India services growth slows to 14-month low in March

India’s services sector growth slowed to a 14-month low in March, according to the latest purchasing managers’ index (PMI) data.

The services PMI fell to 57.5 from 58.1 in February, marking the slowest expansion since January 2025.

Survey participants pointed to softer domestic demand and the impact of the West Asia conflict on business activity.

Input cost pressures also intensified, rising at the fastest pace in nearly four years, reported Reuters.

Higher costs were linked to increases in fuel, wages and other operational expenses.

Despite the slowdown, the PMI reading remained above the 50 mark, indicating continued expansion in the sector.

The data reflects moderation in growth momentum amid external pressures.

The services sector remains a key contributor to overall economic activity, with trends closely watched for broader signals.