India’s Services Sector Growth Strengthens In March

India’s services industry showed stronger-than-expected growth in March, according to the HSBC/S&P Global Purchasing Managers’ Index (PMI). The final reading of 57.5 indicates solid expansion, surpassing the preliminary flash estimate of 57.2.

Resilient Demand And Activity

The higher PMI reflects sustained demand across consumer and business services, with firms reporting increased new orders and improved output. The services sector continues to play a pivotal role in supporting India’s overall economic growth trajectory.

Business Confidence And Outlook

Companies remain optimistic about future activity, citing strong domestic demand and improving global conditions. The PMI above 50 signals expansion, reinforcing confidence in the sector’s ability to maintain momentum despite global uncertainties.

Key Highlights

• India’s March Services PMI at 57.5
• Flash estimate was 57.2, showing upward revision
• Strong demand and new orders drive growth
• Sector remains a key contributor to GDP
• Business outlook remains positive amid global challenges

Sources: HSBC, S&P Global Market Intelligence