• UGI USER
  • Mar 04, 2024
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MANUFACTURING GROWTH AT 5-MTH HIGH IN FEB ON ROBUST DEMAND:

Why in the news?

India’s manufacturing sector reached a five-month high in February due to increased factory production and sales, supported by domestic and external demand.

About Manufacturing Sector Growth:

  • India’s manufacturing sector saw a notable increase in February, reaching a five-month high.
  • The surge was driven by a significant rise in factory production and sales, supported by both domestic and external demand.
  • The HSBC India Manufacturing Purchasing Managers’ Index (PMI) climbed from 56.5 in January to 56.9 in February, indicating the strongest improvement since September 2023.
About Core Industries:

●    Core sector comprises 8 key sectors: Coal, Crude oil, Natural gas, Refinery products, Fertilisers, Steel, Cement, and Electricity.

●    These sectors contribute about 40.27% to the Index of Industrial Production (IIP).

●    The Office of Economic Adviser in DPI IT releases the Index of Eight Core Industries, indicating monthly industrial performance.