FX.co ★ India’s Services Momentum Edges Higher as HSBC PMI Rises to 55.8 in October

India’s services sector showed a modest acceleration in October, with the HSBC India Services Purchasing Managers’ Index (PMI) inching up to 55.8, compared with 55.2 previously. The latest reading, covering October 2026, signals a stronger pace of expansion in one of the country’s key growth engines.

A PMI level above 50 indicates expansion in business activity, and October’s improvement suggests that service providers in India continued to see rising output and demand, albeit at a measured pace. The slight uptick from the prior 55.2 reading, also recorded in October 2026, points to a sustained positive trend in the sector rather than a sharp shift in momentum.

The updated data, released on 4 November 2026, will be closely watched by investors and policymakers as services remain central to India’s economic performance. The latest PMI figure reinforces the view that the country’s services economy is on a stable, expansionary path going into the latter part of the year.