Page 34 - India Economy

As world economy looks beyond China, India steps up as a new powerhouse

As powerhouses from China to Germany contend with slowing growth, the stakes are rising to find another nation equipped to propel the global economy

Financial conditions to be tighter due to Fed's decadal-high rates: Crisil

Liquidity conditions will also not return to surplus as seen in the pandemic years, which will maintain fundamental pressure on domestic interest rates

World Bank sees India growth slowing to 6.6% next fiscal from expected 6.9%

India's economic growth rate will slow to 6.6 per cent in next financial year from an expected 6.9 per cent in 2022-23, the World Bank said in its latest economic update. India however is expected to be the fastest growing economy of the seven largest emerging-market and developing economies (EMDEs), it said. The growth rate of 6.9 per cent in current fiscal year (April 2022 to March 2023) compares with 8.7 per cent in the previous year. For 2024-25, the growth rate is projected at 6.1 per cent. "The slowdown in the global economy and rising uncertainty will weigh on export and investment growth," it said. The government has increased infrastructure spending and various business facilitation measures. However, it will crowd-in private investment and support the expansion of manufacturing capacity. "Growth is projected to slow, to 6.6 per cent in FY2023/24 before falling back toward its potential rate of just above 6 per cent," it said. The GDP expanded by 9.7 per cent on an annua

Huge investments opportunities are there in India, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Monday said huge investment opportunities are there in India due to its large domestic consumption demand, rule of law and transparent economy. The minister is in the US for a three-day visit. India is a land of opportunity, and the Indian diaspora should take this message to the world, he added. "India offers huge opportunities due to its large domestic consumption demand, democracy, rule of law and transparent economy," Goyal said while addressing the Indian community at an event in New Jersey. He urged everyone to take this message to the world that India is the trusted partner in the supply chain and investment portfolio. He also called the diaspora for promoting made-in-India products and presenting India's investment opportunities to investors in the US. Goyal said transformational reforms that India witnessed over the last few years have made India the world's fifth-largest economy. He expressed confidence that in a few years

Top headlines: Tata Digital's loss up 6x, India's to grow at 6% in FY24

Business Standard brings you the top headlines at this hour

India's current account deficit in July-Sept rises sharply to 4.4% of GDP

Balance of Payments position sees depletion of $30.4 billion, says central bank

Investors must have moderate return expectations in 2023: Nippon India exec

Earnings could be challenging as global economic growth is weakening, says Sailesh Raj Bhan

Persistency ratio must improve for life insurance customers: CEOs at BFSI

Work done by life insurance industry led to economic revival amid Covid

Renewable energy sector to boom as investments may cross $25 bn in 2023

With an oil price shock threatening to derail economies globally, the focus has shifted to renewable energy with over USD 25 billion or Rs 2 lakh crore investment planned in India for using sunlight, water and air to produce energy. Oil and gas prices shooting through the roof in 2022 in the aftermath of Russia's war in Ukraine sent governments in import-dependent nations like India scrambling for options. Not just imports but a shift to renewables is also seen as a way to cut carbon footprint and meet net-zero targets. And so the government in 2022 aggressively pushed for the adoption of electric vehicles, the production of green hydrogen, manufacturing of solar equipment and energy storage in pursuit of its ambitious 500 GW renewable capacity target by 2030. India would have to add at least 25GW of renewable energy capacity per annum for eight years continuously to achieve the 500 GW target by 2030. At present, India has around 173GW of non-fossil fuel based clean energy capacity

BS BFSI Insight Summit: India's biggest BFSI Summit to kick off on Dec 21

The country's biggest BFSI Summit will feature some of the most prominent voices in India's economic landscape, including RBI Governor Shaktikanta Das, Deputy Governors, and SBI chairman

BS BFSI Insight Summit 2022: Leading economists to discuss recession fears

From Aditi Nayar the Chief Economist at ICRA to Mridul Saggar, professor of practice, IIM Kozhikode; formerly MPC Member and RBI ED, here is the full list of economists on BFSI panel

Revisiting international trade's role in domestic development

Unlocking trade-enabled economic development alongside tenets of development including gender equity, income inequality, infrastructure, and other SDGs is very much possible

Top Headlines: India's economic activity, online gaming policy, and more

Business Standard brings you the top headlines at this hour

Trade, economic interests drive India's foreign policy

How the oil price cap will actually play out is not clear, but our government remains unfazed because the cost of crude is anyway on a downward trend

Indian households outdo emerging market peers on cutting debt levels

Only one among BRIC countries to have cut leverage to levels to pre-pandemic levels

Contribution of cesses to central govt's tax kitty doubles to over 18%

States have been concerned about increasing cases of Centre imposing cesses for garnering additional revenue

India's growth expected to slow in FY24 amid global slowdown: JP Morgan

India's GDP growth is on course to print close to 7 per cent this year in 2022-23, foreign brokerage, JP Morgan said in a report

CPI inflation eases to 11-month low of 5.9% in November; IIP contracts

Core inflation inches up; manufacturing activity declines

India has to compete to gain from 'China Plus One' strategy: Eswar Prasad

Companies, investors around the world looking at India's policy trajectory, says the professor of trade policy at Cornell University

Rice production, telecom subscribers pull down GDP growth in Q2 FY23

Steel consumption, commercial vehicle sales and some other sectors help economy