Mumbai: There has been a significant improvement in the activities of the country’s manufacturing sector in April. India’s Purchasing Manager Index (PMI) for the manufacturing sector reached the ten -month high of 58.20 in April, which was 58.10 in March. According to data compiled by S&P Global, this strength in PMI has been seen since June 2024. The PMI of February was at the lowest level of 14 months at 56.30.
There was a rapid increase in export orders in April. Export orders have seen a second major growth in about 14 years.
The survey report said that more orders were received for Indian goods from Africa, Europe, West Asia and America.
Production in factories has seen the highest increase since June 2024.
There are indications that the demand for Indian goods from global buyers is increasing due to the tariff war by the US. Emperor tariff rates on India have been declared lower than some countries including China and Vietnam. There is a slight increase in the prices of raw materials, but the pressure of high prices of raw materials has been repaid due to further increase in the prices of finished goods.
Nine percent of the manufacturers participating in the survey have appointed employees as per the increasing demand. To meet the future demand, companies have increased the purchase of raw materials and have also stored the goods.
