India’s services sector started on a strong note in 2021 with continued expansion in January 2021 as new business and activity expanded for the fourth month running, the latest IHS Markit India Services PMI survey showed

Bolstered by improved domestic demand, services sector expanded for the fourth consecutive month in January as business activities quickened and rising business optimism is set to sustain the growth momentum, a monthly survey said on Wednesday.

The seasonally-adjusted India Services Business Activity Index rose from 52.3 in December to 52.8 in January, pointing to a quicker expansion in output. The index was above the critical 50 mark that separates growth from contraction for the fourth month in a row during January.

Though the pace of growth accelerated from December, the headline figure remained below its long-run average of 53.3 and was consistent with a moderate pace of growth, the survey said. According to panelists, marketing efforts, the reopening of some establishments and strengthening demand all supported the increase in sales. "The Indian service sector enjoyed good levels of activity in January, with new business volumes rising for the fourth successive month and growth rates for both measures picking up from December," said Pollyanna De Lima, Economics Associate Director at IHS Markit.

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