Export orders boost but growth slows as India's services PMI reaches 55.2

The HSBC India Services PMI for September climbed to 55.2, the strongest reading in three months, driven by a surge in both domestic consumption and foreign orders. Companies reported heightened demand for digital services, food and beverages, insurance, lending, software, transport and travel. While export business expanded, the pace of new export orders decelerated compared with earlier months. Nevertheless, a healthier order book and pipeline of projects helped service firms continue hiring, albeit at a slightly slower rate than August. Input‑price pressures receded, with inflation in input costs hitting its lowest point since November 2025, reducing the need for price increases.