FX.co ★ India's Services PMI Shows Modest Slowdown in October

India's service sector exhibited a slight tempering in its growth trajectory in October, as reported by the S&P Global Services PMI. The index, which is an indicator of the economic health of the service sector, dipped to 58.8 from a robust 60.9 recorded in September 2025. The latest figures, updated as of October 24, 2025, indicate a gradual cooling within the sector.

While the service economy continues to expand, the softer PMI reading hints at a slowed pace compared to the previous month. A PMI above 50 still marks expansion in the sector, suggesting that despite the deceleration, service activities remain resilient. Analysts are closely watching these trends to assess their potential implications on broader economic growth and employment within the sector.

This shift in momentum comes amid global uncertainties that might have contributed to such fluctuations. However, the enduring expansion signal reveals that underlying demand still holds strength, maintaining India’s status as a pivotal player in the global services landscape. The forthcoming months will be critical in evaluating whether this slowdown marks a temporary adjustment or signals a longer-term trend.