Services Sector

No change in employment seen neither in services nor in manufacturing, says PMI survey

The average attrition rate across manufacturing and services industries increased sequentially to 8.27 per cent in the October-December quarter, a report said on Monday. With a continuance of the 'Great Churn', attrition across industries witnessed a 0.46 percentage point increase from an average of 7.81 per cent in the second quarter to 8.27 per cent in the third quarter, according to TeamLease "Employment Outlook Report". The report is forward looking statistics for 'Intent to Hire' for January to March 2023, for both manufacturing (nine industries) and services sectors (14 industries), which is based on a survey of 874 small, medium and large companies. The report revealed that the Information Technology industry in the services sector had higher average attrition (27.19 per cent) compared to Healthcare and Pharmaceuticals industry in the manufacturing sector (15.67 per cent). It found that healthcare and pharmaceuticals industries saw double digit attrition rates (15.67 per ce

Despite the Narendra Modi government's high-octane push to boost manufacturing through the 'Make in India' initiative, foreign investors continue to chase bets in the services sector, a domestic rating agency said on Wednesday. India Ratings and Research also said a bulk of the foreign direct investment (FDI) in manufacturing is not greenfield or fresh investments which should otherwise be the aspirational aspect. despite the government's effort to attract more investments in the manufacturing sector through 'Make in India' campaign, the FDI inflow is still tilted in favour of the services sector, the rating agency said. this could be because doing business in the services sector is less complicated than doing business in the manufacturing sector in India, the agency, an arm of Fitch Ratings, said. It said services sector FDI increased to USD 153.01 billion in the services sector during April 2014 to March 2022 from USD 80.51 billion during to April 2000 to March 2014, while the ..

79% employers willing to hire graduates and entry-level employees in country

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

A majority of employers in the services sector are keen to expand their workforce in the third quarter of this fiscal, according to a report. Around 73 per cent of employers are eager to increase their resource pool this quarter, according to TeamLease Services 'Employment Outlook Report for Q3 (October to December 2022) for the services sector. The 'TeamLease Employment Outlook Report' is based on a survey of 579 service companies in 14 cities across the country. The report further stated that in the services segment, the key sectors expressing a higher intent are information technology (96 per cent), educational services (95 per cent), e-commerce and allied start-ups (92 per cent), telecommunications (90 per cent), retail (79 per cent), financial services (78 per cent) and logistics (75 per cent). As the demand for services has increased post the pandemic, large firms (79 per cent), medium-sized firms (45 per cent) and small firms (57 per cent) have all mustered a strong hiring .

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

It was rural India that made the bigger con­tri­bution to the turnaround in labour conditions

According to the 'Employment Outlook Report' by TeamLease Services, 61 per cent of employers of India Inc. were keen to hire during the period, growing by 7 per cent compared to last quarter

The scheme is expected to be a part of the new foreign trade policy expected to be rolled out by the Directorate General of Foreign Trade next month, said people in the know

The domestic market remained the key source of sales growth as international demand for Indian services worsened further, the survey said

The upturn in recovery of Indian economy was fueled by an expansion in services activity and a robust growth in core infrastructure industries

Activity in China's services sector contracted at the steepest pace in two years in March as the local surge in coronavirus cases restricted mobility and weighed on client demand

SEPC says travel, tourism and hospitality sectors need govt support

Companies less optimistic that activity would rise over the next year, with positive sentiment reaching a five-month low: PMI survey.

Services sector shows traction on rise in loan to finance firms

Omicron could prove a hurdle, may particularly impact contact intensive segments, says Survey

Broad-based credit expansion is expected over the next two to three quarters

Tertiary sector is not going to generate most of these 100 million jobs; focus should be on manufacturing and formal sector

Increase in companies creating employment ended a nine-month sequence of job shedding.