India Service Sector Continues To Expand In September

India Private Sector Growth Strongest In 4 Months

India's private sector grew the most in four months in December as there were quicker increases in output at both manufacturers and service providers, flash data compiled by S&P Global showed on Monday. The HSBC composite output index registered 60.7 in December, up from 58.6 in November. A score above 50.0 indicates expansion.

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India Names Sanjay Malhotra As New RBI Governor

The Indian government on Monday named a top bureaucrat Sanjay Malhotra as the new governor of the Reserve Bank of India. Malhotra, who is currently the revenue secretary in the Ministry of Finance, will take charge from December 11 for a period of three years. He will succeed Shaktikanta Das who has held the post since 2018.

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India Keeps Rates Unchanged, Lowers CRR To Boost Liquidity

The Reserve Bank of India left its key policy rates unchanged for the eleventh straight session and maintained a neutral stance, but its move to cut the cash reserve ratio by 50 basis points to infuse liquidity signaled that policymakers are more concerned about the growth outlook than inflation. RBI Governor said the committee voted 4-2 to maintain the policy repo rate at 6.50 percent.

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India GDP Growth Slowest In 7 Quarters On Weak Manufacturing

The Indian economy expanded at the slowest pace in seven quarters during the three months to September as the stronger performance of the services sector was offset by the sluggishness in manufacturing and mining industries, preliminary data from the statistics ministry showed on Friday.

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India Services Growth Strengthens In October

India's services activity growth recovered from September's ten-month low on sharper expansion in output and new business, final data from S&P Global showed on Wednesday. The HSBC final services Purchasing Managers' Index registered 58.5 in October, up from 57.7 in September. The flash score was 57.9. New business growth accelerated from a ten-month low seen in September.

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India Manufacturing Activity Growth Gains Momentum

India's manufacturing sector growth accelerated in October as rising new orders lifted production and confidence, data compiled by S&P Global showed on Monday. The HSBC final manufacturing Purchasing Managers' Index rose to 57.5 in October from an eight-month low of 56.5 in September. The flash reading was 57.4. A score above 50.0 indicates expansion.

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India Central Bank Policy Stance Shift To Neutral Opens Door For Rate Cuts

The Reserve Bank of India maintained its interest rate for the tenth straight meeting on Wednesday, and shifted its monetary policy stance to neutral, paving the way for the first interest rate cut in four years as inflation is expected to moderate. The RBI Monetary Policy Committee, led by Governor Shaktikanta Das, voted 5-1 to keep the policy repo rate unchanged at 6.50 percent.

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India GDP Growth Slowest In 5 Quarters

India's economy grew at the slowest pace in five quarters in the three months to June, as a slowdown in farm output, and a slump in government spending offset the gains in manufacturing and private consumption. Gross domestic product grew 6.7 percent year-on-year following a 7.8 percent increase in the March quarter, preliminary figures from the country's statistical office showed Friday.

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