Driven by a rise in export orders in April, the HSBC Flash India Composite Output Index, a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors, rose to 60.0 in April against a final reading of 59.5 in March.
Flash services PMI is an early estimate of the PMI for a country.
The services sector's index climbed to 59.1 in April compared with March's final figure of 58.5. On the other hand, flash manufacturing PMI was up at 58.4 in the reported month from 58.1 a month ago, according to the HSBC Flash India Purchasing Managers' Index (PMI) data released on Wednesday.
"New export orders accelerated sharply, likely buoyed by the 90-day pause in the implementation of tariffs. As a result, output and employment grew, for both, manufacturers and service providers," said Pranjul Bhandari, Chief India Economist at HSBC.
As per the report, new export orders, for both goods and services, increased at the fastest pace since the series started in September 2014.
The HSBC flash PMI data also showed quicker expansions in aggregate output and employment.
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