+
India's manufacturing PMI hits 16-year high
ECONOMY & POLICY

India's manufacturing PMI hits 16-year high

India's manufacturing Purchasing Managers' Index (PMI) has surged to a remarkable 16-year high, marking a significant upturn in the country's industrial sector. According to recent data released by IHS Markit, the PMI for manufacturing climbed to 58.6 in March, the highest level since April 2005. This surge is indicative of robust growth in output and new orders, reaching their peak since October 2020.

The resurgence in manufacturing activity can be attributed to several factors. Firstly, there has been a notable increase in domestic demand, fueled by various government initiatives and a gradual recovery from the economic slowdown induced by the COVID-19 pandemic. Additionally, improved sentiment among businesses and consumers has bolstered investments and consumption, further propelling manufacturing growth.

The expansionary trend is evident across various sub-sectors, with output levels registering a substantial rise. Moreover, new orders have surged, indicating a growing appetite for Indian manufactured goods both domestically and internationally. Export orders have notably strengthened, reflecting the competitiveness of Indian products in global markets.

Employment in the manufacturing sector has also shown signs of improvement, with businesses expanding their workforce to meet the rising demand. However, challenges persist, including supply chain disruptions and input cost pressures, which have the potential to dampen the pace of growth if left unaddressed.

Looking ahead, sustaining this momentum will be crucial for India's economic recovery and resilience. Continued policy support, coupled with efforts to address structural bottlenecks and enhance competitiveness, will be imperative to capitalize on the current upswing in manufacturing activity and ensure its long-term sustainability.

India's manufacturing Purchasing Managers' Index (PMI) has surged to a remarkable 16-year high, marking a significant upturn in the country's industrial sector. According to recent data released by IHS Markit, the PMI for manufacturing climbed to 58.6 in March, the highest level since April 2005. This surge is indicative of robust growth in output and new orders, reaching their peak since October 2020. The resurgence in manufacturing activity can be attributed to several factors. Firstly, there has been a notable increase in domestic demand, fueled by various government initiatives and a gradual recovery from the economic slowdown induced by the COVID-19 pandemic. Additionally, improved sentiment among businesses and consumers has bolstered investments and consumption, further propelling manufacturing growth. The expansionary trend is evident across various sub-sectors, with output levels registering a substantial rise. Moreover, new orders have surged, indicating a growing appetite for Indian manufactured goods both domestically and internationally. Export orders have notably strengthened, reflecting the competitiveness of Indian products in global markets. Employment in the manufacturing sector has also shown signs of improvement, with businesses expanding their workforce to meet the rising demand. However, challenges persist, including supply chain disruptions and input cost pressures, which have the potential to dampen the pace of growth if left unaddressed. Looking ahead, sustaining this momentum will be crucial for India's economic recovery and resilience. Continued policy support, coupled with efforts to address structural bottlenecks and enhance competitiveness, will be imperative to capitalize on the current upswing in manufacturing activity and ensure its long-term sustainability.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code