SERVICES SECTOR GROWTH INDIA
China Services PMI slows to three-month low; what lies ahead for Chinese stocks?
China’s services sector expanded at its slowest pace in three months as rising costs and intense competition squeezed margins. The weaker PMI and declining business confidence may weigh on Chinese equities, although sustained growth in export orders offers some support.
India's services growth accelerates to 55.8 in October, cost pressures ease to six-year low
India's services sector activity expanded at its fastest pace in four months in October, with the HSBC India Services Purchasing Managers' Index (PMI) rising to 55.8 from 55.2 in September, while input cost inflation eased to its lowest level in more than six years, according to data released by S&P Global on Wednesday.
IT firms turn to acquisitions to boost revenue growth
The contribution rose to $147-148 million in the July-September period, reflecting a full quarter of consolidation. The acquisition has therefore become a significant part of the firm’s reported revenue base.
Airbus wants more 'Made in India' aircraft parts: From titanium to complex assemblies, here's what company plans to source next
Airbus plans to increase its annual sourcing of components and services from India to USD 2 billion before 2030, up from the current USD 1.6 billion. India head Jurgen Westermeier called the country a "very important market" and stressed the need to strengthen local manufacturing, MRO infrastructure and aviation training as the country's aircraft fleet expands.
India gains as global investors move away from AI-linked stocks: Goldman Sachs
Indian equities outperformed the Asia-Pacific region in the MXAPJ index by 7 percentage points last month, making the country one of the best-performing global markets during the period. Goldman Sachs said the recovery was due to a rotation in global portfolios away from north Asian markets, which have greater exposure to AI -linked stocks.
Corporate India's white-collar hiring rises 14% in October, led by manufacturing
Corporate India's white-collar hiring showed a 14% increase in October compared to the previous year. Notably, production and manufacturing roles experienced a significant growth of 39%. The demand for AI/ML skills also remained strong, leading to a 32% increase in hiring. Various sectors such as automobiles and BPO/ITeS witnessed substantial hiring increases as well. Overall, metropolitan areas like Hyderabad and Pune led in job growth during this period.
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Logistics links, shipping services emerge as key drivers for India's maritime growth: Report
India’s next phase of maritime growth will depend on improving logistics, inland connectivity and shipping services rather than simply expanding port capacity, according to a Ficci-Kearney report. Cargo handled at major and non-major ports rose 38% between FY18 and FY26, outpacing the 22% increase in capacity, while delays in moving goods after export approval account for 84% of measured export time.
Blackstone president says more tech sector fundraising ahead to keep up with AI industry growth
Blackstone President Jon Gray said on Tuesday there would be more global equity fundraising needed to keep up with the enormous likely demand from the AI industry's growth.
Manufacturing activity eases in Oct as new order growth drops
Manufacturing activity in India experienced a slowdown in October, decreasing from the previous month's growth. Despite this, the sector remained above its long-run average due to stronger international demand. A survey indicated that nearly 18% of manufacturers anticipated increased output over the next year, supported by fresh client inquiries.
FM Sitharaman acknowledges foreign investor anxiety, says she will consider voices seeking tax changes before Budget
Union Finance Minister Nirmala Sitharaman acknowledged concerns from investors regarding potential tax changes to support equity markets. She emphasized that while taxation is vital, India's economic indicators remain robust and positive. Sitharaman highlighted the necessity for capital expenditure to sustain economic growth and fiscal prudence. On welfare, she noted significant improvements in access to essential services contributing to decreased poverty levels.
Capex key to India's growth strategy, fiscal prudence remains top priority: Sitharaman at HSBC event
Finance Minister Nirmala Sitharaman highlighted the importance of capital expenditure in driving economic growth in India. She stated that government spending would be guided by fiscal discipline while encouraging private sector investment. Sitharaman noted that higher public investment has historically generated strong economic returns over time. She reassured that the Indian economy remains robust, with no sign of fragility.
India's economic pillars show 'no fragility', says Finance Minister Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman highlighted the government's commitment to increasing capital expenditure to promote economic growth. She remarked on the importance of fiscal prudence while implementing spending strategies effectively. Sitharaman emphasized the need for public investment to enhance welfare programs and improve access to essential services. The government aims to provide comprehensive insurance coverage by 2047 to foster financial inclusion.
India-New Zealand FTA: Expanding India’s footprint in Oceania
More than a trade deal, the India-New Zealand FTA is a strategic gateway to new markets, fresh investment and stronger capabilities, positioning India to compete, connect, and grow across the Asia-Pacific.
Ascentium eyes India acquisitions to build Asia-focused global services platform
Singapore-headquartered Ascentium is looking to expand its India presence through acquisitions as it builds an Asia-focused global corporate services business. Backed by Hillhouse Investment, the firm has completed seven acquisitions in India since 2019 and is negotiating another, with plans to consolidate specialist firms and challenge established players in the market.
L&T pushes IT and engineering arms to accelerate growth beyond 15%
Larsen and Toubro is focusing on raising revenue growth in its services arms, LTM and LTTS. Currently, these companies grow at about 10-11 percent per year, which needs to increase. The management highlighted the importance of scaling up their services and accessing new markets. The recent AI-led disruption may help achieve this growth by leveling the playing field among competitors.
CCI clears Prosus' proposal to acquire stake in Sachin Bansal-led Navi
Competition Commission of India has approved Prosus' acquisition of a stake in Navi Ltd. This move aims to enhance Prosus' position in India's digital financial services market. MIH Payments Holdings BV, part of Prosus, will acquire certain shareholding in the fintech firm. Navi Ltd provides various financial services, including loans, insurance, and digital payments. This investment marks a significant milestone in Navi's growth after securing USD 100 million from Prosus.
CCI clears five major deals across food, energy, fintech and telecom sectors
CCI has granted approval for five significant business transactions in sectors like food services and renewable energy. The merger of Sapphire Foods India Limited with Devyani International Limited aims to combine their restaurant operations in India. Aditya Birla Renewables Limited is set to acquire Solenergi Power Private Limited from Shell for approximately Rs 17,200 crore. In financial services, Prosus N.V.
Bank lending rises as corporate bond fundraising falls amid higher yields: Finance Ministry
Bank lending witnessed a significant surge during April-August FY27, contributing to financial resources for businesses. Non-food bank credit rose to Rs 9.8 lakh crore, indicating strong lending activity across major sectors. In contrast, corporate bond issuances fell sharply amid rising bond yields, highlighting a shift in funding trends. Overall bank credit growth registered an increase of 21.6 percent, supported by strong demand across various industries.
India can achieve $1 trillion exports target this fiscal despite global headwinds: Piyush Goyal
Commerce Minister Piyush Goyal expressed confidence that India would achieve its $1 trillion exports target in 2026-27 despite global uncertainties. He said nine FTAs could open preferential market access to economies with a combined GDP of $60 trillion. Goods and services exports were estimated at $476.2 billion in April-September.
Bank loans against fixed deposits surge 53% to Rs 2.17 lakh crore on FCNR-B leverage play
By the close of September, loans against fixed deposits experienced a striking 53% year-on-year spike, reaching Rs 2.17 lakh crore. The demand for gold loans soared to an astonishing 82.6% increase, showcasing robust customer interest throughout India. Personal loans appreciated by 17.3%, hitting Rs 74.3 lakh crore, complemented by growth in agricultural and industrial credits. Overall, the banking sector reported a 19.4% expansion in total credit, amounting to Rs 229.
NSIC presents Rs 47.76 crore dividend for FY 2025-26; highlights strong financial performance
NSIC Chairman-cum-Managing Director Subhransu Sekhar Acharya presented a dividend of ₹47.76 crore to Union Ministers. Acharya highlighted NSIC's strong financial performance, including a revenue of ₹3,767 crore and Profit After Tax of ₹159 crore. The Union Minister of MSME praised NSIC's role in empowering MSMEs and supporting government initiatives. Discussions on improving MSME partnerships with the Netherlands were also mentioned by Union Commerce Minister Piyush Goyal.
Executive search defies broader job market uncertainty
India's executive search firms are reporting strong growth despite layoffs, AI-driven disruptions and global economic uncertainty. Leading firms have recorded business growth of 15-25% in the first half of the financial year, driven by demand for senior leaders across manufacturing, infrastructure, power, energy and global capability centres (GCCs). Companies are investing in experienced executives who can manage large projects, navigate technological change and improve business performance.
India's services economy stays resilient as 17 sectors post growth
India's services sector recorded widespread growth in August, with 17 of the 19 tracked segments expanding and 13 registering double-digit gains, according to the trial Index of Service Production (ISP). Retail trade led the expansion with 19.9% year-on-year growth, followed by repair services and real estate at 17.6% each. Banking, insurance and IT services also reported strong growth, while CareEdge Ratings estimated overall services output rose 14%.
First-time investors turn to India's hospitality sector for diversified income and long-term growth
India is witnessing a rise in first-time hotel owners, with entrepreneurs, real estate developers, industrial families and landowners entering the hospitality sector. Nearly seven in 10 branded hotel keys signed this year are outside Tier 1 cities, according to Noesis Hotel Advisors. Industry executives say growing domestic travel, better connectivity and demand from leisure, business, weddings and pilgrimage are creating opportunities for new investors.
IMF flags Super El Niño risks to India’s growth, says impact yet to materialise
According to the IMF, India continues to act as a significant growth engine within the global economy. Despite looming threats posed by weather phenomena like Super El Nino, these risks have yet to materialize. Recent adjustments have raised growth forecasts to 7 percent for the fiscal years 2027 and 2028, reflecting robust domestic demand and a thriving service sector.
India's banking sector poised for double-digit credit growth despite macroeconomic challenges
India's banking sector exhibits confidence in achieving sustained double-digit credit growth across various segments. Demand for retail and SME lending is primarily driving this credit growth, according to the FICCI-IBA Bankers' Survey. Respondents show optimism about the emerging revival in private-sector capital expenditure and improved asset quality. A significant majority anticipates that both retail loans and SME credit will continue to grow robustly.
IT firms navigate peak pessimism by prioritising growth in stable Q2
Analysts said that artificial intelligence (AI) is becoming a significant revenue driver for the majority of Indian IT companies. However, they cautioned that near-term prospects remain muted due to pricing pressure and AI-driven deflation in traditional services.
India in striking distance of 8% growth as reforms boost economy: Shaktikanta Das
Das said the BFSI sector has a crucial role to play in India's journey from a lower-middle-income economy to a high-income economy, through its intermediation in allocation of financial resources. He said the sector would be required to support India's next-gen Digital Public Infrastructure (DPI), be the frontline of green and transition finance and become the catalyst for democratising financial inclusion to support this journey.
Double-digit growth seen on corporate scoreboard in Q2, but bank, IT, pharma lag
September quarter earnings exhibited significant revenue and profit growth for various companies in key sectors. Revenue rose by 22.1% with net profit increasing by 27.5%, surpassing the previous quarter. However, banking, IT, and pharmaceuticals sectors experienced a slow down in growth rates. Excluding lending, operating margins improved, indicating stronger performance in non-banking sectors. Analysts expect 13 out of 18 sectors to deliver double-digit sales growth in the coming quarters.
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