The HSBC India Manufacturing Purchasing Managers' Index (PMI) rose to 58.4 in June from 57.6 in May due to a rise in demand for new orders and growing exports, primarily to the US.
Sales revenue of manufacturing firms saw weak growth in September quarter. Rural demand indicators performed better than urban. Capex must rapidly pick up in 2nd half of the fiscal.
Govt's first advance estimates peg India’s nominal GDP growth at 8.9%, lowest since Covid-hit 2020-21 & lower than 10.5% assumed at start of year. This could put pressure on fiscal deficit target.
June's S&P Global Manufacturing Purchasing Managers' Index was 57.8, down from May's 58.7 and below Reuters' 58.0 estimate. The index has been above 50 for the last two years
Services' share in India’s GVA increased from 48% to 57% in 8 years without being the primary focus. Imagine what the sector can do if Modi govt sets its eyes on it.
With China's neighbours offering global firms incentives to pull out of the 'factory of the world', India must swiftly integrate with East Asia to emerge as a legitimate alternative.
Foxconn, Samsung, Oppo, Wistron, Pegatron - it was mostly foreign brands that occupied consumer electronics manufacturing scene. But Super Plastronics has been an Indian flag bearer.
‘Mother kept pouring water in our eyes whenever the burning became unbearable. She pushed our bodies deep into the blanket, making sure not a single part was exposed,’ my father said.
December oil imports from Russia may drop nearly 50%, but Indian buyers already shifting to non-designated Russian entities and opaque trading channels to keep Russian oil flowing.
The helicopters produced by Lockheed Martin are known as ‘submarine hunters’. India ordered 24 of these aircraft in 2020 to replace the Sea King helicopters. 15 have been delivered till date.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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