Export Orders from Multiple Countries Boost India's Service PMI to 54.1

Delhi – HSBC India’s Services PMI recorded a reading of 54.1 for August, propelled largely by a surge in export orders from a broad set of overseas markets. Firms cited fresh contracts from Australia, Brazil, Canada, Japan, Malaysia, Singapore, Sri Lanka and the United Arab Emirates as a key source of growth.

The survey, fielded among more than three hundred service providers, also revealed that domestic demand remained healthy, reinforcing the overall momentum. As a result, the index rose from 53.3 in July, underscoring both internal and external drivers of activity.

On the employment front, about 11 % of the companies surveyed reported hiring new staff, pushing job creation to a fifteen‑month high. The increase was most pronounced in areas such as customer service, sales and digital operations, where firms are seeking to improve service quality and efficiency.

Price pressures were modest, and the composite PMI output index stayed flat at 54.3, reflecting the offsetting effect of robust service‑sector performance against a softer manufacturing outlook.