According to Confederation of Indian Industry (CII) - ASCON survey, 41 out of 121 sectors in the manufacturing industry are estimated to grow at 20 per cent or more in 2010-11 as against 34 sectors that had reported such growth during 2009-10; the top performers being air conditioners, tractors, fertilisers, construction equipment, tyres, et al.
India has emerged as one of the world's top ten countries in industrial production as per UNIDO's new report titled 'Yearbook of Industrial Statistics 2010'.
The country ranked second in terms of manufacturing competence, according to report '2010 Global Manufacturing Competitiveness Index', by Deloitte Touche Tohmatsu and the US Council on Competitiveness. The report states that the country's talent pool of scientists, researchers, and engineers, together with its English-speaking workforce and democratic regime make it an attractive destination for manufacturers.
The industrial output registered a robust growth of 8.6 per cent year-on-year (y-o-y) in April-December 2010-11. Among the three major constituents of the IIP, mining and manufacturing recorded higher growth rates of 7.7 per cent and 9.1 per cent respectively during the period. The third constituent electricity index registered 4.7 per cent growth in April-December 2010-11.
As per the Industrial Outlook Survey conducted by the Reserve Bank of India (RBI) for October-December 2010 quarter the Indian manufacturing sector showed positive overall business sentiment in the quarter. The business expectation index (BEI), which acts as a barometer of the overall health of the manufacturing sector, has gone up to 126.5 for the assessment quarter, its highest reading since the April-June 2007 quarter.
The seasonally adjusted HSBC Purchasing Managers’ Index (PMI) – a headline index designed to measure the overall health of the manufacturing sector – posted 57.9 in February 2011, up from 56.8 in January 2011. The latest reading indicated a marked expansion of the Indian manufacturing sector which was spurred by new order inflows as per the data released by HSBC Holding Plc and Markit Economics.
Exports from special economic zones (SEZs) grew by 46.7 per cent y-o-y Rs 2,23,132 crore (US$ 49.09 billion) during April-December 2010-11, informed Minister of State for Commerce and Industry Jyotiraditya Scindia.
As part of its strategy of innovative denim products, Arvind Ltd. has tied up with Birla Cellulose to exclusively produce excel denim fabric. Two of India's largest textile conglomerates, Birla and Arvind will be working on excel denim fibre and fabric, respectively.
Pune-based Garware group is set to form a joint venture with the South Korean S&T to manufacture and sell motorcycles in India. The company already assembles and sells S&T’s Hyosung heavy bikes in India. "S&T is keen to enter India. We plan a manufacturing JV by mid-2012," Diya Garware, m anaging director,Garware Motors told HT. "If and when the JV is formed we will enter the 250-cc segment."
Diversified industrial group Mahindra & Mahindra has begun work on its seventh tractor plant at Zaheerabad in Andhra Pradesh with a capacity of 100,000 units a year. It would invest Rs 300 crore (US$ 66 million) in the facility spread over 100 acres, and expects to commence production in 2012.
Nestle India has inaugurated a new manufacturing plant at Nanjangud in Mysore district, Karnataka. The plant, set up with an investment of Rs 360 crore (US$ 79.2 million), will manufacture a range of culinary products.