Page 2 - Economic Growth In India

A fascinating chart

Compared to China and Africa, India is remarkably well positioned on multiple fronts

Office space demand likely at 50-55 mn sq ft across top 6 cities: Report

Office space demand in India's six major cities will remain healthy this year as domestic and foreign firms are expected to lease 50-55 million square feet area to expand their businesses, according to a FICCI-Colliers report. Gross leasing of office space stood at 58.2 million square feet across six major cities namely Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai and Pune. Industry body FICCI and real estate consultant Colliers India earlier this week released its report 'India Office: Repurposed to scale-up'. The report has given three scenarios for office demand forecast - optimistic, realistic, and pessimistic. In a realistic scenario, the gross leasing of Grade-A office space is estimated at 50-55 million square feet this year across these six cities. The demand could go up to 55-60 million square feet in an optimistic scenario, while the leasing numbers could drop to 45-50 million square feet in a pessimistic scenario. "India's office space demand is likely to breach th

India's economic growth probably slipped below 7% in Oct-Dec quarter

"Some moderation is expected in October-December GDP growth, with softer growth in manufacturing sector," said Gaura Sen Gupta, an economist at IDFC First Bank

Commendable eschewal of populist schemes: Motilal Oswal Fin Services CEO

Oswal states that buoyant economic activity, declining input costs, and strong corporate earnings growth will keep sentiment positive

Moving away from a disinvestment target: Dipam secy Tuhin Kanta Pandey

He said that of the Rs 30,000 crore miscellaneous receipt for FY24, the Centre expects to get about Rs 12,000 crore from asset monetisation and Rs 18,000 crore from disinvestment

Interim Budget 2024 supports economic growth story for India: USISPF chief

The Interim Budget 2024 is expected to undergo thorough scrutiny and debate in the coming days in Parliament as stakeholders assess its potential impact on the nation's economic trajectory

Aiming beyond 7% growth

India is not the world's fastest-growing economy yet, but a revival of the animal spirits could propel it into that position

Pvt investment to pick up from second half of FY24: CII President R Dinesh

'Headwinds are majorly all macro-economic and global issues. The larger challenge is the volatility'

India's GDP expands 7.6% in Q2; manufacturing, construction lead the charge

While the Reserve Bank of India (RBI) had projected GDP growth of 6.5 per cent for the second quarter of FY24, a Reuters poll of economists estimated it to be slightly faster, at 6.8 per cent

Momentum continues

Low nominal growth can pose challenges

Indian economy expected to sustain strong growth amid global gloom

India's is seen as the bright spot globally as some Western countries are flirting with the possibility of recession, while China, the world's second-largest economy, has slowed down

PM to virtually interact with 'Viksit Bharat Sankalp Yatra' beneficiaries

Prime Minister Narendra Modi will virtually interact with beneficiaries of the Viksit Bharat Sankalp Yatra on Thursday.The Viksit Bharat Sankalp Yatra is being undertaken across the country with the aim to attain saturation of flagship schemes of the government through ensuring that the benefits of these schemes reach all targeted beneficiaries in a time-bound manner.The Viksit Bharat Sankalp Yatra was launched by the Prime Minister on November 15 from Khunti, Jharkhand. As a part of On-Spot services under the Viksit Bharat Sankalp Yatra, Health Camps are being organized at the places of halt of the IEC Van in the Gram PanchayatsAs on 26 November 2023, 5,470 Health camps have been conducted in 995 Gram Panchayats reporting a total footfall of more than 7,82,000 people according to a PIB release.Under the flagship Pradhan Mantri Jan Arogya Yojna (AB-PMJAY) scheme of MoHFW for the Viksit Bharat Sankalp Yatra, Ayushman cards are being created using the Ayushman app and physical cards are

Rekindling corporate investment

To achieve the levels seen in 2008, it is essential to increase corporate productivity

S&P Global raises India's FY24 growth forecast on 'robust momentum'

A subdued global growth, unfavourable base effect and the lagged impact of rate hikes are expected to slow down the growth in the second half of FY24

FY24 to end with strong growth performance, macroeconomic stability: FinMin

The current financial year should conclude as projected with a strong growth performance and macroeconomic stability as more than half of this fiscal has witnessed positive developments in the economy, a finance ministry report said on Tuesday. The Reserve Bank of India (RBI) has projected a 6.5 per cent GDP growth in the current financial year ending March 2024. In the Monthly Economic Review for October, the ministry also said the downside risk will continue to be inflation that should keep both the government and the RBI on high alert. Financial flows in the external sector need constant monitoring as they impact the value of rupee and the balance of payments, the report said, adding that a fuller transmission of the monetary policy may also temper domestic demand. On the inflation front, it said the decline in international crude oil prices and continued moderation in core inflation are likely to control inflationary pressures going forward. Recognising this trend, the report

Economy lost momentum by 80-100 bps in Q2 to 6.8-7%, say analysts

The economy has likely decelerated by 80-100 bps year-on-year in the second quarter to 6.8-7 per cent, with utilities, services and construction sectors showing robust growth on the back of strong domestic demand, while external demand continues to remain weak, according to economists. In a note, ahead of the Q2 GDP data release on November 30, domestic rating agency Icra economist has pegged the GDP growth at 7 per cent, while British brokerage Barclays see it at 6.8 per cent. We estimate that Q2 FY24 expanded by 6.8 per cent year-on-year, slower than the 7.8 per cent in Q2 FY23, but still showing robust sequential growth. Underlying growth trends continue to look robust with activity underpinned by domestic consumption, high levels of state-led capex and strong growth in the utilities sectors, Rahul Bajoria of Barclays said in a note Tuesday. He expects the growth rates to be driven by basic utility sectors ( mining and electricity generation) and manufacturing, construction and .

GDP growth to dip slightly to 6.3% in 2024, LS polls key factor: Report

India's real GDP growth will decline marginally to 6.3 per cent in 2024 from the 6.4 per cent estimated for 2023, an American brokerage firm said on Monday. The next calendar year will be of two halves, wherein the government spending before the upcoming General Elections will be the key driver for growth, while after the elections, it will be the re-acceleration in investment growth, especially from the private sector, Goldman Sachs said in a report. From a fiscal year perspective, the brokerage said it expects growth to accelerate to 6.5 per cent for FY25 from the 6.2 per cent it has projected for the ongoing FY24, it added. "India has the best structural growth prospects in the region. We believe GDP growth is likely to stay robust at 6.3 per cent y-o-y (year-on-year) in 2024," the brokerage said, adding the country is less sensitive to potential external shocks like longer rates globally, persistent dollar strength and geopolitical uncertainties. The brokerage said risks around

India's GDP to grow 6-7.1% during 2024-2026, growth prospects strong: S&P

The report further said that the State Bank of India and leading private-sector banks have largely addressed their asset-quality challenges

CII outlines nine-track plan to transform southern parts of India by 2047

The Confederation of Indian Industries (CII) southern region will focus on nine tracks to transform South India by 2047, CII southern region chairman Kamal Bali has said. Inaugurating a new office of the CII here on Saturday, Bali said the southern region will focus on key enablers of growth that would propel the economic growth of the southern states, with the theme Transformation through Competitiveness, Growth, Sustainability, Trust and Globalisation' for 2023-24, a CII release said here. The nine-track plan of the CII includes 'people and culture rejuvenation,' 'holistic sustainability and environmental, social and governance (ESG),' 'tech adoption and digital transformation,' 'embracing energy transition, innovation and startup ecosystems,' 'manufacturing excellence,' 'partnerships and collaborations,' MSMEs', brand building' and 'sectoral promotion,' he said. Bali said the CII will work closely with the state governments in bringing state-level policies on manufacturing and ..

Manufacturing PMI at eight-month low in October due to decline in demand

According to the survey, growth eased in October due to competitive pressures despite an increase in new orders