India's Services PMI Declines Marginally in March to 58.5 vs 59.0 in February

India's services sector continued to grow strongly in March 2025, although at a slightly slower pace than in February.

- CORRESPONDENT

According to the HSBC India Services Purchasing Managers' Index (PMI), the index stood at 58.5 in March, down from 59.0 in February. Despite the slight decline, the index remained well above its long-run average of 54.2, showing that the sector is still expanding at a healthy rate.

It said, "Registering 58.5 in March, the seasonally adjusted HSBC India Services PMI® Business Activity Index - based on a single question asking how the level of business activity compares with the situation the month before - was comfortably above the neutral mark of 50.0 and indicated a sharp rate of expansion. Although below February's reading of 59.0, the headline index remained above its long-run average (54.2)."