FX.co ★ India Services Growth Remains Robust

The HSBC India Services PMI experienced a decline in March 2025, falling to 57.7 from February's 59.0, according to preliminary data. This marks the 44th consecutive month of expansion in the services sector. The slowdown is attributed to a more moderate rise in services activity, while manufacturing output accelerated at its quickest rate since July 2024. Employment figures showed continued growth. In terms of pricing, input costs rose further despite a reduction in inflation, leading to a slowdown in output price inflation to its lowest point since February 2024, amidst competitive market conditions. Business sentiment remained positive, albeit with a slight dip compared to the previous month.