21.05.202605:00:00UTC+00India’s Services Momentum Edges Higher as HSBC PMI Ticks Up in May

India’s services sector maintained its strong growth trajectory in May 2026, with the HSBC India Services PMI inching up to 58.9 from 58.8 in April 2026. The marginal rise underscores continued expansion in the country’s key services industries, which remain firmly in growth territory above the 50-point threshold.

The latest reading, updated on 21 May 2026, suggests that business activity and demand conditions in services are holding steady, with only a slight acceleration from the previous month. While the gain is modest, the sustained high level of the index indicates resilience in services, a critical pillar for India’s broader economic performance.

Market participants are likely to interpret the May print as a sign of ongoing stability rather than a major shift in momentum, as the PMI remains close to April’s level. Nonetheless, the continued strength in services could support confidence in India’s near-term growth outlook.