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    Efforts To Bring Down NPAs Bearing Fruits, Profits Of PSBs Soar To Rs 25,685...

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    New Delhi- Finance Minister Nirmala Sitharaman on Monday said the government's efforts to reduce bad loans are yielding result with 12 public sector banks...
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    New Delhi, Jan 3 (PTI) India's manufacturing sector growth fell to an 18-month low in December amid softer increase in factory orders and output, despite minimal inflation, a monthly survey said on Wednesday. The HSBC India Manufacturing PMI survey, conducted by S&P Global, showed that there were softer, albeit sharp, increase in factory orders and output, while business confidence towards the year-ahead outlook strengthened. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 56 in November to an 18-month low of 54.9 in December. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. The HSBC India Manufacturing PMI is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers. "India's manufacturing sector continued to expand in December, although at a softer pace, following an uptick in the previous month. Growth of both output and new orders softened, but on the other hand, the future output index rose since November," said Pranjul Bhandari, Chief India Economist at HSBC. Despite a loss of growth momentum, the sector still expanded strongly in December. New business gains, favourable market conditions, fairs and expositions collectively induced another sharp increase in manufacturing production during December, according to panellists. The December data showed a 21st consecutive increase in international order receipts at goods producers in India. "Companies noted gains from clients in Asia, Europe, the Middle East and North America. New export sales expanded at a moderate pace that was the joint-slowest in eight months," the survey noted. On the prices front, input costs rose at the second-slowest rate in nearly three-and-a-half years and charge inflation softened to a nine-month low. Among the items reported to have been up in price were chemicals, paper and textiles. Little-changed from November, however, the rate of inflation was negligible by historical standards and was the second-weakest in just under three-and-a-half years, as per the survey. "Rates of increase in input and output prices were broadly unchanged," Bhandari added. HSBC India PMI data showed a general lack of pressure on the capacity of manufacturers at the end of the third fiscal quarter. Subsequently, employment was largely stable in December. When assessing the year-ahead outlook for production, Indian manufacturers were at their most upbeat for three months. Anecdotal evidence highlighted advertising, better customer relations and new enquiries as the main factors boosting business confidence in December, the survey said.

    India’s Manufacturing Sector To Sustain Growth Momentum For Next 6-9 Months: Survey

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    New Delhi- The growth momentum which has been witnessed by India's manufacturing sector for the past few months is likely to stay for the...
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    India Set To Witness Multi-Billion-Dollar 5G Infra Roll-Out

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    New Delhi- India is set to witness the world's largest roll-out of 5G infrastructure with multi-billion-dollar being spent by the country's leading telcos over...
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    LG Discusses Roadmap For Holistic Development Of J&K’s Agriculture Sector

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    Srinagar- Lieutenant Governor Manoj Sinha on Saturday chaired a high- level meeting of the advisory board for development of farmers and the officials of...
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    Borrower Can’t Claim Extension Of Time Under OTS As Matter Of Right: SC

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    New Delhi- The Supreme Court has said a borrower cannot claim further extension of time as a matter of right for making payment under...
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    69% Indian Households Struggle With Financial Insecurity: Survey

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    New Delhi- Despite robust growth in financial inclusion and the burgeoning financial services industry, almost 69 per cent of Indian households struggle with financial...
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    SC Holds Employees’ Pension Scheme Of 2014 Legal And Valid, But Reads Down Certain...

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    New Delhi- In a significant development, the Supreme Court held on Friday that the provisions contained in the Employees' Pension Amendment (Scheme), 2014 are...
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    Twitter Fires Majority Of Employees In India As Part Of Global Layoffs; Musk Blames...

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    New Delhi- Twitter has fired the majority of its over 200 employees in India as part of mass layoffs across the globe ordered by...
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    Commerce Ministry To Release Trade Data Once A Month

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    New Delhi- The commerce ministry has decided to resume the practice of releasing monthly exports and imports data only once in a month with...
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    Embassy of Israel Official Calls on Dulloo

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    Discusses IIAP establishment of Centers of Excellence in J&KJammu- Agriculture Attache MASHAV at Embassy of Israel in India, Yair Eshel here today called on...
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