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.
MoSPI proposes to remove closed factories from IIP sample, aiming for truer picture of India’s industrial health in upcoming 2022–23 base series. Plan open to public feedback until 25 November.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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