Manufactured goods are ever-shrinking slice of pie, & high exchange rate from surplus in service trade keeps Indian products pricey in export markets, despite low labour costs.
The services sector PMI rose to 58.4 in October from 55.2 in September — the third straight month of expansion as the economy shrugs off pandemic disruptions.
The seasonally adjusted India Services Business Activity Index rose from 41.2 in June to 45.4 in July but was stuck in contraction due to subdued demand conditions amid Covid crisis.
It’s time to acknowledge that India is not going to replicate the export orientation of the East Asian manufacturing story, or even that of Bangladesh.
The main services index rose to 12.6 in May after April's 5.4, data published by IHS Markit showed. The services sector accounts for more than half of India’s economy.
A survey done by Care Ratings Ltd. showed that banks, insurers, auto makers and logistics and infrastructure companies are among those hiring at a slower pace.
With an educated & skilled workforce, Tamil Nadu has a burgeoning industrial sector which has scored massive investments in automobiles, electronics, and even footwear.
The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.
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