Markit Services PMI is an indicator of business conditions in India, calculated by IHS Markit based on monthly surveys of purchasing managers. The index provides operational information covering business activity of the entire Indian private services sector.
PMI is one of the most popular indexes, which is closely watched by economists. It is interpreted as a leading indicator of service sector activity and inflation. The PMI growth is an indication of favorable market conditions and can be seen as positive for Indian rupee quotes.