India's services growth picks up in August but stays near four-year low, PMI shows

India's services sector saw a slight acceleration in August, though new business growth remained subdued. Overall activity stayed near its weakest point in over four years, despite increased hiring. Firms reported cautious optimism for future market conditions and demand improvements. Cost pressures nudged up modestly, with businesses passing on higher operating expenses. India's composite PMI held steady as manufacturing growth slowed significantly.

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