India’s manufacturing sector gained renewed strength in April, with the HSBC India Manufacturing Purchasing Managers’ Index (PMI) rising slightly to 58.2 from 58.1 in March — the highest level in ten months. The uptick reflects a strong boost in production and resilient global demand. According to HSBC Chief India Economist Pranjul Bhandari, the sharp rise in new export orders suggests that global supply chains may be shifting toward India in response to evolving trade dynamics and recent US tariff moves. She noted that output growth surged to a ten-month high, supported by strong order books. Although input costs rose modestly, manufacturers saw a significant increase in output prices — the fastest since October 2013 — which could help offset any margin pressures.
