Activity in India's services industry gathered pace in the month of October despite high inflationary pressures, underpinned by robust domestic demand, leading to the second fastest hiring pace in over three years, as per a private survey. The S&P Global India Services PMI rose to 55.1 in October, up from September's six-month low of 54.3. The headline figure was above the neutral 50.0 threshold for the fifteenth straight month and outpaced its long-run average.
