The HSBC India Manufacturing PMI stood at 58.4 in June 2025, matching flash data and marking the highest print since April 2024. Output and buying activity rose the most in 14 months, while new orders grew at their quickest rate in almost a year, boosted by strong marketing efforts and a sharp rise in exports. Foreign demand gained solid momentum, with its growth reaching the third-highest rate since data collection began in March 2005, driven in part by robust orders from the U.S. Employment rose at a record pace, reflecting strong business confidence. On the cost front, input price inflation eased to a four-month low despite higher iron and steel prices. However, selling prices rose markedly, as many firms passed on additional costs to customers. Meanwhile, average lead times shortened at the fastest pace in five months. Looking ahead, business optimism remained upbeat, though tempered by concerns over rising competition, inflation, and shifting consumer preferences.