Manufacturing activity in India advanced further and reached a 31-month high in May, supported by a stronger increase in new orders and favourable market conditions, which resulted in more job opportunities, according to a monthly survey released on Thursday.

The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) increased from 57.2 in April to 58.7 in May, indicating the sector's health has improved significantly since October 2020.

For the 23rd month in a row, the May PMI data indicated an improvement in overall operating conditions. A score above 50 indicates expansion, while a score below 50 indicates contraction.

"The PMI's spotlight on soaring sales demonstrates robust domestic and international demand for Indian-made products."

"While an increase in domestic orders strengthens the economy's foundations, an increase in external business fosters international partnerships and strengthens India's position in the global market." They also created more job opportunities in May, according to Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence.

Based on the survey, companies experienced the fastest growth in international sales in six months.

According to the report, the increase in sales paved the way for even greater increases in production, employment, and purchase quantities.