India's manufacturing PMI expands to 54.7 as demand picks up faster

India’s manufacturing sector witnessed faster growth in April, sequentially, due to quicker increases in production and factory orders, as well as renewed expansion in international sales. The S&P Global India Manufacturing Purchasing Managers’ Index (PMI) rose from 54 in March to 54.7 in April. This comes as relaxation in Covid restrictions continued to support demand.

The index was, however, marginally lower than 54.9 in February. The April PMI data pointed to an improvement in overall operating conditions for the 10th straight month. In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction.

“The Indian manufacturing PMI