“The Indian manufacturing sector ended the June quarter in a strong position. "The headline manufacturing PMI rose 0.8 percentage points to 58.3 in June, supported by a pick-up in new orders and output," said Maitreyi Das, global economist at HSBC.
The report said the performance of the consumer goods industry was particularly strong, although the intermediate and investment goods categories also saw substantial growth.
Export growth is also likely to be better than last year as the 400 companies surveyed for the index reported another month of strong growth in new export orders, with Asia, Australia, Brazil, Canada, Europe and the US leading the way. There are economies.
Input inflation remains above the long-term average. However, with demand remaining strong, manufacturers were able to pass on higher costs to customers, resulting in margin improvement,” Das said.
Commerce and Industry Minister Piyush Goyal has estimated that India's goods and services exports are likely to grow by 3 per cent to more than $800 billion in 2024-25.
The Reserve Bank of India recently raised India's growth forecast to 7.2 percent from 7 percent earlier.
The report said the performance of the consumer goods industry was particularly strong, although the intermediate and investment goods categories also saw substantial growth.
Export growth is also likely to be better than last year as the 400 companies surveyed for the index reported another month of strong growth in new export orders, with Asia, Australia, Brazil, Canada, Europe and the US leading the way. There are economies.
Input inflation remains above the long-term average. However, with demand remaining strong, manufacturers were able to pass on higher costs to customers, resulting in margin improvement,” Das said.
Commerce and Industry Minister Piyush Goyal has estimated that India's goods and services exports are likely to grow by 3 per cent to more than $800 billion in 2024-25.
The Reserve Bank of India recently raised India's growth forecast to 7.2 percent from 7 percent earlier.
