Team Blitz India
NEW DELHI: India’s private sector activity rose to an eight-month high in March, helped by a pick-up in growth at goods producers and buoyant demand that prompted aggregate sales rising sharply.
The HSBC Flash India Composite Purchasing Managers’ Index (PMI) rose to 61.3 in March, compared with a downward revised figure of 60.6 in February, according to the third flash results released by the company.
The PMI Index measuring the month-on-month change in the combined output of India’s manufacturing and service sectors was inside growth territory for the 32nd consecutive month. This upturn was led by the manufacturing industry with the fastest expansions in factory orders and production in nearly three-and-a-half years.
“Service providers noted a sharp increase in business activity that was broadly similar to February, while manufacturers recorded the strongest upturn in production since October 2020, ” said the survey.
