The Indian economy may not quite be firing on all cylinders yet, but it is getting close. As consumer demand remains strong, slack in the economy is slowly reducing, shows data released by the Reserve Bank of India. The quarterly ‘Order Books, Inventories and Capacity Utilization Survey’ conducted by the RBI shows that capacity utilization at the end of the March quarter picked up to 75.2 percent. This compares to 74.1 percent in the preceding quarter and 74.6 percent in the same quarter last year. The survey covers 1,061 manufacturing companies and provides a snapshot of the demand conditions in the Indian manufacturing sector.

(Bloomberg Quint)