Rising from a final reading of 59.5 in March to 60.0 in April, the HSBC Flash India Composite Output Index highlighted the fastest rate of expansion since August 2024.
There were quicker increases across both the manufacturing and service sectors, with the former seeing the sharper upturn.
At 58.4 in April, up from 58.1 in March, the HSBC Flash India Manufacturing PMI indicated the strongest improvement in the health of the sector for one year.
The upward movement in the PMI reflected higher readings for four of its five subcomponents, the sole exception being delivery times which is inverted before entering the calculation.
Private sector companies in India welcomed a sharp rise in total new business intakes at the start of the 2025/26 fiscal year, which was boosted by buoyant international demand for goods and services. Collectively, new export orders increased at the fastest pace since the series started in September 2014 as survey participants noted gains from across the globe.
The HSBC ‘flash’ PMI data also showed quicker expansions in aggregate output and employment. Cost pressures were equal to those seen in March, whereas selling charges rose at a faster rate.
Companies operating in India's private sector suggested that output levels had been raised in response to efficiency gains, positive demand trends and successful advertising.
Aggregate sales increased at a sharp pace that was the fastest since August 2024. In response to an intensification of capacity pressures, companies remained in hiring mode.
As a result of ongoing increases in cost burdens, private sector firms continued to lift their selling prices. Trends for business sentiment were mixed, as an improvement among goods producers contrasted with fading optimism at services firms.
Finally, manufacturing-only data showed that companies scaled up input purchases in a bid to rebuild stocks and safeguard against shortages.