HSBC India Services PMI rose to 58.8 in April, marking the strongest expansion since November 2025 and a five-month high.
Domestic demand fueled growth with new orders accelerating, while export orders weakened to second-lowest in over a year due to Middle East conflict.
Input cost inflation moderated but remained elevated, while output price inflation eased to a three-month low as firms absorbed costs.
Services firms increased hiring activity across all four monitored sectors, reducing backlogs for the first time in four months.