The end of the recession phase in the Indian economy fastens as the services and manufacturing industry shows signs of growth.
According to January data, the country witnessed a great start for the new quarter of 2021. The data to be released at the end of this month may show that India exited a recession in the final three months of 2020.
The service sector expanded for the fourth consecutive month in January as a result of new business activities. The Markit India Services Purchasing Managers’ Index(PMI) rose to 52.8 from 52.3.
The manufacturing sector also develops as the companies increase the pace of production as a result of increased export orders and higher sales.
The exports of engineering goods, gems and jewelry, iron ore and textiles showed a positive performance.