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Activity in India's dominant services industry gathered pace in October despite high inflationary pressures, underpinned by robust domestic demand, leading to the second fastest hiring pace in over three years, a private survey showed.
The S&P Global India services Purchasing Managers' Index edged up to 55.1 in October from September's six-month low of 54.3, easily beating the Reuters poll expectation for 54.6 and above the 50-mark that separates expansion from contraction for a fifteenth month.
