India’s electric appliance makers cut back on labour costs by half, wages

India’s manufacturers of household appliances and electrical appliances are cutting back on the number of labourers employed by their factories, as they seek to cut costs.

The country’s government announced on Wednesday that the number and wages of the labourers will be halved in the next five years to bring them under the minimum wage.

The cut in the labour force was announced by the government of Prime Minister Narendra Modi.

The decision was welcomed by industry leaders, who said it was an important step to help the economy grow and create jobs.

In the last five years, the number in the domestic market of the Indian manufacturers of industrial electric appliances and appliances has been cut by almost half, according to an industry report.

In 2016-17, the total number of the domestic appliance industry workers stood at 5,000, but in the latest quarter, the figures stood at 6,700, according the report by the Federation of Indian Manufacturers.

It said that the reduction in labour force in domestic appliance manufacturing has come after the number has been declining for a while.

The government said that it had introduced the measure to save the cost of the government and to bring more manufacturing jobs to India.

It also said that India’s manufacturing capacity would be expanded by 30 per cent, to reach over 300 million units annually by 2022.

The measures announced by India’s government were made by the minister of state for industry, Piyush Goyal.

In a separate move, the government announced a new subsidy scheme for domestic appliance manufacturers and other businesses.

The scheme will provide a cash subsidy of Rs 10,000 to each domestic appliance manufacturer for each appliance sold and for the manufacturing and delivery of household appliance products.

The total subsidy will be Rs 50,000 crore, according a statement by the Minister of State for Industrial Policy, K.V. Krishna.

“In 2017-18, India’s household appliance market had a revenue of Rs 22,000 billion and a gross domestic product (GDP) of Rs 27,500 billion, according ToI.

The manufacturing and domestic appliance market contributed close to Rs 10 lakh crore in 2015-16, and in 2016-2017, India had a surplus of Rs 7,000-8,000 million in the sector,” the statement added.

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