India’s Purchasing Managers’ Index (PMI) stood at 59.3 in May, surpassing major economies like China, the US, Japan, and Italy. Despite global economic challenges, India’s PMI has maintained steady growth from January to May 2026, reflecting strong domestic demand and a favorable business environment.
Nirmal K. Minda, President of Assocham, attributed India’s consistent PMI performance to factors like rising income levels and a growing middle class. Since the West Asia conflict in February 2026, India’s PMI has shown a positive trend, increasing to 59.3 in May from 58.9 in February.
The PMI, ranging from 0 to 100, serves as a key indicator of a country’s economic well-being. While other top economies experienced a decline in their PMI from February to May 2026, India’s growth remained robust, with exports growing by 13.59% in April. The World Bank projects India’s growth at 6.6% for 2026-27, outperforming the global growth forecast of 2.5% for 2026.
