Manufacturing sector witnesses growth for the 4th straight month
The Dollar Business Bureau India’s manufacturing sector recorded growth consecutively for the fourth month in April, but the rate remained unchanged compared to the previous month, as increase in new orders was balanced by moderate rise in production, according to a survey. The Nikkei Markit India Manufacturing PMI (Purchasing Managers’ Index) — a manufacturing activity indicator — matched with 52.5 reading of March. However, the growth was most evident in order books since October last year and fresh export orders surged for the third straight month when the growth rate eased from March. Recording contraction post-demonetisation, the manufacturing sector witnessed growth for the fourth straight month in April. A reading on PMI above 50 shows expansion, whereas a score below that mark indicates contraction. “Buoyant domestic demand coupled with sustained growth of ...
Second line of production for LCA in the pipeline: Parrikar
The Dollar Business Bureau At the inaugural of Aero India 2017, an International Aerospace and Defence Exhibition, Defence Minister Manohar Parrikar announced the government's plans to providing impetus to an indigenous production of defence aircraft. In particular, the government has sanctioned expenditure of Rs 359 crore to set up a second line of production for Light Combat Aircraft (LCA) Tejas. While this project is likely to commence in three months, the production process shall take a year and a half to get rolling. The Defence Minister also said that Hindustan Aeronautics Ltd (HAL) has been asked to augment production in various sectors by outsourcing in 'large quantities'. The government has also discussed the export potential of LCA Tejas with Hindustan Aeronautics Ltd and Indian Air Force, in its bid to touch the targeted $2 billion export mark for the defence sector. Parrikar, in order to align the ...
DGAD initiates sunset review on anti-dumping duty on the imports of synthetic filament yarn
The Dollar Business Bureau In accordance with the anti-dumping duty Act, the DGAD has initiated a sunset review to examine whether the termination of anti-dumping duty on the imports of synthetic filament yarn from China PR, Chinese Taipei, Malaysia, Indonesia, Thailand and Korea RP, is likely to lead to continuation or recurrence of dumping causing injury to the Indian manufacturers of the product. The product includes all variants of Nylon Filament Yarn used in varied textile applications. The Authority will examine whether the continued imposition of the duties is necessary to offset dumping and whether the dumping and injury would be likely to continue or recur if the duty were removed or varied. It should be recollected that the DGAD had imposed anti-dumping ...
