services sector

Mutual Funds: Mirae to restart SIP, STP, lumpsum in Mirae Asset Large & Midcap Fund from Aug 1

by
Mutual Funds: Mirae to restart SIP, STP, lumpsum in Mirae Asset Large & Midcap Fund from Aug 1

Mirae Asset Investment Managers has announced the withdrawal of the existing temporary suspension on subscription through the Systematic Investment Plan (SIP), Systematic Transfer Plan (STP), switch-ins & lumpsum in Mirae Asset Large and Midcap Fund (‘the Scheme’) and enabling other facilities from August 1, 2024. The fund will resume accepting subscriptions through Systematic Investment Plans … Read more

Robust govt capex, improvement in business confidence to push growth: Official

by
Robust govt capex, improvement in business confidence to push growth: Official

Robust capital expenditure by the government and improvement in business confidence will push the country’s economic growth in 2024-25, an official said on Tuesday. Chief Economic Adviser in the Ministry of Rural Development Kuntal Sensarma said that the focus areas in 2024-25 should be infrastructure growth, inclusive development and harnessing demographic dividend, among others. “The … Read more

Over 70 WTO nations agree to take additional obligations in services sector; India to benefit

by
Over 70 WTO nations agree to take additional obligations in services sector; India to benefit

India would benefit from a move of over 70 nations like the UK, UAE and Australia that have agreed to take on additional obligations in the services sector under an agreement of the WTO, an official said on Tuesday. These WTO (World Trade Organisation) members are taking the additional obligations under the General Agreement on … Read more

India’s Q2 GDP growth seen at 6.7% on strong services play

by
India’s Q2 GDP growth seen at 6.7% on strong services play

New Delhi: The Indian economy likely expected 6.7% in the July-September quarter, according to a median forecast of 10 economists polled by ET, boosted by a strong performance by the services sector. The Reserve Bank of India (RBI) has forecast 6.5% growth in the quarter. Robust manufacturing and construction activity also likely contributed to growth … Read more

Main drivers of growth in Q2 and Q3 likely to be domestic: Saugata Bhattacharya

by
Main drivers of growth in Q2 and Q3 likely to be domestic: Saugata Bhattacharya

Saugata Bhattacharya, Chief Economist, Axis Bank, says “manufacturing, if it actually stalls, in addition to the agricultural uncertainty, given the low rains that we have seen in August, might actually pull GDP growth even lower than the 6.2% that we have been expecting and forecasting for Q2. That is likely to pull down overall annual … Read more

India’s services sector exports’ basket can expand dramatically: Suresh Prabhu

by
India’s services sector exports’ basket can expand dramatically: Suresh Prabhu

The basket of India‘s services sector exports has the capacity to expand “dramatically”, contributing in a big way to the Centre’s USD 2-trillion target for shipments by 2030, former Union minister Suresh Prabhu said here on Friday. Prabhu, a former commerce and industry minister, said the nature, spectrum and volume of services exports will change … Read more

Services PMI rose to 52.8 in January; job cuts continued

by
Services PMI rose to 52.8 in January; job cuts continued

Growth in India’s dominant services sector picked up in January as demand improved and consumer optimism was buoyed by the start of a huge COVID-19 vaccination drive, although firms continued to shed jobs, a private survey showed on Wednesday. That improved sentiment was in line with findings of a Reuters poll last month that predicted … Read more

Labour ministry formalises work from home for services sector

by
Labour ministry formalises work from home for services sector

The labour ministry has formalised work from home for the services sector while leaving it for the employers in the IT sector to mutually decide the work hours for its employees. Besides, to safeguard the IT industry, the ministry has prescribed involvement in unauthorized access of any IT system, computer network of the employer, customer … Read more