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RBI, in its May bulletin noted that based on high frequency indicators, industrial activity exhibited resilience in April, despite ongoing West Asia conflict. The index of eight core industries witnessed an uptick, supported by cement, steel and electricity production. Manufacturing PMI also rose marginally as cost pressures and geopolitical spillovers kept growth momentum in new orders and output slow. Automobile production continued to record strong growth across major segments, with double-digit growth in passenger vehicles, threewheelers and two-wheelers, supported by robust demand. Further, capital goods imports saw strong double-digit growth in April, signalling sustained capex momentum Powered by Commodity Insights
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