Surge in oil & gas output

By admin November 30, 2009 10:31 am IST

Although the complete effects of the monetary and fiscal stimulus are yet to uplift the industry, there has been a surge in oil and gas output. However, there should be development in the world trade cycle that is likely to bring about an overall development in the sector. Therefore, this will not only aid the industry to maintain a stable position in the global market but will also help the manufacturing industry to reach new horizons.

In comparison to last month, the manufacturing industry has witnessed an increase in the new orders index, which has soared from 56.2 in August to 58.3 in September. “Although there has been a drop in the orders since the last 4 months, the present rise in the new orders has changed the scenario of the Indian manufacturing industry,” says L. Baura, Manager of GS Engineering Ltd, a mid-size auto manufacturing company in Raipur.
Although there has been a minimal drop in the export orders, the high demand in the domestic market has helped the Indian manufacturers to recover from their losses.