Mumbai, May 6 -- India's service sector made a strong start to the first fiscal quarter - according to HSBC PMI data compiled by S&P Global - as growth of new business and output remained sharp and among the fastest in 14 years. In addition to buoyant domestic demand, firms noted new business gains from several parts of the world, which collectively underpinned the second-quickest upturn in international sales since the series started in September 2014.
Wage pressures and higher food prices meanwhile led to another increase in cost burdens, which firms partially passed on to their customers. Charge inflation eased from March's near seven-year high, however.
Despite falling from 61.2 at the end of the previous fiscal quarter to 60.8 in Apr...