India's Manufacturing PMI Rises to Four-Month High in February on 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 primarily by strong domestic demand. New orders and production increased, supported by efficiency gains and technology investments. However, export growth slowed to its weakest rate in 17 months amid ongoing global trade uncertainties and US tariff concerns. Employment rose modestly, while cost pressures remained moderate. The sector's strength contributes to an expected 7.6% GDP growth for the fiscal year ending March 2026.