India's services sector growth hits 6-month high in May on new orders, softer rise in cost burdens
India's services sector experienced its strongest growth in six months during May, with the HSBC India Services PMI reaching 59.8. The expansion was driven by robust demand and new business intakes.
Why it matters
The data indicates a strong economic recovery and healthy business activity in India's critical services sector.
India s services sector growth touched a six-month high of 59.8 in May, boosted by healthy demand conditions, new client wins, and ongoing improvements in new business intakes, a monthly survey said on Wednesday (June 3, 2026). The seasonally adjusted Hong Kong and Shanghai Banking Corporation (HSBC) India Services Purchasing Managers’ Index (PMI) Business Activity Index rose to 59.8 in May, from 58.8 in April, signalling the strongest rate of expansion since last November. The HSBC India Services PMI Business Activity Index is based on a single question asking how the level of business activity compares with the situation the month before.
The article is a straightforward report on economic indicators based on survey data.
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