The HSBC India Composite PMI rose to 58.3 in April 2026 from a final 57.0 in the pevious month, which had marked the lowest level since late 2022, amid disruptions linked to the Middle East conflict. Flash estimates signaled a strong pace of private-sector expansion, staying well above its long-run average. Growth was driven by faster manufacturing output, while services activity continued to expand robustly. New orders accelerated at a historically strong pace. Employment rose the most in ten months, with hiring picking up across both manufacturing and services firms. However, growth in new export business softened. On prices, input cost inflation was the second-steepest in nearly three years, driven by higher fuel, gas, oil, and raw material costs. Output price inflation remained elevated but was well below the pace of input cost increases. Finally, business confidence eased from March’s level but remained the second-highest in almost 1-1/2 years. source: S&P Global

Composite PMI in India increased to 58.30 points in April from 57 points in March of 2026. Composite PMI in India averaged 53.86 points from 2013 until 2026, reaching an all time high of 63.20 points in August of 2025 and a record low of 7.20 points in April of 2020. This page provides - India Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Composite PMI in India increased to 58.30 points in April from 57 points in March of 2026. Composite PMI in India is expected to be 57.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the India Composite PMI is projected to trend around 55.00 points in 2027 and 53.00 points in 2028, according to our econometric models.



Related Last Previous Unit Reference
Business Confidence 126.30 126.20 points Dec 2025
Capacity Utilization 75.60 74.30 percent Mar 2026
Car Production 2978173.00 2864612.00 Units Mar 2026
Car Sales 442460.00 417705.00 Units Mar 2026
Changes in Inventories 836.46 808.97 INR Billion Sep 2025
Composite Leading Indicator 102.06 101.91 points Mar 2026
Corruption Index 39.00 38.00 Points Dec 2025
Corruption Rank 91.00 96.00 Dec 2025
Deposit Growth YoY 13.50 10.80 percent Mar 2026
Electricity Production 134739.80 119706.27 Gigawatt-hour Mar 2026
Industrial Production YoY 5.20 4.80 percent Feb 2026
Industrial Production Mom -6.40 -0.50 percent Feb 2026
Manufacturing Production YoY 6.00 5.30 percent Feb 2026
Mining Production 3.10 4.30 percent Feb 2026
Steel Production 15300.00 13600.00 Thousand Tonnes Mar 2026
Passenger Vehicle Sales 376268.00 418000.00 Units Mar 2026


India Composite PMI
In India, the HSBC India Composite Output Index is a weighted average of the Manufacturing Output Index and the Services Business Activity Index and tracks business trends across private sector activity, based on data collected from a representative panel of around 800 companies. The index tracks variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
India Private Sector Growth Strengthens
The HSBC India Composite PMI rose to 58.3 in April 2026 from a final 57.0 in the pevious month, which had marked the lowest level since late 2022, amid disruptions linked to the Middle East conflict. Flash estimates signaled a strong pace of private-sector expansion, staying well above its long-run average. Growth was driven by faster manufacturing output, while services activity continued to expand robustly. New orders accelerated at a historically strong pace. Employment rose the most in ten months, with hiring picking up across both manufacturing and services firms. However, growth in new export business softened. On prices, input cost inflation was the second-steepest in nearly three years, driven by higher fuel, gas, oil, and raw material costs. Output price inflation remained elevated but was well below the pace of input cost increases. Finally, business confidence eased from March’s level but remained the second-highest in almost 1-1/2 years.
2026-04-23
India Composite PMI Revised Higher
The HSBC India Composite PMI was revised up to 57.0 in March 2026 from a flash estimate of 56.5, but eased from 59.9 in the previous month, marking the weakest reading since November 2022. Growth remained driven by services, while manufacturing expanded at a softer pace, with both sectors showing moderation. Total new orders rose at the slowest rate since November 2023, signaling some cooling in domestic demand, even as export orders increased at the fastest pace in seven months. Cost pressures intensified to their highest level in nearly four years. However, pricing trends diverged: service providers raised selling prices more aggressively, while manufacturers recorded the weakest increase in output charges in two years. At the composite level, overall inflation remained broadly stable compared to February.
2026-04-06
India Composite PMI Falls to Lowest Level Since 2022
The HSBC India Composite PMI fell to 56.5 in March 2026 from 58.9 in February, below market expectations of 58.7, flash estimates showed. This was the weakest expansion in Indian private sector activity since October 2022, as growth moderated across both manufacturing and services amid the ongoing Middle East conflict. Companies cited the war, volatile market conditions, and persistent inflationary pressures as key factors dampening growth. Softer domestic demand weighed on new orders, which increased at the slowest pace in over three years, even as new export orders surged to a record high. Cost pressures intensified, with input costs and selling prices rising at their fastest rates in 45 and seven months, respectively. Despite these challenges, firms remained optimistic about output growth over the next 12 months, citing efficiency improvements, marketing initiatives, and new client inquiries as key drivers of their positive outlook.
2026-03-24