India's growth engine is starting to slow down again with covid cases continuing to spike. With barely new orders in the manufacturing side, growth of orders and production saw the slowest growth in 8 months.
India's manufacturing PMI remained at 55.5 mark in April which marks an expansion but also is the slowest rate of growth since September last year.
Forecasters at IHS Markit that compile the data warned that "the surge in COVID-19 cases could dampen demand further when firms' financials are already susceptible to the hurdle of rising global prices."