Private sector growth slows in March, manufacturing sustains

India's private sector showed signs of softening in March, with overall business activity expanding at a slower pace than in February, according to an HSBC flash survey.

- Rhik Kundu

India's private sector showed signs of softening in March, with overall business activity expanding at a slower pace than in February, according to an HSBC flash survey. While services lost momentum, manufacturing remained a bright spot, sustaining strong growth despite mounting pricing pressures.

The HSBC Flash India Composite Output Index, which tracks manufacturing and services activity, dipped to 58.6 in March from 58.8 in February. A reading above 50 signals growth, while a value below that threshold implies contraction. The index has held above this level for more than three years.