Growth of Indian services exports hits series peak in March

Growth Indicators - The HSBC India Services Business Activity Index rose from 60.6 in February to 61.2 in March, indicating one of the strongest growth rates in over 13-and-a-half years[2] - New export business increased at the fastest rate since the series began in September 2014, with significant gains reported from various regions including Africa, Asia, and Europe[2] - The Composite PMI Output Index increased from 60.6 in February to 61.8 in March, marking the second-strongest upturn in over 13-and-a-half years[27] Employment and Capacity - Employment in the services sector rose at the joint-fastest rate since November 2022, driven by increased demand and capacity pressures[2] - The increase in pending workloads was reported for the twenty-seventh consecutive month, reaching the highest level since early 2023[14] Price Pressures - Input costs rose at a marked rate, faster than in February, contributing to intensified price pressures across the sector[2] - Selling price inflation reached its highest level since July 2017, primarily due to the acceleration in the service economy[14]