India’s Service Sector Growth Slows: Disappointing news has come from the service sector amidst the continuous efforts being made to speed up the country’s economy. While the recent GST reforms were expected to raise domestic demand and business activities, the growth rate of the service sector has slowed down in September.

According to the Service Survey of India Seva PMI released by HSBC, the business activity index (PMI) of the service sector declined to 60.9 in September 2025, compared to 62.9 in August. Although this level is above the neutral level of 50 points, it shows that the economy still continues to grow, but this growth is now slower than before.

Recession signs and lack of international demand

According to the survey, one of the main reasons for the slowdown of the service sector is the slow pace of new orders and business activities. Along with this, there has been a soft improvement in the international demand of Indian services.

In September, an increase in export orders was recorded, but it has been at the weakest level since March. Companies said that the availability of services at low prices in other countries has increased competition, which put pressure on India’s external sales.

The situation was a bit better on the price level front. The survey reported that inflation speed had been the slowest since March, and it was in line with the long -term average. In September, the prices of Indian services increased at a weak rate, which brought some relief to consumers.

Sleake in employment generation

Employment generation was also slow during September. Less than five percent of the companies involved in the survey reported new recruits. This means that employment growth in the service sector was limited and new job opportunities were reduced.

Composite output index declines

Composite Output Index of HSBC India – which includes both manufacturing and service display – remained at 61.0 in September, which came below 63.2 in August. This reflects the weakest rate of expansion since June. This index is prepared on the basis of share in the GDP (GDP) of the country’s manufacturing and service sectors.

Purchasing manners’ Index) staying above 50 means expanding in the economy, while the level below 50 reflects contraction. Although the growth rate of the service sector has slowed down a bit, it is still in the field of expansion – which indicates that the foundation of the country’s economy remains strong, even though there is pressure on the service sector in the short term.

Opinion of analysts

According to HSBC India Chief Economist Pranjul Bhandari, “The business activities of the service sector have slowed down in September after touching the record height in August. However, this sector may gain speed again in the coming months due to domestic demand and policy stability.”

Overall, this report states that India’s service sector is still flexible and developing, but increasing global competition and reduction in international demand are making challenges for this.

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External Affairs Minister S.K. Jaishankar has made a big statement on Sunday (October 5, 2025). Jaishankar said that the Laxman lines of New Delhi should be respected in any trade agreement between the two countries. He also said that efforts are being made to find a shared basis in this regard.

Jaishankar admitted in a dialogue session of a program in New Delhi that there are some issues between India and the US and many of them are associated with not finalizing the proposed trade agreement.

We have not been able to reach any agreement for our business talks- Jaishankar

Foreign Minister S. Jaishankar said that it is necessary to make an understanding about trade between India and America, because America is the largest market in the world. However, he also clarified that the Laxman lines of India should also be respected. He said, ‘Today we have some issues with America. One of the major reasons for this is that we have not been able to reach any agreement for our business talks till now and due to not reaching there, some charges have been imposed on India.

Inappropriate levy on buying fuel from Russia- Jaishankar

Jaishankar Kautilya was speaking in a discussion on the form of foreign policy in the Economic Enclave. During this, he said, ‘Apart from this, there is a double fee, about which we have publicly said that we consider it very inappropriate. This fee targets us for buying fuel from Russia, while many other countries are also doing this. They also include those countries which have a more conflict relationship with Russia than at the present.

Us It is necessary to make business understanding with- Jaishankar

The relations between New Delhi and Washington have been under severe stress since the US President Trump doubled the fee on Indian goods to 50 percent. It also includes 25 percent additional fee on the purchase of Russian crude oil from India. India termed this action of America as unfair, unwanted and irrational.

Jaishankar said, “Whatever it is in the end, it is necessary to create a business understanding with America, because it is the largest market in the world and also because most of the countries of the world have made such an understanding with America.” He said, ‘But it should be an understanding in which our basic boundaries, our Lakshman lines can be respected. In any agreement, there are some things on which you can interact and there are some on which you cannot talk.

India’s approach is absolutely clear- Jaishankar

Jaishankar said that India’s approach is absolutely clear. He said, ‘I think we are absolutely clear about this. We have to find that land and talks have been going on since March.

India and the United States have resumed talks on the recently proposed trade agreement after a few weeks of gap. The Foreign Minister also said that the stress in relations is not affecting every aspect of the conversation. He said, ‘There are problems, issues, no one can deny it. Those issues require negotiations, discussions and solutions and this is what we are trying to do.

He further said, ‘I will really refrain from finding anything implications about it more than issues. I think I also want to say that a large part of the relationship is either running as before or in some cases is going on more than before.

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Vladimir Putin has strongly criticized the US President Donald Trump’s decision to impose heavy tariffs on India to buy crude oil from Russia. He has accused America of ‘double standard’. He said that America buys a large amount of uranium from Russia. Last year, Russia sold $ 800 million to the US and is expected to sell up to $ 1.2 billion this year. He said that Trump himself is buying uranium and pressurizing India to stop crude oil khardina.

Putin said this at the International Valdai Forum of Security and Geopolitical Experts of 140 countries including India in Sochi, Russia. Putin said that Russia is the second largest uranium supplier in America all over the world and this year it is going to buy $ 1.2 billion from Russia.

America has purchased uranium from Russia $ 800 million
Vladimir Putin said, ‘America is also included in the largest countries in the world using nuclear plants and even if not, but nuclear energy is being built there, not there, which needs a large amount of fuel. We are not the largest supplier of uranium, but is the second largest supplier in America. He said that 25 percent of uranium in the US market goes from Russia and in 2024, Russia earned around $ 800 million by selling uranium to America.

Putin accused Trump of double standards
US President Donald Trump has imposed 50 percent tariffs on Indian goods, out of which 25 percent of tariffs have been imposed as a penalty to buy crude oil from Russia. Western countries have imposed centers on Russia due to the war that has been going on for more than two years with Ukraine, but India buys, which Trump has objected. He has also requested European countries to impose 100 percent tariffs on Russian oil buying countries. However, America itself is buying chemicals, uranium and fertilizers from Russia.

Russia will compensate for the loss of Trump’s tariff
Putin has also said that India’s tariff is causing damage to India, it will be compensated with oil imports. India buys raw on a large scale from Russia, due to which there is a lot of imbalance in trade between the two countries. On the other hand, America is also pressurizing India not to buy oil from Russia, so Putin wants to reduce trade imbalance with India. He has instructed his government to take steps in this direction and said that Russia can buy pharmaceutical and agricultural products from India.

Vladimir Putin once again proved that Russia is a true friend of India. He has said that his government will take measures to reduce the damage caused by tariff to India. Russia can buy more pharmaceutical and agricultural products from India.

Putin has criticized US President Donald Trump’s decision to impose 50 percent tariff on India. He has instructed his government to take measures to reduce the trade imbalance being caused to India due to purchasing crude oil from Russia. India buys crude oil from Russia on a large scale, due to which there is a huge imbalance in trade between the two countries. Now due to buying Russian oil, America is putting pressure on India by putting huge tariffs, so Putin wants to reduce trade imbalance between the two countries.

On Thursday (October 2, 2025), Putin said this in the Black Sea Resort in Sochi, Russia, in the International Valdai discussion of the security of 140 countries including India and the International Validai discussion. He said that the loss of India from American tariffs will be repaid by import of Russian crude oil and India will also get a reputation as a sovereign nation.

Russia will buy medicines from India
Putin has indicated that Russia can buy medicines from India to compensate for this loss. He said that this trade imbalance can be reduced by purchasing India’s pharmaceutical and agricultural products. Last month, Trump had announced a 100 percent tariff on India’s patent drugs from October 1, while generic medicines were excluded from it.

Vladimir Putin said that there is no political aspect in the measures he has asked for India to take business, this is an economic calculation. He said that if India leaves Russian resources, then it will cause a lot of damage. He said that different estimates have been made, some say that there may be a loss of 9-10 billion dollars, but if he does not do so, then he will be seated and that loss is going to be the same.

Putin said why India will do this, if it leaves Russian resources, then it will also cause domestic political losses and Indians will never let their insults be insulted. He said, ‘Indian people never give anyone a chance to insult. I know Prime Minister Narendra Modi, he will never take such a decision.

Indians will not allow their insults, said Putin
Putin said on the relations between India and Russia that there was never any problem between us, it never happened that due to some reason there was a tension situation between the two countries. Vladimir Putin said that the relations between India and Russia are strong since the time of the Soviet Union, India was struggling for independence at that time.

He said that the people of India have not forgotten it even today, they know our relationship and appreciate it. We praise that India never ignored its relationship with Russia. Putin appreciated the Nationalist Government of India led by PM Modi and described PM Modi as a balanced, intelligent and nation -friendly leader.

Prime Minister Narendra Modi and US President Donald Trump may meet in Kuala Lumpur, the capital of Malaysia later this month. In fact, leaders of both countries can have a bilateral meeting on the sidelines of the upcoming ASEAN Summit.

Prime Minister Modi is scheduled to visit Malaysia on 26-27 October 2025 to attend the 47th ASEAN Summit. At the same time, Malaysia has also invited US President Donald Trump to attend the conference. If President Trump confirms his participation in this conference, this will be the first multilateral platform, where the leaders of the two countries will face face to face after Washington has imposed 50 percent tariff on India.

America tensions in relations with India

Since the US impositions 50 percent tariff on India’s goods, the relationship between the two countries has been tension. At the same time, on the other hand, America is increasing its closeness with Pakistan these days. America’s tension with India increased even more when Trump targeted New Delhi for energy relations with Moscow, especially crude oil imports.

Criticism has been trumped for the purchase of Russian oil

US President Donald Trump has repeatedly criticized India for importing crude oil from Russia. Apart from this, he has also warned India that such a purchase weakens international efforts to put pressure on Moscow to end the Ukraine war.

Trump’s associate Peter Navarro made sharp rhetoric

Apart from President Donald Trump regarding Russian oil imports, many Trump of Trump’s colleagues have also made sharp statements against India, including the name of Peter Navarro. Navaro, while making statements on India, even said that the ongoing struggle between Russia-Ukraine is Modi’s war. Along with this, he also accused India of making profiteering through its refineries and called India a laundromat of Russian oil.

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The date of Russian President Vladimir Putin’s visit to India has been fixed amid the ongoing tension to import crude oil from Russia with the US. President Vladimir Putin is scheduled to visit India on a two-day visit on 5-6 December in the last month of this year. During this, Russian President Putin will also meet Prime Minister Narendra Modi. In such a situation, the tension of US President Donald Trump may increase due to Putin’s visit to India amid the ongoing tension with the US.

According to news agency ANI, Russian Foreign Minister Sergei Lavarov is also expected to come to India to prepare for the summit and discuss bilateral issues before Russian President Putin’s visit to India.

Russian Foreign Minister UNGA Was announced in

In fact, Russian External Affairs Minister Sergei Lavarov announced in the 80th session of the United Nations General Assembly (UNGA) that the Russian President’s visit to India in December. During this, Lavarov also gave a statement on the depth of the bilateral agenda regarding India-Russia relations. Which includes close coordination in international forums such as business, military and technical cooperation, finance, humanitarian cases, healthcare, high technology, AI and SCO and BRICS.

What Russian Foreign Minister said on India’s trade autonomy,

Emphasizing India’s trade autonomy, Russia’s Foreign Minister Lavarov said, ‘We fully respect India’s national interests and also respect the foreign policy being adopted by PM Narendra Modi to promote these national interests. We maintain constant contact with India at the highest level. At the same time, he said that India is fully capable of taking its decisions regarding trade relations.

Lavarov said about American tariff imposed on India

During this time, the Russian Foreign Minister also gave a statement about the tariff imposed on India by the US regarding Russian oil imports. He said, ‘India and Russia’s economic partnership is not in danger. Prime Minister of India Narendra Modi and Foreign Minister S.K. Jaishankar has completely made it clear that India selects its partner itself.

He said, ‘If the US proposes to increase bilateral trade between it and India, then they are fully prepared to discuss the conditions for this. But when it comes between India and a third country, then in such cases India will give priority to the discussion only with the countries concerned.

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US President Donald Trump has given a major setback to the whole world on Monday (September 29, 2025). Donald Trump has announced to impose 100 percent tariffs on films made out of America. This 100 percent tariff will also be applicable on films made in India. It is being considered a major setback for the Indian cinema industry.

In the last few years, the business of Indian films in America has reached around $ 20 million. The earnings from Indian films will also come down due to the imposition of 100 percent tariff. Before the arrival of Korona epidemic, the market of Indian films in America was about $ 8 million. After the end of the epidemic, it has increased rapidly to about $ 20 million.

What statement did US President give about the decision,

US President Donald Trump has given a statement on Monday (September 29, 2025) regarding his decision. He said, ‘Other countries have stolen the business of making our film from the United States, just as a candy is taken away from a child. California is the worst affected due to its weak and unqualified governor! Therefore, to solve this long and never ending problem, I am going to put 100 percent tariffs on all films made outside America. Thank you for focusing on this matter. Make America Great Again! ‘

The popularity of Indian films increased in America

The popularity of Indian films has increased significantly in America for some time. Whether it is a Hindi film industry film or a South Film Industry film, many of these films are earning well there. But now after this new announcement of Trump, Indian films released in America can suffer losses.

India-Rus Trade: The trade deal has not yet been signed between India and America. Prior to this deal, Donald Trump’s Commerce Secretary Hovard Lutynik has given a big statement. He said that India will have to treat America properly.

Hovard Lutynik, Commerce Secretary, Donald Trump, also said that we have to improve many countries and also emphasized that such policies should be eliminated which are harming American interests.

‘India needs to open its market’

In an interview given to the News Nation, Lutynik said that India should open its market and should not adopt policies that can harm America. He said, ‘We have many countries that need to improve, such as Switzerland and Brazil. India is also such a country which should take the right steps towards America. Open your markets and stop work that harm America. This is why we have disagreement with these countries.

‘India will have to cooperate’

Lutnik said that business issues may be resolved over time, but if India wants to deliver its products to American customers, then it will have to cooperate with America. He said, ‘These issues will be resolved with time, but it will take time. These countries have to understand that if you want to sell American consumers, then you have to cooperate with the President of America. So there are some issues left. Big countries like India, they will be resolved over time. Lutnik also said, “The economy of 2026 will be the economy of Donald Trump.”

This statement came at a time when a high -level Indian team led by Indian Commerce and Industry Minister Piyush Goyal has visited America. The Ministry of Commerce said on 26 September that this tour had a successful talks to strengthen trade and investment relations between India and the US.

Russia’s Foreign Minister Sergei Lavarov has termed India-Russia relations as a privileged strategic partnership. He said that multi -faceted cooperation between the two countries has been intact for a long time. Lavarov said that recently Prime Minister Narendra Modi and President Vladimir Putin met during the SCO Summit (Tianjin) in China and Putin’s visit to New Delhi in December. He said that the India-Russia agenda is very widespread, including the forums like trade, defense, technical cooperation, finance, healthcare, AI, SCO and BRICS.

On the question of America’s pressure to buy Russian oil on India, Lavrov said that India-Russia Economic Partnership is not in danger. India selects its partners themselves. If the US has conditions to increase Indo-US trade, then India will consider it, but the decision on relations with the third country is India’s internal matter. He appreciated India’s independent foreign policy comparing Turki to self -esteem countries.

Russian support for Indian foreign policy and oil purchase

On the question asked by India on oil imports from Russia, Lavrov said that Russia fully respects India’s national interests. He appreciated the independent foreign policy of Prime Minister Modi and Foreign Minister Subrahmanyam Jaishankar. Lavarov said, “India is fully capable to decide to whom he bought. If the US wants to sell oil to India, then India can discuss the terms, but it is its sovereign decision what country it should buy from.

Importance of privileged strategic partnership

Lavarov said that relations between India and Russia are not a general partnership, but this privileged strategic partnership “. He also said that there is a regular exchange between India and Russia and External Affairs Minister Jaishankar will visit Russia this year, while he himself will visit India.

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India-Rus Trade Talks: After the US imposing more tariffs on India, the talks between the two countries have started again. India and the United States have decided that a mutually beneficial trade agreement (BTA) will be completed soon. The Indian delegation went to the US under the leadership of Commerce Minister Piyush Goyal and returned after a three -day conversation. During this time, both sides discussed many important issues and agreed to continue further talks.

India has demanded removal of tariffs imposed in the form of 25 percent additional penalty from the US, as it can obstruct the agreement. 100% tariff on drugs from the US can affect India’s exports, while Indian companies have a major stake in the supply of US medicines. Nevertheless, the conversation has taken place in a positive environment and it will be carried forward in a phased manner. The goal is that by 2030 the trade between the two countries will increase from $ 191 billion to $ 500 billion. The Indian delegation also met American investors and industrialists who expressed confidence in India’s economic growth and showed a desire to increase business.

Soon India-US conversation

The Ministry of Commerce said, “Both sides shared views on the outline of the agreement. During this time, it was decided to continue the talks to reach out to the earliest profitable trade agreement. These talks have been held in the backdrop of the US administration imposing a total of 50 percent fee on India.

According to the news agency PTI, an official said that India has demanded the US to remove the tariffs imposed as this panalty, as it will be important in the way of trade agreement. The official also said that US President Donald Trump’s announcement of imposing 100% import duty on branded drugs from October 1 can affect Indian exports. The reason for this is that Indian companies have a huge stake in the supply of medicines to America.

Tariff worries on pharma

Four out of every 10 drug slips written in America in the year 2022 were completed with drugs supplied from India. Despite these deadlocks, business talks are on track. The official said that the agreement will be completed in a phased manner. The first phase of the agreement is planned to be completed by October-November this year. So far, five rounds of talks have been held. The target is to increase bilateral trade from the current $ 191 billion to $ 500 billion by 2030.

The top leadership of the two countries decided to start a conversation on the trade agreement in February 2025. The trade talks were postponed in late August after imposing 50% tariffs on India. But after the American team came to India in mid -September, this series started again.