In international economic news, India's services sector experienced a significant decline in growth. The slowdown, reported for the month of July, marks the weakest pace in over four years. Fierce competition and fading client demand are cited as factors contributing to the decline.

Further details on this development are available from the source. The news was reported from Bengaluru, with the information provided by Reuters on August 5. For more information on India's services sector growth, readers can refer to the original report.