Robust Demand Fuels Indian Services Sector Growth

In a remarkable show of resilience and growth, the Indian services sector reached an 11-month high in July, buoyed by robust demand both domestically and internationally. The HSBC India Services PMI business activity index stood at 60.5, marginally up from 60.4 in June, signaling a sustained expansion phase.

Global Orders Drive Expansion

Strong global orders, particularly from the US, have played a pivotal role in this uptick. This surge in activity underscores the sector's growing contribution to India's economic recovery and its increasing appeal on the global stage.

Business Confidence on the Rise

Alongside the uptick in activity, business confidence has also strengthened, reflecting optimism about future growth prospects. The survey, encompassing responses from 400 service sector companies, highlights a positive outlook for the months ahead.

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