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India's services industry experienced a slight slowdown in growth in August, although conditions remained strong overall, according to a business survey. The S&P Global India services Purchasing Managers' Index fell to 60.1 in August from 62.3 in July, but remained above the 50-mark indicating growth for the 25th consecutive month. The survey also found that exports were at record highs due to robust foreign demand. Despite slowing global growth, India is expected to be the fastest-growing major economy. Inflationary pressures increased, prompting concerns that interest rate cuts may be delayed.
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