Markit Composite PMI is a monthly summary report concerning the changes in the working conditions of private companies in India's manufacturing and service sectors. It is calculated based on monthly surveys of purchasing managers working in private companies. The index provides operational information covering business activity in the entire Indian private sector.
PMI is one of the most popular indexes, which is closely watched by analysts. It is interpreted as a leading indicator of production and inflation. PMI growth is an indication of favorable market conditions and can be seen as positive for Indian rupee quotes.