Mumbai, April 23 -- India's private sector saw stronger growth at the start of the new fiscal year, with both output and new orders rising faster in April after a slowdown in March. The HSBC Flash India PMI Composite Output Index increased from 57.0 to 58.3, signalling sharp expansion and remaining well above its long-term average.
The improvement was largely driven by manufacturing, where output and new orders rebounded strongly, with both indices rising by more than three points. The HSBC Flash India Manufacturing PMI also climbed from 53.9 to 55.9. Services activity continued to grow, but at a more moderate pace compared to manufacturing.
New business expanded at a historically strong rate, supported by better demand conditions, capaci...