The HSBC India Services PMI inched up to 58.9 in May 2026 from 58.8 in April, preliminary data showed. The latest reading marked the strongest growth since last November, as output continued to expand while new orders rose at a softer pace. Meanwhile, employment increased at the fastest rate in nearly a year, with job creation remaining solid. On prices, both input and output inflation eased. Looking ahead, business sentiment remained positive amid hopes of improved conditions. source: S&P Global

Services PMI in India increased to 58.90 points in May from 58.80 points in April of 2026. Services PMI in India averaged 53.03 points from 2012 until 2026, reaching an all time high of 62.90 points in August of 2025 and a record low of 5.40 points in April of 2020. This page provides the latest reported value for - India Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Services PMI in India increased to 58.90 points in May from 58.80 points in April of 2026. Services PMI in India is expected to be 57.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the India Services PMI is projected to trend around 58.00 points in 2027 and 54.00 points in 2028, according to our econometric models.



Related Last Previous Unit Reference
Business Confidence 118.80 126.30 points Mar 2026
Capacity Utilization 75.60 74.30 percent Mar 2026
Car Production 2922427.00 2978173.00 Units Apr 2026
Car Sales 437312.00 442460.00 Units Apr 2026
Changes in Inventories 836.46 808.97 INR Billion Sep 2025
Composite Leading Indicator 102.24 102.04 points Apr 2026
Corruption Index 39.00 38.00 Points Dec 2025
Corruption Rank 91.00 96.00 Dec 2025
Deposit Growth YoY 12.30 12.20 percent Apr 2026
Electricity Production 134739.80 119706.27 Gigawatt-hour Mar 2026
Industrial Production YoY 4.10 5.10 percent Mar 2026
Industrial Production Mom 9.10 -6.50 percent Mar 2026
Manufacturing Production YoY 4.30 5.90 percent Mar 2026
Mining Production 5.50 3.10 percent Mar 2026
Steel Production 13800.00 15300.00 Thousand Tonnes Apr 2026
Passenger Vehicle Sales 378312.00 376268.00 Units Apr 2026


India Services PMI
The HSBC India Services PMI (Purchasing Managers' Index) is based on data compiled from monthly replies to questionnaires sent to purchasing executives in around 350 private service sector companies. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
India Services Growth Hits 6-Month High
The HSBC India Services PMI inched up to 58.9 in May 2026 from 58.8 in April, preliminary data showed. The latest reading marked the strongest growth since last November, as output continued to expand while new orders rose at a softer pace. Meanwhile, employment increased at the fastest rate in nearly a year, with job creation remaining solid. On prices, both input and output inflation eased. Looking ahead, business sentiment remained positive amid hopes of improved conditions.
2026-05-21
India Services Growth Revised Higher to 5-Month High
The HSBC India Services PMI was revised higher to 58.8 in April 2026 from the preliminary estimate of 57.9, following March’s 13-month low of 57.5. The latest reading marked the strongest growth since last November, supported by a faster rise in new orders and output. However, foreign demand growth eased to the weakest pace in five months, due to the Middle East war and subdued inbound tourism. Employment increased, enabling firms to reduce backlogs of work for the first time in four months, though only marginally. On prices, both input and output inflation eased, although input price inflation remained among the highest in around a year and a half. Meanwhile, output prices rose moderately, marking the weakest increase in three months. Looking ahead, business sentiment weakened amid concerns over the Middle East conflict and cost pressures.
2026-05-06
India Services Sector Growth Accelerates
The HSBC India Services PMI increased to 57.9 in April 2026 from March’s 13-month low of 57.5, signaling continued solid expansion in the services sector, preliminary estimates showed. Output and new orders continued to rise, albeit marginally. However, foreign demand growth eased to the weakest uptick in just over a year, due to the Middle East war. Employment increased, with job creation rising at a faster pace. On prices, both input and output inflation slowed. Looking ahead, business sentiment weakened amid concerns over the Middle East conflict.
2026-04-23