The HSBC India Services PMI was revised lower to 54.1 in August 2026 from a preliminary estimate of 54.5, following a final reading of 53.3 in the previous month, which was the weakest expansion since early 2022. Still, the latest reading signaled accelerating growth, supported by higher demand and new business, although the pace of expansion was still the second-slowest in nearly four-and-a-half years amid challenging market conditions.