【Mumbai】Bit by bit, India's export basket is tilting in favour of high value-added sectors such as automobiles, pharmaceuticals and capital goods. And, away from traditional manufacturing exports such as textiles and gems & jewellery.
The latter now account for less than a quarter of total merchandise exports (23.6 per cent), down from 39.2 per cent in 2002-03. In this period, the combined share of engineering goods, including automobiles (transport equipment), capital goods and pharmaceuticals (including basic chemicals and cosmetics) rose to 30.7 per cent from 26 per cent in FY03, according to Reserve Bank data. In 2012-13, India exported $27 billion worth of chemicals, pharmaceuticals and cosmetics, just a tad below textile and garment export revenue of $27.5 bn.
○HSBC India manufacturing PMI jumps to 51.4 in Jan
【New Delhi】Activities in the manufacturing sector have picked up in January. This is reflected in HSBC's India Manufacturing Purchasing Manager Index (PMI) which rose to 51.4 in January against 50.7 in December.
This survey is conducted every month among managers of 500 companies. Results of the survey indicated that the latest reading was the highest since March 2013. However, the expansion is marginal and still well below the average reading of 55.1.
○Over 20 lakh jobs created in MSME sector since 2008-09: Govt
【New Delhi】Since 2008-09, more than 20 lakh persons were provided jobs under the Prime Minister's Employment Generation Programme (PMEGP), the Ministry of Micro, Small and Medium Enterprises (MSMEs) has said.
Under the scheme, the government released Rs. 5,381.63 crore to provide credit-linked subsidy to boost self-employment as well as wage employment through setting up of micro-enterprises in the non-farm sector. Since 2008-09, more than 2.33 lakh projects have been assisted, the MSME Ministry said.
Higher-end shift in export basket
HSBC India manufacturing PMI jumps to 51.4 in Jan
Over 20 lakh jobs created in MSME sector since 2008-09: Govt
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