The FICCI Manufacturing Survey for Q4 of 2025-26 indicates a robust positive sentiment in India's manufacturing sector, with 93% of respondents reporting either higher or stable production levels compared to the previous quarter. This reflects an increase from 91% in Q3. Domestic demand is also strong, with 89% of manufacturers expecting higher or the same number of orders. In terms of exports, 80% of respondents anticipate stable or increased export levels, up from 74% in the previous quarter. However, the survey noted a slight dip in capacity utilization, currently at 72%, and a significant 70% of manufacturers reported increased production costs. Despite these challenges, 41% of manufacturers plan to hire more staff in the upcoming three months, indicating confidence in future growth. The average interest rate for manufacturers stands at 8.85%, with over 86% reporting sufficient access to funding for their operational needs.