Mumbai, Aug. 21 -- The HSBC Flash India Composite Output Index rose by over four points in August to 65.2, from 61.1 in July, signaling a rapid expansion in private sector business activity that was the quickest on record.

The rapid upturn in business activity was driven by a surge in sales volumes, with total new order intakes rising at one of the quickest rates on record. Hiring picked up, with jobs growth accelerating, while firms also registered their most optimistic assessment of the year-ahead outlook since March.

The latest survey data also revealed a strong degree of pricing power among companies as the rate of output charge inflation jumped to a 12-and-a-half-year high.

Sub-sector data revealed broad-based strength across Indi...