Services Sector
Latest news, explainers and analysis on Services Sector. Tracking 3 stories on Arth Vani.
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Latest on Services Sector
India Services Sector Activity Hits 3-Month High in September on Demand Surge
India's services sector experienced robust growth in September, with the HSBC India Services Business Activity Index rising to a three-month high of 55.2. This increase from 54.1 in August signals strong demand and expansion in economic activity. A reading above 50 indicates growth, reflecting a positive trend for the Indian economy.
India to Broaden Services Production Index, Adding Education & Health Data
The Indian statistics ministry plans to expand its monthly Index of Services Production to include education, healthcare, public administration, and defence. This move will significantly increase the index's coverage from about 60% to 78.4% of India's services Gross Value Added (GVA). The expanded framework aims to use UPI transaction data for private education and healthcare, alongside government expenditure data for public services.
Indian Services Sector Sees Broad Growth in May, Eight Sectors Up Double-Digits
India's formal services sector showed widespread growth in May, with eight out of ten sectors achieving double-digit expansion, according to the second trial release of the Index of Services Production. This new monthly index provides crucial insights for policymakers and investors into the economy's largest sector.
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