India's private sector activity saw a modest recovery in August, driven by improved services growth and quicker new orders, despite factory expansion hitting a five-year low.
India's PMI rose to 54.6, services at 54.5, but manufacturing fell to 52.9—lowest since Aug 2021—with first staffing cut in 2.5 years. Service hiring jumped to 15-month high; firms raised prices fastest since April despite cost relief, squeezing tech margins amid IT outsourcing surge.
The index remained above the neutral mark
Aug 21, 2026
11:30 am
What's the storyIndia's private sector activity saw a slight recovery in August, according to the latest data from S&P Global.
The HSBC Flash India Composite Purchasing Managers' Index (PMI) rose to 54.6 in August, up from July's 52-month low of 54.3.
August marked a subtle rise in India's private sector activity, propelled by a rebound in services growth that countered the…
India's Composite PMI rose to 54.6 in August, indicating modest expansion in private sector activity after July's 52-month low.
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