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.
The last time this matter flared up was when Delhi Chief Minister Rekha Gupta, in a very similar directive in April, called for the relocation of stray dogs in the capital.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Now that both IAF and PAF have made formal claims of having shot down the other’s aircraft in the 87-hour war in May, we can ask a larger question: do such numbers really matter?
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