Strongest expansion since Dec: Services sector PMI rises to 53.6 in Mar

The seasonally-adjusted S&P Global India services purchasing managers' index (PMI) - released on Wednesday - showed PMI for services for March rose to 53.6 from 51.8 in the preceding month

India’s services activity in March witnessed the strongest rate of expansion since December, after a substantial slowdown in growth at the beginning of the year due to a new wave of the pandemic, a private survey said.

Business confidence, however, remained subdued due to inflationary pressures, with input costs increasing at the sharpest pace in 11 years at the end of fiscal 2021-22. 

This comes amid the Russian invasion of Ukraine. Companies mostly absorbed additional cost burdens and raised their charges only moderately.

The seasonally-adjusted S&P Global India services purchasing managers’ index (PMI) — released on Wednesday — showed PMI