Team Blitz India
NEW DELHI: India’s business activity expanded at the fastest pace in four months in January on stronger demand, according to a S & P Global survey that also showed input costs rising at the quickest rate since August.
The findings indicate Asia’s third-largest ecosystem would continue to hold onto its title as the fastest growing major economy in the near-term at least. India will grow 6.9% in the current fiscal year, a Reuters poll showed.
HSBC’s flash India Composite Purchasing Managers’ Index (PMI), compiled by S&P Global, rose to 61.0 this month, its highest since September, from December’s final reading of 58.5.
“The economy grew at a faster pace in January, led by stronger manufacturing output, as well as more robust business services activity,” noted Pranjul Bhandari, chief India economist at HSBC.
“New orders rose at a faster pace than a month ago, and within that, international orders were stronger than before, he added.”
