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Informist, Monday, Nov. 3, 2025

 

--India Oct manufacturing PMI 59.2 vs 57.7 in Sept

 

NEW DELHI – India's manufacturing activity gained pace in October with the HSBC India Manufacturing Purchasing Managers' Index rising to 59.2 from a four-month low of 57.7 in September, S&P Global said Monday.

 

The manufacturing sector activity in India got strong support from the government's goods and services tax relief--rolled out Sept. 22--productivity gains and tech investment, S&P Global, which compiles the PMI, said in a release. "A faster increase in new orders boosted growth of output and buying levels, and the latter drove a near-record expansion in input inventories," the release added.

 

The final manufacturing PMI print for October was higher than the flash figure of 58.4, data for which was released on Oct. 24. A PMI reading of more than 50 denotes expansion in activity, while a print below it shows contraction.

 

The pick-up in October stemmed primarily from domestic market, whereas new export orders rose at a softer pace, according to S&P Global. "The latest improvement in international demand for Indian goods was marked, though the least pronounced in the calendar year-to-date," the release said. The softer pace in export order may be attributable to the 50% tariff on Indian goods in the US, India's top export destination.

 

Manufacturers continued to purchase additional raw materials and semi-finished items in October, reportedly to supplement production and add to their inventories, the release said. This was on account of the softening of cost inflation. "The latest rise in overall expenses was modest, the weakest in eight months and well below the long-run series average," the release said.

 

"Input prices moderated in October while average selling prices increased as some manufacturers passed on additional cost burdens to end-consumers," the release said quoting HSBC Chief India Economist Pranjul Bhandari. "Looking ahead, future business sentiment is strong due to positive expectations around GST reform and healthy demand."

 

Overall, the pace of expansion in the manufacturing sector was sharp and stronger than that recorded in September. Similarly, growth of output quickened from the previous month. "Matching that seen in August, the rate of expansion was the joint-best in five years," the release said.  End

 

Reported by Krity Ambey

Edited by Akul Nishant Akhoury

 

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