India’s manufacturing activity rebounded in March, closing FY25 at an eight-month high of 58.1, up from a 14-month low of 56.3 in February, according to private sector data released on April 2.
The HSBC India Manufacturing PMI recorded its eighth consecutive month above 57, driven by strong domestic orders.
Auto sales data released earlier indicated rising consumer demand. Mahindra & Mahindra saw an 18% year-on-year sales increase in March, while Escorts Kubota’s tractor sales rose 15%. Two-wheeler sales, a key rural demand indicator, also grew in double digits across most manufacturers.
GST collections hit an 11-month high of ₹1.96 lakh crore, and UPI transactions neared ₹25 lakh crore by the fiscal year’s end.
However, coal production fell 3.1% for the year.
The government projects overall economic growth at 6.5% for FY25, though manufacturing is expected to slow to 4.3%, down from 12.3% in the previous fiscal.
