Booster shot from GST cuts! Manufacturing activity jumps; October PMI rises to 59.2
India's manufacturing sector showed robust expansion in October, with the HSBC India Manufacturing PMI rising to 59.2, driven by strong domestic demand and increased technology investments. While export orders slowed, overall factory activity improved, supported by higher output and purchasing. Manufacturers anticipate continued production growth, fueled by optimism regarding demand resilience and GST benefits.
India's manufacturing sector showed robust expansion in October, with the HSBC India Manufacturing PMI rising to 59.2, driven by strong domestic demand and increased technology investments. While export orders slowed, overall factory activity improved, supported by higher output and purchasing. Manufacturers anticipate continued production growth, fueled by optimism regarding demand resilience and GST benefits.
