India's services sector experienced a moderated growth in December 2025, with the HSBC India Services PMI falling to 58.0, the slowest expansion in 11 months. This slowdown was attributed to softer growth in new business and output, alongside stalled hiring. Despite these trends, export orders strengthened, and inflation remained benign. Business sentiment, however, declined to a three-and-a-half-year low due to market uncertainty and exchange rate concerns.