 lakh crore in 2022-23 (October-September) compared with ₹2.77 lakh crore in 2021-22 (April-March), data released by the Ministry of Statistics and Programme Implementation showed.
S&P 500, Nasdaq close at record highs as data supports Fed easing
S&P 500 and Nasdaq hit record highs on Wednesday fueled by tech stocks amid expectations of Fed's easing cycle, impacting various sectors and economic indicators.
Boeing CEO Dave Calhoun to testify before US Senate panel on June 18
Outgoing Boeing CEO Dave Calhoun will testify before a U.S. Senate panel on June 18 regarding safety and quality concerns, including the capped production of the 737 MAX.
Wall Street stocks end slightly higher as weak jobs data supports rate cut
U.S. stocks rose on Tuesday as labor market data hinted at a Fed rate cut. Axos Financial dropped after Hindenburg Research shorted the stock.
US stocks slip in choppy trading after weaker jobs data
Oil companies Exxon Mobil and Chevron dropped 2.3% and 1.5%, respectively, as demand concerns weighed on crude prices. Energy stocks led S&P 500 sectoral declines with 1.5% fall. Small-cap stocks, typically more sensitive to economic expectations, declined 1.2%, while the rate-sensitive real estate sector gained 0.9%.
Gold prices today: Yellow metal opens at Rs 72,160 per 10 grams, silver at Rs 92,099 per kg
Gold and silver gained after disappointing U.S. manufacturing PMI data and weakness in dollar index. In international markets, gold and silver futures settled higher.
Rising heat cools mfg PMI to 3-mth low as input costs bite
Manufacturing activity decreased to 57.5 in May from 58.8 in the previous month due to heatwaves and rising costs, as per a private survey by HSBC. The sector saw a softer rise in new orders and output, impacting work hours and production volumes for manufacturing firms.
Manufacturing activity eases to a three-month low of 57.5 in May
The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index remained four points higher than the long-run average, with exports helping drive momentum.
India, the choice for global talent?
India's population peaking after developed nations makes it a late entrant into the migrant labour market. However, it offers opportunities for foreign workers in high-end manufacturing, services, and the knowledge economy, bridging the domestic skills gap and smoothing India's economic transition to an age-dependency demographic. A structured immigration policy can speed up development and climb the value chain in manufacturing and services faster.
Indian economy likely grew at weakest pace in a year in Jan-March, says Reuters poll
India's economy likely experienced its slowest growth in a year during the January-March quarter, attributed to weak domestic demand, according to a Reuters poll of economists. This follows a surprising 8.4% GDP growth in the October-December quarter, boosted by a sharp drop in subsidies that artificially increased net indirect taxes, while gross value added (GVA) grew by 6.5%. For the January-March period, GDP growth is expected to have slowed to 6.7%, with GVA growth at 6.2%.
Industrial policy is back. Is this what India needs for an ‘atmanirbhar’ economy?
Mere rise in GDP growth numbers are not enough. What India needs to become a global manufacturing powerhouse is a well-outlined policy that gets the wheel spinning on job creation, skills and holistic growth — especially as the world tilts towards protectionism.
Leather exporters seek national policy to attract investments, create jobs, boost shipments
CLE Executive Director R Selvam said that the sector needs a national policy as it is a labour-intensive sector, which employs about 4.4 million, with over 85 per cent women.
Private sector activity gathers pace in May, job creation highest in 18 years
India's private sector activity surged in May, marking the third strongest increase since July 2010, as per a private survey. The HSBC Flash India Composite Output Index climbed to 61.7, with both manufacturing and services sectors showing robust expansion. New export orders reached their highest level since September 2014. While manufacturing activity slightly eased, services sector growth accelerated to its fastest pace in four months.
India May business growth robust as exports rise at record pace, PMI shows
HSBC's flash India Composite purchasing managers' Index , compiled by S&P Global, rose slightly to 61.7 this month from April's final reading of 61.5, marking the 34th month above the 50-level separating growth from contraction.
JSW Cement to invest Rs 3,000 crore to set up new cement manufacturing unit in Rajasthan
JSW Cement, a part of the $24.25-billion JSW Group, plans to invest Rs 3,000 crore in a new cement manufacturing facility in Rajasthan's Nagaur district. It will be funded by a mix of debt and equity. The facility will have clinkerization, grinding units, an 18 MW waste heat recovery-based power generation system. It is expected to create over 1,000 job opportunities.
JSW Cement to invest Rs 3,000 cr to set up manufacturing facility in Nagaur, Rajasthan
JSW Cement plans to invest around Rs 3,000 crore to establish a cement manufacturing facility in the Nagaur district of Rajasthan. The greenfield facility will include a clinkerization unit and a grinding unit, with an 18 MW waste heat recovery-based power generation system. The investment is expected to create over 1,000 job opportunities and includes a 7-km overland belt conveyor for transporting limestone from mines to the plant.
India needs to create 115 million jobs by 2030, research shows
India needs to create 115 million jobs by 2030 to boost services and manufacturing for economic expansion. The country must generate 16.5 million jobs annually, 10.4 million from the formal sector, to address high youth unemployment and low labor force participation rate.
Biden's China tariffs are the end of an era for cheap Chinese goods
Biden's decision this past week to codify and escalate tariffs imposed by Trump made clear that the United States has closed out a decades-long era that embraced trade with China and prized the gains of lower-cost products over the loss of geographically concentrated manufacturing jobs. A single tariff rate embodies that closure: a 100% tax on Chinese electric vehicles, which start at less than $10,000 each and have surged into showrooms around the world but have struggled to crack government barriers to the U.S. market.
Biden sharply hikes US tariffs on Chinese chips, cars & other items worth billions
President Joe Biden announced a significant increase in tariffs on various Chinese imports, including electric vehicles and medical products, to address what the White House deems unfair trade practices. The move aims to bolster U.S. economic security but risks straining relations with Beijing ahead of the upcoming election.
The White House’s green trade war is just getting started
The latest US actions reflect a strategic shift in trade policy and considerations of carbon dumping, EU engagement, and national security implications.
Load More
