Poor global demand and tighter domestic and global financial conditions are seen as key dampeners to India’s export demand.
The business momentum in India’s manufacturing sector is cooling off. The seasonally adjusted S&P Global Purchasing Managers’ Index (PMI) fell to 55.1 in September from 56.2 in August. A reading above 50 indicates expansion. The New Orders Index fell from a nine-month high of 60.5 in August to 58.6 in September, weighing on the headline index.