The latest HSBC PMI data reveals India’s services sector thriving at an index of 58, reflecting solid monthly growth. This key economic indicator points to accelerated expansion in business activity across the nation.
Services companies experienced marked upticks in new orders, particularly from abroad, fueling output growth. Employment surged at the quickest rate since mid-2023, signaling confidence in future prospects. While input prices rose, output charges increased at a milder pace, supporting margins.
The report emphasizes the sector’s vitality, contributing significantly to India’s GDP. Robust domestic demand complemented export gains, with future expectations remaining optimistic. Analysts view this as evidence of economic resilience against global headwinds.
As India pushes for service-led development, the PMI’s strength reinforces its position as a global services hub. Stakeholders anticipate continued positive trends, bolstering overall economic outlook.