Mfg investments shrink 58%
59 Part-B filings of industrial entrepreneurial memorandums (IEMs) with investment of Rs11,850 cr reported in last Jan fell 8.3% from 64 online filings of IEM Part-B with total investment of Rs28,432 cr in Jan 2022
image for illustrative purpose
New Delhi Manufacturing continues to show a declining trend with actual investment in January this year coming down more than 58 per cent on a year-on-year (y-o-y) basis. In January, 59 Part-B filings of industrial entrepreneurial memorandums (IEMs) with investment of Rs11,850 crore were reported, official sources told Bizz Buzz.
In January 2022, there were 64 online filings of IEM Part-B, with total investment of Rs28,432 crore, showing a fall of 58.3 per cent.
While Part-A filings of IEMs pertain to the intentions to invest, Part-B filings are done after commencement of operations. Last year, 916 Part-B filings of industrial entrepreneurial memorandums (IEMs) with investment of Rs250,064 crore reported implementation as compared to 812 IEMs with investment of Rs347,978 crore in 2021, a dip of 28 per cent.
In terms of Part-A filing in January, 109 IEMs were reported with a total proposed investment of Rs10,565 crore. Karnataka, West Bengal, and Gujarat the leading states in terms of proposed investment of Rs1,539 crore, Rs1,225 crore, and Rs1,152 crore, respectively.
Investment intentions reflected preference for metallurgical industries, sugar, and the transportation industry with proposed investment of Rs2,111 crore, Rs1,002 crore, and Rs902 crore, respectively.
Manufacturing is emerging as an integral pillar in the country’s economic growth, thanks to the performance of key sectors like automotive, engineering, chemicals, pharmaceuticals, and consumer durables, a government website says. “The machine tool industry was literally the nuts and bolts of the manufacturing industry in India. Today, technology has stimulated innovation with digital transformation a key aspect in gaining an edge in this highly competitive market.”
With technology encouraging creativity and digital transformation becoming a critical element to gain a competitive edge, domestic manufacturing is steadily moving toward more automated and process-driven manufacturing, the sources said, adding that this is projected to improve efficiency and enhance productivity.
Mfg At Low Ebb
- Actual investments fell 28% in 2022
- 916 Part-B filings of IEMs with investment of Rs250,064 cr reported in 2022
- 812 IEMs with investment of Rs347,978 cr in 2021
- Karnataka, West Bengal, and Gujarat lead Part-A filings
