India’s manufacturing sector recovering faster in January 2021
According to reports, India’s manufacturing sector activity strengthened in January 2021. Companies are scaling up at a faster pace in the last three months to cater to new export orders and faster expansions in total sales.
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index rose from 56.4 in December to 57.7 in January, signalling the strongest improvement in the sector in three months. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.
The demand is rising and the manufacturing sector is on the road to recovery, according to the data. The Indian manufacturing PMI is under positive territory in January, heading into a sixth consecutive improvement in business conditions.