India’s Services PMI Rises to 55.8 in October as Input Cost Inflation Eases to Six-Year Low
- IBEF
- November 5, 2026
India's services sector activity expanded at its fastest pace in four months in October, with the HSBC India Services Purchasing Managers' Index (PMI) rising to 55.8 from 55.2 in September, according to data released by S&P Global. The seasonally adjusted Business Activity Index remained above the 50-point threshold, indicating continued expansion in the sector. Growth was supported by stronger demand conditions, new client acquisitions and successful advertising, with new business recording its fastest increase since June. All four broad service categories covered by the survey registered faster growth in output and new business, with finance and insurance leading the expansion.
Input cost inflation eased to its lowest level in more than six years, with input prices rising at their slowest pace since August 2020. The rate of increase in prices charged to customers also moderated to its weakest level since June. However, growth in new export orders slowed to its weakest pace since February 2023, while employment growth moderated to its slowest pace since June. The broader private sector also recorded stronger activity, with the HSBC India Composite PMI Output Index increasing to 56.2 in October from 55.9 in September, marking a four-month high. Despite improved business activity, service providers remained cautiously optimistic about the outlook over the next 12 months.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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