The HSBC India Services PMI was revised slightly higher to 53.3 in July 2026 from the preliminary estimate of 53.1 but remained well below June's final reading of 57.4. Still, the latest reading signaled the weakest expansion in business activity since early 2022, as output and new order growth slowed amid softer demand, competitive pressures, and fewer new enquiries. New business inflows rose at the weakest pace since February 2022. However, new export orders remained a bright spot, accelerating on stronger demand from the UAE, UK, and US. Employment improved modestly, with service providers adding to payrolls at a faster pace after job creation slowed to a six-month low in June. On the price front, input cost inflation eased to its lowest since January, though selling charges rose at the fastest pace since April, pushing output price inflation higher. Lastly, business confidence weakened to a seven-month low despite expectations of improved demand and market conditions. source: S&P Global
Services PMI in India decreased to 53.30 points in July from 57.40 points in June of 2026. Services PMI in India averaged 53.06 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 decreased to 53.30 points in July from 57.40 points in June of 2026. Services PMI in India is expected to be 59.00 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 58.40 points in 2027 and 56.00 points in 2028, according to our econometric models.