Thanks to ‘Make in India’, India’s manufacturing expands to hit 14-month high amidst slump in Asia: Nikkei Asian Review
Op IndiaDespite major emerging economies in the region recording a slump in their manufacturing activity, India has emerged as an exception, as the manufacturing activity is expanding at the fastest rate in 14 months, reports Nikkei Asian Review. The monthly Nikkei PMI survey collects the data from companies in major Asian countries except for China regarding changes in output, orders and other business conditions relative to last month. Of the 15 data sets analysed in the PMI for February, nine countries saw a drop compared to the previous month while only six rose, with manufacturing seeing a specifically widespread decline. The Nikkei Asian Review report says that the Indian manufacturing industry is mainly comprised of chemicals, machinery, metals, and textiles.