According to the fresh HSBC report, India’s services Purchasing Managers’ Index climbed to 58, marking continued vigor in the sector. This reading above the neutral 50 level confirms accelerating growth in service-based activities.
Business volumes expanded briskly, supported by a sharp rise in new client wins and repeat business. Hiring accelerated notably, with firms optimistic about sustained demand. Supply chain efficiencies improved, aiding timely deliveries despite cost pressures.
The data paints a bright picture for India’s services powerhouse, which employs millions and drives exports. Commentators highlight this as a testament to effective policy measures and entrepreneurial spirit. Rising confidence indices suggest prolonged expansion ahead.
For economists tracking India economy news, this PMI update is a bullish signal amid moderating inflation and steady growth forecasts. The sector’s performance positions India favorably in global markets.