Manufacturing for Q4 FY24 projected a steady future investment outlook; however, industry respondents identified some major obstacles going forward, including the availability of raw materials and their rising prices, the unpredictability of global demand, the lack of skilled labor, market volatility, increased power costs, unutilized capacities, and high bank interest rates.
It was discovered that in contrast to 73% in the prior quarter, 85% of respondents in the current fourth quarter of the fiscal year 2023–24 anticipate more orders. It is anticipated that the employment situation will stay unchanged, as over 40% of participants intend to add more employees within the next three months.
The current digital FAME process takes a long time—typically five to six months—as does the processing of FAME subsidy requests. Manufacturers of original equipment would profit from streamlining this procedure (OEMs).
A total of more than Rs 3.4 trillion is generated annually by 400 industrial units, spanning the major and small and medium enterprise (SME) divisions.