Summary:

April 2026 saw a significant increase in private sector activity in India, with the Purchasing Managers' Index (PMI) showing higher growth in both the manufacturing and services sectors. The composite PMI increased from 57.0 in March to 58.3 in April, staying far over the 50-point threshold that distinguishes expansion from contraction. The primary driver of growth was a recovery in manufacturing, which was bolstered by increased new orders and stronger domestic demand. Services also saw steady growth. Despite worldwide uncertainty, the steady increase in activity is indicative of robust economic momentum. As businesses increased recruiting to meet demand, employment circumstances significantly improved, with job creation reaching a 10-month high. But as businesses continued to pass costs on to customers, input cost pressures remained high and inflationary patterns continued.

Source: IBEF

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