India's Private Sector Gains Momentum in September: PMI
India's HSBC Flash Composite PMI rose to 56.5 in September from 54.3 in August, driven by stronger manufacturing and faster new order growth.
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“India's Private Sector Gains Momentum in September: PMI”
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23 Sep 2026
Key Highlights:
- HSBC Flash India Composite PMI Output Index rose to 56.5 in September, up from a final reading of 54.3 in August.
- Manufacturing led the latest upturn, with new orders rising at a quicker pace and prompting solid job growth.
- Stocks of finished goods hit an 11-and-a-half-year high, while output price inflation gathered pace, signalling firms protecting margins.
- Goods producers reported strengthening demand for aluminium products, electronics, food and pharmaceutical goods.
- Employment rose solidly across both manufacturing and services sectors, with broadly similar rates of expansion.
A Sharper Expansion in Business Conditions
India's private sector economy saw a firmer improvement in business conditions in the month of September, the HSBC Flash PMI data showed on Wednesday.
A Notable Rise in the Composite Index
With the HSBC Flash India Composite PMI Output Index at 56.5, up from a final reading of 54.3 in August, output growth ticked higher at both manufacturing and services companies, with goods producers leading the latest upturn. Aggregate new orders also rose at a quicker pace, prompting a solid expansion in jobs, according to the PMI data.
Easing Inflation and Rising Confidence
Meanwhile, inflationary pressures faded and business confidence strengthened, a combination that suggests firms are entering the final quarter of the year with a more optimistic outlook than in recent months.
