India's services sector experienced a slight moderation in growth during February, according to the HSBC India Services PMI Business Activity Index, with new order growth slowing and inflation picking up.
India's services sector growth rose to a two-month high of 58.5 in January, on faster expansion in new business intake and output, prompting service providers to hire additional staff, a monthly survey said on Wednesday.
India's services sector growth moderated in December, as the rates of expansion in incoming new work and output eased to the slowest in 11 months, and companies refrained from recruiting additional staff, a monthly survey said on Tuesday. The seasonally adjusted HSBC India Services PMI Business Activity Index fell from 59.8 in November to 58.0 in December, indicating the slowest rate of expansion since January.
The growth of India's services sector eased in September from the recent high in August, as new business and activity expanded at slower rates, according to a monthly survey released on Monday.
India's services sector growth witnessed the slowest pace of expansion in five months in October, as competitive pressures and heavy rains in parts of the country led to a slower increase in output, according to a monthly survey released on Thursday.
'India is often skipping legacy cycles and moving directly to advanced AI-driven operations.'
The services sector employs 188 million people but remains highly informal, trapping most workers in low-wage jobs without social protection.
Reliance Jio is aiming to be one of the first scalable token service providers in the world by deeply adopting and integrating artificial intelligence (AI) into its operations, said Jio Platforms group chief executive officer (CEO) Mathew Oommen at the Mobile World Congress in Barcelona.
A Jefferies report warns that the IT services sector is set for a structural shift due to AI, requiring talent and operating model overhauls and increasing cyclicality.
The India-US trade deal has offered a much-needed breather for the Indian information technology (IT) industry, which has been grappling with global macroeconomic uncertainty and subdued client spending over the past few years.
A BofA Global Research report indicates that Paytm is leading in monetisation compared to its competitors due to its diversified mix of merchant lending and financial services, which enhances profitability and strengthens its position in the Indian fintech market.
The Indian services sector growth touched a 15-year high in August, driven by a sharp rise in new orders and output, amid substantial improvement in demand conditions, a monthly survey said on Wednesday. The seasonally adjusted HSBC India Services PMI Business Activity Index was up from 60.5 in July to 62.9 in August, indicating the steepest rate of expansion since June 2010.
India's computer services exports have risen 30 per cent since the advent of ChatGPT in November 2022, even as overall services exports have plateaued, World Bank's South Asia Chief Economist Franziska Ohnsorge said, terming Artificial Intelligence (AI) and the conclusion of more trade agreements that can trigger a "manufacturing renaissance", as the two big investment opportunities for India in coming years.
The State Consumer Disputes Redressal Commission has directed Bank of India to compensate a senior citizen for losses incurred due to unauthorized ATM transactions, citing deficiency in service and failure to adhere to security protocols.
A new survey indicates that Indian employers are planning to increase hiring in the April-June quarter, driven by strong business confidence and domestic demand. The survey also highlights the impact of AI adoption on workforce strategy and the challenges of talent scarcity.
Chief Secretary Atal Dulloo emphasises the importance of holistic development and grassroots governance for India's progress at a national conference in Jammu.
Air India and Air India Express are introducing a fuel surcharge on domestic and international flights due to rising jet fuel prices, impacting travel costs for passengers.
In which area of Indian life are women not running the show?
IndiGo is adjusting its long-haul flight schedule, including suspending services to Copenhagen, due to airspace uncertainties and airport congestion. The airline will also reduce flights to London and Manchester.
India is a global leader in software development services, IT enabled services, knowledge process outsourcing services and contract R&D services relating to software development, Sitharaman said noting these business segments are quite inter-connected with each other.
GSM, which is potentially eyeing a Hong Kong listing and was recently valued at $20 billion, operates on a distinct model -- it owns the e-taxis and employs the drivers, while also supplying cars to independent drivers or fleet operators.
Chinese Foreign Minister Wang Yi has called on India and China to view each other as partners rather than rivals, emphasising the importance of cooperation for regional stability and development.
An Indian AI Research Organisation official says India has adopted a balanced and pragmatic approach to AI regulation, avoiding the extremes of the US and EU models.
India's rail modernisation drive has reached a critical milestone. With electrification reaching 99.2 per cent, Indian Railways is among the world's leading rail systems.
Bangladesh has suspended visa services in its high commission in New Delhi and its mission in Tripura following protests. The decision comes amid rising tensions and unrest in Bangladesh, with some protesters targeting India.
The United States has encouraged India to purchase Russian oil already at sea to mitigate supply shortages and price increases amid the West Asia conflict, according to Energy Secretary Chris Wright. This move is described as a short-term effort to stabilise the market without altering Washington's policy towards Russia.
Banking operations at public sector banks across the country were impacted on Tuesday as the United Forum of Bank Unions (UFBU) went on nationwide strike demanding the immediate implementation of a five-day work week.
The Indian services growth broadly steadied in May and was underpinned by healthy demand conditions, new client wins and greater staffing capacity, a monthly report said on Wednesday. The seasonally adjusted HSBC India Services PMI Business Activity Index was at 58.8 in May, marginally up from April's 58.7 and signalled another sharp rate of expansion.
Amidst escalating tensions with Iran, the US has granted India a temporary 30-day waiver to continue purchasing Russian oil, aiming to stabilise global energy markets and encourage future US oil imports by India.
Authorities have implemented heightened security measures at the Narendra Modi Stadium in Ahmedabad for the India-New Zealand T20 World Cup final, including increased police presence, anti-drone systems, and holding areas to prevent stampedes.
India's service sector activity accelerated slightly in April largely driven by a quicker increase in new order inflows, which also underpinned a faster expansion in employment, a monthly survey said on Tuesday. The seasonally adjusted HSBC India Services PMI Business Activity Index reached 58.7 in April, up from 58.5 in March, indicating a sharp and stronger expansion in service sector output.
Indian car buyers care more about affordability than technology, keeping ICE vehicles dominant while hybrids emerge as the preferred transition option and EVs struggle in the mass market.
Ahead of the T20 World Cup final, the Indian cricket team is leaving no stone unturned, from changing hotels due to perceived bad luck to considering a red soil pitch and planning a grand entertainment show featuring Ricky Martin.
Government schemes such as the PM E-Drive initiative, with allocations of around Rs 2,000 crore for charging points deployment, are helping accelerate rollout
A salute to the brave military dogs who have faced enemy fire and made the supreme sacrifice in the service to the nation.
Airbus has inaugurated a state-of-the-art technology centre in Bengaluru, India, significantly expanding its strategic presence and supporting its 'Make in India' mission.
India's services sector activity eased slightly in March, weighed down by a marginal slowdown in sales amid softer demand conditions and easing inflationary pressures, a monthly survey said on Friday. The seasonally adjusted HSBC India Services PMI Business Activity Index fell from February's reading of 59.0 to 58.5 in March, but remained above its long-run average of 54.2.
Base revisions are technical exercises, but history shows they can significantly reshape the narrative around India's growth performance.
IndiGo CEO Pieter Elbers has resigned three months after the airline experienced significant operational disruptions. Managing Director Rahul Bhatia will temporarily assume management responsibilities.
Ahmedabad police have announced comprehensive security measures for the India-New Zealand T20 World Cup final, including over 3,000 police personnel, home guards, and anti-drone systems.
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