India Manufacturing PMI October 2025: India’s manufacturing sector activity strengthened in October on the back of reduction in Goods and Services Tax (GST) rates, increase in productivity and technology investment. This information came to light in a monthly survey report on Monday.
The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) rose to 59.2 in October from 57.7 in September. Due to which the situation in the area is indicating rapid improvement. In the language of Purchasing Managers Index (PMI), a number above 50 indicates expansion while a number below 50 indicates contraction.
HSBC economist Pranjul Bhandari
HSBC’s Chief India Economist Pranjul Bhandari said that India’s manufacturing PMI increased to 59.2 in October from 57.7 last month. Strong final demand boosted growth in production, new orders and job creation. On the price front, despite a modest and slow increase in the cost of raw materials, the inflation rate remained almost at a 12-year high in September. Giving further information, Bhandari said that the prices of raw materials softened in October, while the average selling prices increased. Because some manufacturers passed the burden of additional costs on to the end consumers.
Meanwhile, job creation continued for the 20th consecutive month in October. The rate of expansion remained moderate and remained roughly the same as in September. According to Bhandari, looking towards the future, the future business sentiment is strong due to positive expectations regarding GST reform and good demand. The HSBC India Manufacturing PMI has been prepared by S&P Global on the basis of responses to questionnaires sent to purchasing managers in a group of about 400 companies.
Manufacturers have intensified raw material purchasing in October. This will help in increasing production and also strengthen the reserves. Purchasing levels have increased at the fastest pace since May 2023, which shows that the manufacturer is fully confident about future demand.
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