Business EconomyPosted at: May 6 2026 1:41PM


Services activity expands rapidly in April, PMI rises to 58.8

New Delhi, May 6 (UNI) The services sector in India has expanded at a rapid pace in the first five months of the fiscal year, supported by stronger domestic demand, higher e-commerce activity, and improved new order inflows, according to the HSBC India Services PMI.
The seasonally adjusted index rose to 58.8 in April, after touching a 14-month low of 57.5 in March.
The spike in the HSBC India Composite PMI Output Index signaled a faster expansion in private sector output, as both manufacturing and services activity regained momentum.
The survey highlighted that the growth was driven by stronger domestic demand, new orders, competitive pricing, and increased ecommerce activity, even as export growth weakened and cost pressures remained elevated due to the West Asia war.

Services firms reported a sharp increase in operating expenses in April. Although input cost inflation eased from March, it remained among the highest levels recorded since November 2024.
Higher prices for food items, including cooking oil, eggs, gas shortages, meat and vegetables along with increases in gas and labour costs, drove overall expenses, the report added.
Services firms remained optimistic about future activity, overall business confidence weakened compared with March, it added.
Employment rose across all four broad areas of the services economy tracked by the survey. Stronger growth in new business supported an increase in hiring at the start of the first fiscal quarter.
The private sector manufacturing activity growth recovered in April as HSBC’s India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, which measures monthly change in manufacturing output, rose to 54.7 in April, up from 53.9 in March.

The growth was riding on the back of sharper export growth, after plummeting to a four-year low in March due to West Asia-linked disruption.

A weighted average of new orders, output, employment, suppliers’ delivery times and stocks of purchases indices was lower than the Flash India Manufacturing PMI of 55.9, released last month.
UNI VK AAB
Please log in to get detailed story.
Tags: #Services activity expands rapidly in April# PMI rises to 58.8
More News

12 May 2026 | 7:12 PM

New Delhi, May 12 (UNI) India's retail inflation for April is recorded at 3.48% on an year on year basis while the food inflation, based on Consumer Food Price Index, in April, 2026 stood at 4.20%, as per the government data. .

see more..

Bloodbath continues at Stock Market, Sensex down over 1400 points

12 May 2026 | 6:47 PM

New Delhi, May 12 (UNI) The bloodbath at the dalal street continues on Tuesday with the benchmark indices, the BSE Sensex and the Nifty 50, declined for the fourth consecutive session on Tuesday amid mixed global cues.

see more..

Telangana showcases EV charging success story at national conference in Bengaluru

12 May 2026 | 6:21 PM

Bangaluru/Hyderabad, May 12 (UNI) Telangana showcased its rapid progress in electric vehicle adoption and EV charging infrastructure at the National Conference on “Enabling Nationwide EV Charging Infrastructure under the PM E-DRIVE Scheme” held in Bengaluru on Tuesday.

see more..

Reliance Jio to file IPO’s draft prospectus, likely to list by July

12 May 2026 | 5:58 PM

Mumbai, May 12 (UNI) Reliance Industries Ltd-owned Reliance Jio Platforms Ltd is expected to file the draft red herring prospectus of its initial public offer (IPO) within the next fortnight or as even early as next week, as well as complete other regulatory formalities, so that the company can list on the stock exchange by July, according to investment officials.
Jio’s IPO valuation is expected to be in the range of $180 billion USD or Rs 15 lakh crore.

see more..

Banks register strong financial performance, business spikes to Rs 283 3 lakh crore

12 May 2026 | 5:17 PM

New Delhi, May 12 (UNI) The Public Sector Banks (PSBs) continued to register strong financial performance during FY 2025–26, reflecting sustained business growth, improved asset quality, record profitability and strong capital position.

see more..