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India's manufacturing Purchasing Managers’ Index (or PMI) for February touched 57.5 showcasing improvement in business operating conditions. In January, the PMI was at 57.7.
Manufacturers in India have acknowledged a good inflow of new orders in February. The survey, compiled by IHS Markit, showed that the output continued to recover from the contractions caused by the Covid-19 pandemic.
The big worry is that some companies were not expanding their capacity through hiring due to restrictions on the labour working hours. The February data has also shown a rise in pre-production inventories. The rate of inflation was modest during February.
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