India's Services Sector Growth Slows to Five-Month Low in October Amid Competitive Pressures and Heavy Rains

November 07, 2025

India's services sector experienced its slowest expansion in five months in October 2025, with the HSBC India Services Purchasing Managers' Index (PMI) falling to 58.9 from 60.9 in September. This moderation was primarily attributed to intense competitive pressures and adverse weather conditions, including heavy rains in various parts of the country. Despite the slowdown, the sector continued to expand, remaining comfortably above the neutral 50-point mark, and businesses expressed strong confidence for future growth.