India's Manufacturing PMI Hits Four-Month High in February Amid Strong Domestic Demand

India's manufacturing sector expanded at its fastest pace in four months in February, with the HSBC India Manufacturing PMI rising to 56.9 from 55.4 in January, driven by strong domestic demand that boosted new orders and production. However, growth in new export orders slowed to its weakest level in 17 months, partly due to ongoing global tariff uncertainties despite recent reductions. Employment increased modestly, and input cost inflation remained moderate, supporting a resilient economic outlook for the current quarter and fiscal year.