India's services sector expands at fastest pace so far this year in March

India's services sector expanded at its fastest pace so far this year in March as an easing of Covid-19 restrictions boosted demand, but elevated inflationary pressures clouded business confidence, a private survey showed.

The S&P Global India Services Purchasing Managers' Index rose to 53.6 in March from 51.8 in February, beating the 52.5 estimate in a Reuters poll.

While the index remained above the 50-mark separating growth from contraction for an eighth straight month, input costs rose at the sharpest pace in 11 years.

"The war in Ukraine exacerbated lingering issues in supply chains, triggering a reacceleration in inflation across the Indian service