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 Post has launched three premium delivery services, including 24-hour and 48-hour delivery options, to compete with private courier companies and capitalise on the growing e-commerce market.
'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.
A consumer commission in Nagpur, Maharashtra, has penalised Axis Bank for deficiency in service, ordering a refund and compensation to a customer over a failed ATM transaction from 2018.
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.
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.
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.
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.
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.
Vikram Doraiswami, a seasoned diplomat, has been appointed as India's new ambassador to China, succeeding Pradeep Kumar Rawat. This decision comes as both countries attempt to improve bilateral relations following a period of strain.
Global cybersecurity firm Kaspersky plans to significantly increase its investments in India, leveraging the country as a hub for regional services due to strong financial performance and the escalating threat landscape.
India has launched its first integrated phygital service centre in Umri village, Madhya Pradesh, aiming to provide online services and boost rural development through digital connectivity and various essential services.
China has welcomed the appointment of Vikram Doraiswami as the new Indian Ambassador, expressing optimism for improved Sino-India relations. Doraiswami, a seasoned diplomat with experience in China, is expected to play a key role in managing complex bilateral issues and fostering cooperation.
India's digital economy is projected to constitute nearly 20 per cent of the nation's GDP by 2030, fuelled by a growth rate twice as fast as the overall economy, according to a senior government official.
Border trade between India and China through the Lipulekh Pass in Uttarakhand's Pithoragarh district is set to resume this year after a six-year hiatus due to the COVID-19 pandemic.
The Ministry of External Affairs (MEA) has confirmed the deaths of six Indian nationals and one missing person amidst the escalating conflict in West Asia, detailing ongoing efforts for repatriation and diplomatic engagement.
Cognizant's Chief AI Officer, Babak Hodjat, highlights India's unique position in AI enablement due to its strong technology foundation and large pool of digitally skilled people. He emphasises the continued importance of developers in the age of AI and Cognizant's focus on becoming an 'AI builder' company.
Cognizant's Chief AI Officer, Babak Hodjat, discusses India's unique position in AI enablement due to its strong technology foundation and skilled workforce, emphasising the continued importance of developers in the age of AI-generated code.
An Air India flight bound for Vancouver returned to Delhi after being airborne for seven hours due to an aircraft approval error. The Boeing 777-200 LR was not approved for the route, leading to the flight's return and subsequent rescheduling.
Less than half of all graduates were employed, with 48.8 per cent reporting some form of work.
A new US intelligence report warns that India and Pakistan's relations remain at risk for nuclear conflict, fueled by terrorism and escalating tensions in the region.
There is record underperformance and under-ownership. Some of this is cyclical and will turn on its own. However, we also need to regain our growth credentials. For this, both the government and companies have a role to play, as do investors, points out Akash Prakash.
Congress leader Shashi Tharoor is urging the Indian government to take a more proactive role in mediating the escalating conflict between the US-Israel alliance and Iran, emphasising the impact on India's energy security and regional stability.
Indian security agencies have arrested seven foreign nationals, including a US security analyst and six Ukrainians, for allegedly entering India illegally from Myanmar and suspected of training insurgent groups. The arrests have raised concerns about security vulnerabilities along the India-Myanmar border and triggered diplomatic friction.
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.
The United States Trade Representative (USTR) office on Wednesday launched a sweeping investigation into manufacturing and industrial practices in 16 economies, including India, citing concerns over what it calls 'structural excess capacity' that could distort global trade. Announcing the move on a White House press call, Jamieson Greer said the probe would be conducted under Section 301 of the Trade Act of 1974, one of Washington, DC's most powerful trade enforcement tools.
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.
Artificial intelligence (AI) is emerging as a potential new demand driver for India's office market, with AI-focused technology (tech) firms actively leasing new office space and established information technology (IT) companies expanding their footprint as they ramp up investments in AI.
India addresses the escalating conflict in West Asia, outlining its diplomatic efforts to ensure energy security, the safety of its citizens, and advocating for a peaceful resolution through dialogue.
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.
Security agencies in India are investigating a potential conspiracy involving arrested foreigners, including a US mercenary, who allegedly aimed to exploit Indian ethnic groups to undermine national security. The investigation involves data extraction from mobile phones and scrutiny of social media accounts to uncover the full extent of the plot and identify all involved parties.
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