In April, India's private sector activity gained momentum, as indicated by the HSBC Flash India Composite Purchasing Managers Index (PMI), which rose to 58.3, up from 57 in March. The increase was largely driven by the manufacturing sector, which recorded a PMI of 55.9, reflecting faster growth in output and new orders. The services sector also contributed, though its PMI edged slightly up to 57.9 from 57.5. Despite these positive trends, businesses reported ongoing cost pressures, primarily due to rising prices for fuel, gas, and raw materials. Companies are responding by building buffer stocks to mitigate supply-side uncertainties. Employment growth surged, reaching a ten-month high, as firms expanded their workforce in anticipation of increased demand. Overall, while business confidence eased slightly, it remains robust, with firms optimistic about future output driven by marketing efforts and project approvals.