News Desk, Amar Ujala, New Delhi
Published by: Pranjul Srivastava
Updated Mon, 01 Nov 2021 12:59 PM IST
Production grew the most in the last seven months in October, while business reached the highest rate in the last six months.
– Photo: PTI
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If we look at the data, the Purchasing Managers Index (PMI) of the Indian market has gone up to 55.9 in October, from 53.7 in September. This bounce points to the strongest position since February. This is the fourth consecutive month that PMI data has shown improvement.
Highest demand in October
Polyana de Lima, Economics Associate Director, ISH Markets, says that India’s manufacturing sector can see steady improvement. The October data showed an increase in new orders, production and input purchasing. He said that while the demand in October was the highest in the last seven months, the production has also increased the most after March.
Highest export in three months
Polyana de Lima pointed out that the demand for the production of Indian companies has also increased in the international market, which is why exports have also grown the fastest in the last three months.
Inflation is a matter of concern
Even though the Indian market has shown improvement, the rise in inflation is a matter of concern. Inflation has reached its highest peak in the last 92 months. De Lima said that the demand for raw materials in the global market is increasing. This is the reason why the prices of raw materials are also going up.