India's manufacturing PMI drops to 53.9, lowest since September 2021
Business
India's manufacturing sector just hit a bit of a speed bump: the March 2026 PMI dropped to 53.9, the lowest since September 2021 and down from February's high of 56.9.
This dip signals things are cooling off after a strong start to the year, but the sector is still growing overall.
Strait of Hormuz blockade pressures manufacturers
Why the slowdown? Ongoing conflict in Iran and a blockade at the Strait of Hormuz, a key route for India's oil, have made things tougher for manufacturers.
Even so, with the PMI above 50, factories are still expanding (just not as quickly).
The past year showed steady resilience despite all these global curveballs.