GST relief buoys factory activity

India's manufacturing sector regained momentum in October after cooling to a four-month low in September, lifted by GST relief measures, improved productivity and increased technology investments, according to a private survey released on Monday.

- Rhik Kundu

A sharper rise in new orders fuelled stronger growth in output and purchasing activity, leading to a near-record expansion in input inventories, according to the survey.

The HSBC India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, climbed to 59.2 in October from 57.7 in September, compared with 59.3 in August and 59.1 in July. The index stood at 58.4 in June, 57.6 in May, and 58.2 in April. A reading above 50 indicates expansion in activity.