Page 2 - Economy Growth Forecast

India to be in our top three growth regions by 2028: Danfoss India prez

The Indian market is poised to be among the top three growth regions for Danfoss globally, and the company will continue investing Rs 1,000 to Rs 1,200 crore over the next three years to drive localisation, a top official of Danfoss India, a wholly owned subsidiary of the Denmark-based Danfoss Group, said on Tuesday. Currently, the Indian subsidiary has moved into the top six in Danfoss' global rankings, recording strong double-digit growth in 2024, Danfoss India President Ravichandran Purushothaman said in a company statement. On Tuesday, Danfoss announced its financial performance, reporting sales of Euro 9.87 billion, with an operational EBITDA (earnings before interest, taxes, depreciation and amortization) margin of 11.3 per cent. "I am excited about our strong performance in Climate Solutions and Drives, particularly in high-growth markets such as data centers and marine electrification. We have maintained high investment in innovation, driving competitive solutions. I am prou

RBI article signals economic momentum rise in H2FY25 amid strong demand

High frequency indicators, like vehicles sales, air traffic, steel consumption and GST E-way bills, point towards a sequential pickup in momentum of economic activity during the second half of the fiscal 2024-25 and sustain moving forward, RBI Bulletin said on Wednesday. However, a strong dollar, driven by US economic resilience and trade policy pivots, could exacerbate capital outflows from emerging economies, push risk premiums higher, and intensify external vulnerabilities, said an article on 'State of the Economy' published in RBI's February bulletin. Economic activity momentum is poised to be sustained, strong rural demand is expected to receive a further fillip from the robust performance of the agriculture sector. Urban demand is also poised for a recovery, tracking decline in inflation as well as a boost to disposable incomes from the sizeable income tax relief announced in the Union Budget 2025-26. "...high frequency indicators point towards a sequential pick-up in momentum

IMF praises Pakistan PM's actions to strengthen economy through reforms

The International Monetary Fund (IMF) on Wednesday expressed support for decisive actions by Prime Minister Shehbaz Sharif's government for the betterment of Pakistan's economy. Pakistan and the IMF last year signed a USD 7 billion Extended Fund Facility (EFF) loan programme to help the cash-strapped country tackle its balance of payment issue while implementing tough conditions. IMF Managing Director Kristalina Georgieva, who met Sharif during the prime minister's visit to the United Arab Emirates, in a post on X said: I am encouraged by their strong commitment to Pakistan's IMF-supported reforms and support their decisive actions to pave the way to higher growth and more jobs for Pakistan's youthful population. The comments come amid the IMF team's visit to Pakistan to scrutinise the judicial and regulatory system as part of the ongoing USD 7 billion programme to address governance and corruption vulnerabilities. According to a statement from the PM Office, the premier held a ...

Budget a watershed moment in India's clean energy transition: Experts

Industry experts hailed steps for boosting clean energy like nuclear mission, incentives for critical minerals and renewable equipment in the Budget presented on Saturday by Union Finance Minister Nirmala Sitharman. Sitharaman announced a Rs 20,000-crore nuclear mission and duty exemptions for crucial minerals and capital goods for electric vehicles to step up energy transition. Rajat Verma, Founder & CEO, LOHUM said, The 2025 budget marks a watershed moment in India's journey toward clean energy sovereignty and circular economy leadership. The government's strategic vision for domestic manufacturing and critical minerals recycling demonstrates remarkable foresight in securing our sustainable future." The elimination of import duties on lithium-ion battery scrap, cobalt powder, and an array of critical mineral wastes unlocks unprecedented opportunities. Coupled with the duty exemption expansion to 63 additional capital goods for EV and mobile battery production, this creates a ...

Aiming to boost economic ties with US, engaging with Trump admin: Goyal

Bilateral trade between India and the United States, India's largest trading partner, exceeded $118 billion in 2023/24, with India registering a trade surplus of $32 billion

Rupee logs 9th straight week of losses, analysts expect more weakness

The rupee may touch the 86-per-dollar mark in the short term, said Jigar Trivedi, a senior analyst at Reliance Securities, who recommends buying the dollar-rupee pair on every dip

Asian Development Bank lowers India's growth forecast to 6.5% for FY25

The multilateral funding agency also revised downwards its forecast for the next financial year (FY26) to 7 per cent from 7.2 per cent estimated earlier

Asia tariffs could harm growth and disrupt supply chains, warns IMF

Tariffs could impede global trade, hamper growth in exporting nations, and potentially raise inflation in the United States, forcing the US Federal Reserve to tighten monetary policy, despite

S&P Global raises annual profit forecast on demand for analytics products

S&P Global now expects its 2024 adjusted earnings per share between $15.10 and $15.30, compared with the prior view of $14.35 to $14.60

India largest growing economy: IMF lists 3 focus areas for growth reforms

IMF Asia Pacific Department Director Krishna Srinivasan suggested that India's reform priorities should be in three areas: Jobs, existing trade barriers, and infrastructure sector

IMF retains India's GDP growth forecast at 7% for FY25, 6.5% for FY26

For India, the October outlook projects a headline inflation figure of 4.4 per cent for FY25 and 4.1 per cent for FY26

China's Q3 economic losses from natural calamities surge to $32.3 billion

In September, the financial hub of Shanghai was brought to a standstill by Typhoon Bebinca, the most powerful tropical cyclone to directly hit the city in 70 years. Earlier that month, Super Typhoon

Indian bond yields expected to rise ahead of debt auction, US yields impact

Data showed US retail sales rose 0.4 per cent last month, above the 0.3 per cent estimate of economists polled by Reuters, and after an unrevised 0.1 per cent gain in August

Economists delay India rate cuts to 2025 after Sept retail inflation spike

Food inflation, which accounts for nearly half of the consumption basket, rose to 9.24 per cent in September, compared to 5.66% a month prior

IMF warns global public debt to exceed $100 trillion amid spending surge

The IMF's latest Fiscal Monitor report showed global public debt will reach 93 per cent of global gross domestic product by the end of 2024 and approach 100 per cent by 2030.

Israel finance ministry slashes growth forecast as war in Gaza hits economy

Gross domestic product will rise 1.1 per cent, according to updated figures on the ministry's official website, down from the previous figure of 1.9 per cent

India's GDP growth likely to have moderated in June quarter: Analysts

Slowdown in key drivers due to LS polls and high base effect: Analysts

Unique tax payers trading on NSE more than tripled since pandemic

Numbers are 40 per cent lower than the number of overall investor accounts

S&P Global Ratings retains India's growth forecast for FY25 at 6.8%

For FY26 and FY27, S&P projected India's economy to grow at 6.9 per cent and 7 per cent, respectively

Fitch Ratings raises India's growth forecast by 20 bps to 7.2% for FY25

The Indian economy grew at an impressive rate of 8.2 per cent in FY24, driven by a stronger-than-expected expansion of 7.8 per cent in the fourth quarter