Explore Business Standard
USB
Citing a better-than-estimated global growth outlook, lower global crude oil prices and robust services exports, a foreign brokerage has revised upwards its India growth forecast by 70 bps to 6.2 per cent for the current fiscal. House economists at Swiss brokerage UBS have already revised global growth projections upwards by nearly 50 bps to 2.6 per cent in 2023, led by China's early reopening, resilience in European data and revision in the US growth numbers. The domestic economy has clipped at 7.2 per cent in FY23, 20 bps higher than what was forecast earlier. On the FY23 GDP growth of 7.2 per cent, UBS Securities India chief economist Tanvee Gupta-Jain said the same was driven by the much higher than expected Q4 growth, which printed in at 6.1 per cent. The consensus expectation is 6 per cent growth in FY24 while the Reserve Bank pegs it at 6.5 per cent. There are upside risks to the country's growth forecast on the better-than-estimated global growth outlook, lower global oil
As the government plans to introduce two common types of charging ports for mobiles and wearable electronic devices, the Bureau of Indian Standards (BIS) has come out with quality standards for USB Type-C charging port, according to a senior consumer affairs ministry official. In the interest of consumers and to reduce e-waste, the Department of Consumer Affairs in consultations with the industry stakeholders is mulling mandating two types of common charging ports -- a USB Type-C charger for mobiles, smartphones, and tablets, and the other common charger for wearable electronic devices. "In the last meeting, a broad consensus had emerged among stakeholders on the adoption of USB Type C as a charging port for, smartphones, tablets, laptops etc. The BIS has notified standards for Type C charger," Consumer Affairs Secretary Rohit Kumar Singh told PTI. The Indian Institute of Technology (IIT)-Kanpur is studying single charging port for wearable electronic devices like watches, etc. Onc
Swiss brokerage UBS Securities said global investors are bullish on Indian equities market in spite of the 86 per cent premium it commands over emerging market peers and on the back of a 17 per cent outperformance so far this year. "India is one of only three markets to trade at a premium to its own history, (the other two being Thailand and the UAE)" despite it commanding an 86 per cent premium over its emerging markets peers, according to UBS Securities. In spite of the expensive valuations, most equity investors are quite optimistic, both from a cyclical and a structural perspective even though they see the economy losing the steam and printing in a 6.9 per cent growth this fiscal and a much lower 5.5 per cent next fiscal before settling at the long-run average of 6 per cent in FY25, UBS Securities said in a note on Tuesday. On Monday, its Wall Street rival Morgan Stanley said the Sensex would continue to outperform in 2023 with an average 10 per cent rally taking the benchmark .