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. source: S&P Global

Composite PMI in India increased to 56.50 points in September from 54.60 points in August of 2026. Composite PMI in India averaged 53.94 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 56.50 points in September from 54.60 points in August of 2026. Composite PMI in India is expected to be 54.50 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, 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 3157822.00 3370958.00 Units Aug 2026
Car Sales 439309.00 457810.00 Units Aug 2026
Changes in Inventories 1230.63 1095.44 INR Billion Jun 2026
Composite Leading Indicator 101.60 101.46 points Aug 2026
Corruption Index 39.00 38.00 Points Dec 2025
Corruption Rank 91.00 96.00 Dec 2025
Deposit Growth YoY 17.30 17.80 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 374056.00 395199.00 Units Aug 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 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
India Private Sector Growth Revised Lower
India’s HSBC Composite PMI stood at 54.3 in August 2026, down slightly from the flash reading of 54.6 but unchanged from July's reading. The latest result signalled a solid pace of private-sector growth, although it remained the joint-slowest in 4-1/2 years and below the historical trend. Despite accelerating from July, total sales growth remained subdued, with the rate of expansion the second-weakest since February 2022. Growth in goods production slowed, while service providers recorded a faster upturn. Aggregate employment increased at the fastest pace in 14 months, as robust hiring among service firms more than offset continued job shedding in manufacturing. Meanwhile, composite input-cost inflation eased to a seven-month low, although the pace of charge inflation accelerated to its strongest since April.
2026-09-03
India Composite PMI Rises from Over 4-Year Low
India’s HSBC Composite Flash PMI edged up to 54.6 in August 2026 from a final 54.3 in the previous month, which had marked the lowest reading since March 2022. Services growth strengthened, offsetting the weakest factory output in five years. New orders rose marginally, staying below recent trends, while export demand remained solid, with firms citing stronger orders from the US, Germany, China, Singapore, and Japan. Hiring accelerated to match the joint-fastest pace since June 2025, as companies expanded staff to meet demand. Outstanding business fell at its steepest rate in five years, though modestly, reflecting backlog clearances. Input costs rose firmly on higher electricity, steel, transport, and tech expenses, yet cost inflation eased to a seven-month low. Selling price inflation, however, picked up to its strongest since April, driven by both services and manufacturing. Lastly, sentiment inched higher, lifted by expectations of improving market conditions.
2026-08-21