India's manufacturing activity slips to near five-year low in July but signals solid growth
India's manufacturing activity, as measured by the HSBC Manufacturing Purchasing Managers’ Index (PMI), fell to 53.5 in July from 54.2 in June, marking the lowest level since August 2021. Despite this decline, the index remains above the 50-mark, indicating growth. Looking ahead, manufacturers face uncertainties due to renewed tensions in West Asia, impacting future expansion prospects.