New Delhi: India’s services sector activity recorded a fifth consecutive month of growth, the highest in the past seven years.
According to the monthly survey released on Wednesday, this growth was recorded due to increase in orders, increased export demand and strengthened business confidence. The service business activity index of IHS Market India increased from 55.5 in January to 57.5 in February.
This is the fastest growth in the services sector since January 2013. According to the report, new business saw the second fastest growth in seven years during February. The report said that the increase in total sales was recorded as new orders were received from abroad. During this period the pace of increase in international demand for Indian services was moderate, but it has been above average for a long time.
