<h1>Robust Growth in India's Manufacturing Sector as PMI Hits 58.1 in March, Driven by Strong Factory Orders and Production</h1> India's manufacturing sector growth reached an eight-month high in March, with the HSBC India Manufacturing PMI rising to 58.1 from February's 56.3. This substantial improvement was driven by stronger factory orders and production amid favorable demand conditions. The New Orders Index expanded significantly, reaching its highest level since July 2024. Companies increased production volumes sharply at the fiscal year-end. While international orders continued to grow strongly, their pace slowed to a three-month low. Strong demand caused businesses to use their inventories, resulting in the fastest decline in finished goods stocks since January 2022. Approximately 30% of survey participants expect greater output in the coming year.