India Services Sector

However, the survey itself may not come up before the end of 2024

The rise in credit was largely driven by housing and vehicle loans segments

The hiring boom in India's services sector is likely to continue in the third quarter, with 73 per cent of employers willing to increase their resource pool

Unrelenting inflation continued to worry businesses that were cautiously optimistic about the year-ahead outlook for business activity

The S&P Global India Services Purchasing Managers' Index rose to 53.6 in March from 51.8 in February, beating the 52.5 estimate in a Reuters poll.

While Covid hit services exports harder than manufacturing, the share of the former in global services exports seems to support the call experts have made in favour of the sector

The IHS Markit Services Purchasing Managers' Index eased to 55.2 in September from August's 18-month high of 56.7, but stayed comfortably above the 50-mark separating growth from contraction.

In a Q&A, UKIBC's group chair lists out three areas that need focus - tariff reduction in some sectors, removal of non-tariff barriers on goods, and aligning data protection rules

Firms cut jobs at fastest pace in 6 months as local lockdowns hurt demand

Growth in India's dominant services sector eased to three-month low in April but remained unexpectedly resilient even as Covid-19 crisis intensified and cost pressures rose at fastest pace in 9 years

Official data on Friday is likely to show that India exited a recession in the final three months of 2020, with economists in a Bloomberg survey forecasting a GDP expansion of 0.5% from a year ago

GDP contraction of 7.7% is much smaller than expected, DEA says

At the start of the week, the market will also take cues from July auto sales numbers which signal a recovery in the sector hit hard by Covid-19

Services sector remains in deep downturn as job losses continue

Services activity in the country has suffered a lot amid back-to-back nationwide lockdowns to prevent the spread of coronavirus.

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Exports zoom but job growth at 3-month low

The dominant sector of the economy had suffered two straight-months of contraction since September

He emphasised that these two sectors need to work together, as without services, manufacturing cannot succeed and without manufacturing, services cannot grow

He said the services sector has huge potential and it contributes in a significant way to the Indian economy.