India witnessed fastest expansion in service sector since last decade

NEW DELHI: A recent monthly survey has suggested that service sector in India has expanded at the second fastest pace in more than a decade during November. This growth was driven by sustained rise in new work and improvement in market conditions. The India Services Business Activity Index is seasonally adjusted. India’s figure in the index in November was at 58.1 which points to the fastest rise in output seen since July 2011. Moreover, it was for the fourth straight month that services sector witnessed an expansion in output. The expansion was witnessed despite the COVID-19 pandemic creating a drop in international demand for Indian services.