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For long, India’s services sector has been seen as the engine of economic growth. Now, it is facing a reality check. While it contributes over half of the national output, it employs less than a third of the workforce, exposing a structural imbalance in India’s development story.According to a new report by NITI Aayog, titled…
NEW DELHI: India’s services sector engaged nearly 188 million workers in 2023-24, absorbing labour at scale and displaying resilience in the face of shocks such as the pandemic, a report by policy think tank Niti Aayog said on Tuesday and recommended a series of measures to boost quality jobs and usher in formalisation in the…
A majority of car buyers have used recent GST reductions not to save money but to upgrade to higher-end models and brands, according to a new study. As per news agency PTI, around 80 per cent of buyers surveyed said they used the tax relief to switch to a better model, brand, or premium add-ons…
India’s services sector is fast emerging as a powerhouse of job creation, with its share in total employment climbing from 26.9 percent in 2011–12 to 29.7 percent in 2023–24, according to two new NITI Aayog reports. “Services employment share rose from 26.9 percent (2011-12) to 29.7 percent (2023-24),” the report said, according to ANI.The two…
NEW DELHI: The Indian IT sector is expected to surpass $400 billion by 2030, as AI transforms how enterprises deliver technology. In the near term, AI-driven efficiencies may put downward pressure on pricing, but the acceleration of AI capabilities is poised to expand both the willingness and capacity of global enterprises to outsource complex workflows,…
The Indian real estate sector has achieved its best fundraising results in seven years, according to a report by Equirus Capital. This increase shows renewed investor confidence and a steady recovery in property markets.The sector raised Rs 23,080 crore across 12 deals, the highest amount since 2017. This indicates a strong rebound in real estate…
Nearly 95 per cent of India’s trade by volume and around 70 per cent by value moves through maritime routes, underscoring the sector’s pivotal role in the country’s economy and competitiveness. A government press release cited by the agency highlighted that the maritime sector remains the backbone of India’s global trade and growth story.From crude…
A majority of executive-level appointments in India’s manufacturing sector over the past year were external hires, reflecting companies’ preference to bring in fresh leadership rather than promote from within, a report by CIEL HR Services revealed.The analysis, based on a combination of publicly available sources including professional networking platforms, press releases and verified databases, found…
NEW DELHI: India’s consumer and retail sector witnessed a decisive rebound in the Sept quarter, with deal volumes rising to 132 and values crossing $3.4 billion, nearly four times higher than previous quarter.The recovery was led by renewed investor focus on textiles, apparel and accessories, and sustained activity in food processing and e-commerce, Grant Thornton…
The Reserve Bank of India has called for policy measures to boost domestic competitiveness for the country’s steel sector which has been struggling under the weight of rising imports and dumping from global producers in 2023-24 and 2024-25.According to an article published in the apex bank’s latest October bulletin steel imports in the country surged…
