New Delhi, December 16, 2024: India’s economy has shown strong resilience as it closes out 2024, with the latest economic indicators reflecting robust growth. According to the data released by IHS Markit, the Composite Purchasing Managers’ Index (PMI) for December stands at 60.7, signaling sustained expansion in the country’s private sector activities. This marks a significant achievement, indicating that both manufacturing and services sectors continue to perform well despite global challenges.
The December PMI figure reflects continued optimism in the business environment, with strong demand for goods and services. The manufacturing sector remains a key driver of this growth, while the services sector has also shown substantial improvement, contributing to overall economic strength. The higher PMI score suggests a positive outlook for economic performance in the coming months, with firms reporting increased hiring, elevated production levels, and overall confidence in the economy’s direction.
Economic experts are optimistic about the potential for sustained growth in the first quarter of 2025, with strong domestic consumption, improving industrial output, and robust demand across sectors. The government’s focus on structural reforms and public infrastructure development is expected to further boost India’s economic momentum in the new year.
