The HSBC India Manufacturing PMI rose to 58 in January 2025, up from 56.4 in December and above the expected 56.7, preliminary estimates showed. This marked the fastest expansion in the Indian manufacturing sector since July last year, as output and new orders rebounded from a relatively weak third fiscal quarter. Factory orders grew at its fastest pace in six months, and the growth in export orders was particularly notable. Job creation also strengthened, and firms increased input purchases, which supported a quicker rise in pre-production inventories as supplier delivery times shortened further. However, finished goods stocks fell, marking the largest drop in nearly three years. On prices, input cost inflation retreated to a ten-month low and remained modest by historical standards. Looking ahead, business confidence improved from December, reflecting more optimistic forecasts among manufacturing companies, who are at their most confident since May 2024. source: S&P Global

Manufacturing PMI in India increased to 58 points in January from 56.40 points in December of 2024. Manufacturing PMI in India averaged 53.06 points from 2012 until 2025, reaching an all time high of 59.10 points in March of 2024 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 58 points in January from 56.40 points in December of 2024. Manufacturing PMI in India is expected to be 55.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.




Related Last Previous Unit Reference
Business Confidence 119.10 127.20 points Sep 2024
Capacity Utilization 75.80 74.00 percent Sep 2024
Changes in Inventories 491.54 477.12 INR Billion Sep 2024
Composite Leading Indicator 100.27 100.27 points Dec 2024
Corruption Index 39.00 40.00 Points Dec 2023
Corruption Rank 93.00 85.00 Dec 2023
Deposit Growth YoY 9.80 11.50 percent Jan 2025
Electricity Production 134170.22 128817.59 Gigawatt-hour Oct 2024
Industrial Production YoY 5.20 3.70 percent Nov 2024
Industrial Production Mom -1.20 2.39 percent Nov 2024
Manufacturing Production YoY 5.80 4.40 percent Nov 2024
Mining Production 1.90 0.90 percent Nov 2024
Steel Production 12400.00 12500.00 Thousand Tonnes Nov 2024
Passenger Vehicle Sales 270704.00 300459.00 Units Dec 2024

India Manufacturing PMI
The S&P Global 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 Manufacturing Growth at 6-Month High
The HSBC India Manufacturing PMI rose to 58 in January 2025, up from 56.4 in December and above the expected 56.7, preliminary estimates showed. This marked the fastest expansion in the Indian manufacturing sector since July last year, as output and new orders rebounded from a relatively weak third fiscal quarter. Factory orders grew at its fastest pace in six months, and the growth in export orders was particularly notable. Job creation also strengthened, and firms increased input purchases, which supported a quicker rise in pre-production inventories as supplier delivery times shortened further. However, finished goods stocks fell, marking the largest drop in nearly three years. On prices, input cost inflation retreated to a ten-month low and remained modest by historical standards. Looking ahead, business confidence improved from December, reflecting more optimistic forecasts among manufacturing companies, who are at their most confident since May 2024.
2025-01-24
India Manufacturing Growth Revised Downward
The HSBC India Manufacturing PMI dropped to 56.4 in December 2024, down from 56.5 in November, and revised lower from an initial estimate of 57.4. This marked the softest expansion in operating conditions since the start of the year. While growth slowed across output, new orders, and stocks of purchases, rates of expansion remained strong. This supported further increases in employment, rising for the tenth month, with job creation accelerating to its fastest pace in four months. Manufacturers’ purchases also increased, and inventory accumulation continued, though at a slower rate. On prices, input cost inflation remained moderate by historical standards, while selling prices rose more sharply than cost burdens, reaching levels stronger than the average seen in the near 20-year series history. Looking ahead, the outlook for 2025 remains optimistic, with firms expecting growth driven by advertising, investment, and strong demand.
2025-01-02
India Manufacturing Growth Strong at Year-End
The HSBC India Manufacturing PMI rose to 57.4 in December 2024, accelerating from 56.5 in November, a preliminary data showed. This reading signals a strong year-end performance in factory activity, exceeding the historical average, driven by a faster increase in new business and export orders. As a result, firms expanded staffing levels, leading to a record increase in employment. Businesses also increased input purchasing in December, and with improved vendor performance, this contributed to a further rise in pre-production inventories. However, finished goods stocks contracted as companies drew from warehouses to meet rising demand. Meanwhile, manufacturers adopted more aggressive pricing. Looking ahead, businesses were more optimistic about the year-ahead output outlook.
2024-12-16