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India's domestic manufacturing sector is upbeat, KPMG report says
According to the 'Global Trade Outlook Survey' released by KPMG International: In the next 12 months, the earnings of domestic manufacturers in India will continue to develop. According to the survey, the Indian manufacturing industry has a very optimistic outlook for trade this year, with both production and orders increasing, and there will be a great increase in Ru0026D and capital investment. Richard Rekhy, Head of Consulting, KPGM India, said: 'The economy of the country is showing very strong momentum, the major stock market indices are moving in the right direction, and corporate and excise taxes are increasing. In addition, the recent three-dimensional Service auctions are also generating steady and healthy returns.” There is a main reason why manufacturers are so optimistic about the trade development. The HSBC Markets Purchasing Managers' Index (PMI), one of the country's most reliable parameters for precision manufacturing, has consistently surpassed 50 for the past few months - 59 in May, 57.3 in June, and 57.3 in July is 57.6. Vivek Kumar Saha, managing director of Choudhary, said: 'The Reserve Bank of India forecasts that the gross domestic product (GDP) will grow by 8% in 2010-2011, which is the main reason for the increase in investment confidence among Indian manufacturers due to higher GDP growth. It means a stimulus to the entire trade activity. Manufacturing companies in various industries (such as telecommunications, automobiles, power accessories, etc.) have established manufacturing bases in this country, which has a greater role in promoting the development of domestic manufacturing trade. KPMG report Think big gains in earnings over the next 12 months.