FX.co ★ India’s Services Activity Accelerates in August as HSBC PMI Rises to 54.5

India’s services sector gained momentum in August 2026, with the HSBC India Services Purchasing Managers’ Index (PMI) climbing to 54.5 from 53.3 in July 2026. The latest reading, updated on 21 August 2026, signals a stronger expansion in business activity across the country’s key services industries.

The move higher from July’s level suggests improving demand conditions and a firmer pace of growth in services, a critical component of India’s overall economic output. With the PMI remaining comfortably above the 50-point threshold that separates expansion from contraction, August’s data points to sustained resilience in the sector.

Market participants and analysts will be watching upcoming readings to assess whether the August uptick marks the start of a more robust upward trend in services activity or reflects a short-term improvement following July’s softer 53.3 print.