• HINDI
  • JaiTV
  • Login
Ganga News Today
  • HOME
  • INDIA
  • WORLD
  • ENTERTAINMENT
  • BUSINESS
  • FASHION
  • TECH
  • LIFESTYLE
  • SPORTS
  • OTHERS
    • PEOPLE
    • OPINION
    • BREAKING NEWS
    • INFO
    • SOCIAL
    • VIDEOS
No Result
View All Result
Ganga News Today
  • HOME
  • INDIA
  • WORLD
  • ENTERTAINMENT
  • BUSINESS
  • FASHION
  • TECH
  • LIFESTYLE
  • SPORTS
  • OTHERS
    • PEOPLE
    • OPINION
    • BREAKING NEWS
    • INFO
    • SOCIAL
    • VIDEOS
No Result
View All Result
Ganga News Today
No Result
View All Result
Home BUSINESS

Indian Manufacturing Sustains Strong Growth Despite Slight Dip

by Ayushi
August 1, 2023
in BUSINESS
X (Twitter)FacebookWhatsappTelegram

The latest S&P Global survey reveals that Indian manufacturing sector retained its strong growth momentum in July, although there was a marginal decline in activity compared to the previous month. The country’s purchasing managers’ index (PMI) for manufacturing registered 57.7 in July, down slightly from 57.8 in June and 58.7 in May. However, the figure remains well above the expansion threshold of 50.

 

Despite easing in recent months, higher inflationary pressures continue to pose a significant challenge for the manufacturing sector. However, the survey highlights a sharp uptick in new export orders, driving the growth engine and contributing to the sector’s resilience.

RelatedPosts

Vidyut Jammwal Joins the Spykar Movement with the Launch of Chico Fit

Digital Gold vs Physical Gold : Which is Better

Lava Announces Exciting Smartphone Offers; Agni 3 Available for as Low as ₹16,999

 

Andrew Harker, economics director at S&P Global Market Intelligence, noted that the Indian manufacturing sector displayed no signs of losing growth momentum in July. Production lines continued to operate at full speed, propelled by robust new order growth. As demand remains strong, firms are expanding employment solidly, and this trend is expected to continue in the coming months.

 

The manufacturing sector’s stellar performance is notable, especially amidst the demand weakness observed in other parts of the world. While the domestic market sustains its strong momentum, the growth in new export business surged to its highest level since November 2022.

 

The report revealed that manufacturers responded to the surge in new orders by expanding production, maintaining a consistent monthly increase since July 2021. However, the solid pace of job creation was not sufficient to prevent a further accumulation of backlogs of work, given the strength of the rise in new orders.

 

S&P Global panellists cited higher costs for cotton and other raw materials as a contributing factor to inflationary pressures. Despite this challenge, the Indian manufacturing sector remains resilient and continues to outperform global counterparts.

 

In summary, the Indian manufacturing sector’s growth remains robust, supported by a surge in new export orders and a resilient domestic market. While inflationary pressures persist, the sector’s expansion and job creation reflect its strong potential for continued growth in the future

Tags: backlogs of workgrowth momentumIndian manufacturinginflationary pressuresjob creationnew export ordersPMI surveyproduction expansionraw material costs.
Previous Post

FPIs Cut Bets on Indian Index Derivatives After US Fed Rate Hike

Next Post

SEBI Seeks Public Opinion on Safeguards in AA Framework

Related Posts

Vidyut Jammwal Joins the Spykar Movement with the Launch of Chico Fit

Vidyut Jammwal Joins the Spykar Movement with the Launch of Chico Fit

May 29, 2025

Digital Gold vs Physical Gold : Which is Better

May 14, 2025
Lava Announces Exciting Smartphone Offers; Agni 3 Available for as Low as ₹16,999

Lava Announces Exciting Smartphone Offers; Agni 3 Available for as Low as ₹16,999

April 22, 2025
Sony India Launches its First 800 mm Super Telephoto Zoom G Lens

Sony India Launches its First 800 mm Super Telephoto Zoom G Lens

March 30, 2025
Duchess Kumari Debuts at PTAT, A Celebration of Heritage and Modernity

Duchess Kumari Debuts at PTAT, A Celebration of Heritage and Modernity

March 29, 2025
Want To Boost Your Credit Score Easily : What You Should Know

Want To Boost Your Credit Score Easily : What You Should Know

March 15, 2025
Next Post

SEBI Seeks Public Opinion on Safeguards in AA Framework

Recent News

Vidyut Jammwal Joins the Spykar Movement with the Launch of Chico Fit

Vidyut Jammwal Joins the Spykar Movement with the Launch of Chico Fit

May 29, 2025

Digital Gold vs Physical Gold : Which is Better

May 14, 2025
Truecaller Introduces Scamfeed : A User-Powered Defense Against Scams

Truecaller Introduces Scamfeed : A User-Powered Defense Against Scams

April 29, 2025
TVS Motor Company Unveils the Upgraded TVS Apache RR 310 with Advanced Features

TVS Motor Company Unveils the Upgraded TVS Apache RR 310 with Advanced Features

April 26, 2025
Lava Announces Exciting Smartphone Offers; Agni 3 Available for as Low as ₹16,999

Lava Announces Exciting Smartphone Offers; Agni 3 Available for as Low as ₹16,999

April 22, 2025
What Indian Car Lovers Can Expect from the VinFast VF 6

What Indian Car Lovers Can Expect from the VinFast VF 6

April 17, 2025
  • ABOUT
  • CONTACT
  • PRIVACY
  • ADVERTISE
  • Hindi – हिंदी
FOLLOW US

© Ganga News Today

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • Login
DTV
  • HOME
  • INDIA
  • WORLD
  • ENTERTAINMENT
  • BUSINESS
  • TECHNOLOGY
  • LIFESTYLE
  • SPORTS
  • FASHION
  • HEALTH
  • PEOPLE

© Ganga News Today

Go to mobile version