India's services PMI rose to 57.5 in January

It's the fastest pace in a year.

According to BBVA, signalling an improving growth outlook, India's services PMI expanded at the fastest pace in a year in January, rising to 57.5 from 55.6. 

Meanwhile, input and output prices grew at a modest pace last month, suggesting moderating inflation pressures and further scope for monetary policy easing going forward.

"We anticipate another 75 bps in repo rate cuts by the RBI in 2013, after the central bank cut by 25bps last month,"