New Delhi: Good news has come to the fore regarding the Indian economy. In fact, while on the one hand superpowers like the United States and the United Kingdom are worried about the possibility of recession, on the other hand, the health of the Indian economy remains very healthy. This is indicated by the Purchasing Managers' Index (PMI) data. New orders, expansion in manufacturing, a pick-up in demand, and easing costs pushed the country's manufacturing sector activity to a three-month high in March. This information was given in the monthly survey released on Monday (April 3).

According to the report, the S&P Global India Manufacturing Purchasing Managers' Index (PMI) has risen to 56.4 in the month of March. Earlier in February, it was at 55.3, marking the strongest improvement in operating conditions so far in 2023. According to the March PMI data, overall operating conditions improved for the 21st consecutive month. Explain that staying above 50 in PMI means that business activity has expanded, while staying below 50 means that it has declined.

Pauliana de Lima, assistant director of economics at S&P Global Market Intelligence, says, 'The underlying demand for Indian goods remained strong in March. Production is continuously expanding, and companies have stepped up efforts to increase their reserves. According to the survey, cost-related inflation eased to its second-lowest level in two-and-a-half years in March due to easing pressure on supply chains and increased availability of raw materials.

The report suggests that 96 percent of companies have not felt any change in cost pressure since February. Lima said that in the last quarter of the last financial year, sales prices have increased further, but the rate of inflation is normal and is almost the same as in February. To increase sales, the charges have been kept unchanged. On the employment front, companies did not make fresh recruitments due to a modest growth in business. Lima said that while companies and suppliers have ample capacity, job creation in March has been affected by the lack of work pressure.

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