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India’s business growth slows to six-month low amid weak manufacturing
India’s November PMI dips; manufacturing weakens, services moderate and rate-cut hopes rise.
India’s private sector growth in November 2025 slowed to its weakest pace in six months, with the composite PMI dropping to 59.9 from October’s 60.4. Manufacturing activity fell sharply to 57.4, a nine-month low, as new orders waned and global competition intensified.
Services held up somewhat at 59.5. Export orders rose at the slowest rate since March, while inflation pressures eased significantly, raising expectations of a possible interest-rate cut by the Reserve Bank of India soon.