India’s factory activity picked up pace in October, with the HSBC Manufacturing Purchasing Managers’ Index (PMI) rising to 59.2, up from 57.7 in September, data released on November 3 shows.

The improvement reflects a boost from festive-season demand and the government’s GST rate rationalisation.

.This is the fifth time that the index has remained above the 58-mark in the past seven months, signalling continued resilience in the manufacturing sector despite rising geopolitical uncertainty. A PMI reading above 50 indicates expansion in activity.

Strong start to Q3

The October uptick suggests that the industrial sector began the third quarter of FY26 on a solid footing, even as the central bank expect overall growth to moderate from the highs of the first half.

India’s economy grew 7.8

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