Rising from December's one-year low of 56.4 to 57.7 in January, the HSBC India Manufacturing Purchasing Managers' Index signaled a robust improvement in the health of the sector. The rate of expansion was the quickest since last July and outpaced its long-run average, stated the press release, published on Monday.
New orders saw a rise, attributed to better domestic demand and a pick-up in international sales. Total new business, too, expanded at the fastest rate in six months. The rate of expansion in new export orders was the best seen in just under 14 years.
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Subsequently, manufacturers in India continued to scale up production volumes. The latest increase was substantial and the fastest since October 2024.
Companies turned more optimistic about output prospects, with nearly 32% of firms forecasting growth and just 1% expecting a reduction. According to panel members, buoyant underlying demand, better customer relations, favourable economic conditions and marketing efforts all bode well for growth prospects.
Robust sales gains and upbeat forecasts prompted companies to recruit additional workers at the start of the fourth quarter. The extent to which employment expanded was the greatest seen in nearly 20 years of data collection.
Input costs increased in January, amid reports of greater outlays on freight, labour and materials. Prices charged for Indian goods rose at the slowest pace in four months during January.
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