New Delhi, Aug 1 || India’s manufacturing sector gained momentum in the month of July as Purchasing Managers’ Index (PMI) rose to a 16-month high of 59.1, up from 58.4 in June, despite global uncertainties and US tariffs, according to data released by S&P Global on Friday.
The HSBC India Manufacturing Purchasing Managers’ Index (PMI) climbed to a 16-month high of 59.1, driven by strong gains in new orders and output, though business sentiment and hiring momentum showed signs of moderation.
“India recorded a 59.1 manufacturing PMI in July, up from 58.4 during the prior month. This marked a 16-month high for the sector, which benefited from strong growth in new orders and output,” said Pranjul Bhandari, chief India economist at HSBC.
“At the same time, however, business confidence fell to its lowest level in three years due to concerns over competition and inflation,” Bhandari added.
India’s manufacturing sector remains on a strong footing entering the second half of FY25.
The sustained manufacturing resilience comes on the back of robust domestic demand and continued output expansion.
India's private sector showed robust growth in July, fuelled by strong manufacturing and global demand. The headline HSBC Flash India Composite PMI Output Index, compiled by S&P Global, rose to 60.7 in July from 58.4 in June.