The flash composite Purchasing Managers' index (PMI), a key indicator of economic health, decreased to 59.3 in September from an upwardly revised 60.7 in August.

Growth in India's business activity slowed to a nine-month low in September amid a slight cooling in demand and an uptick in costs, according to a survey that also showed services sector jobs rose at the fastest pace in two years.

The headline HSBC Flash India Composite* Output Index – a seasonally adjusted index that measures the month-on-month change in the combined output of India’s manufacturing and service sectors – dipped to 59.