HSBC India Composite PMI jumped to a record high of 65.2 in August 2025 from 61.1 in the prior month, flash data showed. The acceleration reflects robust expansion across both manufacturing and services, with the latter spearheading the gains as business activity surged to a new survey peak. Total new orders rose near a record pace, supported by the fastest foreign sales growth since the composite index began in 2014. Firms cited greater demand from Asia, the Middle East, Europe, and the US. Overall employment also picked up, as faster job creation in services offset softer hiring among manufacturers. Still, backlogs of work rose only marginally, the slowest since May. On inflation, input costs climbed amid higher wages and raw material prices, prompting companies to raise output charges at the steepest rate since February 2013, often citing strong demand as justification. Looking ahead, business confidence strengthened to its highest since March on expectations of sustained demand.