Service sector of India Boosted in October; says survey report
Service sector of India Boosted in October; says survey report
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A recent survey says, Services sector activity in the country gathered pace in October, a fast and broad increase in new business orders amid strong demand and improved market conditions, says a survey.

The Nikkei India Services Purchasing Managers' Index (PMI), which tracks service sector companies on a monthly basis, stood at 54.5 in October as against 52.0 in September.

The Services PMI recorded above the no-change mark of 50.0 for the 16th straight month, highlighting sustained growth in the sector. A reading above 50 means the sector is expanding while below that points to contraction.

"The service sector joined its manufacturing counterpart in offering a more upbeat level of performance this month, providing reassurance in the sustainability of the upturn of India's economy," Pollyanna De Lima, economist at IHS Market, and author of the report, said.

'Mahindra and Mahindra' Tractor sales boosted 60 percent

Standard and Poor's welcomed India's monetary credibility

'VE Commercial Vehicles' reported 14.43% increase in sales

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