Medical devices - Latest News Update, Information, Photos & Videos on Medical devices at Lokmat Times

New Delhi, March 22 FICCI's latest quarterly survey on manufacturing assessed recovery of the sector for Q-3 (October-December 2020-21) and pointed that it is expected to regain the lost momentum in the Q-4.The percentage of respondents reporting higher production in the third quarter of 2020-21 had increased vis-a-vis the Q-2 of 2020-21. The proportion of respondents reporting higher output during October-December 2020 rose to 33 per cent, as compared to 24 per cent in Q-2 of 2020-21. The percentage of respondents expecting low or same production is 67 per cent in Q-3 2020-21 which was 74 per cent in Q-2 2020-21.FICCI's survey assessed the sentiments for the next quarter (Q-4) for 12 major sectors namely automotive, capital goods, cement and ceramics, chemicals, fertilizers and pharmaceuticals, electronics and electricals, leather and footwear, medical devices, metal & metal products, paper products, textiles, textile machinery, and miscellaneous. Responses have been drawn from over 300 manufacturing units from both large and SME segments with a combined annual turnover of around Rs 5.3 lakh crore.As per the survey, the overall capacity utilization in manufacturing has witnessed a rise to 74 per cent as compared to 65 per cent in previous quarter. The future investment outlook, however, looks slightly better as 30 per cent respondents reported plans for capacity additions for the next six months as compared to 18 per cent in the previous quarter.High raw material prices, high cost of finance, shortage of skilled labour and working capital, high logistics cost, low domestic and global demand due to imposition of lockdown across all countries to contain spread of coronavirus, excess capacities due to high volume of cheap imports into India, lack of financial assistance, uncertain demand scenario across globe, complex procedures for obtaining environmental clearances, high power tariff, are some of the major constraints which are affecting expansion plans of the respondents.The survey indicated that capacity utilisation witnessed a jump in Q3 for automotive, capital goods, electronics and electrical, medical devices sectors such hike it remained slow or subdued in textile and leather sectors.Besides, 78 per cent of the respondents had either more or same level of inventory in October-December, whereas around 79 per cent of the respondents maintained either more or same level of inventory in July-September 2020 quarter of 2020-21.The percentage of respondents expecting increase in exports has increased substantially to 29 per cent when compared to previous quarters during lockdown period, wherein 24 per cent respondents were expecting a rise in exports. Also, 34 per cent are expecting exports to continue to be on the same path as that of same quarter last year.The hiring outlook for the sector also seems to be improving, as 37 per cent against 20 per cent in the previous quarter are planning to hire additional workforce.Based on expectations in different sectors, sectors such as Medical Devices, Chemicals, Fertilizers and Pharmaceuticals, Textile Machinery, Electronics and Electricals, Capital Goods and Metal and Metal Products are likely to register strong growth in Q-3 2020-21, the survey indicated.( With inputs from IANS )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Medical DevicesFOLLOW

Medical devices, Latest News

Business :VIMTA forays into Electrical and Electronics Products Testing

VIMTA Labs, a leading Life Sciences Contract Research and Testing Organization in India, inaugurated its state-of-the-art EMI/EMC Lab at Neovantage Park (MN Park), Genome Valley in Hyderabad. Sets up a world-class Lab for Electrical & Electronics Pro ...

Health :Govt releases draft on National Medical Devices Policy

New Delhi, March 12 The Department of Pharmaceuticals under the Chemicals and Fertilizers ministry has released an Approach ... ...

Health :India largest generic medicine supplier in world: Mandaviya

New Delhi, Oct 27 Union Health Minister Mansukh Mandaviya on Wednesday said that India is the world's largest ... ...

National :Central govt is pro-farmer, industry-friendly: Mansukh Mandaviya

Union Minister Mansukh Mandaviya on Wednesday said that that the BJP-led central government is "pro-farmer and industry-friendly". ...

National :Central govt is pro-farmer but industry-friendly: Union Minister Mansukh Mandaviya

Union Minister Mansukh Mandaviya on Wednesday said that that the BJP-led central government is "pro-farmer but industry-friendly". ...

Business :Manufacturing gaining lost momentum in Q-4: FICCI survey

New Delhi, March 22 FICCI's latest quarterly survey on manufacturing assessed recovery of the sector for Q-3 (October-December ... ...