Automation Grows Faster Than Hiring in Manufacturing

Imagine a big factory that makes things.

Companies are spending a lot more money on new machines and equipment for these factories than they are on hiring new people to work there.

For example, one factory saw its investments in machines go up by almost 30%, but they only hired a little over 12% more workers.

This is happening because it's often easier and sometimes cheaper for companies to buy machines, especially with strict rules about hiring and firing people.

Also, new technology makes machines more powerful.

This trend of investing more in machines than people has been happening for a while and is now at its biggest difference in seven years.

Experts think this will continue, but some suggest that if India moves towards a circular economy where products are designed for reuse and recycling, it could create new types of jobs.