The manufacturing and services sectors expanded at a faster pace in April than China, a survey said. The HSBC Emerging Markets Index, the composite index mapping both manufacturing and services for India, stood at 52.5, whereas for China it was 51.3, followed by Brazil (44.2) and Russia (50.8). The index measure of above 50 indicates expansion.
“India remained a relatively bright light in a generally gloomy Asian landscape,” chief economist at Markit Chris Williamson said.
Of the four biggest emerging markets, China registered the weakest rise in output since January, while the Indian private sector business activity rose for the 12th consecutive month.