India's manufacturing activity hits 10-month high amid surge in exports | cliQ Latest

India’s economy showed strong growth in April, with manufacturing activity reaching its highest level in 10 months. The country’s manufacturing Purchasing Managers’ Index (PMI) rose to 58.2, driven by robust export growth and rising GST collections. This positive momentum at the start of the fiscal year signals a strong economic outlook, with daily digital transactions and GST revenue hitting record highs.

According to the latest data from a private sector survey, the HSBC India Manufacturing PMI increased slightly from 58.1 in March to 58.2 in April. The rise indicates that Indian manufacturers are ramping up production to meet global demand, especially from the United States, in response to tariff adjustments. This surge in manufacturing activity highlights India’s growing position in the global supply chain and its increasing competitiveness.

India’s economy is showing resilience, as evidenced by the impressive GST collections for April. The government recorded a historic high of Rs 2.37 lakh crore, surpassing both March’s Rs 1.96 lakh crore and last year’s Rs 2.1 lakh crore. The 12.6 percent year-on-year growth in GST collections marked the highest increase in 17 months, underscoring the strength of India’s economy at the start of the new fiscal year.

In addition to the growth in GST revenue, India also witnessed an uptick in digital transactions. The number of daily transactions reached a new peak of 596.3 million in April, reflecting a significant 35 percent rise from March. Payments through FASTag, which facilitates toll payments, also saw a 17 percent increase, further demonstrating the growing reliance on digital platforms across the country.

Looking ahead, India’s economic performance remains strong, with expectations of over 6 percent growth in FY26. This makes India one of the fastest-growing major economies in the world, positioning it as a leader in global economic recovery. The country’s ability to sustain high levels of manufacturing activity, combined with a thriving digital economy, signals a bright future for India’s economic prospects.

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