New Delhi, April 2 -- India's manufacturing PMI eased to 53.9 in March from 56.9 in February, according to the HSBC India Manufacturing PMI report released on Thursday.

This deceleration indicated the weakest improvement in overall business conditions in nearly four years, with the headline figure slipping below its long-run average of 54.2. As per the report, the sector faced a significant cooling effect as several domestic and global headwinds converged to dampen the momentum seen in previous months.

The report noted that a combination of factors, including fierce competition and heightened market uncertainty, weighed heavily on the industry. Geopolitical tensions, specifically the ongoing war in the Middle East, were cited as a prima...