India’s Manufacturing PMI Rises to 59.2 in October on Festive Demand Boost

India’s factory activity accelerated in October, with the HSBC Manufacturing PMI climbing to 59.2 from 57.7 in September, driven by festive demand

and GST rate cuts. The strong start to Q3 indicates continued manufacturing resilience, even as growth is expected to moderate, with global agencies upgrading India’s FY26 outlook to around 6.5%.