India: Private Sector Growth Strengthens.

The HSBC India Composite PMI rose to 58.3 in April 2026 from a final 57.0 in the pevious month, which had marked the lowest level since late 2022, amid disruptions linked to the Middle East conflict. Flash estimates signaled a strong pace of private-sector expansion, staying well above its long-run average. Growth was driven by faster manufacturing output, while services activity continued to expand robustly. New orders accelerated at a historically strong pace. Employment rose the most in ten months, with hiring picking up across both manufacturing and services firms. However, growth in new export business softened. On prices, input cost inflation was the second-steepest in nearly three years, driven by higher fuel, gas, oil, and raw material costs. Output price inflation remained elevated but was well below the pace of input cost increases. Finally, business confidence eased from March’s level but remained the second-highest in almost 1,5 years.