Summary:

India's manufacturing sector reached a 10-month high in April 2025, with the HSBC PMI rising to 58.2. Strong export demand from Africa, Asia, Europe, West Asia, and the Americas fueled growth, alongside increased production and inventory buildup. Approximately 9% of manufacturers expanded their workforce. The rise in activity, particularly in consumer goods, suggests a potential shift in global supply chains toward India.

India's Index of Industrial Production (IIP) rose by 3% in March, supported by stronger energy generation and a modest manufacturing recovery, though mining remained weak. IIP growth for FY25 slowed to 4%, the lowest in four years. To support growth, the RBI reduced the repo rate to 6% in April—its second cut this year—and maintained an "accommodative" stance, signaling cautious optimism about India’s industrial and economic outlook.

Source: IBEF

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