Summary:

India’s Services PMI rose to 58.7 in April 2025 from 58.5 in March, indicating solid sector growth. The Composite PMI also increased to 59.7. Output expanded due to strong new business intakes, particularly in banking and insurance. Export orders grew at their fastest pace since July 2024. Firms benefited from lower input costs, although future optimism dipped slightly, according to Pranjul Bhandari, Chief India Economist at HSBC.

India’s services industry experienced robust foreign demand, with notable growth from Asia, Europe, West Asia, and the United States. Export orders accelerated at their quickest rate since July 2024. The Composite PMI climbed to 59.7 in April. Manufacturing reached a 10-month high of 58.2. The Index of Industrial Production (IIP) rose 3% in March. The RBI’s Monetary Policy Committee (MPC) cut the repo rate by 25 basis points to 6%, signaling the possibility of further easing.

Source: IBEF 

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