India's manufacturing remains strong at the start of the year

Following a moderation in growth during December, Indian goods producers kicked off 2025 on a robust note. With new orders rising at the quickest pace since last July, fuelled by the steepest upturn in exports in nearly 14 years, there was a stronger expansion in output. January data also showed a pick-up in growth of buying levels and record job creation.

Cost pressures retreated to their weakest in 11 months, but selling prices rose solidly amid buoyant demand.

Meanwhile, business confidence strengthened. Rising from December's one-year low of 56.4 to 57.7 in January, the seasonally adjusted HSBC India Manufacturing Purchasing Managers Index (PMI) signaled a robust improvement in the health of the sector.

The rate of expansion was the quickest since last July and outpaced its long-run average.

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