India Service Sector

The first three months of 2023 projects a strong outlook, especially for fresh graduates and entry-level employees, with 79 per cent employers willing to hire from this cohort

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PMI for services sector released by S&P Global dipped to 54.3 in September from 57.2 in August as weak external demand weighed on overall sales, with international order declining during the month

To offset the high attrition rate and execute about USD 2-billion order pipeline, global private equity major Carlyle Group-controlled Hexaware Technologies is adding 10,000 more to its 25,000-strong headcount this year, a senior company official has said. Last October, the Carlyle Group offered a reported USD 3 billion to Baring Private Equity Asia for the city-based software firm founded by technology veteran Atul K Nishar in 1990. PTI was the first to report in late August 2021 that Carlyle, the Washington-based private equity, alternative asset management and financial services giant set to pip bulge bracket rivals such as Bain Capital, KKR & Co and the Paris-based outsourcer Teleperformance, was the winner with a USD 3-billion bid for the company. None of the three parties has yet officially announced the deal completion. Nishar, who was founder and chairman of Hexaware Technologies, had in 2013 sold majority stake to Baring PE Asia for Rs 1,687 crore, with an open offer for .

The IHS Markit Services Purchasing Managers' Index slumped to 51.5 in January from 55.5 in December

Job losses continue as domestic demand struggles as lockdowns return in states and export orders vanish

The data showed that the rate of deceleration also declined in October from September, providing a ray of hope in these times of slowdown.

The services sector has been growing faster than the physical infrastructure sector that should ideally be a necessary

Though the downturn was less severe than in July, jobs were shed due to fewer workloads