Page 5 - Indian Economic Growth

PM Modi's weaker mandate to slow India's fiscal tightening, says Moody's

India's benchmark 10-year bond yield saw its biggest surge in eight months following the poll outcome

Election results: India's economic fundamentals remain robust, says Nomura

India's economic fundamentals remain robust, investment bank Nomura said on Wednesday after the results of the country's general elections paved the way for Prime Minister Narendra Modi's third consecutive term in office. Modi is poised to form the government for a third consecutive term with the BJP-led National Democratic Alliance (NDA) getting a majority in the Lok Sabha, notwithstanding crushing losses in three Hindi heartland states after a bitterly fought election that was projected as a referendum on his popularity. The Election Commission of India has declared results for all 543 Lok Sabha constituencies, with the BJP winning 240 seats and the Congress 99. "Our assessment is that India's economic fundamentals remain robust. Reforms in India have generally survived the test of politics and we expect the government to continue the pace of governance and administrative reforms, leaving states to work around the more intractable reforms around land and labour," Nomura said. Whi

Shankar Sharma's market strategy post Lok Sabha exit poll: Stay strapped in

Meanwhile, every government since 1991, Shankar Sharma said, has performed exceedingly well in different ways and with different strategies

Development path for India will not be the same as China's: CBC chairman

As India moves towards the mission of Viksit Bharat' and becoming a developed country by 2047, the development path for India will not be the same as that of China as they have a different environment and capabilities, Chairman of the Capacity Building Commission Adil Zainulbhai has said. Prime Minister Narendra Modi has laid out a vision of what India will be as a developed country and there is a lot of thinking in terms of we want this to be different, Zainulbhai said. The development path for India will not be the same as the development path for China. So for every article that compares China's growth with India's growth, India's growth for the next 25 years will not follow the China model. Because we can't, it's a different environment and India's capabilities are different, he said. According to the World Bank, China's strong growth has been based on investment and export-oriented manufacturing, an approach that has largely reached its limits, and has led to economic, social,

UN revises India's 2024 economic growth projection upwards to nearly 7%

The United Nations has revised upwards India's growth projections for 2024, with the country's economy now forecast to expand by close to seven per cent this year, mainly driven by strong public investment and resilient private consumption. The World Economic Situation and Prospects as of mid-2024, released Thursday, said, India's economy is forecast to expand by 6.9 per cent in 2024 and 6.6 per cent in 2025, mainly driven by strong public investment and resilient private consumption. Although subdued external demand will continue to weigh on merchandise export growth, pharmaceuticals and chemicals exports are expected to expand strongly. The 6.9 per cent economic growth projections for India in the mid-year update is an upward revision from the 6.2 per cent GDP forecast made by the UN in January this year. The UN World Economic Situation and Prospects (WESP) 2024 report that was launched in January had said that growth in India was projected to reach 6.2 per cent in 2024, amid robus

India's imports from FTA partners up 38% during 2019-24 fiscal years: GTRI

India's imports of goods from countries with which it has a free trade agreement like the UAE, South Korea, and Australia grew about 38 per cent during 2019-24 fiscal years to USD 187.92 billion, according to think tank GTRI. On the other hand, the country's exports to the FTA (free trade agreement) partners rose 14.48 per cent to USD 122.72 billion in 2023-24 from USD 107.20 billion in 2018-19. "From FY'2019 to FY'2024, India's imports increased by 37.97 per cent, from USD 136.20 billion to USD 187.92 billion. This growth highlights the significant and varied impact of free trade agreements on India's global trade dynamics," the Global Trade Research Initiative data showed. According to the data, India's exports to the UAE increased by 18.25 per cent to USD 35.63 billion in 2023-24 as against USD 30.13 billion in 2018-19, while imports surged 61.21 per cent, from USD 29.79 billion in FY2019 to USD 48.02 billion in the last fiscal. The FTA between India and the UAE came into effect

Indian economy projected to grow 6.5% in 2024, suggests UNCTAD report

India's economy is projected to grow by 6.5 per cent in 2024, according to a report by the UN which noted that multinationals extending their manufacturing processes into the country to diversify their supply chains will have a positive impact on Indian exports. UN Trade and Development (UNCTAD) in its report released on Tuesday said that India grew by 6.7 per cent in 2023 and is expected to expand by 6.5 per cent in 2024, continuing to be the fastest-growing major economy in the world. The expansion in 2023 was driven by strong public investment outlays as well as the vitality of the services sector which benefited from robust local demand for consumer services and firm external demand for the country's business services exports, the report said, adding that these factors are expected to continue to support growth in India in 2024. The report also noted the increasing focus by multinationals on India as a manufacturing base as they diversify their supply chains, a reference to ...

India's economy doing good, efforts needed to sustain it: Sanjeev Sanyal

India's economy grew by better-than-expected 8.4 per cent in the final three months of 2023 -- the fastest pace in one-and-half years

As India's GDP growth speeds up, can it drive the global economy?

With China's growth slowing, India could become the new engine of global economic growth, but it will take strategic investments, increased labour participation, and more to achieve its ambitions

India aims to attract $100 bn a year in FDI as it woos China hedgers

Boosting the share of manufacturing in India's economy has been one of the key promises made by Modi, who is seeking a third term in elections that start on April 19

Services PMI registers strongest growth in 13.5 yrs, rises to 61.2 in Mar

In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction

Lower inequality amid slower growth: A mixed bag

What other broad macroeconomic implications can be inferred from the household consumption expenditure survey factsheet?

Indian economy in distress but BJP doesn't understand, says Chidambaram

Senior Congress leader P Chidambaram on Thursday claimed that the Indian economy is in "severe distress" and alleged "the so-called doctors of the BJP" do not care. In a post on X, the former finance minister said the BJP claims that the Indian economy is in robust health in 2023-24, but has no explanation why net foreign direct investment (FDI) inflows have dropped by 31 per cent. FDI is a measure of the confidence that foreign investors have in a country, the government and its policies, he pointed out. Such confidence has declined sharply in 2023-24, Chidambaram said. "BJP gives certificates to itself. The good certificate must come from foreign and Indian investors. Indian investors have expressed no confidence in the policies of the BJP government during the last three years," he said. That is why the finance minister had to admonish them and, when that failed, beg them to increase their investments, the Congress leader said. He further said that foreign investors have reali

BS Manthan: India has long road ahead in green energy targets, say experts

Country's ambition of rapid economic growth must balance with its climate change commitments, they say at Business Standard summit

Indian economy can grow at 8% till 2047, reforms are key: IMF's Subramanian

Indian economy can grow at 8 per cent till 2047, if the country can redouble the good policies that it has implemented over the last 10 years and accelerate reforms, India's executive director at International Monetary Fund (IMF) Krishnamurthy Venkata Subramanian said on Thursday. Subramanian further said that clearly 8 per cent growth target is ambitious, because India has not grown consistently at 8 per cent before, but it is achievable. "So, the basic idea is that with the kind of growth that India has registered in the last 10 years, if we can redouble the good policies that we have implemented over the last 10 years and accelerate the reforms, then India can grow at 8 per cent from here on till 2047," he said at the Times Now Summit. India's economy grew at better-than-expected 8.4 per cent in the final three months of 2023, logging the fastest pace in the past one-and-a-half years. The growth rate in October-December helped take the estimate for the current fiscal to 7.6 per

Despite grounds for optimism, India economy is yet to hit high-growth phase

India's macroeconomic stability is impressive compared to many of its peers

'Our estimates & those on Tendulkar formula show poverty fall over 12 yrs'

The rate of poverty decline in percentage points was higher in urban areas in the Rangarajan-Dev estimates over this period than in SBI research

India's surprise GDP driven by more than just one-off factors, says CEA

The surprise 8.4% surge in gross domestic product was largely due to base effects related to subsidies, which boosted the net indirect tax category, CEA V Anantha Nageswaran said

India to become upper middle-income nation by 2031, to grow at 6.8%: CRISIL

Crisil Ratings on Wednesday projected India's GDP growth at 6.8 per cent in the next fiscal and said the country will become an upper middle-income nation by 2031 with the economy doubling to USD 7 trillion. In its India Outlook report, Crisil said the Indian economy will take support from domestic structural reforms and cyclical levers and can retain -- perhaps even improve -- its growth prospects to become the third largest economy by 2031. "After a better-than-expected 7.6 per cent this fiscal, India's real GDP growth will likely moderate to 6.8 per cent in fiscal 2025," said the Crisil India Outlook report. It said that the next seven fiscals (2025-2031) will see the Indian economy crossing the USD 5 trillion-mark and inching closer to USD 7 trillion. "A projected average expansion of 6.7 per cent in this period will make India the third-largest economy in the world and lift per capita income to the upper-middle income category by 2031," Crisil said. India, with a GDP size of

India, Indonesia bright spots for investment opportunities: BlackRock

US investment firm BlackRock sees India and Indonesia as two Asia-Pacific countries offering a lot of investment opportunities, its head of research for the region said on Tuesday