India's manufacturing sector growth fell to a 12-month low in December 2024, as new business orders and production expanded at softer rates. The HSBC India Manufacturing Purchasing Managers' Index (PMI) was at 56.4 in December, down from 56.5 in November. The annual average for the index in 2024 was over 57.5, as against an average of 56.8 in 2023.