📊Executive Summary

India's business activity showed a slight moderation in August, with manufacturing activity easing due to a slowdown in new orders and production. The HSBC Flash PMI indicated that while the services sector remains strong, manufacturing output growth has softened, with the Manufacturing PMI dropping to 57.9. Despite this, new orders in the manufacturing sector continued to rise, driven by strong demand and favorable market conditions. However, manufacturers reported a surge in output price inflation, reaching an 11-year high, which suggests potential cost pressures for procurement teams. The Indian government is focusing on expanding the manufacturing sector, particularly in semiconductors and electronics, which could impact sourcing strategies in the near future....