New Delhi, April 2 -- After falling to a 14-month low of 56.3 in February, the seasonally adjusted HSBC India Manufacturing PMI rebounded to 58.1 in March, marking its highest level in eight months. A reading above 50 signals expansion. The surge was driven by the PMI's largest sub-component-the New Orders Index-as total sales in March expanded at their fastest pace since July 2024. Companies cited strong customer interest, favourable demand conditions, and effective marketing initiatives, according to the PMI survey report.

Firms are expected to have ramped up production to meet year-end targets, which likely boosted volumes. However, celebrations may be premature especially given the looming uncertainty about the potential implementati...