Business

Services Sector Sees Significant Recovery in February as PMI Hits 59.0

Published

11 months ago

March 6, 2025

In February, India’s services sector experienced a robust recovery, with the Purchasing Managers’ Index (PMI) climbing to 59.0, a notable increase from January’s 26-month low of 56.5.
The latest figures, compiled by S&P Global, revealed a surge in new business orders, both domestically and from abroad, which in turn boosted output and prompted a significant uptick in employment.

Although businesses noted increased cost burdens, inflation softened to a four-month low. Key drivers of output growth included productivity enhancements, sustained demand, and an uptick in new business acquisitions.

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Sales performance played a crucial role in this growth, with February recording a historically strong rise that outpaced January’s figures. According to the data, the expansion within the services sector was largely driven by heightened demand, especially from international markets, which saw its fastest growth in six months.

Companies continued to ramp up their operations, resulting in one of the most significant employment increases since record-keeping began in December 2005. To manage the rising workloads and alleviate capacity pressures, businesses reported hiring both full-time and part-time workers.

The consumer services segment experienced the most notable cost pressures, with rising expenses related to food, materials, and packaging contributing to inflation concerns. Despite the overall resilience of the services sector, the survey indicated that cost pressures remained a significant issue.

While firms faced higher expenses due to increased hiring, salary raises, and overtime payments, the overall inflation rate for input costs decreased to its lowest level in four months.

In a related report, data from S&P Global and released by HSBC indicated that India’s Manufacturing PMI in February recorded the slowest growth since December 2023, dropping to 56.3. This decline was attributed to subdued output and sales growth, along with a reduction in input purchasing, which fell to a 14-month low.

Despite robust demand, inflationary pressures persisted, as companies transferred rising labor costs to clients.

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Business

India May Buy More Oil From Venezuela Instead of Russia

Published

1 week ago

January 31, 2026

Namma Kudla

Business : The United States has told India that it can soon resume buying oil from Venezuela.The suggestion is part of a U.S. effort to reduce India’s dependence on Russian crude oil.

This pitch comes as India plans to cut Russian oil imports by several hundred thousand barrels per day in the coming months. Under the Trump administration, the United States had imposed a 25 % tariff on countries that bought Venezuelan oil, including India.

Now, the U.S. wants India to resume Venezuelan oil purchases to help diversify India’s energy sources. The United States is also trying to reshape energy ties with India as part of broader diplomatic engagement.

Venezuela’s interim president Delcy Rodríguez said she agreed with India on energy cooperation in a recent phone call with Prime Minister Narendra Modi. PM Modi said both sides agreed to deepen their partnership and expand cooperation in all areas.

Venezuela has the world’s largest proven oil reserves. Recently, Venezuela opened its oil sector to private investment to attract foreign capital and boost production.

India was one of the major buyers of Russian crude after the Ukraine war began in 2022. But India is now seeking alternative suppliers as part of its energy strategy.

Business

Chicken Prices Remain Stable in Local Markets

Published

2 weeks ago

January 27, 2026

Namma Kudla

Chicken prices remained stable in local markets today.Traders said there was no major change in rates.Consumers continued to make regular purchases.

Boneless chicken is priced at ₹210 per kilogram.Regular chicken is available at ₹160 per kilogram.Chicken liver is being sold at ₹120 per kilogram.

Country chicken is priced higher due to demand.It is selling at ₹360 per kilogram.Live chicken is available at ₹130 per kilogram.

Skinless chicken is priced at ₹200 per kilogram.Vendors said supply is sufficient in the market.They expect prices to remain steady in the coming days.

Customers expressed satisfaction with the current rates.Market officials said there is no shortage of chicken.

Business

Gold Prices Edge Up in India on January 19, 2026

Published

3 weeks ago

January 19, 2026

Namma Kudla

Gold prices in India recorded a slight increase on January 19, 2026, supported by global market trends, local demand, and movements in the rupee-dollar exchange rate.

As per market estimates, 24-carat gold, which is considered pure gold, is priced at ₹14,569 per gram, or ₹1,45,690 per 10 grams. 22-carat gold, commonly used for jewellery, is trading at around ₹13,355 per gram, or ₹1,33,550 per 10 grams.

The prices have risen marginally compared to the previous day. The increase is mainly linked to a weaker Indian rupee against the US dollar, which makes imported gold more expensive.

Gold rates vary slightly across cities such as Mangalore and other parts of the country. These differences depend on local taxes, transportation costs, jeweller margins, and regional demand.

Demand for gold remains strong due to the wedding season and festive buying, which continues to support higher prices. Investors also turn to gold during uncertain economic conditions, as it is seen as a safe-haven asset.

Experts say that global geopolitical developments, inflation concerns, and central bank policies are also influencing international gold prices, which in turn affect domestic rates.

Market participants expect gold prices to remain firm in the near term if the rupee stays weak and demand continues at current levels.