India’s services growth hits five-month high as firms turn to domestic suppliers

New Delhi: India’s services sector growth accelerated to a five-month high in April, driven by faster increases in new orders and output.

The seasonally adjusted HSBC India Services PMI Business Activity Index rose to 58.8 in April from 57.5 in March, marking the strongest expansion since November. A reading above 50 indicates growth.

Firms surveyed pointed to a shift from international to domestic suppliers amid the ongoing West Asia crisis, helping sustain demand. New business inflows and output both expanded at quicker rates.

The data signals continued resilience in the services economy despite global uncertainty, with companies reporting stronger client demand and improved activity across sectors.