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India remains the world's fastest-growing major economy despite a challenging global environment, and sustaining high growth will require continued reforms, investments and execution, HUL Chairman Nitin Paranjpe said on Tuesday. Addressing shareholders at the 93rd AGM, India has demonstrated "structural resilience" at a time when global economies are grappling with geopolitical conflicts, climate volatility, tightening financial conditions and shifting consumer behaviour. "While growth expectations have moderated, India continues to be the fastest-growing major economy," he said. India's long-term growth prospects are supported by "three drivers", which are favourable demographics, digital public infrastructure and a proactive policy environment. According to Paranjpe, India's young population can become a force multiplier for consumption, productivity and innovation, while the country's digital public infrastructure has created a unique foundation for commerce, credit and financia
The combined market valuation of nine of the top-10 most valued firms eroded by Rs 2,18,902.09 crore last week, with Bharti Airtel taking the biggest hit in line with a bearish trend in equities. Last week, the BSE benchmark tanked 1,527.52 points or 1.84 per cent. "Equity markets ended the week under notable pressure as persistent geopolitical tensions and weakness in technology stocks weighed on sentiment," Ajit Mishra, SVP, Research, Religare Broking Ltd, said. From the top-10 pack, Hindustan Unilever emerged as the only gainer. The market valuation of Bharti Airtel tumbled Rs 55,852.12 crore to Rs 10,71,853.25 crore. HDFC Bank's valuation eroded by Rs 37,580.1 crore to Rs 13,65,659.38 crore. The market valuation of Reliance Industries dropped by Rs 34,846.12 crore to Rs 18,86,832.66 crore, and that of Bajaj Finance tanked by Rs 20,316.41 crore to Rs 6,20,070.59 crore. Tata Consultancy Services' market capitalisation (mcap) slumped Rs 18,180.89 crore to Rs 9,53,872.59 crore.