Government reforms, manufacturing push lift Q2 growth to 8.2%: Goyal

admin — Sat, 29 Nov 2025 08:34:00 +0000

“We will continue to see relentless growth,” Commerce and Industry Minister Piyush Goyal said, adding India’s merchandise and services exports too have recorded high growth during April-October this fiscal. File
| Photo Credit: The Hindu

Commerce and Industry Minister Piyush Goyal on Saturday (November 29, 2025) said a host of steps and reforms undertaken by the government to improve ease of doing business have helped the economy post an 8.2% growth in the July-September quarter of the current fiscal.

He said the country’s exports too are registering healthy growth despite global uncertainties at the trade front.

“The 8.2% growth reflects the host of reform measures taken by the government. Number of measures have been taken to boost domestic manufacturing and promote ease of doing business,” he said here while participating in a national padyatra in Vadodara, organised as part of the 150th birth anniversary celebrations of Sardar Vallabhbhai Patel.

The Gujarat government is organising this ‘padyatra’ (foot march) from Karamsad to the Statue of Unity in the Narmada district of the State to commemorate the birth anniversary.

He added that the growth numbers have refuted claims made by certain quarters, and it showed that India is the world’s fastest-growing major economy.

“We will continue to see relentless growth,” Mr. Goyal said, adding India’s merchandise and services exports too have recorded high growth during April-October this fiscal.

During April-October this fiscal, merchandise exports increased marginally by 0.63% to $254.25 billion, and imports rose 6.37% to $451.08 billion.

During the first nine months of this financial year, services exports stood at $237.55 billion, compared to $216.45 billion in April-October 2024.

The 8.2% gross domestic product (GDP) growth, which follows a 7.8% expansion in the preceding April-June quarter, helped India retain the title of the world’s fastest growing major economy, according to official data.

The GDP growth came ahead of the festive season consumption boost on the back of the implementation of a significant reduction in the goods and services tax (GST).

The expansion, which was more than China’s 4.8%, was driven by higher public investments, services demand, industrial output and firm consumption, besides statistical effects of a low base (the economy grew at a below-average 5.6% in the same quarter last fiscal).

Manufacturing output rose 9.1% against a growth of 7.7% in the preceding quarter and 7.6% in the year-ago period, while construction expanded 7.2% from 7.6% in the previous quarter.

Published – November 29, 2025 02:04 pm IST

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India’s manufacturing PMI inched up to 56.9 in February

admin — Fri, 01 Mar 2024 05:34:40 +0000

A reading of over 50 on the PMI, which rose from 56.5 in January to 56.9 last month, indicates an expansion in activity. File.
| Photo Credit: B. Velankanni Raj

India’s manufacturing sector continued its recovery in February from an 18-month low in December, with production levels and sales rising at the fastest pace in five months, as per the seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI).

A reading of over 50 on the PMI, which rose from 56.5 in January to 56.9 last month, indicates an expansion in activity. New export orders grew at the highest pace in 21 months, but employment levels changed little as firms felt existing staff strengths were enough to cope with the workload.

“The upturn in manufacturing output was the strongest seen for five months and led by the capital goods category… [However] capacity pressures at goods producers in India remained mild [and] the uptick was softer than that registered in January,” a statement on the survey-based index noted.

Output price increases slowed down to their joint-weakest since March 2023, while input cost rose only fractionally at the weakest rate since July 2020.

“Qualitative evidence highlighted higher prices for iron, paper and plastics parallel to reductions for cotton and steel,” the statement said. About 8% of the surveyed firms which raised prices referred to the need to pass on higher freight, material and wage costs to clients.

Keeping in mind increased demand, firms tanked up on raw materials, lifting stocks of purchases at the fastest rate since August 2023.

“February survey data indicated sustained optimism among manufacturers regarding the year-ahead outlook for production. The overall level of confidence was the second highest since December 2022,” the PMI note concluded.

“Production growth continued to be strong, supported by both domestic and external demand. Manufacturing firms’ margins improved as input price inflation slipped,” said Ines Lam, economist at HSBC, attributing businesses’ optimistic outlook to these two factors.

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Government reforms, manufacturing push lift Q2 growth to 8.2%: Goyal

India’s manufacturing PMI inched up to 56.9 in February