The HSBC India Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of around 400 service sector companies.

The seasonally adjusted HSBC India Services PMI Business Activity Index climbed to 59.0 in February, recovering from a 26-month low of 56.5 recorded in January.

The seasonally adjusted HSBC India Services Purchasing Managers’ Index rose to 59 in February from 56.5 in January, remaining comfortably above the 50-point mark that separates expansion from contraction.

Indian manufacturers saw loss in new orders and slowed production momentum with February's PMI plummeting to a 14-month low of 56.3, data showed on Monday. The manufacturing PMI for the previous month had been 57.7. Growth in the services sector, however, pushed the overall Composite PMI for Feb to 58.8, from 57.7 last month.

India's services sector saw a sharp uptick in February, driven by strong domestic and international demand, leading to robust output growth and job creation, according to the HSBC India Services PMI.

Inflation in India has mostly remained within the Reserve Bank of India's (RBI) target range of 2-6%, prompting the central bank to cut its key repo rate in February. The RBI lowered the interest rate to 6.25% from 6.50% and is expected to ease further to boost the economy.

Russia's services sector saw its slowest growth in six months in February, a business survey showed on Wednesday, as new order growth slowed. The S&P Global Purchasing Managers' Index for Russian services fell to 50.

The HSBC India Services PMI rose to 59.0 in February, up from January's 26-month low of 56.5, indicating a sharp expansion in business activity. India's services sector expanded at a stronger pace in February,