Services sector makes marginal gains in April

INDIA'S SERVICE SECTOR began with a strong start to the new fiscal year, with the sector accelerating slightly in April, largely driven by a quicker increase in new order inflows, according to a survey by HSBC Holdings.

- FE BUREAU

The seasonally adjusted HSBC India Services PMI Business Activity Index — based on a single question asking how the level of business activity compares with the situation the month before — reached 58.7 in April, up from 58.5 this March.

The headline figure was above its long-run average of 54.2.

"India's services activity rose at a faster pace than last month. New export orders gained momentum after taking a breather in March, accelerating at its fastest pace since July 2024," said Pranjul Bhandari, Chief India Economist at HSBC.