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India’s manufacturing activity rose to a 10-month high of 58.2 in April compared with 58.1 in the previous month, according to results of a private sector survey released on May 2.

The HSBC India Manufacturing Purchasing Managers' Index logged a reading of over 58 for the second consecutive month in April following a ramp up of activity in March as Indian manufacturers rushed to get their product to American shores to escape tariffs.

India’s economy had a better start to the fiscal, as GST collections rose to an all-time high of Rs 2.37 lakh crore compared with Rs 1.96 lakh crore in March and Rs 2.1 lakh crore in April 2024.

The annualised growth in GST collections at 12.6 percent was at a 17-month high in April.

Daily digital transactions rose to highest level of 596.3 million in April compared with 590 million in March. Daily transactions rose 35 percent in April.

FASTag payments were also 17 percent higher in April.

India’s economy is expected to perform better than the rest of the world, with growth expected to be over 6 percent in FY26.

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