Indian manufacturing activity improved in the month of September, as companies benefited from strengthening demand conditions amid the easing of COVID-19 restrictions. As per the survey report, the Nikkei India Manufacturing Purchasing Managers’ Index (PMI) - a composite single-figure indicator of manufacturing performance - surged to 53.7 in September as against 52.3 in August.
The report said that consumer goods was the brightest spot in September, posting the highest PMI reading of the three monitored market groups amid substantial accelerations in growth of new orders and output. New work intakes continued to expand in September. The rate of increase was solid and quickened from August.
International demand for Indian goods also strengthened in September, although there were mentions among some firms that the pandemic restricted international sales. On the price front, price pressures, which receded in each of the prior two months, intensified in September due to lingering shortages of raw materials as well as higher fuel and transportation costs.
