The Economic Times

MSME manufacturing sector expands in Jan-March period but growth moderates amid West Asia crisis: PHDCCI survey

India's MSME manufacturing sector continued to grow in early 2026. However, expansion slowed due to global issues, especially the West Asia crisis. This crisis caused longer shipping times and higher costs. Business activity saw new orders and production increase, but hiring remained steady. The outlook for the next quarter is positive but cautious. Policy support is vital for sustained growth.