New Delhi, 4 November: Demand buoyancy fuelled growth of business activity and new orders across India’s service economy in the month of October, as HSBC PMI came at 55.8 on October 4. This was a rise from 55.2 in September which is the strongest pace of growth for four months.
The Services PMI was comfortably above the neutral mark of 50.0 and its long-run average. Encouragingly, input cost inflation retreated to its lowest mark since August 2020. Concurrently, prices charged for the provision of Indian services rose at the weakest rate since June, according to the PMI data.
India’s composite PMI increased to 56.2 in October, from 55.9 in September, marking the fastest rise in aggregate output in four months and reflecting healthy business activity.
“India’s services PMI rose to 55.8 in October, a four-month high, as business conditions improved cautiously. Although overall demand remained fairly strong, new export orders recorded the slowest pace of expansion since February 2023,” said Pranjul Bhandari, Chief India Economist at HSBC.
Meanwhile, input and output prices continued to rise, but at a slower pace than in the previous month, signalling some relief from inflation pressures, she mentioned.
All four broad areas of the service economy tracked by the PMI survey recorded quicker expansions in new business and output, with growth led by Finance & Insurance in both cases. Real Estate & Business Services came last in the rankings.
Underlying data showed that India’s domestic market was the main source of sales growth in October.
When assessing growth prospects, service providers were confident of a rise in output over the course of the coming 12 months, said the PMI data.
Railways posts record October freight loading, passenger traffic rises
New Delhi, 4 November: Indian Railways recorded its highest-ever freight loading for October, transporting 145.07 million tonnes of freight during the month, marking an increase of 8.32 per cent from 133.93 million tonnes in October 2025.
The statement from the Ministry of Railways said the growth was driven by higher movement across several key commodities. Food grain loading increased by 26.3 per cent, domestic coal by 16 per cent, balance other goods by 11 per cent, clinker by 10.4 per cent.
Domestic containers rose 6.3 per cent, iron ore by 5 per cent, mineral oil by 1.9 per cent and finished steel by 0.5 per cent.
Indian Railways stepped up domestic coal transportation to meet the increased requirement of power houses, supplying an average of 469.8 rakes per day during October 2026, compared to 393.2 rakes per day in the corresponding month last year, up 19.5 per cent.
The strong performance in October 2026 builds upon the growth recorded during the first seven months of FY27 (April–October). Indian Railways loaded 978.78 million tonnes of freight, compared to 935.10 million tonnes during the corresponding period last year, up 4.67 per cent during this period.
Passenger mobility also witnessed steady growth during October, as Indian Railways carried 64.72 crore passengers, compared to 63.52 crore passengers during the corresponding month last year.
Indian Railways carried 443.8 crore passengers during April–October 2026, compared to 431.4 crore during the corresponding period last year. The non-suburban segment recorded growth of 4.2 per cent, while the suburban segment registered an increase of 1.7 per cent.
“The growth in freight loading reflects Indian Railways’ commitment to strengthening logistics and supporting India’s economic growth. Through capacity augmentation and improved operational efficiency, Indian Railways continues to enhance its transportation network,” the statement noted.
PSG rout against Villareal 6-0 in Champions League
Spain, 4 November: Paris Saint-Germain produced a devastating attacking performance to hand Villarreal a 6-0 thrashing in the UEFA Champions League, with the defending champions scoring four goals inside the opening 17 minutes to leave the Spanish hosts completely overwhelmed.
The French giants exploited a series of defensive mistakes from Villarreal to establish an almost unassailable advantage before the match had properly settled. The scale of PSG’s early dominance was evident as several home supporters reportedly began leaving the stadium before the 20-minute mark.
Joao Neves initiated the onslaught by finding the net from close range after Villarreal failed to deal with a corner. The visitors needed little time to double their advantage, with Desire Doue capitalising on a disastrous attempt by goalkeeper Peter Gulacsi to play the ball out from the back.
Villarreal’s defensive problems showed no signs of easing as PSG struck again just a minute later. Senny Mayulu won possession during another attempted build-up from the hosts and made no mistake with his finish past Gulacsi.
Fabian Ruiz completed the remarkable opening spell, getting on the end of a PSG attacking move inside the penalty area before drilling the ball into the near post to make it 4-0. The Spanish midfielder continued his impressive contribution after the interval, producing a neat piece of skill to get past his marker before slotting home his second goal of the night.
With Villarreal struggling to find any response, 17-year-old David Boly put the finishing touches on the demolition. The youngster made an impressive run down the flank and sent the ball towards goal, with his effort taking a deflection off a Villarreal defender before crossing the line.
The result once again highlighted PSG’s formidable attacking strength in Europe. Their forward line has now demonstrated its ability to dismantle some of the continent’s leading sides, having also scored four goals against Barcelona and Manchester City in Champions League action this season.
The emphatic win keeps PSG at the summit of the league-phase standings with a perfect 12 points. They will look to maintain their momentum when they welcome Roma on November 25. Villarreal, who have managed only one victory so far, will attempt to revive their campaign away against Slavia Prague on the same date.
