India's Manufacturing Output Surges While Inflation Pressures Ease

Summary

• India's economy continues to experience rapid growth, with GDP expanding by 7.8% year-over-year in the April-June quarter of 2023.
• Industrial production in India rose by 10.3% year-over-year in August 2023, and the manufacturing sector showed strong operating conditions.
• Foreign direct investment inflows into India reached a record high of $85 billion in the 2021-22 fiscal year, making it an attractive location for multinational companies.

metamorworks

After rapid economic growth of 7.2% in the 2022-23 fiscal year, economic momentum has remained strong, with industrial production rising by 10.3% year-over-year (y/y) in August 2023 and GDP growth of 7.8% y/y in the April-June quarter of 2023. The S&P Global India Services PMI Business