India’s Composite PMI hit a record 65.2 in August 2025, the highest ever recorded. But what does PMI really mean — and what does it cover? In this episode of The Deep Dive, we unpack the Purchasing Managers’ Index as a measure of growth, why history shows record highs often precede slowdowns, and what this means for investors today.

We’ll also clear up the confusion around PMI in housing — Private Mortgage Insurance — and explain why both PMIs, though different, share the same lesson: risk and resilience.

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