India’s manufacturing sector growth slips to 56.5 in November
Growth in India's manufacturing sector slipped to 56.5 in November stymied by fierce competition and price pressures.
Growth in India's manufacturing sector slipped to 56.5 in November stymied by fierce competition and price pressures.
Instead of creating 10 crore jobs in the manufacturing sector, the country is currently facing the highest unemployment in the last five decades, she claimed.
Goyal said India will be an important consumer market and it is going to see more and more sustainability driving consumer demands.
Chief Minister Yogi Adityanath has set a goal of making Uttar Pradesh a $1 trillion economy in the next five years.
This assessment is also reflective in order books as 55% of the respondents in Q-1 (April-June 2022-23) are expecting higher number of orders, the survey noted.
The manufacturing sector saw slower growth in July from the prior month, as companies and suppliers continued to struggle to meet increasing levels of demand.
The manufacturing sector contributes 15 per cent of the country’s gross domestic product (GDP), which makes it is one of key sources of employment.
The Industrial Outlook Survey of the Manufacturing Sector for Q2:2020-21' noted that respondents maintained negative sentiments on selling price.
In April, the index had slipped into contraction mode, after remaining in the growth territory for 32 consecutive months.
The drop seen in the manufacturing PMI reflected the sharpest deterioration in business conditions across the sector since data collection began over 15 years ago.
