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India’s manufacturing sector growth fell to an 8-month low in September, with the PMI dropping to 56.5 from 57.5 in August. Slower export demand, rising input costs, and weaker profit margins have affected growth and hiring.

India's Manufacturing Sector Growth Drops To An 8-Month Low: PMI Slips To 56.5  In September

India&rsquo;s manufacturing sector growth fell to an 8-month low in September, with the PMI dropping to 56.5 from 57.5 in August. Slower export demand, rising input costs, and weaker profit margins have affected growth and hiring.

India's manufacturing sector growth fell to an eight-month low in September amid softer increase in factory production, sales and new export orders, a monthly survey said on Tuesday.
The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in August to 56.5 in September, registering the weakest pace of growth since January.
In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
"Momentum in India's manufacturing sector softened in September from the very strong growth in the summer months.
"Output and new orders grew at a slower pace, and the deceleration in export demand growth was especially evident as the new export orders PMI was the lowest since March 2023," Pranjul Bhandari, Chief India Economist at HSBC, said.
The September PMI data revealed a mild setback in manufacturing growth across India. For the third straight month, rates of expansion in factory production and sales receded. Moreover, international orders rose at the slowest pace in a year-and-a-half.
On the price front, there were moderate increases in input costs and selling charges.
As a result of rising purchasing prices, as well as greater labour costs and favourable demand conditions, Indian manufacturers marginally increased their charges in September.
According to Bhandari, input prices rose at a faster rate in September, while factory gate price inflation eased, intensifying the compression on manufacturers' margin.
"Weaker profit growth might have an impact on companies' hiring demand, as the pace of employment growth slowed for a third month," Bhandari noted.
Hiring growth also receded in September, reflecting a reduction in the number of part-time and temporary workers.
Going ahead, the overall level of business confidence fell to its lowest since April 2023. Around 23 per cent of Indian manufacturers forecast output growth in the year ahead, while the remaining firms predict no change.
The HSBC India Manufacturing PMI is compiled by S&amp;P Global from responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers.&nbsp;

As the rate of inflation eases to the lowest in 40 months along with the strengthening client demand and more favourable input supply, the Manufacturing PMI for November has risen to 56

November manufacturing PMI rises to 56 as inflationary pressure retreat

<h2>As the rate of inflation eases to the lowest in 40 months along with the strengthening client demand and more favourable input supply, the Manufacturing PMI for November has risen to 56</h2>

Manufacturing PMI:&nbsp;The manufacturing sector has continued to do well in November with PMI rising to 56. After slowing a bit in October, the growth gathered pace as strengthening client demand and more favourable input supply boosted production volumes.&nbsp;
A reading of over 50 indicates expansion, while that of below 50 denotes contraction.
<h3>Inflationary pressure retreat</h3>
The inflationary pressure has retreated as the rise in purchase cost was modest in the month. This compared to the series of price rise that started in August 2020. Although average purchasing costs rose again, the rate of inflation eased to the lowest in the current 40-month sequence of increases.
Also Read: <a href="https://www.editorji.com/business-news/india-s-manufacturing-activity-hits-three-month-high-in-august-pmi-rises-to-58-6-1693559123351">India's Manufacturing Activity Hits Three-Month High In August, PMI Rises To 58.6</a>
The rise in cost has translated into increased selling prices. Pollyanna De Lima, Economics Associate Director at S&amp;P Global Market Intelligence noted that Firms' ability to secure new business, both domestically and from abroad, remained central to the success of the sector
As per PTI, the strong performance of the manufacturing sector is expected to continue in 2024 as well.&nbsp;

India's manufacturing PMI expands to 57.2 in April indicating expansion in manufacturing activity for the 22nd consecutive month

India's manufacturing PMI continues to grow; rise to 57.2 in April

India's manufacturing PMI expands to 57.2 in April indicating expansion in manufacturing activity for the 22nd consecutive month

India's manufacturing PMI has expanded to 57.2 in April from 56.4 in March. This comes as the 22nd month of manufacturing PMI remaining above 50.
A PMI reading of above 50 indicates expansion in manufacturing and below represents contraction. &ldquo;Several indices pointed to more favourable operating conditions across India's manufacturing industry in April. Factory orders and production rose at the strongest rates in 2023 so far, companies stepped up input purchasing owing to stock-replenishment efforts," said&nbsp; S&amp;P Global's survey.
As per Business Standard, holdings of finished products decreased in April and the pace of depletion was moderate, though the fastest in four months. Wherever a contraction was signaled, monitored firms mentioned that sales had been fulfilled from warehoused items.
As per S&amp;P Global, Factory order and production rose at the strongest rates in 2023 so far. More jobs were created and more companies stepped up input purchasing owing to stock-replenishment efforts.&nbsp;

 Foxconn plans $700m investment in new plant to increase iPhone production in India

&nbsp;Foxconn plans $700m investment in new plant to increase iPhone production in India

Foxconn Technology Group, an Apple partner, reportedly plans to invest approximately $700 million in a new plant in Karnataka, India, to increase local production of iPhone parts. The plant is expected to be located near the Bangalore airport on a 300-acre site and may also assemble Apple's handsets, while some parts for Foxconn's electric vehicle business may also be produced there.
This investment by Foxconn is one of the biggest single outlays to date in India and reflects a growing trend of shifting manufacturing away from China due to Washington-Beijing tensions. The new production site is expected to generate around 100,000 jobs. The Indian government sees this investment as an opportunity to bridge the technology gap between India and China as Western investors and corporations begin to avoid Beijing's private sector crackdowns. &nbsp;

As US-based tech giant Apple moves some of its production from China, 
Earlier this month, Apple Inc unveiled its latest iPhone series -- the iPhone 14 models - with an improved camera, powerful sensors and satellite messaging feature to send SOS texts in emergencies. The new lineup has four models: iPhone 14, Plus, Pro and ProMax.
According to sources, the Made-in-India iPhone 14 will begin to reach local customers in the next few days. Phones manufactured in India will be both for the Indian market and exports.

Apple to manufacture iPhone 14 in India, guess the state 

Apple to move about 5% of iPhone 14 production from late 2022 to India, which is the world's second-biggest smartphone market after China&nbsp;

As US-based tech giant Apple moves some of its production from China, it has confimed that it will manufacture its latest iPhone 14 in India.&nbsp;
According to reports, the Made-in-India iPhone 14 will begin to reach local customers in the next few days. Phones manufactured in India will be both for the Indian market and exports.
The iPhone 14 will be shipped from Foxconn's Sriperumbudur facility on the outskirts of Chennai. Foxconn is the world's largest contract electronics manufacturer and major iPhone assembler.
Earlier this month, Apple unveiled its latest iPhone series -- the iPhone 14 models - with an improved camera, powerful sensors and satellite messaging feature to send SOS texts in emergencies. The new lineup has four models: iPhone 14, Plus, Pro and ProMax.
In keeping with this goal, Apple has expanded its manufacturing plans in India including setting up App Design and Development Accelerator in Bengaluru and other programmes with local organisations to support renewable energy and training.
India's vibrant market is turning out to be the sweetspot for the US tech giant, as the company reported a "near doubling" of revenue in the country in the quarter ended June 2022.

India's growth engine is starting to slow down again with covid&nbsp;cases continuing to spike. With barely new orders in the manufacturing side, growth of orders and production saw the slowest growth in 8 months.&nbsp;India's manufacturing PMI remained at 55.5 mark in April which marks an expansion but also is the slowest rate of growth since September last year.&nbsp;Forecasters at IHS Markit that compile the data warned that "the surge in COVID-19 cases could dampen demand further when firms' financials are already susceptible to the hurdle of rising global prices."

Economy hit Déjà vu, factory orders rise at slowest rates in 8 months

Factory orders rise at slowest rates in 8 months in April as rising covid and increased lockdowns&nbsp;across the nation hit the growth engine.&nbsp;

Economy hit 2.0, data gives a Déjà vu as manufacturing slump

<ul>
<li>Factory orders, production rise at slowest rates in 8 months</li>
<li>India manufacturing activity sees sharp slowdown in April&nbsp;</li>
<li>Localised lockdowns&nbsp;as covid surges slow down mfg activitues</li>
<li>IHS&nbsp;warns: Demand in the economy could be hit further</li>
</ul>

India's growth engine is starting to slow down again with covid&nbsp;cases continuing to spike. With barely new orders in the manufacturing side, growth of orders and production saw the slowest growth in 8 months.&nbsp; India's manufacturing PMI remained at 55.5 mark in April which marks an expansion but also is the slowest rate of growth since September last year.&nbsp; Forecasters at IHS Markit that compile the data warned that "the surge in COVID-19 cases could dampen demand further when firms' financials are already susceptible to the hurdle of rising global prices."

The covid surge is set to delay the recovery in the economy and indicators are already coming in. Factory output as measured by the manufacturing PMI hit a 7-month low in March.
The Nikkei Manufacturing Purchasing Managers&rsquo;&nbsp;Index&nbsp;of 55.4 last month from February's 57.5, even though for the last 8 months the index indicates an expansion, the pace of growth is slowing.&nbsp;
IHS Markit that compiles the index highlighted that with COVID-19 restrictions expanded and lockdown measures re-introduced in many states, Indian manufacturers look set to experience a challenging month in April.

Covid lockdown set to delay recovery, PMI clocks in at 7 month low

The covid surge is set to delay the recovery in the economy and indicators are already coming in. Factory output as measured by the manufacturing PMI hit a 7-month low in March.
 The Nikkei Manufacturing Purchasing Managers&rsquo;&nbsp;Index&nbsp;of 55.4 last month from February's 57.5, even though for the last 8 months the index indicates an expansion, the pace of growth is slowing.&nbsp;
 IHS Markit that compiles the index highlighted that with COVID-19 restrictions expanded and lockdown measures re-introduced in many states, Indian manufacturers look set to experience a challenging month in April.

The covid surge is set to delay the recovery in the economy and indicators are already coming in. Factory output as measured by the manufacturing PMI hit a 7-month low in March.
 The Nikkei Manufacturing Purchasing Managers&rsquo;&nbsp;Index&nbsp;of 55.4 last month from February's 57.5, even though for the last 8 months the index indicates an expansion, the pace of growth is slowing.&nbsp;
 IHS Markit that compiles the index highlighted that with COVID-19 restrictions expanded and lockdown measures re-introduced in many states, Indian manufacturers look set to experience a challenging month in April.

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