The results stand in contrast to expectations for slowdown in India's economic growth to average 6.4% this fiscal year after an unexpectedly strong 7.4% expansion during Q1 of 2025.
According to the seasonally adjusted HSBC India Services, less than 2% of companies hired new staff, with the majority reporting no change in their workforce compared to June.
The HSBC India Manufacturing Purchasing Managers' Index (PMI) rose to 58.4 in June from 57.6 in May due to a rise in demand for new orders and growing exports, primarily to the US.
Report released Wednesday by HSBC India Services Purchasing Managers' Index highlighted service providers in India attribute strong performance to growth in demand & new business gains.
'Activity growth in India’s service sector accelerated in June... led by an increase in both domestic and international new orders,' noted an economist at HSBC.
The new orders sub-index, which tracks overall demand, rose last month and foreign demand expanded at a quicker rate from February. Output grew at the strongest pace since Dec.
With bad loans shrinking & capital buffers stronger, urban co-op banks’ new umbrella body NUCFDC is now prioritising rollout of digital transformation.
If deal goes through, Greece will be 2nd foreign country to procure vehicle. Morocco was first; TATA Group has set up manufacturing unit there with minimum 30 percent indigenous content.
Many of you might think I got something so wrong in National Interest pieces written this year. I might disagree! But some deserve a Mea Culpa. I’d deal with the most recent this week.
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