#Export orders

[currentmediasstuff]

India's Services Sector Soars in June: A Record-Breaking Rise in Exports Boosts Growth

India’s service sector saw a significant boost in activity last month, driven by robust domestic and international demand. According to a recent business survey, the sector’s growth accelerated, reaching levels not seen in nearly two years.

Pranjul Bhandari, chief India economist at HSBC, highlighted the surge in new orders as a key factor. “Activity growth in India’s service sector accelerated in June … led by an increase in both domestic and international new orders,” she noted.

PMI Hits New Highs

The HSBC India Services Purchasing Managers’ Index (PMI), compiled by S&P Global, climbed to 60.5 in June from 60.2 in May. This figure aligns closely with a Reuters poll median forecast of 60.6 and a preliminary reading of 60.4. The PMI has remained above 50, indicating growth, for nearly three years.

Booming Demand and Record Export Orders

New business, a critical measure of demand, has consistently been above the breakeven point since August 2021. June saw a particularly notable expansion, driven by the fastest rise in international orders since the sub-index was introduced almost a decade ago. This surge in demand is promising for India’s economic outlook, especially as the country is already the seventh-largest services exporter globally, according to the Reserve Bank of India.

Job Market Strengthens

The strong demand also encouraged service providers to hire more staff. June witnessed the fastest pace of job creation since August 2022, marking over two years of continuous growth in hiring. This uptick in employment is a positive sign for the economy, reflecting the sector’s resilience and potential for further expansion.

Mixed Sentiment for the Future

Despite the overall growth, optimism among service providers for the year ahead has waned slightly. Concerns over market uncertainty and competition have led to the lowest level of positive sentiment in 11 months. Bhandari commented, “Overall, service providers remain confident about the year-ahead business outlook, although the level of optimism moderated sharply during the month.”

Cooling Inflation and Cost Management

Inflation seems to be cooling, with costs rising at the slowest pace in four months. The survey indicated that fewer than 5% of firms passed on cost burdens to clients, resulting in only a moderate rate of charge inflation. According to a Reuters poll, inflation is expected to fall below the Reserve Bank of India’s medium-term target of 4% this quarter but may pick up again in the next quarter. The central bank is anticipated to cut interest rates to 6.25% by year-end.

Composite PMI Reflects Broader Growth

The overall HSBC India Composite PMI, which includes both manufacturing and services, rose to 60.9 in June from 60.5 in May, matching the flash estimate. This growth reflects the combined strength of India’s manufacturing and services sectors, painting a positive picture of the country’s economic health.

In conclusion, June’s performance underscores the resilience and dynamism of India’s services sector, with record-breaking export orders and strong job creation leading the way. While future sentiment has tempered slightly, the current indicators point to a robust and growing industry.

[yume-fanfare]

that's why i gave up on music

[cannedvampirejuice]

ALL AROUND THE WORLD ITS SALIERI SUNDAY

[buwheal]

he is so so so fun to draw :heart:

I used to not be a big fan of giving him pupils but now I cant go back, theyre so expressive!! he's so silly and so uncle

[elleryhart]

You broke the heads of Leviathan in pieces, and gave him as food to the people inhabiting the wilderness.

[tigerpy]

The Derrick Hand head model turn-around.

[ryonello]

a shrimp fried this rice :3

[callisto-sure-loves-cartoons]

Made army dreamers gifs for my warriors oc’s :D

[fatehbaz]

Nothing in the past, moreover, gave any cause to suspect ginseng’s presence so far away. Or even closer by: since antiquity, for well over a millennium, the ginseng consumed in all of East Asia had come from just one area -- the northeast mountainous lands straddling Manchuria and Korea. No one had found it anywhere else. No one was even thinking, now, to look elsewhere. The [...] [French traveler] Joseph-Francois Lafitau didn’t know this. He had been [...] visiting Quebec on mission business in October of 1715 [...]. He began to search for ginseng. [...] [T]hen one day he spotted it [...]. Ginseng did indeed grow in North America. [...]

Prior to the nuclear disaster in the spring of 2011, few outside Japan could have placed Fukushima on a map of the world. In the geography of ginseng, however, it had long been a significant site. The Edo period domain of Aizu, which was located here, had been the first to try to grow the plant on Japanese soil, and over the course of the following centuries, Fukushima, together with Nagano prefecture, has accounted for the overwhelming majority of ginseng production in the country.

Aizu’s pioneering trials in cultivation began in 1716 – by coincidence, exactly the same year that Lafitau found the plant growing wild in the forests of Canada. [...]

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Since the 1670s the numbers of people [in Japan] clamoring for access to the drug had swelled enormously, and this demand had to be met entirely through imports. The attempt to cultivate ginseng in Aizu -- and soon after, many other domains -- was a response to a fiscal crisis.

Massive sums of silver were flowing out of the country to pay for ginseng and other drugs [...]. Arai Hakuseki, the chief policy maker [...], calculated that no less than 75% of the country’s gold, and 25% of its silver had drained out of Japan [to pay for imports] [...]. Expenditures for ginseng were particularly egregious [...]: in the half-century between 1670s through the mid-1720s that marked the height of ginseng fever in Japan, officially recorded yearly imports of Korean ginseng through Tsushima sometimes reached as much as four to five thousand kin (approx. 2.4–3 metric tons).

What was to be done? [...] The drain of bullion was unrelenting. [...] [T]he shogunate repeatedly debased its currency, minting coins that bore the same denomination, but contained progressively less silver. Whereas the large silver coin first issued in 1601 had been 80% pure, the version issued in 1695 was only 64% silver, and the 1703 mint just 50%. Naturally enough, ginseng dealers in Korea were indifferent to the quandaries of the Japanese rulers, and insisted on payment as before; they refused the debased coins. The Japanese response speaks volumes about the unique claims of the drug among national priorities: in 1710 (and again in 1736) a special silver coin of the original 80% purity was minted exclusively for use in the ginseng trade. [...]

[T]he project of cultivating ginseng and other medicines in Japan became central to the economic and social strategy of the eighth shogun Yoshimune after he assumed power in 1716. [...]

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China and Korea were naturally eager to retain their monopolies of this precious commodity, and strictly banned all export of live plants and seeds. They jealously guarded as well against theft of mature roots: contemporary Chinese histories, for example, record that the prisons of Shenjing (present day Shenyang) overflowed with ginseng poaching suspects. So many were caught, indeed, that the legal bureaucracy couldn’t keep up. 

In 1724, the alarming numbers of suspected poachers who died in prison while awaiting trial led to the abandonment of the regular system of trials by judges dispatched from Beijing, and a shift to more expeditious reviews handled by local officials. [...]

Even in 1721. the secret orders that the shogunate sent the domain of Tsushima called for procuring merely three live plants [...]. Two other forays into Korea 1727 succeeded in presenting the shogun with another four and seven plants respectively. Meanwhile, in 1725 a Manchu merchant in Nagasaki named Yu Meiji [...] managed to smuggle in and present three live plants and a hundred seeds. [...]

Despite its modest volume, this botanical piracy eventually did the trick. By 1738, transplanted plants yielded enough seeds that the shogunate could share them with enterprising domains. [...] Ginseng eventually became so plentiful that in 1790 the government announced the complete liberalization of cultivation and sales: anyone was now free to grow or sell it.

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By the late eighteenth century, then, the geography of ginseng looked dramatically different from a century earlier.

This precious root, which had long been restricted to a small corner of the northeast Asian continent, had not only been found growing naturally and in abundance in distant North America, but had also been successfully transplanted and was now flourishing in the neighboring island of Japan. […]

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Colonial Americans, for their part, had developed their own new addiction: an unquenchable thirst for tea. […] This implacable need could have posed a serious problem. [...] [I]ts regular consumption was a costly habit.

Which is why the local discovery of ginseng was a true godsend.

When the Empress of China sailed to Canton in 1784 as the first ship to trade under the flag of the newly independent United States, it was this coveted root that furnished the overwhelming bulk of sales. Though other goods formed part of early Sino-American commerce – Chinese porcelain and silk, for example, and American pelts – the essential core of trade was the exchange of American ginseng for Chinese tea. [...]

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Yoshimune’s transplantation project had succeeded to the point that Japan actually became a ginseng exporter. As early as 1765, Zhao Xuemin’s Supplement to the compedium of material medica would note the recent popularity of Japanese ginseng in China. Unlike the “French” ginseng from Canada, which cooled the body, Zhao explained, the “Asian” ginseng (dongyang shen) from Japan, like the native [Korean/Chinese] variety, tended to warm. Local habitats still mattered in the reconfigured geography of ginseng. [...]

What is place? What is time? The history of ginseng in the long eighteenth century is the story of an ever-shifting alchemical web. [...] Thanks to the English craving for tea, ginseng, which two centuries earlier had threatened to bankrupt Japan, now figured to become a major source of national wealth [for Japan] .

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Text by: Shigehisa Kuriyama. “The Geography of Ginseng and the Strange Alchemy of Needs.” In: The Botany of Empire in the Long Eighteenth Century, edited by Yota Batsaki, Sarah Burke Cahalan, and Anatole Tchikine. 2017. [Bold emphasis and some paragraph breaks/contractions added by me.]

[myretaildistribution]

We are delighted to announce our fulfilment and packaging partnership with @olliebearman.

Ollie is a British racing driver who made an incredible Formula One debut for Ferrari in the 2024 Saudi Arabian Grand Prix, substituting for Carlos Sainz Jr.

Subsequently, Ollie has signed a contract with Haas and he is set to make a full-season debut in 2025 on a multi-year deal.

[barbedwirebitch]

one for the money, two for the show!

(this will probably become a 5x7 print to go alongside my contrast collection!stay tuned & pls click the image for higher quality!)

[dailydegurechaff]

apparently you cant reblog posts with video so here i am responding in a new post (the context here is the tags of this post)

@octomage unfortunately no livestream :( but for you here is 3 and a half minutes of sloppily edited Tanya Unboxing ASMR (it isnt very relaxing) featuring: lots of bad plastic noises, my confusion, the ac running in the background, and a peek at the Tanya Shrine

with this post i will be starting and ending my career as an unboxing youtuber. thank u, u_u <3

[goldentigerfestival]

I love them conversing like this. I love that Yuri can joke with Raven while still knowing when to take him seriously. There's this special sort of bond between them when Yuri can't really talk to anyone else about this stuff. When everyone else is down in the dumps, Raven can still have a level headed conversation about the state of things without letting his emotions get in the way so they can figure out what to do (it's also Raven who speaks to Yuri about everyone else's mood after Judith leaves).

I also really love it because it's their way of having come such a long way together. They always had a silly little rapport, but as time passed Raven became someone Yuri could lean on when things got bad.

I love their growth. 😔

[ququoquaw]

this is the gif progress for today

[chestnutbeomie]

happy birthday song mingi you are so so so cool and swag and amazing in every possible way

[caimitos]

my most self indulgent hc that is closest to my heart and haven't talked about in years is vespa ilkay filipino (her eyes have a rage you only see in 3rd world med students)