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Business activity in India’s services sector softened in April but remained near its highest level in just under 14 years. However, some signs of weakness are emerging amid concerns that interest rates will stay higher for longer.

Gaura sen guptaFirst bankEmkay global financial servicesServices pmiHsbc india services business activity indexHsbc services pmiIndia services exportsSoftware services exportsIt servicesService sectorService sector companiesCrude pricesHigh inflationSticky inflationInterest ratesHigher for longer