India services activity ticks up in January, PMI shows

India’s services sector showed signs of renewed momentum in January 2026, according to the latest HSBC-S&P Global Services PMI, which rose to 58.5, indicating continued expansion. This uptick reversed a slight slowdown seen in the previous month.

Growth was attributed to increased new business inflows, stronger marketing efforts and heightened international demand, particularly from South and Southeast Asian markets. However, employment levels remained just above stagnant, showing that job creation is still a key challenge.

The broader economic momentum was further supported by export optimism following recent trade agreements with both the EU and the USA, which are expected to bolster services exports in the coming quarters