HSBC/S&P Global announced that India's manufacturing purchasing managers' index (PMI) for July, seasonally adjusted, rose from 58.3 to 58.5. The output index of the manufacturing PMI increased from 61.9 to 62.2.

The initial value of the service PMI in the same month increased from the previous value of 60.5 to 61.1. The initial value of India's comprehensive PMI in July increased from the previous value of 60.9 to 61.4, reaching a three-month high, and far exceeding the long-term average.

During the period, the new business and output growth of India's private economy accelerated. Backlogged work further increased, and employment growth reached the highest level in more than 18 years. The rising costs of raw materials and labor exacerbated inflationary pressures, and output fees inflation accelerated to the highest level since February 2013.