India’s manufacturing sector showed a strong recovery in September 2026, with the HSBC India Manufacturing PMI rising to 55.1, its highest level in seven months, up from 52.8 in August. This 2.3-point increase highlights a significant improvement in manufacturing activity, with the PMI staying well above the 50-point mark that separates expansion from contraction.
The September data signals stronger business conditions and renewed momentum in the sector. However, despite this sharp monthly improvement, manufacturing activity during the second quarter remained the weakest since the COVID-19-impacted Q2 of 2021-22, underscoring the contrast between the subdued quarterly performance and September’s rebound.
