FX.co ★ India’s HSBC Composite PMI Edges Higher in October, Signalling Firmer Private-Sector Momentum

India’s private sector activity strengthened modestly in October, with the HSBC Manufacturing & Services PMI rising month-over-month to 56.20 from 55.90, according to the latest data updated on 4 November 2026.

The improvement, measured on a month-over-month comparison, indicates that overall business conditions in both manufacturing and services expanded at a slightly faster pace than in the previous month. A reading above 50 points to expansion, suggesting India’s combined industrial and services output continued to grow into October 2026, with momentum firming relative to the prior month’s performance.

Both the “actual” and “previous” figures reflect changes versus the immediately preceding month, underscoring a consistent upward trajectory in private-sector activity through October. While the increase from 55.90 to 56.20 is modest, it reinforces the picture of a resilient and steadily expanding Indian economy as the final quarter of 2026 begins.