In February, India's private sector grew at the fastest rate in six months, driven by a notable upswing in the services segment. This momentum enabled companies to pass rising input costs on to their customers. The HSBC Flash India Composite PMI, compiled by S&P Global, increased to 60.6 from 57.7 in January—marking the most substantial expansion since August 2023. The services index climbed to 61.1, its highest reading since March 2023, while the manufacturing index, though slightly lower at 57.1, still reflected solid growth. Despite challenges such as potential US tariffs and a decelerating global trade environment, record job creation underscores resilient domestic demand. However, economists caution that these external risks might temper the growth outlook, with forecasts suggesting that the current fiscal year's expansion may slow to a four-year low.Data
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