Capital goods News

The cumulative growth for the period April-November 2018 over the corresponding period of the previous year stands at 5.0 percent.

The new rules target toys, electronic goods, machinery, food processing, construction and chemicals, sectors dominated by China, and come amid greater scrutiny of mainland firms looking to enter India's multi-billion dollar power transmission and telecoms business.

All the three monitored sub-sectors posted substantial recoveries, with capital goods outperforming its consumer and intermediate goods counterparts in terms of production growth rates, the survey said.

Tata Motors on Wednesday said it has reduced its managerial workforce by up to 1,500 people domestically as part of an organisational restructuring exercise.

The Benchmark Sensex ended the week green, gaining 113.78 points to finish at 28,946.23, while the broader Nifty closed above the key 8,900-level, trending on BJP-gains in exit poll positions.

Government will soon come out with a comprehensive capital goods policy to create an ecosystem for a globally competitive sector leveraging concepts such as smart manufacturing, automation and IoT.

Domestic equities reversed early losses to jump for a second straight session on gains in capital goods and banking shares as global signals remained positive on rebound in crude oil prices.

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The policy envisages increasing exports to 40 percent of production, from the current 27 percent, while increasing the share of domestic production in India's demand to 80 percent from 60 percent, potentially making India a net exporter of capital goods.

What is even more pleasing is a huge 16.1 percent growth in capital goods, reflecting revival in investment cycle and a robust expansion of 9 percent in electricity generation, which follows solid improvement in coal production.

The Heavy Industries Ministry has set up a task force to sketch out a road map for the country's capital goods sector.

Government has sought suggestions on a draft paper to frame policy on the capital goods industry, envisioning an increase in its contribution from 12 percent at present to 20 percent of the total manufacturing activity in the country by 2025.

Sensex Friday erased early gains and ended sharply down by over 427 points on selling in capital goods, banking, FMCG and power stocks after rise in retail inflation hit hopes of aggressive rate cuts.

A benchmark index of Indian equities markets, the 30-scrip BSE Sensitive Index (Sensex), was trading flat in the late afternoon session on Thursday.

Showing signs of recovery, industrial production grew at three-month high of 2.5 percent in September, mainly on account of better mining and manufacturing output and larger offtake of capital goods.

This scheme, on its implementation, would attempt to make the Indian capital goods sector globally competitive.