New Delhi, April 4 -- Business activity in India's services sector ended FY24 on a buoyant note. The seasonally adjusted HSBC India Services Business Activity Index rose to 61.2 in March from 60.6 in February.

The latest number pointed to one of the strongest growth rates the Indian services sector has seen in over 13 and a half years, said the PMI report.

A reading above 50 indicates expansion.

Robust domestic demand and favourable economic conditions boosted new business for services. Plus, new export business rose at the fastest rate since September 2014. Among the four broad areas of the service economy monitored by the survey, finance & insurance was an outperformer with quicker increases in output and sales. Strong demand pushed ...