India's manufacturing PMI slips marginally to 54.8 in May from 54.9 in April: HSBC
The HSBC manufacturing Purchasing Managers' Index (PMI) INPMI=ECI, compiled by Markit, slipped marginally to 54.8 in May from 54.9 in April.
It has stayed above the 50 mark, that separates growth from contraction, for a little over three years now. "Activity in the manufacturing sector kept up the pace in May with output, quantity of purchases and employment expanding at a faster pace. New orders decelerated slightly, led by domestic orders," said Leif Eskesen, economist at HSBC.
The survey's output index rose to 56.4 in May from 56.1 in April, while the employment sub-index rose to its highest level in ten months.
India manufacturing sector is a joke
The survey's output index rose to 56.4 in May from 56.1 in April, while the employment sub-index rose to its highest level in ten months.
India's manufacturing sector kept up its steady expansion in May, with fast-rising output evened out by slowing growth of domestic order books, a business survey showed on Friday.
The HSBC manufacturing Purchasing Managers' Index (PMI), compiled by Markit, slipped marginally to 54.8 in May from 54.9 in April.
It has stayed above the 50 mark, that separates growth from contraction, for a little over three years now.
What a joke... 5.3% even can rank the top five of Asia...
India GDP rank 9th in 2010, and now it rank 13th with 2nd fastest growth in the world??
India's quarterly growth
2011-12 q1 8.0,q2 6.7,q3 6.1,q4 5.3
At least our manufacturing sector is still expanding faster than the rest of the world, though slower than we were last year.
Whereas India's manufacturing sector is actually shrinking.
Buddy I am your biggest fan in India,most elegant member in Chinese community here in PDF.
Political will, sound norms make India front-runner in PPP race
NEW DELHI: India stands in the same league as developed economies like Republic of Korea and Japan on implementation of public-private-partnership (PPP) projects, says a report, giving a thumbs up to the country's efforts to involve private sector in infrastructure development.
A study commissioned by the Asian Development Bank (ADB) shows India, even with its bureaucratic and regulatory hurdles, outscoring China and Japan to rank third on PPP project performance chart among the Asia-Pacific nations. Only the 'mature' economies of Australia and Korea are ahead of India.
"PPP development in India has been driven by strong political will and advancement in public capacity and processes," said the 2011 Infrascope report, which was prepared by the Economist Intelligence Unit.
The report, however, says India lacks a cohesive regulatory framework to unify the national and state-level structures. This leads to uneven regional performance across the country.
The report gave scores on a scale of 100. The higher the score, the more mature the country is to implement infrastructure projects in a PPP mode. Australia got the highest score of 92.3, followed by Korea (71.3), India (64.8) and Japan (63.7). China managed a score of 49.8.
On the basis of the scores, the countries have been divided into 4 categories-nascent, emerging, developed and mature.
India has been placed in the 'developed' category with the likes of Korea, Japan, Brazil, and Chile.
China, Pakistan, Bangladesh and Thailand were tagged as 'emerging' while Australia and United Kingdom were classified as 'mature'. China, which has traditionally bettered India in terms of infrastructure investment and completion of projects, despite topping in implementation fell behind because of its underdeveloped institutional framework and regulatory environment.
India has also surprisingly performed well in enhancing its operational maturity, or the ability to implement infrastructure projects. While India is behind China in operational maturity, it is ahead of the rest of the countries in Asia-Pacific.
With 614 projects in water, electricity and transportation reaching financial closure between 2000 and 2009, China has the highest number of PPP projects, followed by India with 261 projects.
"Government agencies in India have a relatively high level of proficiency in PPP projects, particularly with regard to monitoring of construction," the report said.
While it counting skill shortage as a major hindrance to implementation of infrastructure projects in India, the report batted for the controversial Model Concession Agreements (MCA).
"While there is still no evolved framework, risk allocation has been improving since the introduction of MCA," the report observed. The report adds that middle-income countries, such as India, have utilised technical and financial support of multilateral agencies, including ADB and World Bank, for the development of public sector expertise.
India's high score was primarily due to the efforts taken by the government to put in place a good legal and regulatory framework for PPP projects, giving India an edge over China and Japan.
