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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 January's 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.
Asia's third-largest and the world's 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.