ENA Sectors 2023-12-08 13:03:05 <p><span style="font-size:14px"><strong>New Delhi, Dec 8 (KNN)</strong> Finance Minister Nirmala Sitharaman on Thursday informed Rajya Sabha that India is the second most sought-after manufacturing destination in world.</span></p> <p><span style="font-size:14px">Manufacturing sector contributes significantly to economy on the back of various measures like PLI scheme, she said.</span></p> <p><span style="font-size:14px">The union minister added that all sectors are growing significantly because of the Make in India programme and PM Modi's schemes.</span></p> <p><span style="font-size:14px">At preset, the manufacturing sector is contributing 13.9 per cent to the economy. The Purchasing Managers Index (PMI) in November was 56. </span></p> <p><span style="font-size:14px">Our second quarter growth has been very high and it is the highest in the world and we continuously maintained that momentum of being the fastest-growing economy, she added. </span></p> <p><span style="font-size:14px">Sitharaman informed that the second quarter growth is the highest in the world and we continue to maintain the momentum of being the fastest growing economy. </span></p> <p><span style="font-size:14px">During the same same quarter-July to September, 2023, the third and fourth largest economies of the world contracted. For India to reach 7.6 per cent in the second quarter, it's a very significant number. In just last eight years, India has become the world's fifth largest economy, Sitharaman told the House.</span></p> <p><span style="font-size:14px">Earlier in the day, Sitharaman said that the Budget 2024 will not have any spectacular announcements. It will be a vote on account to be tabled weeks ahead of the 2024 general elections.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 35820 https://knnindia.co.in/news/newsdetails/sectors/india-worlds-second-most-coveted-manufacturing-hub-says-finance-minister-sitharaman 2023-12-08 13:03:05 knnindia.co.in