The HSBC India Composite PMI stood at 61.0 in June 2025, matching the flash estimate and marking the highest level since April 2024. The reading was up from 59.3 in May, reflecting strong momentum across the economy as services activity expanded at the fastest pace in ten months and manufacturing output grew at the quickest rate in 14 months. Total new business rose sharply, posting the fastest increase since August 2024, supported by a record expansion in overseas sales. However, employment growth softened, driven by a slowdown among service providers, though the overall rate of expansion remained historically strong. On the inflation front, input cost pressures eased to their weakest level since August 2024, while output prices rose at the slowest pace in three months. For both indicators, the slowdown was broad-based across the manufacturing and services sectors.