<h1>India's Services Sector Growth Slows in January; HSBC PMI Index Drops to 56.5, New Orders Decline</h1> India's services sector growth slowed in January, marking the slowest pace in over two years, as indicated by the HSBC India Services PMI Business Activity Index, which fell from 59.3 in December to 56.5. While overall new orders declined, international sales saw a quicker increase, with gains from clients in Asia, Europe, the Middle East, and the Americas. The slowdown in services was partly offset by increased export business. Service providers recruited additional staff due to rising capacity pressures, and the job creation rate accelerated. Rising expenses, particularly staff and food costs, led to increased service prices. Despite this, service providers remain optimistic about future business activity.