Meanwhile, outlook for global emerging markets remained relatively weak in September.
Ride-hailing firms claim penetration is still low and there is a huge upside to grow the market and make owning a car pass.
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Although the survey pointed to the softness in demand leveling off, a complete recovery is still some way off.
On the employment front, services employment was unchanged in April.
A reading below 50 means contraction in the sector.
Sluggish rise in new business inflows and a cautious approach to costs reportedly led Indian manufacturers to shed jobs in September.
n New York market, the dollar posted second-quarter losses against nearly all major rivals yesterday, with the exception of the euro.
The breadth, indicating strength of the market was strong
A reading below 50 means contraction in the sector.
In New York market, the dollar was little changed against major rivals yesterday as investors continued to comb through economic data and speeches from central bank officials to get a better sense of when the Federal Reserve could begin to raise interest rates.
The Nikkei India Manufacturing PMI dipped from 50.3 in November to 49.1 in December.
The models from Hyundai and Maruti, which might go on sale in October 2018 and February 2019, respectively, are set to revive a segment that had lost sheen to the compact SUV segment, lately
HSBC PMI falls to 50.7, slow domestic demand offsets pick up from abroad.
A reading above 50 means the sector is expanding, while a reading below 50 means contraction.
Strong new business growth was the primary factor.
The HSBC Emerging Markets Index, a monthly indicator derived from Purchasing Managers' Index surveys, inched up to 50.6 in May from 50.4 in April, indicating weak output growth across global emerging markets.
The move is prompted by the disruption in the car usage pattern caused by the app-based ride-hailing companies such Ola and Uber
The official survey focuses more on larger firms.
Banking stocks felt the heat due to worries that the lending rate cuts will hit their bottom line
The HSBC Emerging Markets Index, a monthly indicator derived from the PMI surveys, inched up to 50.4 in April, from 50.3 in March, signalling only a marginal increase in output across global emerging markets in April.
Inflation in India probably edged up in October as food prices climbed while weak demand is expected to have hurt factory output growth.
Manufacturing of consumer goods, like food and liquor continued to improve in September.
China posted the sharpest increase in output for 15 months, while India saw the steepest expansion since February 2013.
The index has posted below the 50 mark, which marks contraction, for the third consecutive month.
The index went below the crucial 50 mark.
It is the rupee's biggest single-day gain this year.
The HSBC/Markit purchasing managers index for the manufacturing industry stood at 50.1 in July, slightly more than 50.3 in June, indicating a broad stagnation of manufacturing operating conditions in India.
India's growth presents a win-win partnership for the country and the US, and American companies have a great opportunity to contribute to that, Modi told the CEOs.
India's manufacturing sector activity remained broadly flat in June as new orders declined for the first time in over four years and power cuts and fragile economic conditions weighed on the sector's performance, an HSBC survey said.
Economic recovery in US, euro zone help; new orders sub-index at 52.4
According to bankers and economists, there is room for further rate cut by the RBI as retail and wholesale inflation rates have remained benign.
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The rupee was last at 62.05/06 after gaining to as high 61.9650 against the dollar, its highest since Nov 19. It had closed at 62.44/45 on Friday.
The BSE Mid-cap index gained 1.1% while the Small-cap index surged 1.3%, outperforming the benchmark indices
India's private sector activity contracted further in August, reflecting faster contractions of both manufacturing and services output, amid decline in new orders and tough economic conditions.
The BSE Mid-Cap index was currently down 1.25%
Pakistan outclassed South Africa by 19 runs via the Duckworth-Lewis method in a rain-hit match in the ICC Champions Trophy match, in Birmingham, on Wednesday.
8 out of 12 sectoral indices closed in red with BSE IT and Healthcare indices losing 0.5%.
The No. 4 slot is considered the most vital position for any successful ODI side, yet India are struggling to find a solution to their revolving door conundrum for some time now.
Manish Pandey and Yusuf Pathan hit half-centuries as Kolkata Knight Riders edged past Delhi Daredevils by four wickets, in the Indian Premier League, in Delhi, on Monday.
Chinese shares opened lower, with the Shanghai Composite Index down 1.8% and the CSI300 index down 2.2%.
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