Indian services sector witnesses two-year high growth in June 2010

New Delhi: The services sector in India grew at its fastest in two years in June 2010 led by an increase in business expectations and new orders.

According to the HSBC Markit Business Activity Index, based on a survey of 400 firms, the service sector rose to 64.0 in June 2010 from 58.2 in May 2010, pointing to a substantial rate of growth as a figure above 50 indicates expansion.

All the 6 sub-sectors covered by the survey recorded growth in new business ventures since May 2010, with postal services and telecommunications registering the fastest expansion.

The survey also highlighted that the Indian services companies raised their charges for the seventh consecutive month.

Source : IBEF. 07/07/10

 

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