The PSU firm further noted that it continues to work towards maintaining reliable and efficient energy access, aiming to support both households and businesses during the current period of uncertainty. New Delhi: State-run oil marketing company Indian Oil Corporation Ltd (IOCL) on Monday said
iPhone Fold tipped to use an advanced hinge design to solve crease issue: ReportApple may bring a foldable iPhone with a new hinge design using 3D printing, which aims to reduce crease visibility and improve screen durability over time. Updated on: Apr 06
The Bangladeshi government has said it suspects that measles has killed at least 98 children in the past three weeks in the country, AFP reported on Sunday. This has prompted the government to launch an emergency vaccination drive in 18 high-risk districts
A couple died on the spot while four others, including their two children, survived after a car, in which the six persons belonging to the same family were travellinig, plunged into an irrigation canal at Peketipakala village under Mandapeta Rural police limits in East Godavari district
Sunrisers Hyderabad, a side already backed into a corner by injury, was pinned to the wall a bit more by a man with a point to prove. Age had bent Mohammed Shami’s back, not his spirit. He struck, not with the fury of youth, but the precision of a legend to lay the foundation of Lucknow Super
NCP leaders said that they are trying to get in touch with Congress President Mallikarjun Kharge to get Sunetra Pawar elected unopposed. In Maharashtra's political landscape, Congress has caused chaos with a single move. While political parties across the spectrum have decided not to field a
Pressure from MPs and Jewish groups is mounting to cancel Kanye West's appearance at Wireless Festival and prevent him from entering the UK over his previous antisemitic comments. The star, now known as Ye, released a song called Heil Hitler and sold swastika T-shirts last year before apologising
Dehradun: Pilgrims heading to Kedarnath this year will have to book helicopter tickets exclusively through IRCTC. The Uttarakhand Civil Aviation Development Authority (UCADA) has announced that 100% of bookings will be online, with the portal scheduled to open on April 10, 2026
India service economy grew at its slowest pace in 14 months in March 2026
India service economy grew at its slowest pace in 14 months in March 2026
India service economy grew at its slowest pace in 14 months in March 2026
The India Services PMI fell to 57.5 in March 2026 from 58.1 in February for the softest rate of expansion since January 2025.
Updated on: Apr 06, 2026 2:33 PM IST By HT Business Desk Share via Copy link India's services economy lost momentum for a second consecutive month in March, growing at its slowest pace of expansion in more than a year as demand cooled and inflationary pressures built amid an ongoing Iran war. The slowdown reflects a cooling in new business intakes, which moderated to a 14-month low. (Pixabay) The HSBC India Services Purchasing Managers’ Index, compiled by S&P Global, fell to 57.5 last month from 58.1 in February. While the reading remains above the 50-mark that separates expansion from contraction, it represents the softest rate of expansion since January 2025. The slowdown reflects a cooling in new business intakes, which moderated to a 14-month low. Survey participants noted that domestic demand was weighed down by market volatility and the lingering impact of geopolitical tensions in the Middle East, which dampened tourism and broader commercial activity.Export Engine Revs Up
Despite the domestic deceleration, India’s service providers saw a surge in international appetite. New export orders rose at the fastest clip since mid-2024, with broad-based gains reported from markets in Asia, Europe, and the Americas. “Demand remained resilient, led by new export orders,” HSBC Chief India Economist Pranjul Bhandari said in a statement. “As such, service providers' expectations for future activity remained positive.” The divergence between cooling domestic sales and heating foreign demand suggests that India’s services engine is increasingly leaning on global markets to offset local fatigue.Inflationary Headwinds
A primary concern for policymakers will be the sharp spike in operating expenses. Input cost inflation accelerated to its fastest pace in nearly four years, driven by a broad rally in the prices of fuel, electricity, and essential food items including meat, vegetables, and cooking oil. In response, service providers hiked their own selling prices at the quickest rate in seven months to protect margins. Consumer services saw the most aggressive increase in input costs, while the Finance & Insurance segment led the way in raising charges for end-users. “Input cost inflation accelerated to its fastest pace since 2022, indicating that higher fuel, transport and logistics costs are feeding into services,” Bhandari said.Labour Market Resilience
The cooling activity has yet to hit the labour market. In a sign of corporate confidence, job creation accelerated to its strongest pace since mid-2025. Firms reported a third straight month of hiring, bolstered by the highest level of business optimism in nearly 12 years. Companies attributed this "upbeat" outlook to aggressive advertising campaigns and hopes for a recovery in domestic market conditions.Composite Weakness
The broader economy also showed signs of a soft patch. The HSBC India Composite PMI Output Index, which weights both manufacturing and services, dropped to 57.0 from 58.9. This marks the weakest expansion for the private sector in nearly three-and-a-half years. While manufacturers saw a slight improvement in international demand, the composite data reinforces a narrative of a cooling economy grappling with “sticky” inflation and a domestic market that is finally beginning to feel the pinch of higher costs. ABOUT THE AUTHOR HT Business Desk The HT Business Desk provides comprehensive coverage of the Indian and global financial markets. Based in Mumbai and New Delhi, the team tracks everything from Sensex and Nifty movements to the latest from India Inc., trade deals, and macroeconomic policy. We aim to empower readers with timely, fact-checked news that clarifies the complexities of the business world.Read More Indian Economy Stay updated with the latest Business News on Petrol Price, Gold Rate, Silver Rates, Diesel Prices along with Income Tax Calculator Home / Business / India Service Economy Grew At Its Slowest Pace In 14 Months In March 2026 See LessIndia's services economy lost momentum for a second consecutive month in March, growing at its slowest pace of expansion in more than a year as demand cooled and inflationary pressures built amid an ongoing Iran war.
The HSBC India Services Purchasing Managers’ Index, compiled by S&P Global, fell to 57.5 last month from 58.1 in February. While the reading remains above the 50-mark that separates expansion from contraction, it represents the softest rate of expansion since January 2025.
The slowdown reflects a cooling in new business intakes, which moderated to a 14-month low. Survey participants noted that domestic demand was weighed down by market volatility and the lingering impact of geopolitical tensions in the Middle East, which dampened tourism and broader commercial activity.
“Demand remained resilient, led by new export orders,” HSBC Chief India Economist Pranjul Bhandari said in a statement. “As such, service providers' expectations for future activity remained positive.”
The divergence between cooling domestic sales and heating foreign demand suggests that India’s services engine is increasingly leaning on global markets to offset local fatigue.
In response, service providers hiked their own selling prices at the quickest rate in seven months to protect margins. Consumer services saw the most aggressive increase in input costs, while the Finance & Insurance segment led the way in raising charges for end-users.
“Input cost inflation accelerated to its fastest pace since 2022, indicating that higher fuel, transport and logistics costs are feeding into services,” Bhandari said.
Companies attributed this "upbeat" outlook to aggressive advertising campaigns and hopes for a recovery in domestic market conditions.
While manufacturers saw a slight improvement in international demand, the composite data reinforces a narrative of a cooling economy grappling with “sticky” inflation and a domestic market that is finally beginning to feel the pinch of higher costs.
Source: HindustanTimes
Related Posts: Trent Drops 6% Post Q2 Results Show Slowest Revenue Growth Since 2021 UK economy grew by 0 China economy grew below 3% in 2025 Russian factory activity shrinks at fastest pace since March 2022 Japan's Sept factory activity falls at fastest pace in six months Online bus bookings grew 25% in 2025 Techie Shares How His Salary Grew From Rs 10 LPA To Rs 40 LPA In Just 2 Years Musician born to Canadian mom and Italian dad shares how she grew up in India Long-Pending Velachery-Parangimalai MRTS Train Service To Start March 14 India's Service Sector Scales New Heights Towards $5 Trillion Economy
The Chhattisgarh High Court has sentenced Amit Jogi, son of former Chief Minister Ajit Jogi, to life imprisonment in a 2003 murder case, reported The Hindu on Monday. He had been convicted on Thursday for conspiring to kill Nationalist Congress Party treasurer Ramvatar Jaggi
1 minutes ago
The Congress on Monday (April 6, 2026) took a swipe at Prime Minister Narendra Modi after the Supreme Court directed the CBI to launch a preliminary inquiry into contracts allegedly awarded to Arunachal Pradesh Chief Minister Pema Khandu's family members
1 minutes ago
Mumbai surgeon rates 5 best and worst foods for your health, warns ramen is not at all a healthy eating optionDr Manan Vora rates ramen, mango, watermelon, broccoli and parmesan cheese based on the health benefits they provide. Published on: Apr 06
1 minutes ago
US-Israel Iran War: Four people have died in Haifa, Israel. An Iranian missile strike reportedly hit a residential building late Sunday. Search and rescue teams recovered the bodies from the rubble. The Israeli military confirmed the fatalities on Monday
1 minutes ago
The Reserve Bank of India’s Monetary Policy Committee (MPC) meeting has commenced amid persistent global uncertainties, with the policy decision scheduled to be announced on April 08. Amid volatile crude oil prices and ongoing geopolitical tensions
1 minutes ago
Guwahati is experiencing a vibrant metamorphosis into a bustling urban hub. The nightlife sparkles with the emergence of trendy clubs and chic bars, while cozy cafes serve as favorite spots for daytime socializing, fostering a surge in hospitality job opportunities. Infrastructure development
1 minutes ago
US television presenter Savannah Guthrie has returned to NBC's Today show, telling her co-anchors it was "good to be back", as the search for her mother continues. It was her first appearance in the studio since 30 January, two days before her 84-year-old mother Nancy was reported missing
1 minutes ago
The eyes are among the most vital yet delicate organs in the human body. They constantly work to process visual information and help us navigate the world around us. Despite their importance, they are often subjected to significant strain, especially in today’s fast-paced, screen-driven lifestyle
1 minutes ago
Iran’s Islamic Revolutionary Guard Corps stated that its intelligence chief, Majid Khademi, was killed in a United States-Israeli strike on Monday. Khademi is the latest high-ranking Iranian official to be killed since the assassination of Iran’s Supreme Leader Ayatollah Ali Khamenei on
1 minutes ago
US airman shot down in Iran rescued from mountain crevice; when fake sci-fi film Argo helped diplomats escapeAfter a daring rescue operation by the US in Iran during the West Asia conflict, looking back at when the CIA pulled off a daring operation after 1979. Apr 6, 2026
1 minutes ago
Iran launched fresh attacks across West Asia on Monday (April 6, 2026) and threatened “devastating” retaliation, after U.S. President Donald Trump’s expletive-laced warning that Tehran must reopen the Strait of Hormuz. Israel, Kuwait and the United Arab Emirates reported a barrage of missile
1 minutes ago
Royal Challengers Bengaluru mentor Dinesh Karthik lauded Devdutt Padikkal's batting and leadership qualities. Meanwhile, former India captain Anil Kumble voiced concerns over Chennai Super Kings' batting lineup. Padikkal's performance in the IPL has drawn praise
1 minutes ago
Entrepreneur reflects on Gurgaon’s evolving ecosystem, says temple chats now centre on startupsAn entrepreneur shared how a Gurgaon temple chat revealed a shift from factories to startup investments. Published on: Apr 06, 2026 5:06 PM IST By Mahipal Singh Chouhan Share via Copy link An EdTech
1 minutes ago
Bhooth Bangla trailer: The film features Akshay Kumar, Wamiqa Gabbi, Paresh Rawal, Tabu, Rajpal Yadav, Jisshu Sengupta, and Mithila Palkar. New Delhi: The makers of upcoming horror comedy Bhooth Bangla just dropped the trailer. And it is packed with laughs, spooks, and amazing one-liners
1 minutes ago
Nirvika, US teen of Indian origin, wins the Drive, Chip and Putt National Finals at Augusta Published on: Apr 06, 2026 5:17 PM IST By Joy Chakravarty Share via Copy link Nirvika Koduru, a US golfer of Indian origin, with the trophy after winning the girls’ 14-15 age group title of the Drive
1 minutes ago
The 11th league match of IPL 2026 between Royal Challengers Bengaluru and Chennai Super Kings is scheduled to take place at M Chinnaswamy Stadium on April 5. Five-time champions Chennai Super Kings will face defending champions Royal Challengers Bengaluru in a high-voltage IPL 2026 match on Sunday
Just now
The ugly stain of racism continues to plague football. And this time, it’s Lamine Yamal in the spotlight. The Barcelona star was subjected to racist abuse during his side’s recent clash against Atletico Madrid, a game the Catalans dramatically won 2-1
1 minutes ago
In a major security breach, an unidentified car rammed security barricades and entered the premises of the Delhi Legislative Assembly on Monday. In a major security breach, an unidentified car rammed security barricades and entered the premises of the Delhi Legislative Assembly on Monday
1 minutes ago
India gold and silver prices fall sharply on April 6, 24k gold near Rs 1.37 lakh per 10g in major cities, MCX gold and silver also trade lower amid strong US dollar Gold and Silver Rates In India Today, April 06: Gold and silver prices in India fell sharply on April 6
1 minutes ago
![Kolkata (West Bengal) [India], April 6 (ANI): Kolkata Knight Riders (KKR) have unveiled a striking new mural at Rash Behari Avenue](http://newsorbit360.com/files/news/en/imgs/kolkata-knight-riders-unveil-a-fan-mural-at-rash-behari-avenue-in-sout.webp?height=520)
Kolkata (West Bengal) [India], April 6 (ANI): Kolkata Knight Riders (KKR) have unveiled a striking new mural at Rash Behari Avenue, transforming one of South Kolkata’s busiest streets into a vibrant celebration of the team’s deep-rooted bond with its fans.Kolkata (West Bengal) [India]
1 minutes ago
Editorial independence is core to our work. Some links may earn us a commission, without influencing our opinions.Samsung Messages is shutting down in July: What Galaxy users must do nowSamsung says that owners of the Samsung Galaxy S26 series and newer Galaxy devices will also not be affected by
1 minutes ago
Problematics | Ageing superheroesEither Black Widow or Captain Marvel or Scarlet Witch is lying. Which superhero is how old? Updated on: Apr 06, 2026 5:49 PM IST By Kabir Firaque Share via Copy link Fiction is flexible when it comes to the ages of evergreen characters
1 minutes ago
An Instagram video was shared by Anirudh Sharma where he spoke about his experience of working as a banking professional in Poland and the kinds of benefits that employees receive in addition to their monthly salary. New Delhi: An Indian banking professional based in Poland has drawn significant
1 minutes ago
‘Your wife has bank links in Pakistan’: Himanta Sarma’s wife to Gaurav Gogoi amid passport, Dubai links rowRiniki Bhuyan's remarks come amid earlier claims by chief Minister Himanta Biswa Sarma alleging Gaurav Gogoi’s wife had “several” bank accounts in Pakistan. Published on: Apr 06
1 minutes ago
Triumph Motorcycles has introduced the new Triumph Tracker 400 in India at a price of Rs 2.46 lakh (ex-showroom). It is positioned as a flat track-inspired road motorcycle. Triumph Tracker 400: Triumph Motorcycles has introduced the new Triumph Tracker 400 in India at a price of Rs 2
1 minutes ago
Every year at San Mames, the iconic home of Athletic Club in Bilbao, local fans pause to recognise and celebrate players not from their own club, but those who share a unique value with the Basque outfit - loyalty. Athletic Club - famous for only fielding players born or raised in the region -
1 minutes ago
India service economy grew at its slowest pace in 14 months in March 2026The India Services PMI fell to 57.5 in March 2026 from 58.1 in February for the softest rate of expansion since January 2025. Updated on: Apr 06, 2026 2:33 PM IST By HT Business Desk Share via Copy link India's services
1 minutes ago
