New Delhi, March 3 -- To meet the National Statistical Office's (NSO) ambitious goal of 6.5% growth in India's FY25 gross domestic product (GDP), the economy needs to pick up a significant pace in the March quarter (Q4FY25). But the crucial manufacturing sector is losing impetus, shows the latest Purchasing Managers' Index (PMI) data-a private survey.

The seasonally adjusted HSBC India Manufacturing PMI slipped to a 14-month low of 56.3 in February from 57.7 in January. The fall was driven by softer new orders and production growth. A reading above 50 indicates expansion.

While the headline PMI stays in the expansion zone, it is hardly a comfort as cost pressures still linger. Indian manufacturers faced another rise in input costs, with...