According to HSBC, the Purchasing Mangers Index (PMI) for India increased to 57.6 from 57.3, which may push the Central Bank to another round of interest rate hikes, reports Penny MacRae for AFP. Frederic Neumann, HSBC co-head of Asian economics, expects robust demand to keep fueling manufacturing orders.
A little more than half of India’s entire workforce is in agriculture, but services, only one-third of the labor force, accounts for more than half of India’s output, according to the CIA World Factbook. The country doesn’t rely on foreign imports and domestic demand has proven to be a key component of growth.
Can India find that balance that allows them to keep growth and inflation in check while still progressing at a healthy rate? Only time will tell.
For more information on India, visit our India category. There are seven ways to play India directly, according to the ETF Analyzer, including these five.
- PowerShares India (NYSEArca: PIN)
- WisdomTree India Earnings (NYSEArca: EPI)
- iShares S&P India Nifty 50 Index (NYSEArca: INDY)
- EG Shares Indxx India Small Cap ETF (NYSEArca: SCIN)
- EG Shares Indxx India Infrastructure Fund (NYSEArca: INXX)
Max Chen contributed to this article.