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India Manufacturing PMI

India's Manufacturing PMI rose to 58.4 in October 2025 from 57.7 in September 2025, a 1.2% increase. This rise was driven by strong demand for Indian manufactured goods, fueled by robust growth in new orders and international sales. GST rate cuts also supported domestic demand and reduced cost pressures. Production volumes increased, especially in consumer and investment goods. India's record low Manufacturing PMI was 54.9 in December 2023 and record high was 59.3 in August 2025.

Monthly Historical Data (2022-2025)

(in points)
Month Manufacturing PMI (points)
Oct 2025 58.4
Sep 2025 57.7
Aug 2025 59.3
Jul 2025 59.1
Jun 2025 58.4
May 2025 57.6
Apr 2025 58.2
Mar 2025 58.1
Feb 2025 56.3
Jan 2025 57.7
Dec 2024 56.4
Nov 2024 56.5
Oct 2024 57.5
Sep 2024 56.5
Aug 2024 57.5
Jul 2024 58.1
Jun 2024 58.3
May 2024 57.5
Apr 2024 58.8
Mar 2024 59.1
Feb 2024 56.9
Jan 2024 56.5
Dec 2023 54.9
Nov 2023 56
Oct 2023 55.5
Sep 2023 57.5
Aug 2023 58.6
Jul 2023 57.7
Jun 2023 57.8
May 2023 58.7
Apr 2023 57.2
Mar 2023 56.4
Feb 2023 55.3
Jan 2023 55.4
Dec 2022 57.8
Nov 2022 55.7
Oct 2022 55.3
Sep 2022 55.1
Aug 2022 56.2

Recent Events

datetime event actual previous consensus
2025-10-24 01:00 AM HSBC Manufacturing PMI Flash (Oct) 58.4 57.7 -
2025-10-01 01:00 AM HSBC Manufacturing PMI Final (Sep) 57.7 59.3 58.5
2025-09-23 01:00 AM HSBC Manufacturing PMI Flash (Sep) 58.5 59.3 -
2025-09-01 01:00 AM HSBC Manufacturing PMI Final (Aug) 59.3 59.1 59.7
2025-08-21 01:00 AM HSBC Manufacturing PMI Flash (Aug) 59.8 59.1 59.1

Next Release Date :

India Manufacturing PMI : Definition
The India Manufacturing Purchasing Managers Index PMI is an indicator of economic health for Indias manufacturing sector. It is calculated by S&P Global using survey data from purchasing managers across roughly 400 firms. The index is a composite average of five key sub-components New Orders Output Employment Suppliers Delivery Times and Stocks of Purchases. A PMI reading above 50 signifies expansion in manufacturing activity while a reading below 50 indicates contraction.