India tops global rankings in factory and services growth
What's the story
India has become a global leader in both manufacturing and services activity, JP Morgan's Purchasing Managers' Index (PMI) data showed.
For April 2025, India's manufacturing PMI was a stellar 58.2 and its services PMI was even higher at 58.7, the report said.
The figures are the highest across both developed and emerging markets globally.
Economic indicator
PMI: A key indicator of economic health
The PMI is a key indicator of economic health in the manufacturing and services sectors.
A PMI above 50 indicates expansion, while a figure below 50 indicates contraction.
The strong numbers from India show that the country's economy continues to expand at a steady pace, far outpacing other large economies.
China comparison
India's PMI surpasses China's in both sectors
Compared to other major economies, India's PMI numbers are much higher.
For example, China's manufacturing PMI tracked by both Markit and the National Bureau of Statistics (NBS) stood at 50.4 and 49, respectively, in April.
India outperformed China in the services sector as well, with China's Markit Services PMI at 50.7 and the official NBS figure at 50.1 for the same month.
Global trends
Mixed signals from other major economies
Other major economies like the US, Eurozone, UK, and Japan are sending mixed signals.
The US manufacturing PMI by ISM was 48.7 and the services PMI was 51.6 in April.
The Euro area continues to struggle with a manufacturing PMI of 49 and services at 50.1 for the same month.
France and the UK reported some of the weakest figures, with manufacturing PMIs at 48.7 and 45.4, and services at 47.3 and 49.