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03/06/2026 11:54

India’s services sector growth accelerates to six-month high in May

India's services sector recorded its strongest growth in six months during May, supported by robust demand conditions, new client acquisitions, and sustained growth in business activity, according to the latest HSBC India Services PMI survey.

The seasonally adjusted HSBC India Services PMI Business Activity Index rose to 59.8 in May from 58.8 in April, marking the fastest pace of expansion since November and remaining well above the 50-point threshold that separates growth from contraction.

The strong performance was driven by healthy domestic demand, increased new business inflows, and successful client wins across the services industry. Survey participants also reported a softer rise in input cost pressures compared with previous months, providing some relief to operating margins.

The data highlights the continued resilience of India's services sector, which remains a key contributor to the country's economic growth and employment generation