India’s HSBC Composite PMI rose to 56.7 in October 2026 from a final 55.9 in the prior month, flash data showed. It was the fastest growth in private-sector activity since June, with the services sector accelerating while factory output stayed resilient. New orders quickened, and foreign sales increased the most in six months, reflecting robust demand from the U.S., the UK, the Middle East and Bangladesh. However, employment rose at its slowest pace this year. Backlogs of work fell for the third time in four months, with the pace of depletion matching August 2021’s 6-1/2-year high and ranking among the sharpest since the global financial crisis. Price pressures continued to ease, as input cost inflation slowed for a seventh straight month to its lowest in near a year, while output price inflation hit its lowest since March 2025. Looking ahead, confidence reached its highest since May on expectations of stronger market conditions, although it remained below the average for 2026 so far. source: S&P Global

Composite PMI in India increased to 56.70 points in October from 55.90 points in September of 2026. Composite PMI in India averaged 53.95 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 56.70 points in October from 55.90 points in September of 2026. Composite PMI in India is expected to be 57.00 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 55.90 points in 2027 and 55.00 points in 2028, according to our econometric models.



Related Last Previous Unit Reference
Business Confidence 111.10 118.80 points Sep 2026
Capacity Utilization 77.40 75.60 percent Jun 2026
Car Production 3452554.00 3157822.00 Units Sep 2026
Car Sales 454574.00 439309.00 Units Sep 2026
Changes in Inventories 1230.63 1095.44 INR Billion Jun 2026
Composite Leading Indicator 102.00 101.82 points Sep 2026
Corruption Index 39.00 38.00 Points Dec 2025
Corruption Rank 91.00 96.00 Dec 2025
Deposit Growth YoY 17.80 17.30 percent Sep 2026
Electricity Production 144161.76 144025.62 Gigawatt-hour Aug 2026
Industrial Production YoY 8.00 7.40 percent Aug 2026
Industrial Production Mom -1.80 0.60 percent Aug 2026
Manufacturing Production YoY 9.00 8.20 percent Aug 2026
Mining Production -5.60 -0.90 percent Aug 2026
Steel Production 14800.00 14400.00 Thousand Tonnes Aug 2026
Passenger Vehicle Sales 385764.00 374056.00 Units Sep 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 at 4-Month High
India’s HSBC Composite PMI rose to 56.7 in October 2026 from a final 55.9 in the prior month, flash data showed. It was the fastest growth in private-sector activity since June, with the services sector accelerating while factory output stayed resilient. New orders quickened, and foreign sales increased the most in six months, reflecting robust demand from the U.S., the UK, the Middle East and Bangladesh. However, employment rose at its slowest pace this year. Backlogs of work fell for the third time in four months, with the pace of depletion matching August 2021’s 6-1/2-year high and ranking among the sharpest since the global financial crisis. Price pressures continued to ease, as input cost inflation slowed for a seventh straight month to its lowest in near a year, while output price inflation hit its lowest since March 2025. Looking ahead, confidence reached its highest since May on expectations of stronger market conditions, although it remained below the average for 2026 so far.
2026-10-23
India Composite PMI Revised Lower
India’s HSBC Composite PMI stood at 55.9 in September 2026, down from a flash reading of 56.6 but up from 54.6 in the previous month. The latest result marked the highest level since June, although the average for the second fiscal quarter was the lowest since Q1 2022. New order growth accelerated, but its quarterly performance remained the weakest since the end of fiscal 2021/22, pointing to softer underlying demand momentum. Meanwhile, the resumption of job creation in manufacturing, alongside sustained employment growth among service providers, lifted overall private-sector employment. Price pressures also eased, with firms reporting the weakest increases in input costs in nine months and output charges in three months, suggesting a moderation in inflationary pressures.
2026-10-06
India Private Sector Growth at 3-Month High
India’s HSBC Composite PMI rose to 56.5 in September 2026 from a final 54.6 in August, flash data showed, marking the fastest expansion in private-sector activity since June and remaining above its long-run average. Output growth accelerated modestly in both manufacturing and services, with demand strengthening across the two sectors. New export orders continued to increase, although growth slowed to its weakest pace in nearly three years, reflecting softer gains among service providers despite a marginal acceleration in manufacturing. Employment rose solidly, with both sectors adding staff at broadly similar rates as output and new orders continued to expand. Outstanding business increased marginally after declining in the previous two months. On prices, input-cost inflation eased to its lowest level since January, while selling-price inflation was broadly unchanged. Business confidence strengthened across manufacturing and services, lifting overall optimism to a four-month high.
2026-09-23