India's private sector activity in March slowed to its lowest level since October 2022, according to the HSBC flash Purchasing Managers' Index compiled by S&P Global. This was due to weaker domestic demand for goods and services offset the highest rise in international orders. The PMI's flash India Composite Purchasing Manager' Index (PMI) slowed to 56.5 in March from 58.9 in February and was below the Reuters poll median of 59.0. The Middle East war, unstable market conditions, and inflationary pressures also dampened growth. India's factory activity slowed to 53.8 from 56.9, below the poll expectation of 56.8. The country's fastest-growing economy was at 57.2, below analyst forecast of 58.3. The U.S.-Israel war with Iran has negatively impacted India's economy.