{"id":87323,"date":"2026-02-04T00:00:00","date_gmt":"2026-02-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/mena-india\/2026\/02\/04\/indias-manufacturing-and-services-pmi-edges-up-in-january\/"},"modified":"2026-02-04T00:00:00","modified_gmt":"2026-02-04T00:00:00","slug":"indias-manufacturing-and-services-pmi-edges-up-in-january","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/mena-india\/2026\/02\/04\/indias-manufacturing-and-services-pmi-edges-up-in-january\/","title":{"rendered":"India\u2019s manufacturing and services PMI edges up in January"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">India\u2019s manufacturing + services activity picks up in January<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>India\u2019s<\/strong><strong> manufacturing activity edged up in January as demand modestly improved<\/strong>, though the recovery was insufficient to lift business sentiment or spur hiring, as per HSBC India\u2019s <a target=\"_blank\" href=\"https:\/\/www.pmi.spglobal.com\/Public\/Home\/PressRelease\/cf844f6598f24d3d97639f641b315fca\" style=\"\">Manufacturing<\/a><a target=\"_blank\" href=\"https:\/\/www.pmi.spglobal.com\/Public\/Home\/PressRelease\/cf844f6598f24d3d97639f641b315fca\" style=\"\">Purchasing Managers\u2019 Index<\/a>. The PMI rose to 55.4 from December\u2019s two-year low of 55.0 \u2014 remaining above the 50 mark that separates growth from contraction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Factory output and new orders strengthened, largely driven by domestic demand<\/strong>, while export orders improved only marginally despite shipments to Asia, Europe, and the Middle East. Hiring rose to a three-month high but stayed subdued, and business confidence slipped to a three-and-a-half-year low.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>services sector also rebounded in January, after hitting an 11-month low in December<\/strong>, rising to 58.5 from 58.0, driven by stronger demand, though hiring remained muted, as per the <a target=\"_blank\" href=\"https:\/\/www.pmi.spglobal.com\/Public\/Home\/PressRelease\/5dfe7a3f75854e28b284796826dec680\" style=\"\">index.<\/a> New business grew at its fastest pace since November, supported by better online reach and higher overseas demand from South and Southeast Asia. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> India in talks to link UPI with Alipay+ network<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>India<\/strong><strong> is in talks with Singapore-based Ant International to link global wallet network <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.alipayplus.com\/\" style=\"\">Alipay+<\/a><\/strong><strong> with India\u2019s instant payments rail<\/strong>, Unified Payments Interface (UPI), <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/india-govt-central-bank-talks-with-alipay-integrate-its-instant-payment-systems-2026-02-02\/\" style=\"\">Reuters<\/a> reports, citing two unnamed sources. The proposed link would allow Indian tourists to make payments using UPI in countries across Asia, Europe and Latin America connected to Alipay+.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alipay+? <\/strong>The platform connects about 1.8 bn user accounts and more than 150 mn merchants across over 100 markets, including the Middle East. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Regulatory backdrop: <\/strong>Any decision will be taken after security considerations, given sensitivities around digital infrastructure, data, and Alipay\u2019s China links \u2014 India has maintained tight scrutiny of Chinese-linked investment since the 2020 border standoff. The discussions fall under New Delhi\u2019s broader push to expand UPI\u2019s overseas reach for travelers and the Indian diaspora.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plus: India explores UPI-Alipay+ network to expand cross-border payments<\/p>\n","protected":false},"author":1,"featured_media":87324,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2444],"tags":[2443,2895,2402,2591,2646,2440,2662,2896],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-digital-payments","tag-enterpriseam-india","tag-fintech","tag-indian-economy","tag-manufacturing","tag-pmi","tag-upi","wpautop","entry"],"acf":{"mongo_id":"669b65fe-480e-470b-85f8-280801831a81","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/2\/315.jpg","photo_position":"above","homepage_title":"","full_issue_title":"India\u2019s manufacturing and services PMI ticks higher in January","related_issue":[87313],"teaser":"Plus: India explores UPI-Alipay+ network to expand cross-border payments"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>India\u2019s manufacturing and services PMI edges up in January - MENA India Corridor<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/02\/04\/indias-manufacturing-and-services-pmi-edges-up-in-january\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India\u2019s manufacturing and services PMI edges up in January\" \/>\n<meta property=\"og:description\" content=\"Plus: India explores UPI-Alipay+ 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