India, April 6 -- India's services economy lost momentum for a second consecutive month in March, growing at its slowest pace of expansion in more than a year as demand cooled and inflationary pressures built amid an ongoing Iran war.

The HSBC India Services Purchasing Managers' Index, compiled by S&P Global, fell to 57.5 last month from 58.1 in February. While the reading remains above the 50-mark that separates expansion from contraction, it represents the softest rate of expansion since January 2025.

The slowdown reflects a cooling in new business intakes, which moderated to a 14-month low. Survey participants noted that domestic demand was weighed down by market volatility and the lingering impact of geopolitical tensions in the Mid...