The last few months of this year marked the emergence of a new, confident India Inc, especially in the manufacturing sector. Indian companies are not only holding on to their home turf, but are also printing global footprints, with de-bottlenecking, acquisitions and expansions. Moreover, companies are trying to put innovation and advanced technology adoption at the centre for all their product and service offerings, as the Indian market is fast integrating into that of the world.
According to the data released recently by the Central Statistics Office (CSO), the GDP grew at 8.2% in April-June, the first quarter of the fiscal year, which is higher than the previous quarter’s 7.7% and 5.6% in the first quarter of 2017-18. In fact, this was the fastest expansion since the January-March quarter of 2016. The interesting part of this growth is that the manufacturing sector rose an annual 13.5% as compared to a decline of 1.8% in the same quarter last year.
