India manufacturing PMI grows at fastest pace in three months in May

India's manufacturing sector expanded at its quickest pace in three months in May on improved output and new orders, according to a private business survey which also showed a pick up in hiring.

The survey found increased optimism about manufacturing activity over the coming year, probably helped as Prime Minister Narendra Modi scored a dramatic election victory on a mandate of business-friendly policies and a tough stand on national security. Almost 70% of responses were collected after exit polls showed Modi's Bharatiya.....

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