FX.co ★ India Composite PMI Revised Lower

In April 2025, HSBC India's Composite PMI registered at 59.7, a slight dip from the preliminary estimate of 60.0 but an improvement over March's figure of 59.5. This marks the 45th consecutive month of private sector growth, with the most rapid expansion since August 2024. The acceleration was fueled by the most significant increase in manufacturing activity over the past ten months and the sharpest upturn in the services sector in four months. New orders surged at the fastest pace in eight months, buoyed by robust growth in services, while manufacturing's expansion was largely consistent with the growth in March. Foreign sales saw their quickest increase in nine months, with both manufacturing and services sectors reporting substantial gains. In terms of pricing, input cost inflation lessened, yet there was a more pronounced rise in selling prices. Finally, business sentiment showed improvement among manufacturers, though it declined among service providers.