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India Manufacturing PMI Ranks Highest In Over Two Years

PMI

The year 2022 ended positively for Indian manufacturers as their business conditions in December improved to the highest in over two years

New Delhi: The year 2022 ended positively for Indian manufacturers as their business conditions in December improved to the highest in over two years.

S&P Global Purchasing Manager’s Index data released on Monday showed India’s manufacturing index at 57.8 in December, up from 55.7 in November, pointing to a robust improvement in the health of the manufacturing sector and the best seen since October 2020. “Demand resilience boosted sales growth in December, with the rate of increase picking up to the quickest since February 2021. In some instances, panellists indicated that advertising, product diversification and favourable economic conditions supported sales,” S&P Global PMI said in a statement.

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It added international demand for Indian goods also improved but was lower as compared with November.
“Following a promising start to 2022, the Indian manufacturing industry maintained a strong performance as time progressed, wrapping the year with the best expansion in production seen since November 2021,” said Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence.

“Demand strength took centre stage among the reasons provided by firms for improvements in many measures. Additional materials were purchased and extra workers hired as companies sought to supplement production and maintain healthy levels of inventories. Input stocks rose at a near-record pace.”
Less challenging supply-chain conditions also supported the growth.

“While some may question the resilience of the Indian manufacturing industry in 2023 amid a deteriorating outlook for the global economy, manufacturers were strongly confident in their ability to lift production from present levels,” Pollyanna De Lima added.

(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

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Dy Chairman Rajya Sabha Harivansh To Lead Indian Representation At 26th CSPOC In Canberra, Australia

ANI
Harivansh

New Delhi: The Deputy Chairman of the Rajya Sabha, S Harivansh will be leading the Indian representation at the Conference of Speakers and Presiding Officers of Commonwealth (CSPOC) in Canberra, Australia to be held from January 3-6, 2023. Parliament sources told ANI that the 26th Conference of Speakers and Presiding Officers of the Commonwealth will focus on the work of Parliaments in the context of the COVID-19 pandemic.

“The four topics to be discussed include a general discussion on the adaptation of Parliaments during the pandemic, cyber security preparedness, e-Parliament, and the role of Presiding Officers in leading Parliamentary innovations,” Parliament sources told ANI.

Regarding Parliaments and the pandemic, the focus will be on how have parliaments adapted to the pandemic, what issues arose from the adaptations and which of these adaptations may become permanent, as well as, parliamentary privilege and virtual proceedings.

On the issue of security, the 26th CSPOC will discuss the ever-evolving requirements for parliaments in relation to physical (premises and Members) and cybersecurity.

While e-Parliament will discuss technology driving evolving relationships between parliament and the people and the need for citizens to have access to technology to participate in new ways.

On the role of the Speaker or Presiding Officer in leading parliamentary innovation, a special plenary session will be organized for the training of members and staff where new approaches and sharing best practices will be discussed.

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Parliament sources further said that in addition to the sessions for Presiding Officers there are other capacity-building workshops for the staff of participating countries.

The Deputy Chairman will be accompanied by officials of the Lok Sabha and the Rajya Sabha Secretariat.
The conference was conceptualized in 1969 by Canada to bring the Speakers and Presiding Officers of Parliaments in Commonwealth countries on one platform.

The Conference is an independent group and has no formal affiliation with the Commonwealth Parliamentary Association, the Commonwealth Secretariat, or the Commonwealth Heads of Government. CSPOC operates on a two-year cycle, holding a conference of the full membership every two years, usually early in January, and a meeting of the Standing Committee at the same time the intervening year.

The Conference aims to: Maintain, foster, and encourage impartiality and fairness on the part of Speakers and Presiding Officers of Parliaments; Promote knowledge and understanding of parliamentary democracy in its various forms; and Develop parliamentary institutions.

The last such conference was held in Canada in January 2020. The next conference is scheduled to be held in Uganda in 2024.

(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

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