Services Sector

India to launch headline services output index within months: Govt

The proposed index will provide India's first official monthly measure of output across the services sector, complementing existing manufacturing indicators

Monitoring measures: New services index will help gauge activity over time

Earlier attempts to construct a services production index were constrained by the absence of reliable monthly data

Hospitality leads as MoSPI unveils India's first services production index

India's first trial Index of Services Production covers 19 sectors accounting for nearly 60 per cent of services output, with accommodation and food services leading April growth

Mospi to launch India's first monthly services output index on July 14

The new monthly indicator will track short-term changes in services-sector output and serve as the counterpart to the Index of Industrial Production

Decoding Economic Survey 2025-26: Five ideas that explain India's economy

Behind dense language, the Economic Survey 2025-26 lays out five clear arguments on growth, risk, manufacturing, governance and why stability now matters as much as speed

India-New Zealand FTA to open new doors for skilled professionals: Diaspora

Provisions related to the services sector in the India-New Zealand Free Trade Agreement (FTA) will open up significant opportunities for highly skilled Indian professionals in areas such as information technology, designers, engineering, manufacturing, education and healthcare, members of the Indian diaspora in Auckland said. Negotiations for the FTA have been concluded and after completion of domestic approvals, it is expected to be implemented from next year. The trade deal will give India tariff-free access to the island nation's markets, bring in USD 20 billion of investment over the next 15 years and will give India more temporary employment visas, easier access for pharmaceuticals and medical devices. Auckland-based computer engineer Rani Singh said the pact is a timely move, especially for the technology and services sector. "While trade agreements are often discussed in terms of goods, this one feels particularly relevant to professionals like me because of its focus on ...

India-New Zealand trade deal finalised: Which sectors are set to gain?

The deal includes sweeping tariff cuts, expanded services access, enhanced labour mobility and a long-term investment commitment

India consolidating role as global services exporter; EU, China lag: KKR

While Europe doesn't have a strong system for offering financial services, China needs a stronger domestic services industry to create jobs and help its economy move out of deflation

India Services PMI hits 11-month high in July on strong export demand

Composite PMI Output Index rose to 61.1 in July from 61.0 in June, its fastest pace since April 2024; but hiring growth weakens

Bank credit growth slows to 6.7% in first half of April, shows RBI data

Bank credit growth slowed to 6.7% in April, with faster growth in metals and textiles but slower in infrastructure and agriculture. RBI data highlights changes in services and personal loans credit

Trump tariffs: Here's why US President ignoring services is a small mercy

Services account for more than one-fifth of global export earnings and show little sign of slowing down. The US runs a surplus in this arena, which could account for Washington's lack of attention

Softer increase in services sector activity slows flash PMI in March

The index compiled by S&P Global fell to 58.6 in March from February's final reading of 58.8

India's services sector growth improves to 59 in Feb; overall PMI 58.8

Services sectors saw one of the sharpest increases in employment since records began in December 2005

Services sector growth pushes India's private sector output to 6-month high

The survey noted that companies operating across India's private sector economy continued to see improved international demand for their goods and services

Sectoral growth, tech to power India's $23-35 trn 'Economic Vision': Report

By 2047, the services sector is expected to contribute 60 per cent of India's GDP, while manufacturing will account for 32 per cent

As demand slows, PMI services growth hits a ten-month low in September

For more than three years, the index has stayed above the 50-mark separating expansion from contraction

Slowdown in business activity pulls flash PMI to its lowest levels in 2024

The rise in employment in the service sector was the steepest since August 2022

Govt aims to make India attractive for manufacturing, services: Sitharaman

Union Finance Minister Nirmala Sitharaman on Saturday said the Centre has tailored policies to make India an attractive destination for manufacturing and services, and the aim was to produce not just for the domestic market but for exports as well. She was responding to a query on American tech billionaire Elon Musk postponing his meeting with Prime Minister Narendra Modi. "Policies have been made to attract investments. We want manufacturers and investors to come and produce not just for India but also for exports. We will try to attract manufacturers and investors through policies," she told reporters. Tesla CEO Musk on Saturday said his visit to India has been delayed due to the company's heavy obligations. "When big companies show interest to come to India, we will do everything to make it attractive for them to come and invest. In that process, if there is anything to discuss, we will certainly discuss. But whatever we have done, we have done it through policy," Sitharaman ...

US services sector gauge picks up in Nov on improved business activity

The business activity index, which parallels ISM's factory output gauge, climbed in November after posting the biggest drop this year in the prior month

China's factory and services activity shrinks in sign of recovery woes

The official manufacturing purchasing managers index fell to 49.4, the second straight month of contraction, according to a Thursday statement from the National Bureau of Statistics