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Imports of medical device surged in India in fy23-34 to Rs 688.85 billion
This marks a 13% increase, with disposables accounting for nearly 17.6% of the growth.Read more
Auto component industry sees 9.8% rise with Rs 6.14 trillion trade surplus
Domestic component supply to original equipment manufacturers (OEMs) grew by 8.9% to Rs 5.18 trillion, with the electric vehicle (EV) manufacturing sector accounting for 6% of total component production.Read more
Budget 24-25: Customs duty reforms will help manufacturing and promote exports
New customs duty rates are proposed for commodities from lifesaving medicines to rare earth minerals.Read more
DPIIT raises $1.4 billion in tyre investments from global players
The DPIIT has also urged other ministries to take similar steps to promote domestic manufacturing in sectors under their purview, as has been done with toys and tyres.Read more
India aims for $100 billion FDI annually; to attract China interested investors
Giants like Apple and Samsung Electronics have increased their manufacturing presence in India, leveraging incentives provided by Prime Minister Narendra Modi's administration.Read more
China faces plastic overcapacity; strains global trade relations
Some sectors of China's vast petrochemical industry are operating at half capacity as producers scale back.Read more
DGTR launches inquiry for dumping of Chinese guard rails following complaints
If the investigation confirms that dumping has harmed domestic manufacturers, the DGTR will recommend imposing anti-dumping duties on these imports. Read more
India may gain from trade restrictions against China says IMF Chief Economist
The US and EU recently announced higher import duties on some Chinese products and FDI from China is already facing heightened scrutiny in several parts of the world.Read more
India to receive critical mineral access with Australian FTA; lower emissions
Like Australia, India has signed a trade pact with the four-nation European Free Trade Association (EFTA) and Norway is a key member of that grouping.Read more
Focus on incremental reforms
According to a recent report of DSP Mutual Fund, the manufacturing sector's contribution to India's GDP is anticipated to rise from 14 per cent in FY24 to 21 per cent by FY34, bolstered by lower logistics costs and improved infrastructure. Read more