Featured Image

International News From the Field: India

India’s manufacturing PMI for March was 55.4. IMTEX 2021 has been pushed back. There is, however, positive news for electric vehicles. For more details and other industry tidbits, read on.
Apr 26, 2021

India’s manufacturing PMI for March was 55.4 as the sector continues to hold its own. A new wave of the pandemic is of major concern as the numbers surge across the country of almost 1.4 billion people. As a result, several state governments have reimposed partial lockdowns, with stricter measures anticipated to be implemented soon. Due to health concerns, IMTEX 2021 has been pushed back to next January. There is, however, positive news in the electric vehicle realm. For more details and other industry tidbits, read on.

  • The manufacturing PMI for March was 55.4 versus 57.5 in February. The service PMI was 54.6 versus 55.30 in February. Although there was a month-to-month decline, both numbers continue to indicate strong economic activity. 

  • Due to health concerns, the Indian Machine Tool Manufacturers’ Association (IMTMA) postponed IMTEX 2021, which is focused on metal cutting, from June 2021 to next January 2022. For the first time, it will be held in conjunction with the IMTEX metal-forming show. The combined show will take place Jan. 20-25, 2022, in Bangalore. AMT will continue to host a pavilion for members interested in exhibiting.

  •  In 2020, the wholesale auto industry saw a decline in vehicle sales from manufacturers to their dealers. Sales ended the year at 18.6 million, down from 21.5 million in 2019.

  •  Mahindra Electric, part of the multi-billion-dollar Mahindra Group, will invest around $450 million over the next three years to enhance their electric vehicle (EV) production capabilities. The company presently produces several four-wheel and three-wheel EV models.

  •  Hero Electric, India’s first and largest producer of electric two-wheelers, will invest $100 million to increase their manufacturing plant capacity in Ludhiana, Punjab.

  • The government has approved $1 billion worth of Production Linked Incentive (PLI) schemes for the air conditioner and LED lighting segments. 

PicturePicture
Author
Arun Mahajan
General Manager - AMT India Operation
Recent international News
India ended 2021 with a bang. The Purchasing Managers’ Index registered 55.5 for the month of December. Moving into 2022, opportunities abound. From EVs to microchips, from defense to off-road, from renewable energy to steel, India means business ...
India’s manufacturing PMI continues to climb as they head to a strong end-of-year performance. The medical, EV, and appliance industries all have staggering growth projections for upcoming years. With the IMTEX show less than two months away, ...
This week’s news from India is, quite frankly, great. The GDP growth for the year will approach double digits, and the manufacturing PMI remains in the mid-50s. The investments in defense manufacturing are staggering and wide open for FDI. ...
There is lots of good news to report from India, not the least of which are the economic stats. The manufacturing PMI remains healthy at 52.3, and the GDP is still projected to grow by 9% in 2021. In a recent C&W report, India ranked No. 2 in the world ...
India’s industry is humming along at a pre-pandemic pace, if not better. The PMI is above 55. Vehicle sales are up 34% YOY, with commercial vehicles up 165%. The new Vehicle Scrappage Policy was launched, which will attract billions of dollars in new ...
Similar News
undefined
Technology
By Peter R. Eelman | Jan 18, 2022

We sincerely wish you a year filled with happiness, health, and prosperity! While we don't feature content to enhance your personal happiness, every even-numbered year we host the Western hemisphere's largest manufacturing technology event, IMTS ...

5 min
undefined
International
By Arun Mahajan | Jan 07, 2022

India ended 2021 with a bang. The Purchasing Managers’ Index registered 55.5 for the month of December. Moving into 2022, opportunities abound. From EVs to microchips, from defense to off-road, from renewable energy to steel, India means business ...

5 min
undefined
International
By Hubert Sawicki | Dec 23, 2021

While efforts are being made to fight for the protection of health amid the ongoing crisis, inevitably draining a lot of resources, many European countries in the European Union and beyond have not forgotten about future needs.

7 min