Anupam Kher is the new FTII chairman, replaces Gajendra Chauhan

Bengaluru, Feb 3: India's manufacturing activity expanded at its quickest pace in nearly eight years in January with robust growth in new orders and output, a private survey showed on Monday, suggesting the economy may be getting back on firmer footing.

In response to the jump in sales, factories hired new workers at the fastest rate in more than seven years.

If sustained, the improvement in business conditions could point to a gradual economic recovery in coming months, as forecast by analysts in a Reuters poll last month, after growth slowed to a more than six-year low in the July-September quarter.

The Nikkei Manufacturing Purchasing Managers' Index , compiled by IHS Markit, jumped to 55.3 last month from 52.7 in December. It was the highest reading since February 2012 and above the 50-mark separating growth from contraction for the 30th straight month.

"The PMI results show that a notable rebound in demand boosted growth of sales, input buying, production and employment as firms focused on rebuilding their inventories and expanding their capacities in anticipation of further increases in new business," Pollyanna De Lima, principal economist at IHS Markit, said in a news release.

A new orders sub-index that tracks overall demand hit its highest level since December 2014 and output grew at its fastest pace in over seven and a half years, pushing manufacturers to hire at the strongest rate since August 2012.

Meanwhile, both input costs and output prices rose at a slower pace, indicating overall inflation may have eased after hitting a more than five year high of 7.35% in December, although probably not below the Reserve Bank of India's medium-term target of 4%.

That might keep the central bank, which cut its key interest rate by a cumulative 135 basis points last year, on the sidelines over the coming months.

"To complete the good news, there was also an uptick in business confidence as survey participants expect buoyant demand, new client wins, advertising and product diversification to boost output in the year ahead," added De Lima.

Jan 27: Bidders for Air India Ltd. will need to absorb $3.26 billion of its debt, as Prime Minister Narendra Modi’s administration tries once again to sell the national carrier.

The entire company will be sold but effective control needs to stay with Indian nationals, according to preliminary terms published Monday. Bids are invited by March 17 with Ernst & Young LLP India as transaction adviser.

Air India, which started in 1932 as a mail carrier before winning commercial popularity, saw its fortunes fade with the emergence of cutthroat low-cost competition. The state-run airline has been unprofitable for over a decade and is saddled with more than $8 billion in debt.

Indian regulations allow a foreign airline to buy as much as 49% of a local carrier, while overseas investors other than airlines can buy an entire carrier. The government didn’t find a single bidder when it tried to sell Air India in 2018.

Mumbai, Jun 24: Veteran choreographer Saroj Khan has been admitted to a hospital here after she complained of breathing problems.

According to a source close to her family, the 71-year old choreographer was rushed to Guru Nanak Hospital in Bandra on Saturday.

Following her hospitalisation, a mandatory Covid-19 test was done, which turned out to be negative.

"She is fine now and recovering. She had breathing issues and was taken to hospital for that. Her Covid test was done which turned out negative. She doesn't have any symptoms. She is likely to be discharged in a day or two," the source told PTI.

In a career spanning over four decades, Khan is credited with choreographing more than 2,000 songs.

The three-time National Award winner has choreographed for some of the most memorable tracks, including "Dola Re Dola" from Sanjay Leela Bhansali's "Devdas", "Ek Do Teen" from Madhuri Dixit-starrer "Tezaab" and "Ye Ishq Haaye" from "Jab We Met" in 2007.

She last choreographed for "Tabaah Hogaye", featuring Madhuri from filmmaker Karan Johar's production "Kalank" in 2019.