Page 23 - Economic Growth

India insurance sector growth pegged at 7.1% in 2024-28: Swiss Re

The expanding economy, growing middle class, innovation and regulatory support are driving the insurance market growth in India

Economic optimism doubles but tech, climate pressures accelerate: Survey

The proportion of CEOs who believe global economic growth will improve over the next 12 months has more than doubled since last year, the annual PwC Global CEO Survey showed on Monday. The survey, released on the first day of the World Economic Forum Annual Meeting here, also showed that almost half of CEOs do not believe their businesses will be viable in a decade amid acceleration of technology and climate pressures. The survey, which interviewed over 4,700 CEOs across 105 countries and territories, found that 38 per cent of CEOs are optimistic about global economic growth prospects in the next one year, up from 18 per cent in 2023. CEOs' expectations of economic decline have also tumbled from a record high of 73 per cent in the 2023 survey to 45 per cent. Despite ongoing conflicts, the proportion of CEOs who felt their company is highly or extremely exposed to geopolitical conflict risk fell 7 percentage points to 18 per cent. CEOs in most regions of the world were found to be

The geography of unequal growth

The weakness of lower-growth states in manufacturing and services needs to be corrected

5 ways to increase cyber resilience against increasingly diverse threats

All signs are that 2024 will be another challenging year, but by shifting practices and pursuing cooperation and best practice sharing, progress can be made

World Bank keeps India's FY25 GDP growth estimate unchanged at 6.4%

In its biannual 'Global Economic Prospects' report, the World Bank said India is anticipated to maintain the fastest growth rate among the world's largest economies

GDP growth data suggests a robust recovery

Economy-wide modelling while facing multiple exogenous shocks is clearly a task that is challenging and risky

Containing fiscal deficit at 5.9%: Low nominal GDP growth a challenge

The Budget had assumed nominal GDP to grow 10.5 per cent during 2023-24, but advance estimates have projected it to expand by just 8.9 per cent

UN report revises India's GDP projection downward to 6.2% for 2024

Despite revising the growth estimates for 2024 downward by 0.5 percentage points, the report projects a rebound in 2025, with a GDP growth projection of 6.6 per cent

Best of BS Opinion: Back to Sebi, The story of organising retail & more

Here is the best of Business Standard's opinion pieces for today

India's manufacturing PMI declines to 54.9 to hit 18-month low in Dec

Despite the decline, the December figure marked 30 months of the index remaining above 50. A survey print above 50 indicates manufacturing expansion, and below that, contraction

India's future hinges on the Gangetic plain

Sustaining the growth momentum seen in FY23 in the three states along the country's holiest river is key to realising Viksit Bharat@ 2047

CMS Info Systems reports 9.3% growth in retail consumption trends

In data shared with Business Standard, the company said the Y-o-Y growth in the October and November period has been at 12.5 per cent, pointing at robust growth in the third quarter as well

A difficult mandate

Sixteenth Finance Commission will have to do tough balancing

Maintaining the momentum

Several drivers will support growth

With localisation, electronics manufacturing to be $115 bn in 2024: Report

India's electronics manufacturing sector is set to grow 15 per cent to be worth USD 115 billion in 2024, with players continuing to focus more on higher levels of value addition in terms of components and development of products. The production of mobile phones, the poster boy of the country's electronics manufacturing, is expected to surpass USD 50 billion by March 2024 from around USD 42 billion in the previous financial year. Google's Pixel smartphone production in India from the first quarter of 2024 will complete the manufacturing presence of all global majors in the country. India Cellular and Electronics Association (ICEA) Chairman Pankaj Mohindroo said the total production of electronic goods in the financial year 2023-24 is estimated to reach USD 115 billion, buoyed by an exceptional contribution of mobile phones, which is estimated to exceed USD 50 billion in the current fiscal. According to data shared by the government, domestic electronics manufacturing increased over

India to be fastest-growing economy in 2024 after withstanding headwinds

India decisively withstood global headwinds in 2023 and is likely to remain as the world's fastest-growing major economy on the back of growing demand, moderate inflation, stable interest rate regime and robust foreign exchange reserves. Despite widespread pessimism witnessed among the developed nations and the worsening geopolitical situation, India recorded a gross domestic product (GDP) expansion of 6.1 per cent in the March quarter. The growth moved up to 7.8 per cent in the June quarter and was 7.6 per cent in the September quarter. For the first six months of this fiscal, the growth was 7.7 per cent. The growth momentum is expected to sustain in the December quarter, making India the fastest-growing major economy in the world much ahead of China. According to the latest growth projections of the Organization for Economic Cooperation and Development (OECD), which appear conservative, India will record a growth of 6.3 per cent in 2023, ahead of China and Brazil at 5.2 per cent

Govt's prudent fiscal policy to support economic growth: FinMin review

The FinMin report also highlighted that the relatively stable Indian rupee against the US dollar and other prominent currencies, and adequate foreign exchange reserves, add to the optimism

India likely to remain fastest growing major economy in 2024: Assocham

India is likely to remain the fastest-growing major economy in the world in 2024 on the back of strong consumer demand leading to a pick up in investment across sectors such as construction, hospitality and infrastructure including railways and aviation, Assocham said on Thursday. India retained the tag of the world's fastest-growing major economy, with its GDP expanding by a faster-than-expected rate of 7.6 per cent in the July-September quarter on booster shots from government spending and manufacturing. The country's Gross domestic product (GDP) growth of 7.6 per cent beat most estimates, including 6.5 per cent projected by the Reserve Bank of India (RBI). The growth compares to 6.2 per cent in the same quarter last year and 7.8 per cent expansion in the preceding quarter, official data released on Thursday showed. India's GDP growth beat China's 4.9 per cent rise in July-September, while the Western economies are getting crushed under high-interest rates and energy ...

FPI gross purchases hit a high in 2023 on strong earnings, economic growth

Foreign portfolio investors were net sellers in the first two months of 2023 but turned buyers in March amid moderating valuations

Inclusive growth

Inequality can affect economic prospects