Business Standard

service sector

168 million workforce added since FY18, 46.6 million in FY24: RBI data

RBI data shows services sector absorbing those moving out of agriculture

168 million workforce added since FY18, 46.6 million in FY24: RBI data
Updated On : 08 Jul 2024 | 11:14 PM IST

Slowdown in growth in new orders, output drags services PMI in Feb to 60.6

The survey polled around 400 companies in transport, information, communication, finance, insurance, real estate, non-retail consumer and business services

Slowdown in growth in new orders, output drags services PMI in Feb to 60.6
Updated On : 05 Mar 2024 | 11:42 PM IST

Mizoram registers 13.5% GSDP growth in FY 2022-23 driven by service sector

Mizoram has registered a 13.5 per cent Gross State Domestic Product (GSDP) growth in the 2022-23 financial year, according to an economic survey. The Mizoram Economic Survey 2023-24 also stated that the service sector continued to drive the state's economy, contributing to over 45 per cent of the Gross State Value Added (GSVA) in the 2022-23 fiscal. The economic survey, presented by Chief Minister Lalduhoma in the assembly on Thursday, said that the state's economy grew over the years, barring the pandemic period. The GSDP at constant prices (2011-12), which is the true indicator of growth without being influenced by factors such as inflation, is expected to grow to Rs 21,000.56 crore in the 2022-23 fiscal against the estimate of Rs 18,493.72 crore for the 2021-2022 fiscal, registering a growth of about 13.55 per cent over the previous year, the survey stated. Whereas the GSDP at current prices registered an increase of 17.99 per cent over the previous year, it said. The GSDP at .

Mizoram registers 13.5% GSDP growth in FY 2022-23 driven by service sector
Updated On : 29 Feb 2024 | 5:50 PM IST

IT industry to grow 3.8% in FY24 to cross $250 billion, says Nasscom

FY24 growth coming at a slower pace, from a growth rate of 8.4% last year

IT industry to grow 3.8% in FY24 to cross $250 billion, says Nasscom
Updated On : 16 Feb 2024 | 11:12 PM IST

Manufacture or service: Must we choose?

This debate is futile in India's development journey

Manufacture or service: Must we choose?
Updated On : 15 Feb 2024 | 9:36 PM IST

Targeting 20% revenues from non-lounge services in 5 years: DreamFolks CMD

The company currently earns 99% of its revenues from providing technology solutions connecting banks (and their debit and credit cards) with airport lounges

Targeting 20% revenues from non-lounge services in 5 years: DreamFolks CMD
Updated On : 18 Dec 2023 | 10:45 PM IST

India's services PMI falls to 56.9 in November, lowest in 2023 so far

S&P Global said that the slowdown in services PMI was mainly owing to a slowdown in new orders as well as output across sectors

India's services PMI falls to 56.9 in November, lowest in 2023 so far
Updated On : 05 Dec 2023 | 11:09 AM IST

5G FWA device prices in India now below global average: Thiaw Seng NG

'Middle eastern markets show 5G FWA based home broadband can thrive even after fiber network penetration rises'

5G FWA device prices in India now below global average: Thiaw Seng NG
Updated On : 02 Nov 2023 | 11:38 PM IST

India's September services PMI hits 61 on positive demand environment

September's expansion in output was associated with effective marketing, favourable demand conditions and strong influxes of new business

India's September services PMI hits 61 on positive demand environment
Updated On : 05 Oct 2023 | 10:56 AM IST

US business activity growth slows to a five-month low as services soften

Monday's tepid survey data supported evidence that the US economy was still growing as the third quarter began, but at a slower rate from the April-through-June period

US business activity growth slows to a five-month low as services soften
Updated On : 24 Jul 2023 | 8:26 PM IST

Services PMI growth declines to three-month low of 58.5 as inflation weighs

The headline figure has been expanding for 23 months on the trot since August 2021

Services PMI growth declines to three-month low of 58.5 as inflation weighs
Updated On : 05 Jul 2023 | 2:12 PM IST

India's services PMI falls to 58.5 in June, lowest in three months

Combined with manufacturing, output prices across the private sector increased at the sharpest pace in over a decade

India's services PMI falls to 58.5 in June, lowest in three months
Updated On : 05 Jul 2023 | 10:44 AM IST

'In-country renewal of H-1B visas by US to boost India's services exports'

The US announcement to introduce in-country renewable of H-1B visas will help swift movement of Indian IT professionals and promote services exports, SEPC said on Wednesday. Services Export Promotion Council (SEPC) said that the decision would allow easier on-site client engagement by domestic IT professionals. "When Indian IT professionals can quickly travel to client locations abroad, they can better understand client requirements, build stronger relationships, and deliver tailored solutions. This direct engagement can lead to increased client satisfaction, repeat business, and ultimately, higher IT exports," SEPC Chairman Sunil H Talati said. He said that as the US is the major market for India's IT exports, this development will have a significant positive impact on the export of IT services from India. "The earlier estimates for IT exports growth have been in the range of 8-12 per cent however with this particular push the exports growth in IT can further stride in the range o

'In-country renewal of H-1B visas by US to boost India's services exports'
Updated On : 28 Jun 2023 | 11:48 AM IST

India Inc offers higher stipends to apprentices, shows TeamLease report

TeamLease on Tuesday released its 'Stipend Primer Report' for FY22, which suggests that a 2% increase was witnessed in 2022 in average stipend payouts, as against the previous fiscal

India Inc offers higher stipends to apprentices, shows TeamLease report
Updated On : 16 May 2023 | 7:04 PM IST

April services activity hits near 13-year high as inflation accelerates

Finance and insurance record strongest increase in output, says S&P Global's PMI survey

April services activity hits near 13-year high as inflation accelerates
Updated On : 03 May 2023 | 11:10 AM IST

India's services PMI rises for 20th consecutive month but lower than Feb

In February, the service sector PMI was at a 12-year high of 59.4

India's services PMI rises for 20th consecutive month but lower than Feb
Updated On : 05 Apr 2023 | 11:07 AM IST

Hiring intent for manufacturing, services sector up 10% in Q1FY24: Report

Even as there is an ongoing global turmoil, hiring intentions in services and manufacturing sectors for the first quarter of 2023-24 are 10 per cent more than the year-ago period, a report said on Tuesday. According to the TeamLease Services' 'Employment Outlook Report' for the Services and Manufacturing sectors for Q1, FY24, despite the ongoing global turmoil, hiring intent in India has steadily increased over the past year. In comparison to the same quarter in the previous year (April-June 2022-23), hiring intentions in the services and manufacturing sector in the first quarter of FY24 is 10 per cent higher as close to 64 per cent of employers the employers interviewed said they are keen to increase their resource pool across industries. However, compared to the fourth quarter of FY23, the hiring outlook has witnessed a dip of 4 per cent. The TeamLease Employment Outlook Report for the Services and Manufacturing sectors is based on a survey of 809 small, medium and large companie

Hiring intent for manufacturing, services sector up 10% in Q1FY24: Report
Updated On : 28 Mar 2023 | 8:33 PM IST

India's export cushion

Rising services surplus is likely to offset the goods trade deficit in the short and medium term

India's export cushion
Updated On : 15 Mar 2023 | 10:17 PM IST

Service sector continues to drive Mizoram's economy with 50% share in GSVA

The tertiary or service sector continues to drive Mizoram's economy with a lion's share of 50.08 per cent of the Gross State Value Added (GSVA) being contributed by the sector, according to the Economic Survey of Mizoram 2022-2023. The Economic Survey presented by Chief Minister Zoramthanga in the Assembly on Tuesday said that the Gross State Domestic Product (GSDP) has been continuously growing over the years at an impressive rate. The GSDP at constant prices (2011-12) is expected to attain an amount of Rs. 19,036.83 crore in 2021-22 against the estimate of Rs 16,969.85 crore for the year 2020-21 showing a growth of about 12.18 per cent over the previous year. Whereas the GSDP at current price registered an increase of 15.25 per cent over the previous year, it said. The GSDP at current price is estimated at Rs 28,480.10 crore in 2021-22 as against Rs 24,712.26 crore in 2020-21. The GSVA at constant (2011-12) prices has clocked a 9.43 per cent average annual growth rate during ...

Service sector continues to drive Mizoram's economy with 50% share in GSVA
Updated On : 21 Feb 2023 | 6:32 PM IST

China's services activity shrinks in Dec as surging Covid cases hit demand

The Caixin/S&P Global services PMI rose to 48.0 in December from 46.7 in November, but remained below the 50-point mark, which indicates contraction in activity, for a fourth straight month

China's services activity shrinks in Dec as surging Covid cases hit demand
Updated On : 05 Jan 2023 | 11:22 AM IST