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    India’s manufacturing PMI hits high

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    Because of high demand and output, India’s manufacturing Purchasing Managers Index ( PMI ) increased at a rapid rate just in 31 months. This automatically leads to companies hiring at the fastest rate possible within 6 months. S&P Global has released data showing that the manufacturing purchasing managers index increased from 27.2 to 58.7 within a month gap from April to May of the past 2–2 years. The Economics Associate Director of S&P Global said in a press release that “it helps in getting country orders and helps in stabilising the economic situation of the nation. It also helps India to stand out in global markets. They unitedly created more employment opportunities in May”.  She concluded. According to Data, there has been a significant increase in orders since January. International demand has increased within the span of six months. Due to the huge orders, there is an increase in the purchasing index. The annual growth rate also increased to 7.2%.

    Due to the high demand, companies were able to provide more employment opportunities starting from November 2022, and within the span of six months, the rate hit its maximum. Input expenses may have increased, but it led companies to charge high fees to their clients and allowed them to raise output rates.

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