India’s manufacturing PMI averaged 57.4 in Q1 2025—well above Asian peers—driven by domestic demand and reforms. But with fresh US tariffs hitting key exports, the big question is whether this strength is built to last.
India’s manufacturing PMI averaged 57.4 in Q1 2025—well above Asian peers—driven by domestic demand and reforms. But with fresh US tariffs hitting key exports, the big question is whether this strength is built to last.