New Delhi, Sept. 3 -- India's services sector registered its fastest pace of growth in more than 14 years as the HSBC India Services PMI Business Activity Index jumped to 62.9 in August from 60.5 in July, according to the HSBC PMI survey report.

This was the steepest rate of expansion since June 2010, reflecting a strong surge in demand and business activity.

HSBC report stated, "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 up from 60.5 in July to 62.9 in August. This indicated the steepest rate of expansion since June 2010".

The sharp rise in the index shows that the Indian services economy benefited from a subs...