services sector

August 14, 2026 6:42 PM

NITI Aayog releases report on regulatory framework governing India’s professional services sector

NITI Aayog has released a report assessing India’s regulatory framework for professional services and benchmarking it against select foreign jurisdictions, with the aim of identifying challenges and policy measures to strengthen the sector and unlock the potential of India’s skilled workforce. The report, titled “India’s Services Sector: Insights on Regulatory Regime in Professional Services”, was launched on August 10 by NITI Aayog Vice Chairman Ashok Kumar Lahiri at a meeting of the...

November 6, 2025 12:12 PM

India’s services sector growth moderates in October, price pressures ease: HSBC PMI

India's services sector continued to expand in October, though the pace of growth eased to a five-month low, according to the HSBC India Services Purchasing Managers' Index (PMI) released on Thursday. The index fell to 58.9 in October from 60.9 in September, remaining well above the neutral mark of 50 that separates growth from contraction. The report, compiled by S&P Global, said that while demand buoyancy and the recent GST reforms boosted business activity, competitive pressures and hea...

October 28, 2025 3:17 PM

India’s services-led growth becoming more balanced, inclusive: NITI Aayog report

NITI Aayog on Tuesday released two inaugural reports under its Services Thematic Series, offering a comprehensive assessment of India’s services sector from the perspective of both output and employment. The reports — “India’s Services Sector: Insights from GVA Trends and State-Level Dynamics” and “India’s Services Sector: Insights from Employment Trends and State-Level Dynamics” — were launched by NITI Aayog CEO B.V.R. Subrahmanyam. According to NITI Aayog, these reports rep...

October 6, 2025 2:08 PM

India’s services growth eases in September, PMI at 60.9

India’s services sector activity remained robust in September, with the HSBC India Services Purchasing Managers’ Index (PMI) registering 60.9, according to data released by S&P Global on Monday. Pranjul Bhandari, Chief India Economist at HSBC, said while the reading was slightly lower than August’s recent high, “most trackers moderated, but nothing in the survey suggested a big loss in growth momentum in services.” She noted that the Future Activity Index rose to its highest level...

July 11, 2025 1:06 PM

India’s economic growth on track despite global challenges: report

India’s economic growth continues to remain on track despite global uncertainties, supported by improvements in key high-frequency indicators in both the services and manufacturing sectors, according to a report by Bank of Baroda released on Friday. The report notes that consumption has gained momentum in the first quarter (Q1) of FY26 compared to the previous quarter. Higher steel consumption, a rise in electronic imports, and increased central government revenue expenditure have contributed...

May 28, 2025 1:25 AM

India records $81.04 billion FDI inflow in FY 2024–25, services sector leads with 40% growth

India attracted a record USD 81.04 billion in foreign direct investment (FDI) in the fiscal year 2024–25, up 14% from the previous year, driven by a liberalized policy regime and strong inflows into the services and manufacturing sectors, the Ministry of Commerce & Industry said on Tuesday. The services sector emerged as the top recipient of FDI equity in FY 2024–25, attracting 19% of total inflows, followed by computer software and hardware (16%) and trading (8%). FDI into the services...

March 5, 2025 2:33 PM

India’s services sector expands rapidly in February amid strong demand

India’s services sector witnessed accelerated growth in February, driven by rising domestic and international demand, an uptick in new business orders, and strong employment trends, according to the latest HSBC India Services PMI. The Purchasing Managers’ Index (PMI) for services rose to 59.0, up from January’s 26-month low of 56.5, signaling robust expansion in business activity. The increase in services output remained well above the long-run average, supported by higher productivity an...

January 6, 2025 4:15 PM

India’s services sector growth surges to 4-month high in Dec: report

India’s services sector growth reached a four-month high in December, driven by robust demand that boosted business activity and supported strong job creation, according to a survey released on Monday. The HSBC India Services Purchasing Managers' Index, compiled by S&P Global, rose to 59.3 in December from 58.4 in November, marking the highest level since August. Companies attributed strong underlying demand as the primary driver of output growth in the services sector. In some instances...

December 4, 2024 3:27 PM

India’s services sector employment grew at fastest pace since 2005

India's service sector maintained its strong momentum in November 2024, with employment in the sector achieving its highest growth rate since the survey's inception in 2005. Pranjul Bhandari, Chief India Economist at HSBC, said "During November, services sector employment notably grew at the fastest pace ever recorded since this survey began in 2005. The hiring surge reflected the sector's improving business confidence, growing new orders, and vigorous international demand. At the same time, hi...