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Below is quote on India manufacturing PMI rebounds strongly in July 2021 by Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd   

India's manufacturing output rebounded strongly as indicated by the PMI which came in at 55.3 as compared to 48.1 in June. This is the strongest reading in the past three months and indicates that manufacturing activities are fast recovering from the pandemic induced slowdown in May and June. Expansion was witnessed across all segments including output, new orders, exports, quantity of purchases and input stocks, while employment too witnessed marginal uptick after 15-months of contraction. We expect manufacturing activities will continue to expand in the coming months as given significant easing of restrictions in June and July. Moreover there are also early signs that manufacturing inflation is starting to abate as the PMI numbers indicated the slowest increases in input costs and output charges in the past seven months. Overall the Manufacturing PMI numbers should have a positive rub off on the markets.

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