Explore Business Standard
Associate Sponsors
Indian Economic Growth
A stable policy environment and a predictable, reform-oriented investment climate have ensured India's emergence as the world's fastest-growing major economy in recent times, Consul General in Shanghai Pratik Mathur said on Friday. Speaking at the 11th Edition of the Shanghai International Business Cooperation Forum, Mathur highlighted initiatives like Make in India and Digital India as important drivers of New Delhi's rise through the global rankings, the Consulate said in a post on X. He spoke at length about the increasing global interest in the upcoming AI Impact Summit 2026, which India will host on February 19-20, focusing on the principles of 'People, Planet, and Progress'. Mathur also spoke about India's Global South-oriented, people-centric, and inclusive AI policies, such as Bhashini, which have boosted the nation's ability to foster the world's largest startup ecosystem, with over 100,000 startups. The government's Bhashini AI platform allows translation of text, numbers
Moody's Ratings on Monday projected India to clock a 7.3 per cent growth in the current fiscal, and said the strong economic expansion would support average household incomes and stimulate demand for insurance protection. In its report on India's insurance sector, Moody's said the industry looks set to benefit from sustained premium growth on the back of robust economic expansion, increased digitisation, tax changes and a planned reform of the dominant state owned insurance sector. The increase should improve the industry's currently weak profitability. "We expect India's economy to grow by 7.3 per cent in FY 2025 (year to March 2026), up from 6.5 per cent the previous year. This will increase average incomes and support demand for insurance," it said. In FY 2024-25, GDP per capita rose 8.2 per cent year-on-year to USD 11,176, while headline GDP grew by 6.5 per cent. Moody's said India's robust economic growth contributed to a 17 per cent increase in total insurance premium revenue
Union Minister Ashwini Vaishnaw on Thursday underlined the need to maintain steadfast focus on the nation's goals and economic growth, advocating an approach of self-reliance and a firm resolve to navigate the global turbulence. Speaking at the 12th Annual Public Affairs Forum of India (PAFI) event, Vaishnaw, Minister for IT, Railways and I&B, said an important question on the mind of every policymaker today is how to effectively deal with rapid changes unfolding globally at the moment. "So yes, these are very interesting times. We must keep our focus very clear on what we want to achieve in our country. How do we want to grow our economy, strengthen ourselves, so that the storm which is there in the world...we should be strong enough to absorb those and pass our ship through those big storms," he said. The Prime Minister has articulated a strong focus on growth supported by an approach of 'atmanirbharta' or self-reliance, the minister said during an interactive chat that ...
Finance Minister Nirmala Sitharaman has expressed confidence that revenue buoyancy driven by spurt in consumption will take care of the estimated GST shortfall of Rs 48,000 crore following reduction in tax rates on a host of items, and hence there will be no impact on public finances but definitely bolster GDP growth. She also emphasised that consumption boost to be provided by landmark GST reform and better-than-expected first quarter GDP growth number may help in exceeding the projected pace of 6.3-6.8 per cent for FY26. Asked about impact of GST rate cuts on fiscal deficit, Sitharaman said, Rs 48,000 crore financial implication is a static number based on a base year, but when it gets implemented, base situation changes. "So, I think the consumption spurt from September 22 will increase income buoyancy. To a large extent, this Rs 48,000 crore amount we will be able to make it up this year itself. So I don't see an impact on my fiscal deficit or my fiscal management. I will stick
Given the expectation of benign inflation, there may be a shortfall in nominal GDP growth compared to the Budget estimate of 10.1 per cent for the current financial year, Chief Economic Adviser V Anantha Nageswaran said. He expressed optimism about meeting the real GDP growth target of 6.3-6.8 per cent for the current fiscal year despite the US imposing a steep 50 per cent tariff on Indian shipments. Nominal GDP includes changes in prices caused by inflation, reflecting the impact of rising overall price levels, while real GDP is an inflation-adjusted measure that evaluates the value of all goods and services produced in a country during a specific year. Inflation is expected to be low on account of an estimated good kharif harvest and a reduction in prices of around 400 items after landmark GST reforms were approved recently by the GST Council headed by Finance Minister Nirmala Sitharaman. "Some shortfall in nominal GDP growth may be there. I think there is a higher chance of tha
India's sustained economic growth makes it an "anchor of stability for the world, which needs new engines of growth and development models that can be scaled and shared, Vice Chairman of NITI Aayog Suman Bery has said. Bery addressed the ministerial segment of the High Level Political Forum for Sustainable Development Goals at UN Headquarters on Monday. He said the world is navigating a period of significant economic shifts and uncertainty, which makes the international community's collective work on Sustainable Development Goals more critical than ever. The world needs anchors of stability, new engines of growth and development models that can be scaled and shared. India, with its unique strengths and experience, is ready and willing to offer all three. He underscored that India's sustained economic growth makes it an "anchor of stability for the global community and an example of what is possible. In an era of flux, India stands out as a vibrant democracy with steadily improving
India's economy, which is currently USD 4 trillion in size, is expected to be close to USD 30 trillion by 2047 and the country also has the advantage of younger demographics, G20 Sherpa Amitabh Kant said on Monday. He was speaking at a session on the sidelines of the International Air Transport Association (IATA) in the national capital. "The demographics are very young. The Western part of the world is ageing and Japan has already aged, even China is ageing. India is just 28 and even when we become 100, the average age will be 35 years. It is a country of baby boomers," Kant said. According to him, the country's economy will be close to USD 30 trillion in 2047. The country is a USD 4 trillion economy and just became the fourth largest economy in the world, he added. While emphasising about sustainable urbanisation, Kant said the country will see around 5 million people getting into the process of urbanisation and there will be a need to create 500 new cities in India. "You need
Ongoing tariff war triggered by reciprocal tariff by the Trump Administration provides an opportunity for India in some sectors, Chief Economic Adviser V Anantha Nageswaran said on Thursday. Addressing the CII Annual Business Meet here, he said India actually has a few silver linings which include low energy prices at the moment. Besides, he said, "regardless of how the tariff numbers will play out after 90-day expiration from the Liberation Day on April 2, or the 90 days given to China from May 12, etc, there will be some sectors where India did not enjoy an advantage before, it may enjoy an advantage later. That's also an opportunity from tariff perspective". The US on April 2 imposed an additional 26 per cent reciprocal tariff on Indian goods, but later suspended it for 90 days till July 9. However, Indian goods still attract the 10 per cent baseline tariff imposed by America. Meanwhile, both India and the US are in discussions to close a bilateral trade agreement. Both sides