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Informist, Thursday, Apr. 23, 2026

 

--India Apr flash composite PMI output index 58.3 vs 57.0 Mar final

--India Apr flash services PMI activity index 57.9 vs 57.5 Mar final

--India Apr flash manufacturing PMI 55.9 vs 53.9 in Mar final

 

NEW DELHI – India's private sector activity accelerated in April after the sector saw slowest pace of expansion in 14 months in March. The accelerated growth was supported by capacity expansion, better demand conditions, rise in new orders, and investment in technology development, S&P Global said in a release Thursday. The HSBC Flash Composite Purchasing Managers' Index rose to 58.3 in April from 57.0 in March.

 

April's print also indicated a sharp rate of growth that was substantial relative to its long-run average, the report said.

 

India's private sector activity expanded in April on the back of aggregated activity and new orders received during the month. The HSBC Flash Services Purchasing Managers' Index rose to 57.9 in April from 57.5 in March. "New orders likewise rose at a quicker pace than in March and one that was historically strong," S&P Global said. A PMI reading of more than 50 denotes expansion in activity from the previous month, while a print below 50 indicates contraction.

 

Even as inflation rates remained historically elevated, it retreated from those registered in March due to a cool down in the service sector, S&P Global said. Price pressures, however, intensified for the manufacturing sector. The Flash Manufacturing Purchasing Managers' Index rose to 55.9 in April from 53.9 in March, led by notable rebounds in rates of increase for output and sales, compiler S&P said. 

 

At the sector level, service providers recorded the weakest growth in just over a year owing to the war in West Asia. However, the manufacturing sector witnessed the fastest expansion in nine months, according to S&P Global. At the composite level, new export business rose at a softer rate than in March, the report said.

 

In April, finished goods inventory of companies rose for the first time in six months and at the quickest pace since May 2015, S&P Global said. "Input inventories rose markedly, albeit at the slowest pace in the current 58-month sequence of accumulation."

 

"The survey indicated that firms are building buffer stocks to manage the uncertainties around the longevity of the supply-side shock...Input cost pressures remained elevated, and firms passed through part of the increase via higher selling prices," Pranjul Bhandari, chief India economist at HSBC, said.

 

The implications of the West Asia war are seen as the private sector companies in India continued to report elevated cost pressures in April due to higher energy and raw material prices. "They particularly signalled greater outlays on chemicals, food, jute, leather, metals, rubber and transportation," the report said. This led the overall rate of input cost inflation to the "second-steepest in close to three years," S&P Global said, although this was below the level seen in March.

 

The private sector in India also reported a 10-month-high growth in the rate of job creation in April. "Hiring growth strengthened at manufacturing firms and their services counterparts, with the quicker upturn among the former," S&P Global said.

 

Indian companies foresee an increase in output over the course of the coming 12 months. According to them, marketing efforts should support demand for their goods and services, with projects pending approval and rising client enquiries also boosting optimism. "The overall level of confidence fell since March, but was the second-highest in nearly a year-and-a-half," S&P Global said.  End

 

Reported by Shweta

Edited by Ashish Shirke

 

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