Saturday, 23 September 2017

Steel and Manufacturing Industries

intraday trading tips

The director of Sarda Energy and Minerals, Manish Sarda recently informed about the latest happenings in his company and sector. He stated that the overall slide that we are seeing in the metals index is primarily due to the export refund issue which is going on. A lot of money got stuck in the system. Due to this exports are getting hampered. The Domestic steel prices are at a discount to international steel prices, he added. Compared to international prices, NMDC iron ore prices are still cheaper.

On the other hand, the manufacturing Industries are contributing well in Gross Domestic Product of India. The Manufacturing can be defined as a conversion of raw materials or chemicals into products with the help of machines, tools, and equipment on a large scale. The sector has come out as the most powerful sector in India. It plays the prominent role in growing and developing India.

As we know, the manufacturing sector is growing at high rates by itself, but the Prime Minister of India has also taken few intellectual steps to boost the sector at its best. In this loom, India’s economy will surely get global acknowledgment. “Make in India” is one of the intellectual steps taken by the government to heighten the sector and to represent India as a manufacturing hub on a world map. 
In India, there are two types of manufacturing sectors. One is primary sector and other is a secondary sector of manufacturing.

•    Primary manufacturing industries wrap those industries, which transforms the raw materials into products.
•    Secondary manufacturing industries include heavy, light and high-tech industries.

Several other huge sectors that are wrapped under the manufacturing sector are metallurgical industries, engineering industries, chemical industries, textile industries food processing industries and hi-tech industries.

intraday trading tips
The government of India has set a motivated target of achieving the involvement of manufacturing production by forthcoming financial year to 26 percent of Gross Domestic Product. At present, the contribution of manufacturing industries to GDP is 15.6 percent. India’s manufacturing industries have the knack to achieve the set target and hit USD one trillion by 2025. Talking about the job opportunities, it will provide the 90 million domestic jobs by the same year. The purchasing manager index, PMI is 51.1 as reported in February 2016. The manufacturing sector has really expanded in India due to increasing demand of domestic and foreign because of low prices. The manufacturing sector is not a competitor of the agricultural sector and service sector; instead, it supports and strengthens these sectors. You need to keep track of such important sectors if you want to win over trade. To get accurate intraday trading tips, you need to get in touch with the best NIFTYtips provider.

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