AI Data Insight
India's services PMI for July 2026 (Q3) dropped significantly to 53.3 from the previous 57.4, remaining in expansion but hitting a near four-and-a-half-year low. Although domestic new order momentum slowed due to intensifying competition, overseas export demand and the labor market remained resilient. Looking ahead, improving profit margins are expected to provide support for medium-to-long-term operations, but the risk of short-term demand cooling requires close monitoring.