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India manufacturing PMI grows at fastest pace in three months in May

The survey found increased optimism about manufacturing activity over the coming year, probably helped as Modi scored a dramatic election victory on a mandate of business-friendly policies

Reuters  |  BENGALURU 

India's manufacturing sector expanded at its quickest pace in three months in May on improved output and new orders, according to a private business survey which also showed a pick up in hiring. The survey found increased optimism about manufacturing activity over the coming year, probably helped as Prime Minister Narendra Modi scored a dramatic election victory on a mandate of business-friendly policies and a tough stand on national security. Almost 70% of responses were collected after exit polls showed Modi's Bharatiya Janata Party would return to power for a second ...

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First Published: Mon, June 03 2019. 10:54 IST
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