Mumbai, March 2 -- India's manufacturing sector strengthened in February, driven mainly by strong domestic demand. New orders rose sharply, helping production grow at its fastest pace in four months. The HSBC India Manufacturing PMI increased to 56.9 from 55.4 in January, signaling solid improvement in overall business conditions.
Local demand remained the key growth driver, supported by marketing efforts and higher client requirements. Export orders continued to grow but at the slowest rate in 17 months, with gains mainly coming from Asia, Europe, the Middle East and the US.
To keep up with rising workloads, manufacturers increased purchases of raw materials, expanded inventories and hired more workers. Buying activity grew at a three-mo...