- India's services sector activity surged to a seven-year high in January driven by sharp increase in new business orders, leading to job creation and business optimism.
- Fresh business orders were mainly generated domestically, as exports decreased at the start of the year. This was due to weaker demand from China, Europe and the US.
- The Composite PMI Output Index that maps both the manufacturing and services sector increased from 53.7 in December to a seven-year high of 56.3 in January.