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India Business News: In what augers well for India's overall economic growth, activity in manufacturing sector hit a 16-year high in March on back of strong increase in ou

Indias manufacturing industry enjoyed solid growth in March, expanding at the fastest pace in 16 years thanks to accelerating demand, according to a survey that also showed hiring increased at... -April 02, 2024 at 01:05 am EDT - MarketScreener

Indias manufacturing sector achieved a 16-year high in March, propelled by robust growth in new orders and production, marking a stellar close to FY24. The HSBC India Manufacturing Index surged to 59.1, reflecting strong expansion across consumer, intermediate, and investment goods sectors, driven by domestic and export demand. Despite inflation concerns, confidence remained elevated.

Indias manufacturing sector ended FY24 with remarkable performance, as reflected in the HSBC India Manufacturing PMI hitting a 16-year high of 59.1 in March. Strong output and new orders prompted increased hiring, yet concerns over inflation caused overall sentiment to dip to a four-month low, despite optimism in certain areas.

India's manufacturing industry enjoyed solid growth in March, expanding at the fastest pace in 16 years thanks to accelerating demand, according to a survey that ......

India Business News: Manufacturing industry in India experienced robust growth in February, with activity expanding at its fastest pace in five months. The HSBC final Indi

The February flash Purchasing Managers Index for the Indian manufacturing sector, released on February 22, had come in at 56.7.

The HSBC final India Manufacturing Purchasing Managers Index, compiled by S&P Global, rose to 56.9 in February from Januarys 56.5, beating a preliminary estimate of 56.7.

In February, manufacturing activity in India reached a five-month high due to increased new export orders and sustained domestic demand. The HSBC India Manufacturing Purchasing Managers Index rose to 56.9, with new export orders hitting a 21-month high. External demand was driven by countries like Australia, Bangladesh, Brazil, Canada, China, Europe, Indonesia, the US, and the UAE.

Asias third-largest and the worlds fastest-growing major economy expanded 8.4% in the October-December quarter, partly helped by a surge in manufacturing, according to data released by the government on Thursday.