India’s services sector maintained solid momentum in December 2025, with the HSBC/S&P Global Services PMI holding firm at 58.0. Robust demand, new business inflows, and a rise in export orders supported expansion. Service providers continued hiring, reflecting positive business confidence and sustained growth across key industries despite global economic headwinds.
India’s services economy ended 2025 on a strong note, with the HSBC/S&P Global final Services Purchasing Managers’ Index (PMI) steady at 58.0 in December, unchanged from November. A reading above 50 signals growth, indicating continued expansion and resilience in the country’s largest employment-generating sector.
The data highlights sustained domestic and international demand, with businesses reporting increased new orders, particularly from overseas clients. Companies also noted improvements in business activity and employment levels, while optimism about future output remained high.
Key Highlights:
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Services PMI: 58.0 in December, sustaining November’s growth pace.
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New business growth: Strong inflows from both domestic and export markets.
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Employment: Firms continue expanding staff amid strengthening demand outlook.
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Cost pressures: Input cost inflation remained moderate, allowing stable pricing.
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Business sentiment: Confidence stays robust despite global uncertainties.
Source: HSBC/S&P Global India Services PMI report