India’s HSBC Composite PMI fell to 54.3 in July from a final 57.1 in the prior month, flash data showed. It was the lowest reading since March 2022, reflecting the impact of persistent hostilities in the Middle East on business activity. Services sector growth slowed sharply while factory output accelerated. New orders rose at the weakest pace in near 4-1/2 years amid challenging market conditions, intense competition, and order cancellations. Still, export orders grew the most since March, while employment increased for a seventh straight month. Outstanding business fell for the first time in three months, largely due to backlog clearances in the services sector. On the price front, input cost inflation accelerated, driven by higher fuel, labor, material, and transport costs. Meanwhile, output price inflation hit the strongest level since April. Finally, sentiment eased to a six-month low, with stronger optimism among manufacturers offset by weaker mood in the services sector. source: S&P Global

Composite PMI in India decreased to 54.30 points in July from 57.10 points in June of 2026. Composite PMI in India averaged 53.92 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 decreased to 54.30 points in July from 57.10 points in June of 2026. Composite PMI in India is expected to be 57.20 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 118.80 126.30 points Mar 2026
Capacity Utilization 75.60 74.30 percent Mar 2026
Car Production 3015528.00 2927711.00 Units Jun 2026
Car Sales 388144.00 438854.00 Units Jun 2026
Changes in Inventories 1095.44 1103.92 INR Billion Mar 2026
Composite Leading Indicator 101.25 101.20 points Jun 2026
Corruption Index 39.00 38.00 Points Dec 2025
Corruption Rank 91.00 96.00 Dec 2025
Deposit Growth YoY 12.70 13.30 percent Jul 2026
Electricity Production 142996.07 137001.32 Gigawatt-hour May 2026
Industrial Production YoY 7.30 5.00 percent Jun 2026
Industrial Production Mom 0.50 3.60 percent Jun 2026
Manufacturing Production YoY 7.80 5.20 percent Jun 2026
Mining Production 1.00 -1.40 percent Jun 2026
Steel Production 14100.00 14100.00 Thousand Tonnes Jun 2026
Passenger Vehicle Sales 326068.00 379764.00 Units Jun 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 Activity Slows to Weakest Since 2022
India’s HSBC Composite PMI fell to 54.3 in July from a final 57.1 in the prior month, flash data showed. It was the lowest reading since March 2022, reflecting the impact of persistent hostilities in the Middle East on business activity. Services sector growth slowed sharply while factory output accelerated. New orders rose at the weakest pace in near 4-1/2 years amid challenging market conditions, intense competition, and order cancellations. Still, export orders grew the most since March, while employment increased for a seventh straight month. Outstanding business fell for the first time in three months, largely due to backlog clearances in the services sector. On the price front, input cost inflation accelerated, driven by higher fuel, labor, material, and transport costs. Meanwhile, output price inflation hit the strongest level since April. Finally, sentiment eased to a six-month low, with stronger optimism among manufacturers offset by weaker mood in the services sector.
2026-07-24
India Composite PMI Revised Lower
India’s HSBC Composite PMI fell to 57.1 in June 2026 from May’s 59.3, below the flash estimate of 57.4 and marking the lowest reading since March. The latest data pointed to softer expansions in both manufacturing and services activity. New orders grew at the weakest pace in three months, while employment increased at its slowest rate so far this year. Overseas demand also lost momentum, with export orders rising at the weakest pace in nearly two years. As growth moderated, easing cost pressures allowed businesses to scale back price increases. Input cost inflation eased to a five-month low, while output price inflation slowed to a seven-month low. Looking ahead, business confidence slipped to a five-month low, as both manufacturers and service providers became less optimistic about future output.
2026-07-03
India Composite PMI Eases to 3-Month Low
India’s HSBC Composite PMI fell to 57.4 in June 2026 from a final 59.3 in the prior month, flash data showed. It was the lowest reading since March as growth slowed across both the manufacturing and services sectors. New orders expanded the least in three months while overseas demand remained resilient despite growing at its slowest rate in 21 months. Employment continued to rise, though its rate of increase was the weakest in the current six-month expansion, leaving backlogs of work broadly unchanged. On the price front, input costs rose further, due to higher material prices, but overall cost inflation eased for a third straight month to its lowest since January. Meanwhile, firms raised selling prices at the slowest pace in six months, reflecting cautious pricing amid softer demand and intense competition. Looking ahead, confidence weakened to its lowest level since January and remained below the long-run average, signaling a more cautious outlook for activity in the months ahead.
2026-06-23