The MSME Business Confidence Index (M-BCI), which measures current business conditions, moderated to 59.3 in April-June 2026 from 59.8 in the previous quarter. SIDBI's quarterly survey is based on responses from around 1,200 MSMEs across manufacturing, trading and services. Manufacturing business confidence declined to 59.5 from 60.1 in the previous quarter, while trading slipped to 56.5 from 57.2. Services confidence also edged lower to 60.4 from 60.8. The MSME Business Expectations Index (M-BEI) stood at 60.1 for July-September 2026 and 61.2 for April-June 2027.