Services Sector

The report says that India's services sector is powering India's leap to a developed nation

India's service sector spare capacity in 11-14% range post-pandemic, similar to global norms: RBI bulletin

As per calculations by RBI researchers, India’s spare capacity had declined to a 10-quarter low of 11.3 percent in Q4FY24 compared with 11.7 percent in the previous quarter

Raghuram Rajan advocates service-led growth, human capital development to secure India's economic future

Raghuram Rajan also underscored the importance of job creation, particularly through the development of skills and called for greater collaboration between industry and training institutions to ensure that people have the skills needed to be employable.

Manufacturing to outpace services sector growth; services to contribute 42% in India's GVA by 2030, says report

PLI schemes for 14 different sectors, worth $25 billion, is likely to lead to production worth over $370 billion in the next five years, said the report

Weekly Numerics | Rising toll in Israel-Hamas war, limited impact of Canada row on student loans, and lack of quality service jobs

The number of those killed or wounded is rapidly rising as the conflict between Israel and Hamas intensifies. Meanwhile, the ongoing diplomatic row between Canada and India is unlikely to affect overseas student loans given out by NBFCs

India's services sector activity expands again in September as PMI rises to 61.0

Data on the services sector's performance comes after the manufacturing PMI fell to a five-month low of 57.5 in September

India's services sector exports defy global slowdown, grab higher global market share: Morgan Stanley

The services exports have risen to 150 percent of 2019 figures, showing that its growth is structural, says the US investment bank.

China's December services sector extends declines as COVID cases surge: Caixin PMI

The Caixin/S&P Global services purchasing managers' index (PMI) rose to 48.0 in December from 46.7 in November, but remained below the 50-point mark, which indicates contraction in activity, for a fourth straight month.

Services sector expands again in December, PMI rises to 58.5

The services PMI has now been above the key level of 50 for 17 months in a row

India's services sector output growth hits 3-month high in November on strong demand

The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 55.1 in October to 56.4 in November, indicating a sharp increase in output that was the quickest in three months even amid higher operating expenses.

Services exports: New scheme in the works to replace now suspended SEIS

Move could benefit exporters upset with the government cutting significant refunds under the Services Exports from India Scheme (SEIS), which can be claimed only till the 2019-20.

India poised to achieve services export target of $1 trillion by 2030: Piyush Goyal

According to Goyal, the services sector is one of the key driver of India’s economic growth. The sector provides employment to nearly 2.6 crore people and contributes approximately 40 percent to India’s total global exports, he said.

Exclusive | Lack of funds may end government incentives for services exports

Facing a funds crunch, and under international pressure by the WTO to realign the benefits it gives traders, the government had suspended the Merchandise Exports from India scheme (MEIS). Now, a similar scheme focusing on services exports may face the axe.

8 takeaways from Q3 GDP data as economy snaps out of recession

India exited the recession in the third quarter. However, growth was slower-than-expected and for the whole fiscal year, GDP is now expected to shrink 8 percent versus an earlier estimate of 7.7 percent.

COVID-19 impact | India's services sector slump stretched into May: PMI

Although the Nikkei/IHS Markit Services Purchasing Managers' Index crawled up to 12.6 in May from April's all-time low of 5.4 it remained a long way from the 50-mark separating growth from contraction. It was just below 50 in March.

China November services sector activity rises to 7-month high: Caixin PMI

Beijing has been counting on the services sector, which accounts for more than half of China's economy, to partly offset sluggish domestic and global demand for manufactured products as a prolonged trade war with the United States drags on.

FDI in services sector slumps 23% in 2017-18

The sector had attracted FDI worth USD 8.68 billion in 2016-17. The services sector includes finance, banking, insurance, outsourcing, R&D, courier, tech testing and analysis.

China services sector growth falls to 21-month low in September: Caixin PMI

The survey was in sharp contrast to an official gauge of the non-manufacturing sector that showed the services sector expanded at the fastest clip since 2014 in September, blurring the picture on how a key part of the economy is performing.

India services activity contracts again in August on weak demand

August's Nikkei/IHS Markit Services Purchasing Managers' Index rose to 47.5, up from July's 45.9 but still below the 50 mark that separates expansion from contraction.

China services sector expands by most in three months in August: Caixin PMI

An official gauge of the non-manufacturing sector published last week also showed continued expansion in the services sector, though the pace was slower than in July, bolstering views that China's economy remains on solid footing.

Japan August services PMI shows expansion at weakest pace in six months

The Markit/Nikkei Japan Services Purchasing Managers Index (PMI) fell to a seasonally adjusted 51.6 from 52.0 in July.

FDI in services sector up 77.6% in 9 months of FY17

Foreign investments in the services sector increased 77.6 per cent to USD 7.55 billion in the first nine months of the current fiscal, helped by government steps to improve ease of doing business.

Services sector returns to growth after 3-month contraction

The services sector returned to the growth zone in February after three months of demonetisation- driven contraction but recovery was 'mild' and business confidence remained subdued, a monthly survey showed today.

India services activity grows for first time in 4 months: PMI

The Nikkei/IHS Markit Services Purchasing Managers' Index rose to 50.3 in February from 48.7 in January, marginally above the 50-mark that separates growth from contraction.

China Feb service sector growth slows to 4-month low: Caixin PMI

The findings echoed a similar softening in growth in China's official services activity survey released on Wednesday, and contrasted with an unexpected pick-up in growth in its manufacturing sector as export orders rebounded.