New Delhi, April 4, 2025: India’s services sector growth eased slightly in March, with the HSBC Services Purchasing Managers’ Index (PMI) slipping to 58.5 from 60.2 in February. Despite the marginal decline, the reading remains well above the 50-mark, indicating continued expansion in the sector. Strong demand and new business inflows supported activity, though inflationary pressures and global uncertainties led to a slight moderation.
Private sector activity remained robust, with manufacturing and services continuing to drive economic momentum. Firms reported sustained job creation and business confidence, signaling resilience in India’s economic outlook. Analysts expect steady growth ahead, with inflation and external factors being key risks to watch.
