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Apr 02, 2024 - 13:17
By asia.nikkei.com

India manufacturing PMI surges to 16-year high ahead of elections

BENGALURU -- India's manufacturing activity surged to a 16-year high in March, underpinning the labor market and boding well for Prime Minister Narendra Modi ahead of general elections expected from later this month.

The HSBC India Manufacturing Purchasing Managers' Index (PMI) rose to 59.1 in March from 56.9 in February, as manufacturers bought more inventory and increased production to meet higher domestic and international demand, including from the U.S. and Europe.