ENA Economy 2024-02-12 14:09:17 <p><span style="font-size:14px"><strong>New Delhi, Feb 12 (KNN)</strong> The Federation of Indian Chambers of Commerce and Industrys (FICCI) latest Quarterly Survey on Manufacturing (QSM) has delved into the sentiments of manufacturers for the fourth quarter of Jan-March 2023-24 across ten major manufacturing sectors.</span></p> <p><span style="font-size:14px">Highlighting a notable trend, the survey revealed a sustained and consistent growth trajectory for India's manufacturing sector in the last two quarters of 2023-24.</span></p> <p><span style="font-size:14px">In comparison to the preceding quarter, Q3 FY 24, where 73 per cent of respondents reported increased production levels, the current Q4 FY 2024 demonstrates even more optimism, with approximately 87 per cent of respondents anticipating either higher or similar production levels.</span></p> <p><span style="font-size:14px">The survey garnered responses from over 400 manufacturing units, representing both large and Small and Medium Enterprises (SME) segments, boasting a combined annual turnover exceeding Rs 3.4 lakh crores.</span></p> <p><span style="font-size:14px">In terms of exports, the survey indicates promising figures. While about 31 per cent of respondents reported higher exports in Q3 FY 2024, over 40 per cent anticipate increased exports in Q4 2023-24 compared to similar quarters in the previous year.</span></p> <p><span style="font-size:14px">Certain sectors, notably Electronics &amp; Electricals and Machine Tools, are poised for robust growth, reflecting positive sectoral outlooks.</span></p> <p><span style="font-size:14px">Moreover, the survey underscores that many sectors are not grappling with labour shortages. A significant majority, comprising 62 per cent of respondents, stated no issues with workforce availability.</span></p> <p><span style="font-size:14px">However, 38 per cent still perceive a lack of skilled labour in their respective sectors.</span></p> <p><span style="font-size:14px">Overall, with responses drawn from a diverse range of manufacturing units, the survey paints a picture of continued growth momentum in India's manufacturing sector, underlining its resilience and promising prospects in the face of challenges.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 36667 https://knnindia.co.in/news/newsdetails/economy/indian-manufacturing-sector-sees-continued-growth-momentum-ficci 2024-02-12 14:09:17 knnindia.co.in