Page 5 - India Economy

India to remain fastest growing major economy with 6.5% growth in FY26: IMF

Multilateral financing agency International Monetary Fund (IMF) has said that India will retain its position as the fastest-growing major economy by clocking a GDP growth of 6.5 per cent in 2025-26, on the back of robust private investment and macroeconomic stability. India's strong economic performance, the IMF said, provides an opportunity for the country to advance critical and challenging structural reforms to realise the ambition of becoming an advanced economy by 2047. "Real GDP is expected to grow at 6.5 per cent in 2024-25 and 2025-26, supported by robust growth in private consumption on the back of sustained macroeconomic and financial stability. According to the second advance estimate released by the Indian government, the country's economy is expected to clock a growth rate of 6.5 per cent during 2024-25. Headline inflation is expected to converge to target as food price shocks wane," the IMF said after Article IV consultations with India. The IMF statement also underli

Pvt sector, edu reforms critical in journey to developed nation: Experts

Laveesh Bhandari, CSEP President, said that he is not bothered about economic growth going up or coming down a bit but about medium- to long-term growth

India's economic reset underway but clock is ticking: Experts at BS Manthan

India's economy is growing, but seizing its full potential means spurring corporate investment, tackling judicial delays and ensuring inclusive growth, said panelists on the first day of BS Manthan

India's developmental model could be template for others: CEA Nageswaran

India's developmental experiences could be a template for other countries, Chief Economic Adviser to the government Dr V Anantha Nageswaran told a seminar of leading South African and Indian expatriate business leaders here. Nageswaran was the keynote speaker at the seminar organised jointly on Tuesday by the Indian High Commission, the Consulate General in Johannesburg and the CII India Business Forum, which represents over 150 Indian companies invested in South Africa. India is a country with the largest population trying to transform itself into a developed nation within the context of a democratic polity and also within the context of a federal governance structure. Therefore, India's experiences will be very useful templates for many countries, including (South Africa), Nageswaran said. India will forever be a land of excitement, opportunities and a land where many public policy paradigms are created for other countries to learn from as we journey from three trillion to 13 ...

'Aatmanirbhar means readiness for uncertainty', says Principal Secy to PM

BS Manthan: PK Mishra, principal secretary to the Prime Minister of India, believes the country must adopt an 'anti-fragile' approach in an uncertain world

Worst over for India's economy, Q3 GDP growth seen at 6.2%: Deutsche Bank

The worst seems to be over for the Indian economy's growth trajectory, a German brokerage said on Thursday. GDP growth, which had slipped to a seven-quarter-low of 5.4 per cent in the September quarter leading to a lot of concerns over the economy's strength, is likely to rise to 6.2 per cent in the December quarter, the report by Deutsche Bank said. "We think the worst is over as far as India's growth trajectory is concerned but, even with the improvement of momentum, overall GDP growth is likely to remain below the potential growth rate of 7 per cent in FY26," the bank's analysts said. In the report which comes a day ahead of the release of official data on economic performance, the analysts also said that we have to be cautious about the forecasts as there can also be a revision in previous years' data. The brokerage added that its leading indicator derived from 65 high-frequency indicators is also pointing towards a 6.2 per cent growth. The Reserve Bank is likely to deliver ..

Is agriculture India's strength or weakness? Panel to debate at BS Manthan

At the second edition of BS Manthan, Business Standard's annual flagship summit, experts will debate whether agriculture is India's strength or weakness now

Will set up deregulation commission to reduce govt's interference: PM Modi

Prime Minister Narendra Modi on Saturday said the government will constitute a deregulation commission to further reduce the role of the state in all spheres of governance. Speaking at ET Now Global Business Summit, Modi said the government has ended hundreds of compliances and now through Jan Vishwas 2.0, more archaic compliances are being reduced to promote ease of doing business. "It is my conviction that there should be less interference of the government in the society. For this, the government is also going to constitute a Deregulation Commission," he said. The NDA government through its policies have been able to replace 'Fear of Business' with 'Ease of Doing Business', he said. Acknowledging that the role of the private sector is very important in the journey for Viksit Bharat by 2047, he said the government has opened many new sectors including nuclear energy, space, commercial mining and power distribution systems for them to invest and bring in efficiency. He exuded ...

India fastest growing economy, inflation under control, says Vaishnaw

Earlier on Tuesday, in a significant boost to India's semiconductor ambitions, Union Minister Ashwini Vaishnaw informed about a major investment of over Rs 10,000 crore in India from Lam Research

Govt to roll out monthly unemployment figures from April for data accuracy

Until now, the government released only quarterly unemployment figures for urban areas and combined annual data for urban and rural areas

Repo rate cut sends 'strong' signal to markets on low borrowing costs ahead

Given the current economic landscape, moderating inflation, and sluggish growth, another 25-50 bps rate cut within this calendar year remains a strong possibility

Eco Survey primer: Dragon's growing shadow, sowing seeds of success, more

Quoting the Chinese proverb, "May we live in interesting times!" the Survey noted that it is especially relevant in today's turbulent world

Despite foreign money exodus, fund managers in Davos see India appeal

Foreign portfolio investors have withdrawn more than $31 billion from Indian equity markets since October, provisional exchange data shows

RBI injects Rs 1.5 trillion into economy: Markets rebound; what it means for you

The Indian stock market bounced back today, on January 28 after hitting a 7-month low in yesterday’s session.

Reforms, innovation drive India's global economic rise: Amitabh Kant

According to the International Monetary Fund (IMF), 75-80 per cent of the world's growth this year will come from the Global South, with India and Indonesia at the forefront of this surge

Private sector activity slows to 14-month low of 57.9 in Jan: PMI data

The index compiled by S&P Global fell to 57.9 in January from December's final reading of 59.2

Will maintain 6-8% economic growth, inflation under check: Vaishnaw

India will comfortably maintain a 6-8 per cent economic growth rate while keeping inflation under check in the years to come, senior Union Minister Ashwini Vaishnaw said on Thursday. Speaking at a session during the World Economic Forum Annual Meeting here, the minister said inclusive growth remains a key pillar of the country's economic blueprint, alongside continued focus on manufacturing, services and simplification of laws. Inclusive growth has been a key reason for Prime Minister Narendra Modi coming back for a third term as he ensured that the benefits of the economic growth reached every section of society, the minister for railways, information and broadcasting, and electronics and information technology said. Vaishnaw said the talent available in India is unmatched across sectors and the world today trusts India because of its policies. Companies are shifting their factories and value chains to India, he added. Speaking at the same session, industrialist Sanjiv Bajaj said

Domestic composite materials industry to touch $2.8 bn mark by 2030: Report

Domestic composite materials industry is expected to grow at a 7.8 per cent annual growth rate to reach USD 2.8 billion by 2030, a report said. Composite materials or fibre-reinforced plastics (FRP) help in the circular economy as these are manufactured by combining multiple materials with different properties. The Indian composite materials market is estimated at USD 1.8 billion in 2024, FRP Institute said in its report. "The Indian composite materials market is likely to grow at a healthy CAGR of 7.8 per cent over the next six years to reach USD 2.8 billion in 2030," the Chennai-based body said. The major growth drivers for the industry will be increasing demand from sectors like electrical vehicles (EVs), renewable energy, transportation and construction industries, consumer and white goods, construction and defence. Government projects like smart cities, hydrocarbon, freshwater transportation, sewage treatment system, and rehabilitation of water and sewage pipelines will also

NITI Aayog member revises FY25 GDP growth projection for India to 6.5-7%

NITI Aayog member and renowned economist Arvind Virmani on Saturday said he has revised his GDP growth projection for India on the lower side for FY'25 due to rising global uncertainties and risks, particularly from the United States and China. Virmani, who had earlier predicted a GDP growth in the range of 6.5-7.5 per cent, adjusted the projection to 6.5-7 per cent now with high probability of it being sub-7 per cent, amidst heightened risk aversion stemming from global political and economic challenges. "My focus from the beginning of the year was 7 per cent plus-minus 0.5 per cent, which means 6.5-7.5 per cent. But now I am revising it to 6.5-7 per cent. The political uncertainties created by the US elections is much higher than I had anticipated," Virmani said. "The US election uncertainty has a domino effect, influencing Europe, China, and other regions, indirectly impacting India," he said on the sidelines of an interactive session with MCCI. He highlighted the significant ..

Surpassing Japan, India to become 4th largest economy by 2026: PHDCCI

India's economy is expected to become the fourth largest in the world by 2026, surpassing Japan, said industry body PHDCCI on Wednesday, as it projected the nation's GDP to grow 6.8 per cent in the current financial year ending March and 7.7 per cent in FY26. With the Indian economy growing resiliently over the past three years, it is expected to become the fourth largest economy in the world by 2026, surpassing Japan, said Hemant Jain, President, PHD Chamber of Commerce and Industry. Ahead of the Budget, the industry chamber also said the peak rate of income tax, which is currently applicable at 30 per cent on income above Rs 15 lakh, should be applied only to individuals having income above Rs 40 lakh, whereas the income tax exemption limit should be increased to Rs 10 lakh, arguing that boosting consumption through more disposable income in the hands of people is essential. Besides, the PHD Chamber of Commerce and Industry (PHDCCI) expects the Reserve Bank to slash the bench-mark