India's service sector sees strong Q1 2024-25 start, with high new business growth driven by domestic and international demand.
India's service sector experienced a strong start to Q1 2024-25, with growth in new business and output remaining sharp and among the fastest in 14 years, driven by both domestic and international demand. The HSBC India Services PMI Business Activity Index dropped slightly from 61.2 in March to 60.8 in April, but total new orders continued to rise at a faster rate than exports. Input costs rose sharply, leading to squeezed margins for service firms, but overall confidence among service providers for the year-ahead outlook improved markedly.
May 06, 2024
9 Articles