India, May 6 -- India's services sector witnessed a modest improvement in growth during April, largely supported by a faster rise in new order inflows, which also contributed to increased hiring activity, according to a monthly survey released on Tuesday.
The seasonally adjusted HSBC India Services PMI Business Activity Index rose to 58.7 in April from 58.5 in March, signaling a robust and sharper expansion in the sector. The latest reading remains comfortably above the long-term average of 54.2. In PMI terms, a score above 50 indicates expansion, while a figure below 50 denotes contraction.
"India's service activity rose more swiftly than last month. New export orders, after a temporary slowdown in March, picked up sharply—growing ...