Services could be India’s growth driver, help generate 70mn jobs over next decade: HSBC Global Research

India's services sector has the potential to drive growth and job creation in other sectors like manufacturing and agriculture, according to a report by HSBC Global Research. The report suggests that services companies can help smaller manufacturing firms achieve scale by leveraging digital infrastructure and accessing formal credit, cheaper raw materials, and better logistics. HSBC also expressed confidence in India's ability to increase services sector exports, citing its movement up the value chain and the expansion of multinational corporations in the country. However, the report emphasized the need to support labor-intensive sectors to create enough jobs.