Sunday, April 18, 2021
Home Business Manufacturing Sector Witnessed Recovery During Q3 Of 2020-21

Manufacturing Sector Witnessed Recovery During Q3 Of 2020-21

Higher output during July-September rose to 24 percent

The manufacturing sector witnessed some recovery during the July-September quarter compared to the preceding quarter, according to FICCI’s latest quarterly survey on manufacturing.

The percentage of respondents reporting higher production in the second quarter of 2020-21 increased in recovery compared to the first. The proportion of respondents reporting higher output during July-September rose to 24 percent, as compared to 10 percent in Q1 of 2020-21.

The percentage of respondents expecting low or same production is 74 percent in Q2 2020-21, as against 90 percent in Q1 of 2020-21.

Follow NewsGram on Twitter to stay updated about the World news.

The overall capacity utilization in manufacturing has witnessed a rise to 65 percent as compared to the preceding two quarters. During the first quarter of the current fiscal, manufacturing, other than the essential goods, was nearly halted and in the fourth quarter of FY20, capacity utilization was recorded at 61.5 percent.

Want to read more in Hindi? Checkout: सिविल सर्विसेज में बढ़ा संस्कृत का क्रेज 

The survey, however, found that the future investment outlook is subdued as only 18 percent of respondents reported plans for capacity additions for the next six months as compared to 22 percent in the previous quarter.

Further, high raw material prices, high cost of finance, shortage of skilled labor and working capital, high logistics cost, low domestic and global demand due to imposition of lockdown across all countries to contain the spread of coronavirus along with other factors have been major constraints affecting expansion plans of manufacturing businesses.

ALSO READ: India Trying To Reduce Carbon Footprint By 30-35%

The FICCI survey showed that around 77 percent of the respondents had either more or the same level of inventory in July-September 2020, whereas around 74 percent of the respondents maintained either more or the same level of inventory in the April-June quarter of 2020-21. (IANS)

STAY CONNECTED

19,517FansLike
362FollowersFollow
1,773FollowersFollow

Most Popular

Older Adults More Willing To Help Others As Compared To Younger Adults

New research has found that older adults are more willing to make an effort to help others as compared to younger adults. According to...

Explore The Heritage Of Punjab Through The Lens Of Documentary ‘The Bathinda Fort’

With a view to inspire the younger generation about the glorious historical and cultural heritage of Punjab, senior Advisor to Chief Minister Lt Gen...

Know About The Six Nepali Women Creating A Record Feat

Six Nepali women have reached the top of Mt. Annapurna creating a record feat on the 8,091-metre tall peak, the Himalayan nation's Department of...

Study: Covid19 Likely Not To Effect The Brain Directly

SARS-CoV-2, the virus that causes Covid-19, likely does not directly infect the brain but can still inflict significant neurological damage, a new study suggests....

Explained: The Connection Between Hindus And Yazidis

BY- JAYA CHOUDHARY The Yezidis are the Kurdish religious minorities from countries like Iraq, Syria, Iran, and Turkey. With the news focusing on the culture...

Spiritual Power To Guard, ‘Jai Shri Ram’ Printed Mask More In Demand

As the second wave of covid19 is increasing everywhere especially in Maharashtra and other states. The only possible way to protect yourself is to...

Close Representation Of Women And Men Competing For The First Time In History

UN Women, a United Nations entity for gender equality and women's empowerment, on Friday said that the 2021 Tokyo Olympics will have close to...

What Has Happened To Basic Cricket Intelligence?

The Indian Premier League (IPL) has commenced with a flourish. Cricket has become the entertainment in this scary, dreary, and home-bound alternative that one...

Recent Comments