India s factory output grows 1% in December
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India’s factory activity in November was buoyed by a rise in domestic and foreign demand that allowed firms to raise prices. Photo: Mint
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NEW DELHI: India’s factory output grew in December, having contracted in the previous month, indicating a gradual recovery in industrial activity from the pandemic-induced disruption.
Data released by the statistics office showed that the index of industrial production (IIP) grew 1% in December compared with a 1.9% contraction in November. Manufacturing output grew 1.6% while mining production contracted 4.8% during the month under review.
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India s exports expand for second consecutive month in January
India’s exports
Non-petroleum and non-jewellery imports grew 5.94% signalling a pickup in domestic economic activities
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India’s merchandise exports and imports expanded for the second consecutive month in January, signalling a turnaround in domestic and external demand after the pandemic devastated the value of trade in Asia’s third-largest economy.
Imports expanded 2.05% last month while exports grew 5.37%, leaving a trade deficit of $14.75 billion, according to preliminary data released by the commerce ministry. Non-petroleum and non-jewellery imports grew 5.94%, signalling an increase in domestic activities.
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IMF expects Indian economy to post 11.5% GDP growth in FY22
India’s September quarter GDP estimate at -7.5% after -23.9% in the June quarter positively surprised analysts
(REUTERS)
IMF also revised upward its projections for FY22 to 11.5% from 8.8% estimated earlier
IMF has projected world economy to recover a little faster and grow at 5.5% in 2021 after contracting 3.5% in 2020
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The International Monetary Fund (IMF) on Tuesday upgraded its gross domestic product (GDP) projection for India to a contraction of 8% in FY21 from an earlier estimate of minus 10.3%, saying there are encouraging signs of economic recovery in high frequency indicators.
Indian Economy To Rebound With 8 9% Growth In FY22 moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.