The HSBC India Composite PMI rose to 58.9 in February 2026 from 58.4 in the previous month, though it remained slightly below the flash estimate of 59.3. The latest reading marked the strongest expansion since November, supported by a significant improvement in demand conditions. Overall, new order growth remained broadly in line with rates seen around the turn of the year, while job creation accelerated to its fastest level since October. Manufacturing led the expansion, posting sharper gains in both output and sales. In contrast, growth in the services sector moderated, though it remained firmly in expansionary territory. On the price front, both input costs and output charges rose at faster rates, with overall price increases reaching nine- and six-month highs, respectively. Services firms were the primary source of price pressures, reporting stronger cost and charge inflation than their manufacturing counterparts, highlighting persistent underlying demand in the services economy. source: S&P Global

Composite PMI in India increased to 58.90 points in February from 58.40 points in January of 2026. Composite PMI in India averaged 53.81 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 58.90 points in February from 58.40 points in January of 2026. Composite PMI in India is expected to be 59.00 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 55.00 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 74.80 75.80 percent Dec 2025
Car Production 2927394.00 2633506.00 Units Jan 2026
Car Sales 449616.00 399216.00 Units Jan 2026
Changes in Inventories 836.46 808.97 INR Billion Sep 2025
Composite Leading Indicator 101.90 101.68 points Feb 2026
Corruption Index 39.00 38.00 Points Dec 2025
Corruption Rank 91.00 96.00 Dec 2025
Deposit Growth YoY 11.90 11.20 percent Feb 2026
Electricity Production 126407.87 111874.48 Gigawatt-hour Dec 2025
Industrial Production YoY 4.80 8.00 percent Jan 2026
Industrial Production Mom -3.70 7.60 percent Jan 2026
Manufacturing Production YoY 4.80 8.40 percent Jan 2026
Mining Production 4.30 6.90 percent Jan 2026
Steel Production 15100.00 14800.00 Thousand Tonnes Jan 2026
Passenger Vehicle Sales 418000.00 379394.00 Units Feb 2026


India Composite PMI
In India, the Nikkei 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 Composite PMI Revised Lower
The HSBC India Composite PMI rose to 58.9 in February 2026 from 58.4 in the previous month, though it remained slightly below the flash estimate of 59.3. The latest reading marked the strongest expansion since November, supported by a significant improvement in demand conditions. Overall, new order growth remained broadly in line with rates seen around the turn of the year, while job creation accelerated to its fastest level since October. Manufacturing led the expansion, posting sharper gains in both output and sales. In contrast, growth in the services sector moderated, though it remained firmly in expansionary territory. On the price front, both input costs and output charges rose at faster rates, with overall price increases reaching nine- and six-month highs, respectively. Services firms were the primary source of price pressures, reporting stronger cost and charge inflation than their manufacturing counterparts, highlighting persistent underlying demand in the services economy.
2026-03-04
India Composite PMI Rises to 3-Month Peak
The HSBC India Composite PMI increased to 59.3 in February 2026 from a final 58.4 in the previous month, flash data showed. It was the highest reading since last November, amid a quicker upturn in factory production, as growth of services activity was broadly similar to that in January. Output and new orders grew the most in three months, helped by local tourism, marketing initiatives, and rising client enquiries. Foreign sales also grew at the quickest rate since last September. Hiring strengthened to a three-month high, while outstanding business rose for a third month, marking the sharpest rise since July 2025, though the overall accumulation was modest. On the price front, input costs climbed at the steepest rate in 15 months, reflecting mounting pressures that pushed selling prices to a six-month high, above their long-run average. Finally, sentiment hit its strongest level in a year, as firms expressed confidence that investment and marketing efforts will deliver results.
2026-02-20
India Composite PMI Revised Lower
India’s Composite PMI by HSBC came in at 58.4 in January 2026, below the flash print of 59.5 yet higher than December’s 11-month low of 57.8. The figure points to a solid pace of expansion, driven by improved momentum among goods producers and service providers. New order growth reached a two-month high, fueled by stronger demand across both manufacturing and services. Employment also picked up after stagnating in December, with modest job creation recorded in both sectors. On the price front, input cost and output charge inflation accelerated to four- and three-month highs respectively, though remained muted by historical standards.
2026-02-04