2026.04.0605:00:00UTC+00India’s HSBC Composite PMI Edges Higher in March, Signaling Firmer Private-Sector Momentum

India’s private sector activity strengthened modestly in March, as the HSBC Manufacturing & Services PMI rose to 57.00 from 56.50 on a month-over-month basis, according to data updated on 06 April 2026. The composite reading, which combines manufacturing and services performance, remains comfortably above the 50-point threshold that separates expansion from contraction.

The latest print suggests that both factory output and services activity continued to expand at a solid pace, with March showing a slight acceleration compared with the previous month. The improvement from 56.50 to 57.00 highlights sustained demand and resilient business conditions across the economy during the period.

On a month-over-month comparison, the “actual” March reading reflects a stronger expansion than the previous month’s movement, underlining a gradual firming in growth momentum. While the increase is incremental, the continued rise in the PMI underscores ongoing confidence in India’s private sector as the first quarter of 2026 draws to a close.