New Delhi, June 1 (IANS) India’s merchandise exports to Oman are officially targeted to grow by 50 per cent over the next three years, as the Comprehensive Economic Partnership Agreement (CEPA) with the Gulf nation came into force on Monday.The agreement aims to drive merchandise exports from the baseline of roughly $4.06 billion past the $6 billion mark, with a medium-term goal of reaching $10 billion.Oman has offered zero-duty access on 98.08 per cent of its tariff lines, covering 99.38 per ce…
Latest Services Sector News & Updates
New Delhi, May 31 (IANS) India-Oman Comprehensive Economic Partnership Agreement (CEPA) offering zero duty access to a range of Indian labour-intensive exports, will kick in from Monday.The Finance Ministry on Sunday issued notification on duty concessions on Omani goods under trade pact with India, which will come into effect from June 1.India and Oman signed the Comprehensive Economic Partnership Agreement (CEPA) in December last year during Prime Minister Narendra Modi’s visit to Muscat.Par…
New Delhi, May 24 (IANS) The first meeting of NITI Aayog’s high-powered ‘Education to Employment and Enterprise’ Standing Committee has decided to identify actionable recommendations to enhance employability, foster entrepreneurship, strengthen industry-relevant skilling, and accelerate growth in the services sector, according to an official statement issued on Sunday.The meeting concluded with a shared commitment to transform India’s demographic dividend into a growth dividend, enhance co…
New Delhi, May 22 (IANS) India’s economic activity exhibited resilience in April, with industrial and services sectors maintaining strength across several segments even as the global economy continued to be shadowed by uncertainties in West Asia, according to the RBI’s monthly bulletin released on Friday.Industrial and services activity stayed strong in many segments. Early results of listed private non-financial companies for Q4:2025-26 also showed an improvement in business performance ove…
New Delhi, May 21 (IANS) Number of establishments and overall employment in India’s unincorporated non‑agricultural sector recorded strong growth in the Q1 CY26, with jobs in the sector touching 15.17 crore, up 15.51 per cent year‑on‑year, an official statement said on Thursday.The quarterly bulletin from the National Statistics Office estimated that the number of unincorporated establishments grew 16.69 per cent year‑on‑year to 9.16 crore.The rural sector emerged as the primary driv…
New Delhi, May 6 (IANS) India’s services sector activity strengthened in April, with the Purchasing Managers’ Index (PMI) rising to a five-month high of 58.8, because of robust domestic demand and increased business activity, the HSBC India Services PMI data showed on Wednesday.The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 57.5 in March to 58.8 in April, which is the strongest pace of expansion since November.Moreover, new business inflows also grew at the f…
New Delhi, May 5 (IANS) Reflecting strong economic activity and credit demand. scheduled commercial banks (SCBs) registered robust credit growth of 15.9 per cent in FY 2025-26, the government said on Tuesday.FY26 ended with robust non-food credit growth of 15.9 per cent, marking a significant 497 basis points (bps) increase in growth from the corresponding period in FY25 (10.9 per cent). The aggregate credit outstanding in March 2026 reached Rs 212.9 lakh crore, Rs 29.2 lakh crore higher than th…
New Delhi, April 27 (IANS) The government on Monday proposed to use aggregated GST data to monitor services sector and boost ability to assess overall economic performance.Unlike the Index of Industrial Production (IIP), there is currently no Index of Service Production (ISP) to capture short‑term movements in the services sector.Ministry of Statistics & Programme Implementation does not require or seek access to individual unit‑level returns for this data compilation.A Technical Advisor…
New Delhi, April 23 (IANS) Gross FDI (equity) flows to India accelerated to $90.8 billion (2.3 per cent of GDP) in January 2026 on a on a 12-month trailing basis, up by a healthy 13 per cent from $80.3 billion in January 2025 (2.1 per cent of GDP), a Morgan Stanley report showed on Thursday.Gross FDI (ex repatriation) improved to a three-year high of $36.3 billion in January 26, rising 38.4 per cent on-year. The trend in gross FDI has recovered steadily since January 2024, underpinned by strong …
New Delhi, April 19 (IANS) India’s banking sector remained resilient, supported by improved asset quality, strengthening capital buffers, robust retail and SME credit momentum, and early signs of revival in private capital expenditure, a survey showed on Sunday.The survey from FICCI and Indian Bank Association (IBA) said the banking sector maintains a broadly constructive outlook on credit growth over the near term, supported by improving balance sheets, steady economic activity, and sustained…