India’s manufacturing growth gained momentum in October

India’s manufacturing growth gained momentum in October supported by strong demand for the Indian goods. The HSBC India Manufacturing Purchasing Managers’ Index (PMI), rose from September’s eight-month low of 56.5 to 57.5 in October, indicating a substantial improvement in operating conditions.    

The index, compiled by S&P Global, highlighted that output growth accelerated last month, fueled by faster



increase in total new orders and international sales. The export orders rebounded in October from a 18-month low in September. The survey reflected that exporters reported stronger gains from markets across Asia, Europe, Latin America, and the US. According to the survey, this uptick in the demand also helped in job creation by manufacturing firms, with nearly one in ten companies reporting new job addition.