India’s manufacturing PMI rose to 59.1 in July, driven by stronger output, orders, and stock building despite weak hiring.

• New orders and output surged, with production hitting a 15-month high and stocks of purchases rising sharply.
• Job creation slowed to its weakest pace since November 2024, while business confidence fell to a 3-year low.
• Selling price inflation rose above average as input buying remained strong and finished goods inventory declined further.