New Delhi, July 3 (IANS) India’s services sector continued to expand in June, with the services PMI coming in at 57.4 amid softer domestic demand, according to the HSBC India Services PMI data released on Friday.The latest reading remained well above the neutral 50 mark, signalling continued growth in business activity, according to the PMI data.Companies also reported support from competitive pricing, stronger e-commerce demand, higher customer bookings and improved local tourism.However, the m…
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New Delhi, July 2 (IANS) The latest economic indicators released by the Union government continue to underline the resilience of the Indian economy despite global uncertainties. Strong GDP growth, expanding manufacturing and services activity, record vehicle sales, healthy GST collections and resilient exports indicate that domestic demand and investment remain robust.India’s economy grew by 7.7 per cent in FY 2025-26, reaffirming its position as the world’s fastest-growing major economy.Growth …
New Delhi, July 1 (IANS) India’s manufacturing PMI stood at 54.2 in June, signalling continued expansion in the sector, according to the HSBC Flash India PMI data released on Wednesday.The seasonally adjusted PMI remained comfortably above the 50-mark that separates expansion from contraction, indicating a sustained improvement in operating conditions across the manufacturing sector.According to the data, the HSBC India Manufacturing Purchasing Managers’ Index (PMI) came at 54.2, although the pa…
London/New Delhi, June 26 (IANS) Commerce and Industry Minister Piyush Goyal said on Friday that the India-UK Comprehensive Economic and Trade Agreement (CETA) will provide an opportunity to deepen investments, accelerate technology partnerships and build resilient supply chains, while creating an enabling environment for businesses in both countries to expand.During his visit to London, Goyal held a meeting with a delegation led by Nicola Grady-Smith, Chief Transformation Officer at Rolls-Royce…
New Delhi, June 24 (IANS) Union Commerce and Industry Minister Piyush Goyal will address the India Global Forum and lead a series of government-to-business engagements during his official visit to the United Kingdom from June 25-27, as India and the UK prepare to implement the landmark Comprehensive Economic and Trade Agreement (CETA) next month, it was announced on Wednesday. The visit comes ahead of the implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA) and the ac…
New Delhi, June 23 (IANS) Private sector activity eased a bit in June in India amid geo-political tensions, while overall new orders volumes continued to rise strongly this month, the Purchasing Managers’ Index (PMI) data showed on Tuesday.Growth of manufacturing output softened a tad as inventory-building lost steam after a few hectic months. June data indicated a slowdown in growth of demand for Indian goods and services, restricting the extent to which output levels were raised. Concurrently,…
New Delhi, June 19 (IANS) A cautious outlook from consulting firm Accenture has led to heightened selling in India’s information technology (IT) shares, and many mid-cap IT stocks have dipped further than 55 per cent correction seen in shares of Tata Consultancy Services.Tata Consultancy Services has tumbled nearly 55 per cent from its record high of Rs 4,592, while Wipro decreased 52 per cent, LTIMindtree declined 50 per cent and Infosys dipped 48 per cent from their respective peaks, a report …
New Delhi, June 9 (IANS) As the world economies begin to diversify in the challenging environment as part of their China+1 strategy, India, which has seen an average GDP growth between six and six-and-a-half per cent in the last 12 years, is cushioning itself by signing several trade deals with advanced economies, HSBC’s Chief India Economist Pranjul Bhandari said on Tuesday.Talking to IANS from Singapore, she said that India’s potential growth, at this point in time, lies in its ability to grow…
New Delhi, June 9 (IANS) A fair increase in fuel prices could still be on the table if global crude oil costs remain elevated and India’s import bill continues to strain oil companies, Pranjul Bhandari, Chief India Economist at HSBC said on Tuesday.In an exclusive interview with IANS, Bhandari noted that India’s landed cost of crude oil imports has recently been around $110 per barrel, a level she said is putting significant pressure on oil marketing companies.“The landed cost of oil impor…
Mumbai, June 7 (IANS) The largest urban redevelopment project in Asia at Dharavi in central Mumbai, being undertaken by the Adani Group, involves the rehabilitation of more than 1 million slum dwellers for whom 125,000 homes are being constructed.Dharavi, located in central Mumbai, is widely regarded as Asia’s largest slum. Spread over an area of around 600 acres, it houses more than a million people in a densely populated slum along with four large industries — pottery, food processing, leat…