Business ActivityActivity in India’s dominant services sector moderated in March after expanding the previous month at its quickest pace in a year.
The IHS Markit India Services PMI eased to 54.6 from 55.3, with a reading above 50 signaling growth. A similar survey for the manufacturing sector also showed expansion moderating.ExportsExports grew more than 60% from a year ago, engineering goods, with gems and jewelery, drugs and pharmaceuticals, and chemicals leading shipments.
Merchandise imports too staged a smart rebound in March, growing by 53.7% from a year ago on the back of an uptick in domestic economic activity.Consumer ActivityPassenger vehicle sales more than doubled from a year ago, rising to 291,000 units in March, according to.