NIFTY23,406▼0.33%

SENSEX74,346▼0.41%

BANKNIFTY54,186▲0.88%

NIFTY IT29,384▼5.57%

PHARMA24,087▲0.33%

AUTO26,093▲0.05%

FMCG48,124▼1.01%

METAL13,535▼0.17%

REALTY762.60▼1.39%

ENERGY40,197▲0.02%

NIFTY23,406▼0.33%

SENSEX74,346▼0.41%

BANKNIFTY54,186▲0.88%

NIFTY IT29,384▼5.57%

PHARMA24,087▲0.33%

AUTO26,093▲0.05%

FMCG48,124▼1.01%

METAL13,535▼0.17%

REALTY762.60▼1.39%

ENERGY40,197▲0.02%

Economy17h ago

India's Services Sector Growth at Risk Due to Mounting Downside Risks

India's Services Sector Continues to Show Resilience

Business activity in India's services sector has continued to demonstrate resilience despite ongoing input-cost pressures. The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 58.8 in April to a six-month high of 59.8 in May.

The improvement in the index was driven largely by domestic demand, with new business orders increasing amid stronger demand for freight, digital solutions, e-commerce, entertainment, and IT services. This uptick in demand suggests that the Indian services sector remains a key driver of the country's economic growth.

Read also: FirstClub Secures $55 Million in Funding from Peak XV, Sofina, and Other Investors 9 Months After $22 Million Series A Round

Investor Takeaway

Investors should be cautious of the potential risks to India's services sector growth.

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