3 months ago
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India's manufacturing assemblage enactment maturation jumped to a four-month precocious of 56.9 successful February, supported by important betterment successful home demand, adjacent arsenic maturation successful caller export orders witnessed a decline, a monthly survey said connected Monday (March 1, 2026).
The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) roseate from 55.4 successful January to a four-month precocious of 56.9 successful February. In the PMI parlance, a people supra 50 means expansion, portion a people beneath 50 denotes contraction.
"India's last manufacturing PMI reflected an acceleration successful manufacturing enactment successful February. Output expanded astatine a faster complaint for a 2nd month, supported by stronger home orders," Pranjul Bhandari, Chief India Economist astatine HSBC, said.
Goods producers indicated that request buoyancy, selling initiatives and rising lawsuit requirements underpinned different enlargement successful caller concern intakes.
"According to sheet members, ratio improvements, steadfast underlying demand, rising intakes of caller enactment and tech concern collectively boosted accumulation volumes," the survey said.
One country wherever maturation took a measurement backmost was caller export orders. Where outer income rose, monitored companies cited gains from Asia, Europe the Middle East and the U.S..
"Growth successful caller export orders continued its slowing inclination that began successful mid-2025, somewhat restricting employment instauration successful the manufacturing sector," Ms. Bhandari said.
On the terms front, outgo pressures remained benign, rising astatine a mean complaint that matched the level seen successful January. With full caller orders continuing to grow sharply, manufacturers successful India purchased further materials to supplement accumulation and adhd to inventories.
In effect to expanding workloads, firms stepped up input purchasing, lifted their inventories, and hired other staff. Meanwhile, year-ahead assessments of output volumes remained affirmative arsenic 16% of companies forecast maturation and less than 1% expect a reduction.
Boding good to the outlook were selling efforts and favourable request conditions, the qualitative survey information showed.
The HSBC India Manufacturing PMI is compiled by S&P Global from responses to questionnaires sent to purchasing managers successful a sheet of astir 400 manufacturers.
