New Delhi, March 17 (IANS) India’s services sector, now contributing about $2.2 trillion to gross domestic product (GDP), is expected to grow to about $6 trillion by 2035, implying a compound annual growth rate (CAGR) of about 10.6 per cent, a report said on Tuesday.The huge surge will increase services’ share of GDP to nearly 60 per cent while it currently accounts for about 55 per cent of GDP, the report from OmniScience Capital said.The report highlighted the growing dominance of India’…
Latest Business Services News & Updates
New Delhi, March 4 (IANS) India’s services sector continued to expand at a healthy pace in February, even as growth in new orders slowed amid rising competition, according to the latest data from the HSBC India Services PMI Business Activity Index.The Services Purchasing Managers’ Index (PMI) stood at 58.1 in February, slightly lower than the 58.5 recorded in January.A reading above 50 indicates expansion, which means the sector remained firmly in growth territory as the current financial ye…