India's manufacturing sector reached a 10-month high in April as the seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) rose marginally to 58.2 from 58.1 in March, according to data released by S&P Global on Friday.
The headline figure growth was driven by faster increases in stocks of purchases, employment, and production, the report showed. Total sales were supported by the second fastest upturn in international orders since March 2011.
The output rose sharply, the quickest since June 2024, with a sharp rise in new business.
"The notable increase in new export orders in April may indicate a potential shift in production to India, as businesses adapt to the evolving trade landscape and US tariff announcements," said Pranjul Bhandari, Chief India Economist at HSBC.
"Input prices increased slightly faster, but the impact on margins could be more than offset by the much-faster rise in output prices, of which the index jumped to the highest level since October 2013," Bhandari added.
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