India’s manufacturing PMI eased to 54.7 in October as export orders hit a six-month high and cost pressures cooled; read key trends. India's manufacturing PMI slowed to 54.7 in October 2026. Strong exports offset weaker domestic demand, while companies absorb costs, impacting profit margins. India's manufacturing activity remained firmly in expansionary territory in Oct, supported by strong export demand, even as output growth moderated and selling price inflation neared a four-year.