Service Sector

Service sector firms valued at Rs 500 crore or more account for more than 60% of the capex and 70% of the output, a study has found

Govt looking at simplified GST processes for e-commerce, travel industries to ease compliance

The options before the authorities include a change in the GST law with an additional clause or adding its definition with a slight change in processes for the industries that work differently.

Service sector exports likely to touch $350 billion this fiscal: SEPC

Abhay Sinha, Deputy Director-General, Service Export Promotion Council (SEPC), stated the goal has been revised from USD 300 billion to USD 350 billion for 2022-23.

India's services sector activity expands in September; employment rises for first time in 10 months

The seasonally adjusted India Services Business Activity Index fell from 56.7 in August to 55.2 in September, but remained well above its long-run average.

Japan's service sector activity shrinks for fourth month in May: PMI

The final seasonally adjusted au Jibun Bank Japan Services Purchasing Managers' Index (PMI) rose to a seasonally adjusted 26.5 in May from a record low 21.5 in the previous month.

Coronavirus pandemic | More staff in service sector companies to work from home in future as well

More than a month into it, industry executives feel it has been a blessing in disguise and will lead to a larger number of people to work from home in the post coronavirus world.

Coronavirus pandemic | India's March services activity contracts amid COVID-19 disruptions

April's downturn could be more severe.

Service sector to help boost overall economic growth: Suresh Prabhu

"Services exports will boost overall exports in the years to come. Services are going to be a big dominant part of the Indian economy and it will push the economic growth," Prabhu said here at the 52nd convocation of Indian Institute of Foreign Trade (IIFT).

Services PMI contracts to 4-year low in July, post GST

The Nikkei India Services Purchasing Managers' Index (PMI), a pointer to services output on a monthly basis, plunged to 45.9 in July, the lowest since September 2013, from June's eight-month high of 53.1. The July services PMI also signalled the first downturn in output since the start of this year.

Caixin services PMI for China in March at 52.2, below expected 53.2 level

The Caixin/Markit services purchasing managers' index (PMI) for March fell to 52.2 from February's 52.6, but remained above the 50-level that separates expansion from contraction.

Budget 2016: Ensures long term steady growth for retail sector

While there have not been any sector specific major proposals or any significant reforms and while GST is still a dream, there is a visible shift in the tax regime towards long term stability and reliability.

Japan business mood subdued amid fears of global slowdown: Poll

In a sign of the stiff headwinds dragging on growth in the world's third-largest economy, service-sector sentiment also soured though it was expected to stabilise somewhat in the near term, the Reuters Tankan showed.

RBI expected to maintain status quo: DBS

The Reserve Bank of India (RBI) is expected to keep the interest rate unchanged in its sixth bi-monthly policy review meet tomorrow, Singapore�s leading bank DBS said today.

Govt reinstates services under defence offset norms

Under the amendments, training and quality assurance related services have been kept out but MRO or design or R&D and two more service related offsets have been bought back.

Heating, cooling to grow in FY16; power stagnant: Thermax

MD Unnikrishnan, MD, Thermax told CNBC-TV18 that company will improve its capacity utilisation from second quarter of this year, but doesn't see growth in the power segment.

NSIC forays into service sector

The new focus of NSIC would create ample opportunities for those engaged in Tourism, Healthcare, Logistic, Education, Information Technology, Telecom, project exports, etc.

Services growth soars to 8-month high: HSBC

Services sector expanded rapidly in February at the fastest growth rate in eight months, driven by significant rise in new business orders even as jobs fell marginally in the sector, an HSBC survey said on Wednesday.

Need to push reforms in services sector: Sitharaman

Recognising the fact that better services improve the competitiveness of manufacturing in international trade via reduced costs, the Minister stressed the role of services in the success of "Make in India" campaign.

Indian business activity falls to 4-year low: HSBC

The country's Purchasing Mangers' Index (PMI) — a closely watched indicator of a country's business strength — was 46.1 in September, down from 47.6 in the previous month.

India's services sector-based economic model is its problem

Gary Dugan of RBS-Wealth Division talks about the recent currency crash in Asia, where the rupee is headed in the days to come and why you would be lucky, if you are able to find a three-bedroom apartment anywhere in one of the major cities of the world, for less than USD 100,000.

Services growth falls; new business weakest in 2 yrs: Poll

The HSBC-Markit Purchasing Managers' Index for service sector fell to 51.7 in June from May's high of 53.6 reflecting bad or no growth in the sector. New businesses have seen the slowest pace in two years.

Japan big manufacturers' mood turns positive: BoJ Tankan

A survey by Bank of Japan revealed that the sentiment among Japanese manufacturers had turned positive in the past three months. The service sector was also positive on robust private bank consumption.

Indian service sector brightens BRIC trends: Survey

India's services sector activity expanded in May and the pace was the fastest in three months, driven by up tick in new orders.

HSBC India services PMI jumps to 3-month high in May

"Service sector activity picked up pace in May led by firmer order flows. Moreover, companies were more optimistic about the domestic and global economic outlook," HSBC Chief Economist for India & ASEAN Leif Eskesen said.

Focus on inflation than growth as a trigger: Nomura

In an interview to CNBC-TV18, Sonal Varma of Nomura Financial Advisory & Securities says the numbers are along expected lines.