India’s service sector activity grew at its fastest rate in 11 years

India’s service sector activity grew at its fastest rate in 11 years

• In June, the services industry in India had its highest level of activity in 11 years because to growing demand, capacity development, and favourable economic conditions. The S&P Global Purchasing Managers’ Index (PMI) for services increased to 59.2 in June from 58.9 in May, which is the highest level since April 2011. The results demonstrate a solid rebound in the services sector, which is reflected in good GST receipts.
• At the end of the first fiscal quarter, services companies noticed a significant increase in the volume of new business. S&P Global claims that businesses were successful in obtaining new business while raising prices.

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Published date : 07 Jul 2022 06:07PM