India’s manufacturing sector achieved its highest level in 16 years in March, reaching a PMI of 59.1, signaling robust growth. This surge, the highest since 2008, was driven by increased production, sales, and input stocks, reflecting strong demand and capacity tightening. HSBC’s report highlighted the sector’s continuous expansion for 33 months, attributing growth to enhanced new orders, output, and job creation. Notably, capital goods saw significant improvements in input buying and stockpiling, while job creation, though mild, marked its best performance since September 2023.