NEW DELHI: Activity in India’s dominant services sector grew at its fastest pace in five months in April on strong demand, prompting firms to add jobs for the first time since November, a private survey showed, but sky-rocketing inflation remains a major concern.
The S&P Global India Services Purchasing Managers’ Index (PMI) rose to 57.9 in April from 53.6 in March, its highest since November and surpassing the 54 estimate in a Reuters poll. While the index remained above the 50-mark separating growth from contraction for a ninth straight month, it was the best start to a fiscal year for the sector since 2011 and 2012.
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