India’s services sector growth touches three-month high in September on strong domestic demand: PMI
India's services sector experienced a three-month high in growth during September, driven by strong domestic demand for digital and financial services. While business activity expanded, the report noted a slight slowdown in the pace of export growth.
Why it matters
The PMI data serves as a key economic indicator for India's domestic market health and its integration into the global services economy.
India's services sector growth touched a three-month high in September, as new orders increased sharply, supported by strengthening domestic demand, a monthly report said on Tuesday (October 6, 2026).
The seasonally adjusted HSBC India Services PMI Business Activity Index rose to 55.2 in September, from 54.1 in August, signalling the strongest upturn since June.
The upturn in services sector activity, however, failed to lift the quarterly average above that seen in the previous period. "In fact, growth over the second fiscal quarter was the weakest since the three months to March 2022," the report said.
In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
S&P Global compiles the HSBC India Services PMI from responses to questionnaires sent to a panel of around 400 service sector companies.
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