1st April - "April Fool day" - Classes started from 3.00 pm on Breakthrough Management.
And then the labor started from 2nd April. Going up & down on the ladder of abstraction & finally lost somewhere, was the daily activity for an average VLM student here. But by the end of the course we all are aware of the fact that analysis of any issue should start from fact based study. Though it was tough for us , because we are more likely to infer rather than the reporting study.
And then came the 2 day break on 17 & 18, and for the first time we come out of IIM for general purpose. We realized very shortly that "Life is hard here at IIM".
Next part of story in next blog.
Monday, May 10, 2010
Sunday, May 9, 2010
Global manufacturing PMI hits highest since May '04
Global manufacturing expanded at its fastest pace since May 2004 in April as output and new orders surged to new multi-year highs, a survey showed on Tuesday.
The Global Manufacturing PMI, produced by JPMorgan with research and supply management organisations, rose to 57.8 in April from 56.8 in March, the tenth month it has kept above the 50 mark that divides contraction from growth.
"The global manufacturing sector got off to a robust start to Q2, with rates of growth in production and new orders amongst the highest in the survey history," said David Hensley at JPMorgan.
The survey compilers said the outlook was positive in the months ahead, with the orders-to-inventory ratio rising sharply -- suggesting that manufacturers will need to ramp up production further to meet demand.
On Monday, the Institute for Supply Management said its index of U.S. factory activity hit a nearly six-year high and a rate above expectations.
Britain's Markit/CIPS manufacturing PMI report showed the strongest rate of growth in factory activity since 1994. A separate euro zone survey this week showed output growth accelerated to its fastest pace since June 2000.
The Global Manufacturing PMI, produced by JPMorgan with research and supply management organisations, rose to 57.8 in April from 56.8 in March, the tenth month it has kept above the 50 mark that divides contraction from growth.
"The global manufacturing sector got off to a robust start to Q2, with rates of growth in production and new orders amongst the highest in the survey history," said David Hensley at JPMorgan.
The survey compilers said the outlook was positive in the months ahead, with the orders-to-inventory ratio rising sharply -- suggesting that manufacturers will need to ramp up production further to meet demand.
On Monday, the Institute for Supply Management said its index of U.S. factory activity hit a nearly six-year high and a rate above expectations.
Britain's Markit/CIPS manufacturing PMI report showed the strongest rate of growth in factory activity since 1994. A separate euro zone survey this week showed output growth accelerated to its fastest pace since June 2000.
China systematically killing Indian manufacturing: L&T
Private sector engineering major Larsen & Toubro has said that China is systematically killing Indian manufacturing sector and sought 25 per cent anti-dumping duty on Chinese goods.
"China has a fixed currency. It is not a market economy like ours. China is systematically killing the Indian manufacturing sector," L&T chief Naik, who was here for foundation stone laying ceremony of a forgings unit at Hazira told reporters here yesterday.
"There are taxes on goods manufactured locally, but none on imported products (from China). This is an unfair situation for Indian goods. This is why there should be 25 per cent anti-dumping duty on Chinese products," Naik said.
Speaking specifically about power equipment sector, in which L&T is a major player, Naik said, "The Indian power companies, especially those in the private sector, have placed huge orders for power plant equipment with China. We can say that Chinese power sector is virtually working for India."
"It is not good that 80 per cent of our dependence for power plant equipment is on one country, and that too China," he said, adding that China should not be allowed to grow at the cost of Indian companies.
"The day China opens its economy, its prices are bound to go up by 25 per cent," he said. "But unfortunately we are not taking any steps to stop it," Naik further said.
L&T's special steel manufacturing and ultra heavy forgings unit at Hazira is a joint venture with Nuclear Power Corporation of India Ltd (NPCIL), in which L&T holds 74 per cent stake while the latter 26 per cent.
The plant is being set up at an investment of Rs 1,750 crore, and will supply finished forgings for nuclear reactors, pressurisers and steam generators, besides heavy forgings for critical equipment in the hydrocarbon sector, as well as thermal power plants and steel plants. The unit is expected to begin operations between March and May next year.
L&T is also investing over Rs 5,000 crore for setting up facilities to manufacture boilers, turbines, modular fabrications. It is also establishing a ship-building unit and a power plant at its Hazira facility.
"The boiler shop will be opened in March or April this year, which will be followed by the turbine shop in August or so," Naik said.
"China has a fixed currency. It is not a market economy like ours. China is systematically killing the Indian manufacturing sector," L&T chief Naik, who was here for foundation stone laying ceremony of a forgings unit at Hazira told reporters here yesterday.
"There are taxes on goods manufactured locally, but none on imported products (from China). This is an unfair situation for Indian goods. This is why there should be 25 per cent anti-dumping duty on Chinese products," Naik said.
Speaking specifically about power equipment sector, in which L&T is a major player, Naik said, "The Indian power companies, especially those in the private sector, have placed huge orders for power plant equipment with China. We can say that Chinese power sector is virtually working for India."
"It is not good that 80 per cent of our dependence for power plant equipment is on one country, and that too China," he said, adding that China should not be allowed to grow at the cost of Indian companies.
"The day China opens its economy, its prices are bound to go up by 25 per cent," he said. "But unfortunately we are not taking any steps to stop it," Naik further said.
L&T's special steel manufacturing and ultra heavy forgings unit at Hazira is a joint venture with Nuclear Power Corporation of India Ltd (NPCIL), in which L&T holds 74 per cent stake while the latter 26 per cent.
The plant is being set up at an investment of Rs 1,750 crore, and will supply finished forgings for nuclear reactors, pressurisers and steam generators, besides heavy forgings for critical equipment in the hydrocarbon sector, as well as thermal power plants and steel plants. The unit is expected to begin operations between March and May next year.
L&T is also investing over Rs 5,000 crore for setting up facilities to manufacture boilers, turbines, modular fabrications. It is also establishing a ship-building unit and a power plant at its Hazira facility.
"The boiler shop will be opened in March or April this year, which will be followed by the turbine shop in August or so," Naik said.
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