New Delhi, May 4 -- India's manufacturing PMI rose to 54.7 in April, up from 53.9 in March, but still marking the second-slowest improvement in operating conditions in nearly four years. According to HSBC India Manufacturing PMI, while new business intakes and production saw mild recoveries, the rates of increase remained among the weakest since 2022.

The report noted that advertising and demand resilience supported sales and production, yet growth faced hurdles from competitive conditions, the West Asia war, and a reluctance among clients to approve pending quotes.

"The two largest sub-components of the PMI, new orders and output, rose since March but trailed readings seen in at least three-and-a-half years," the report noted.

Interna...