Iman’s Monthly Report – April 2023

Manufacturing PMI expanded to 57.2 in April (versus 56.4 in March), while Services PMI also expanded to 62.0 from 57.8 in March.
Index of Industrial Production (IIP) saw a slowdown in March with a reading of 1.1% YoY versus 5.6% YoY in February.
Coal production grew at 8.87% in April, but it is expected that Steel and Cement production and Electricity generation will be flat or marginally negative.
Railway freight traffic grew by 3.5% YoY to 126.46 million tons in April 2023.
GST revenue for April 2023 is 12% higher YoY. E-way generation amounted to 84.4 million in April 2023. This was 7.1% lower than its peak of 90.9 million achieved in March 2023.
Passenger Vehicle retail sales contracted by 1.35% YoY to 282,674, in April 2023.
Commercial Vehicle sales grew by 1.91% YoY to 85,587 in April 2023.
India’s exports dipped by 12.7% YoY to US$ 34.66 billion in April. This is against US$ 39.7 billion in April last year. India’s imports also declined by 14% to US$ 49.9 billion as against US$ 58.06 billion in April last year. India’s April trade deficit stood at US$ 15.24 billion.

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This analysis has been compiled by obtaining data from Iman Resources’ sources.