India's Manufacturing PMI Surges to 10-Month High Amid Strong Export Demand

India's manufacturing sector experienced its fastest growth in 10 months in April, driven by robust export demand and increased output, according to the HSBC India Manufacturing PMI. The PMI rose to 58.2, signaling strong sector health, with consumer goods makers seeing the sharpest gains. Export orders surged at one of the highest rates in over 14 years, indicating a potential shift in production to India as companies adapt to global trade changes. Manufacturers responded to strong demand by raising selling prices at the steepest pace in over a decade, outpacing moderate increases in input costs. Hiring also accelerated, with both permanent and temporary contracts being offered to meet rising output requirements. Business confidence remained high, underpinned by expectations of continued demand and growth in the year ahead.