Schedule a Call Back
India’s composite PMI hits 8-month peak in April on strong demand
Industry News- Apr 25,25
Manufacturing led the momentum, with its PMI reaching a one-year high of 58.4, up from 58.1.
India’s private sector activity accelerated to an eight-month high in April, buoyed by robust domestic demand and a sharp increase in foreign orders, especially for manufactured goods, according to the HSBC Flash India Composite Purchasing Managers’ Index (PMI) by S&P Global.
The Composite PMI rose to 60.0 in April from 59.5 in March, signalling the fastest expansion in combined manufacturing and services output since August. A reading above 50 indicates growth.
Manufacturing led the momentum, with its PMI reaching a one-year high of 58.4, up from 58.1. The services PMI also strengthened, rising to 59.1 from 58.5 — its highest in four months.
The upswing was driven by a surge in goods production and new orders, including a jump in export orders to their highest level since September 2014. The manufacturing sector posted its strongest performance in over 15 years, aided by India's rising profile as a global manufacturing alternative amid China’s trade challenges.
In response, both sectors ramped up output and hiring, with manufacturing employment hitting its highest level since March 2005.
(TOI)
Related Stories
Electrical & Electronics
Renesas boosts India presence with R&D hubs and chip startup partnerships
MOUs with Indian Government and New Offices Mark Growth in Key Semiconductor Hubs
Read moreProcess Equipment
Vipul Organics opens a US sales office in the State of Delaware
Based at the State of Delaware, this office will give a boost to the sales and marketing efforts of the company in USA as well as Central American Countries.
Read moreFabrication
Jindal Stainless unveils pioneering supply chain digitalisation project
Project Pragati, in collaboration with Dassault Systèmes and Capgemini, will streamline operations from casting to finishing at Jindal Stainless’ Hisar manufacturing unit, improving productivity ..
Read moreRelated Products
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
