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Healthy demand accelerates growth of India’s manufacturing sector in Feb: PMI

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India’s manufacturing sector’s growth sequentially rose in February 2022 due to robust demand.

Accordingly, the seasonally-adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) came in at 54.9 (index reading).

In January 2022, the seasonally-adjusted index had sequentially eased to 54 (index reading).

The PMI ranges between 0 and 100, with a reading of above 50 indicating an overall increase compared to the previous month.

“February PMI data showed another improvement in the health of the Indian manufacturing sector as firms responded to strong increases in new work intakes by lifting production, input buying and stocks of purchases,” the PMI report said.

“Employment fell at the softest pace for three months, while favourable demand conditions supported an improvement in sentiment which reached the strongest since last October.”

According to the PMI report, strengthening demand for raw materials led to another marked rate of input price inflation, albeit one that was the softest for six months.

Besides, the PMI report said growth has now been seen in each of the latest eight months, with the headline figure remaining above its long-run average of 53.6.

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Dr Singh’s reforms inspired countless young economists like me: Gita Gopinath

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New Delhi, Dec 27: Condolence messages from economists mourning the death of former Prime Minister Manmohan Singh poured in on Friday, with IMF Deputy Director Gita Gopinath stating that the economic reforms he ushered in as finance minister in 1991 had inspired countless young economists like her.

“Dr. Manmohan Singh’s 1991 budget unshackled India’s economy, significantly enhancing the economic prospects for hundreds of millions of Indians. His visionary reforms inspired countless young economists like me. Rest in peace, Dr. Manmohan Singh,” Gita Gopinath said on X.

Sanjeev Sanyal, member of the Economic Advisory Council to the Prime Minister (EAC-PM), said that his generation of Indians was the creation of the economic reforms introduced by Finance Minister Manmohan Singh and Prime Minister Rao in 1991.

“As I have said before, the two most significant years of the twentieth century for India were 1947 and 1991 — one brought political freedom and the other economic freedom. Manmohan Singh will always be remembered for announcing the Great Liberalisation…” Sanyal said.

Condolence messages also came in from industrialists for the former Prime Minister and former finance minister who had played a key role in opening up the Indian economy and breaking away from the erstwhile licence-permit raj that had shackled industry.

JSW Group chairman and MD, Sajjan Jindal, said; “Saddened by the passing of Dr. Manmohan Singh ji, former Prime Minister of India and the visionary leader behind India’s economic liberalisation. A statesman of humility and wisdom-India owes him a debt of gratitude.”

The US-India Business Council expressed deep condolences following the passing of Dr Singh, highlighting his significant contributions to strengthening the relationship between the United States and India.

USIBC praised Dr Singh for his pivotal role in in the 2008 Civil Nuclear Agreement between the two countries and economic reforms that shaped modern bilateral ties.

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Kawasaki Introduces KLX 230 in India with Rs 3.30 Lakh Price Tag

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Kawasaki KLX 230 has been officially launched in India, priced at Rs 3.30 lakh (ex-showroom). Bookings for the dual-purpose motorcycle, which were opened after its unveiling in October, are now live. Customers who pre-booked the bike can expect deliveries to begin in January 2025. The KLX 230 has generated a lot of excitement, having been spotted several times undergoing tests prior to its India debut.

Kawasaki KLX 230, the brand’s first road-legal dual-sport motorcycle in India, combines rugged off-road capabilities with essential road-legal features. It boasts a slim, tall profile with long-travel suspension and wire-spoke wheels, designed to handle diverse terrains. For urban legality, the bike comes with an LED headlamp, turn indicators, rear-view mirrors, a saree guard, and dual-purpose tyres. Available in two vibrant colour options, Lime Green and Battle Grey, the KLX 230 is built for riders who seek both adventure and practicality.

Kawasaki KLX 230 is designed for versatile riding, featuring a high-tensile steel perimeter frame and robust suspension system with 240mm travel at the front and 250mm at the rear. The motorcycle is equipped with a 37mm telescopic fork in the front and a Uni-Trak-linked mono-shock at the rear, ensuring excellent handling across varied terrains. It comes with wire-spoke wheels sized 21 inches at the front and 18 inches at the rear, fitted with dual-purpose tyres.

The KLX 230 also boasts a dual-channel ABS system with disc brakes at both ends for superior stopping power. With a ground clearance of 265mm, a seat height of 880mm, and a kerb weight of 139kg, it strikes a balance between agility and stability. The 7.6-litre fuel tank ensures that riders can enjoy longer journeys without frequent refuelling.

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Railways completes trial run on J&K’s cable-stayed Anji Khad Bridge

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New Delhi, Dec 26: Indian Railways has successfully carried out a trial run of a tower wagon on the Anji Khad Bridge, the country’s first cable-stayed rail bridge, located in Jammu and Kashmir’s Reasi district.

The achievement is a major step forward in enhancing railway connectivity in Jammu and Kashmir, with services expected to commence in January 2025.

Railways Minister Ashwini Vaishnaw shared a video of the trial run on the social media platform X, highlighting the progress of the crucial project.

“The trial run on the Anji Khad Bridge, a key component of the Udhampur-Srinagar-Baramulla Railway Link (USBRL) project, has been successfully completed,” according to the Ministry of Railways.

Completed last month, the Anji Khad Bridge is an engineering marvel featuring a single pylon that rises 331 metres above the riverbed. It is supported by 48 cables on its lateral and central spans and stretches 473.25 metres in total length. The viaduct measures 120 metres, while the central embankment spans 94.25 metres.

This is the second-highest railway bridge in India after the Chenab Bridge, which is the highest in the world at a record 359 metres above the riverbed. Both bridges are part of the ambitious USBRL project aimed at increasing connectivity in Jammu and Kashmir.

The USBRL project stretches across 272 kilometres, of which 255 kilometres have already been completed. The remaining portion between Katra and Reasi is expected to be completed by the end of this month.

The Udhampur-Srinagar-Baramulla Rail Link (USBRL) is a 272 km railway project that connects Jammu and Kashmir to the rest of India. It is considered one of the most challenging railway projects in the Indian subcontinent.

The project will reduce travel time between Srinagar and Jammu from six hours to 3.5 hours. The railway projects have been constructed after overcoming natural challenges such as extreme temperatures, major earthquake zones, and inhospitable terrain.

Prime Minister Narendra Modi is expected to flag off the Vande Bharat train to provide a fast link for passengers travelling between Kashmir and Delhi in January 2025.

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