FX.co ★ India’s Services Momentum Strengthens as HSBC PMI Climbs to 55.8 in September

India’s services sector gained traction in September 2026, with the HSBC India Services Purchasing Managers’ Index (PMI) rising to 55.8 from 54.1 in August. The latest reading, updated on 23 September 2026, points to a quicker expansion in business activity across the country’s dominant services industry.

The move from 54.1 to 55.8 signals a solid improvement in operating conditions, as PMI readings above 50 indicate expansion. The acceleration suggests stronger demand and firmer output growth compared with the previous month, reinforcing the services sector’s role as a key driver of India’s broader economic performance.

The September uptick will be closely watched by investors and policymakers, as sustained strength in services can support employment, income growth, and overall economic resilience in the face of shifting global conditions.