India's manufacturing PMI eases to 53.5 lowest since August 2021
Business
India's manufacturing sector slowed down in July 2026, with growth dropping to its lowest point since August 2021.
The HSBC India Manufacturing PMI fell to 53.5 from June's 54.2, still showing expansion, but at a much gentler pace than usual.
India manufacturing orders and hiring slow
Local demand took a hit, so new orders and hiring both slowed noticeably.
Companies pointed to tough market conditions and less interest from buyers as reasons for cutting back on purchases and jobs.
On the brighter side, export orders picked up thanks to stronger demand from places like Canada, Egypt, and the United Arab Emirates.
Supply chains improved too, making it easier for manufacturers to rebuild inventories while input costs eased off a bit.