Manufacturing sector a major disappointment as it contracted 1.1% in Q3. Services such as tourism, transport & communications saw strong growth in this quarter.
Analysis of industrial & consumer data not included in usual ‘high-frequency indicators’ shows although demand seems to have recovered from pandemic, it remains weak.
Absence of basic data, such as census, harms the country's statistical system & policy analysis. In such a scenario, CMIE, CRISIL, Skymet have become reliable sources for quality data.
The government has revised its GDP growth estimate for 2021-22 to 8.7 per cent on account of economic disruptions caused by the Covid-19 pandemic and spike in inflation.
Demand during the festive season has helped keep momentum rolling. Data due 30 November will probably show July-September GDP grew 8.2% from a year ago.
If we compare Indian states to India’s neighbourhood, we find that only Goa, Sikkim, and NCT of Delhi have a GDP per capita higher than China’s GDP per capita of $16,772.
India's economy could contract by around 1% in the Q4 if one takes into account the revised full year GDP numbers for the current fiscal. For the full year, NSO forecasts steeper contraction of 8%.
Construction, manufacturing, mining & services industry like hotels and transportation are to be the worst hit, says first advance GDP estimate released by the National Statistical Office.
For an industry globally classified as hazardous, protections such as health insurance and a provident fund for workers are necessities. In Sivakasi, they remain elusive.
The industry forecasts exports are set to grow 16% in 2025-26, boosted by surplus domestic production and a drive to push into 26 underserved global markets with strong potential.
Indigenisation level will progressively increase up to 60 percent with key sub-assemblies, electronics and mechanical parts being manufactured locally.
It is a brilliant, reasonably priced, and mostly homemade aircraft with a stellar safety record; only two crashes in 24 years since its first flight. But its crash is a moment of introspection.
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