• Friday, August 19, 2022

Business

Growth in India’s Manufacturing Sector Climbs Amid Higher Price Pressures

Growth in India’s Manufacturing Sector Climbs Amid Higher Price Pressures (Photo: Karen Dias/Bloomberg via Getty Images).

By: Radhakrishna N S

India’s manufacturing sector activity improved in September amid firmer gains in new orders, output and employment, said in a survey released on Monday (1). The Nikkei India Manufacturing Purchasing Managers’ Index (PMI) strengthened slightly in September to 52.2 (up from 51.7 in August). Sales rose from both domestic and foreign clients, while manufacturers raised their buying activity and bolstered stocks of purchases in anticipation of further growth. On the price front, input costs rose at a stronger rate amid reports of higher prices for fuel and steel. Charges were subsequently increased at a slightly firmer pace. Manufacturers remain confident that…

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