India’s HSBC Manufacturing PMI rose to 55.1 in September 2026 from 52.8 in August, although the final reading was revised down from the preliminary 55.7. The increase marked the strongest improvement in the sector’s health in seven months. New orders grew at their fastest pace in seven months, while output reached a four-month high, supported by stronger demand for electronic, food, pharmaceutical and textile products. New export orders also accelerated, with demand from Brazil, Europe, the UAE and the US strengthening. The recovery in demand supported a solid increase in factory employment, with job growth reaching its fastest pace since May. Purchasing activity and inventories expanded more quickly, and business confidence climbed to a four-month high. Price pressures intensified as input-cost inflation accelerated because of higher prices for electronic components, pharmaceutical items and steel. Selling-price inflation also quickened but remained modest.