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.
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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