India's Manufacturing Growth Slows to Second-Weakest Pace Since Mid-2022 in June
India's manufacturing sector expanded in June 2026 but at its second-slowest pace since mid-2022, with the HSBC Manufacturing PMI falling to 54.2 from 55.0 in May. Growth in output, new orders, exports, and employment moderated amid softer domestic and international demand, particularly from European markets. Despite easing inflationary pressures and cost reductions, business confidence declined. The slowdown was mainly driven by the capital goods segment, while consumer and intermediate goods showed relatively stronger growth. Overall, the sector remains in expansion territory but faces cooling demand and competitive pressures.