With the coronavirus pandemic, China has lost the faith of the world. Many nations are now keen to shift their manufacturing dependency away from China.
China is set to reduce some key interest rates soon to prevent a sharper slump in activities. The interest cuts, if they happen, will be for the first time in over 3 years.
The Indian manufacturing industry is mainly comprised of chemicals, machinery, metals, and textiles. The increasing growth in the manufacturing sector is attributed to Prime Minister Narendra Modi’s ‘Make in India’ initiative, which seeks to transform manufacturing in the country.
The retail inflation has hit a 17-month low of 2.33% in November as against 3.31 per cent in October as the prices of food items, including vegetables have come down.