The HSBC India Services PMI Business Activity Index registered 58.5 in March, indicating a sharp rate of expansion.The HSBC India Composite PMI Output Index increased to a seven-month high of 59.5, signaling above-trend growth.Buoyant underlying demand and ongoing increases in new business supported output and sales growth.The level of positive sentiment slipped to a seven-month low, and hiring activity was pared back in March.