India's HSBC Manufacturing PMI rose to 55.1 in September 2026 from 52.8 in August, revised down from a preliminary estimate of 55.7, but marking the strongest improvement in the sector's health in seven months. New orders increased at their fastest pace in seven months, while output growth accelerated to a four-month high, supported by firmer demand for electronic, food, pharmaceutical and textile products. New export orders also expanded at a quicker pace, with stronger demand from Brazil, Europe, the UAE and the US. The pickup in demand supported a solid resumption in factory employment, with employment growth rising at its fastest pace since May. Purchasing activity and inventories also increased at faster rates, while business confidence improved to a four-month high. On prices, input cost inflation accelerated, driven by higher prices for electronic components, pharmaceutical items and steel, while selling price inflation also quickened but remained modest. source: S&P Global

Manufacturing PMI in India increased to 55.10 points in September from 52.90 points in August of 2026. Manufacturing PMI in India averaged 53.44 points from 2012 until 2026, reaching an all time high of 59.30 points in August of 2025 and a record low of 27.40 points in April of 2020. This page provides the latest reported value for - India Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Manufacturing PMI in India increased to 55.10 points in September from 52.90 points in August of 2026. Manufacturing PMI in India is expected to be 54.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the India Manufacturing PMI is projected to trend around 54.00 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 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 Manufacturing PMI
The HSBC India Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 500 manufacturing companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change. 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 Factory Growth Revised Down
India's HSBC Manufacturing PMI rose to 55.1 in September 2026 from 52.8 in August, revised down from a preliminary estimate of 55.7, but marking the strongest improvement in the sector's health in seven months. New orders increased at their fastest pace in seven months, while output growth accelerated to a four-month high, supported by firmer demand for electronic, food, pharmaceutical and textile products. New export orders also expanded at a quicker pace, with stronger demand from Brazil, Europe, the UAE and the US. The pickup in demand supported a solid resumption in factory employment, with employment growth rising at its fastest pace since May. Purchasing activity and inventories also increased at faster rates, while business confidence improved to a four-month high. On prices, input cost inflation accelerated, driven by higher prices for electronic components, pharmaceutical items and steel, while selling price inflation also quickened but remained modest.
2026-10-01
India Manufacturing Expands Most in 7 Months
India's HSBC Manufacturing PMI rose to 55.7 in September 2026 from 52.8 in August, marking the strongest improvement in the sector's health since February, preliminary estimates showed. Output and new orders grew at faster rates, with goods producers reporting stronger demand. New export orders also increased at a marginally faster pace, with gains from Brazil, Europe, the UAE and the US. Manufacturing companies also increased buying activity, while shorter supplier lead times supported a further improvement in operating conditions. Input stocks rose at the fastest pace since February, while finished goods inventories increased to an 11-and-a-half-year high. On the price front, input cost inflation picked up, driven by higher spending on electrical components, food, fuel, metals, pharmaceutical ingredients and technology resources. Factory-gate price inflation also strengthened. Looking ahead, business confidence among manufacturers improved in September.
2026-09-23
India Manufacturing Growth Revised Lower
India's HSBC Manufacturing PMI eased to 52.8 in August 2026 from 53.5 in July, revised down from the preliminary estimate of 52.9, and marking the weakest improvement in the sector's health in five years. Output and new orders continued to expand, but both grew at their slowest rates since August 2021 amid softer demand and challenging market conditions. Export orders also increased, although growth in international sales eased from July. Softer demand weighed on purchasing activity and inventories, while manufacturing employment fell for the first time in two-and-a-half years. Input buying still expanded for the 62nd consecutive month, but at its weakest pace over the period. On prices, input cost inflation eased to a six-month low, while output price inflation remained slight and rose at its slowest pace in 45 months. Business confidence improved to its highest level since May, although it remained subdued by historical standards.
2026-09-01