Falling from October's eight-month high of 53.2 to 50.1 in November, the seasonally adjusted Nikkei Business Activity Index pointed to broadly unchanged levels of services activity across the country.

The gloomy trend was also observed in the labour market, as employment rose at a pace that was historically muted.

Meanwhile, the seasonally-adjusted business activity index grew only fractionally above the no-change mark of 50. On the prices front, it said output prices in the Indian services sector stabilised in November.

Manufacturing sector grew at its slowest pace in 25 months in November on sluggish pace of new business orders.

Meanwhile, India's economy grew by 7.4 percent in July-September quarter, outpacing China to become the fastest growing major economy.

The Reserve Bank has left its policy rates unchanged, as was widely speculated, and promised more easing when permitted within its key task of keeping inflation under check.

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