Page 152 - Indian Economy

Foreign trade policy extended by six months amid global headwinds

An FTP is an elaborate policy guideline and a strategy to promote export of goods and services

Recovery tracker: Power generation, consumption lower than before

Decline also seen in vehicle registrations, railway freight growth

Indian economy showing resilience and recovery, says CEA Nageswaran

Chief Economic Advisor (CEA) V Anantha Nageswaran on Monday said the Indian economy was on the path to recovery but cautioned that foreign investors may remain cautious because of geopolitical challenges. Speaking at a virtual seminar organised by Swadeshi Research Institute, he said all sectors of the economy such as agriculture, manufacturing and construction are "doing well". "The Indian economy is showing resilience and on the path to recovery. Private demand and the services sector are doing better than expected," he said. Private capital formation is taking place, while foreign direct investment (FDI) flow is keeping steady, he said. However, there are challenges, and geopolitics is messy for which foreign investors are cautious, the CEA said. Noting that India has a "well-capitalised banking sector", the economist said, the Insolvency and Bankruptcy Code (IBC) also played a big part in "improving the health of the banking system" which had high NPAs due to the financial cri

OECD, S&P keep India's economic growth forecasts unchanged for FY23

S&P noted that India's domestic recovery from Covid-19 would continue to support growth in FY23

Gateway Partners sees over $1 bn investment potential in India in 5-10 yrs

Gateway Partners is planning to invest over USD 1 billion in the next five to 10 years in the booming Indian economy, according to a top company official. It has already invested over USD 250 million in several Indian assets over the past five years. "Over a billion US dollars over the next five to 10 years," V Shankar, co-founder and CEO of Gateway Partners told PTI on Monday when asked about his investment plans for India at the sideline of the Forbes Global CEO Conference in Singapore. "We are looking at tonnes of opportunities in India, said Shankar, adding he was very optimistic about the consumer-driven Indian market. He also noted that foreign investment flow into India was being encouraged by domestic investments, led by entrepreneurs in the infrastructure-industrial programmes and long-term economic development plans. Reflecting on the consumer spending in the country, he said Gateway Partners has just opened two outlets last in Delhi and the NCR region. Tim Hortons, a .

Govt looking to plug loophole in solar equipment import duty: Report

The central government is looking at ways to plug a loophole in regulations that are allowing solar power developers to avoid paying duties of nearly 40% on cells and modules

S&P projects India's FY23 GDP growth at 7.3%, pegs inflation above 6%

S&P Global Ratings on Monday projected India's economic growth at 7.3 per cent in the current fiscal with downside risks and said inflation is likely to remain above RBI's upper tolerance threshold of 6 per cent till the end of 2022. In its Economic Outlook for Asia Pacific, S&P said India's growth next year will get support from domestic demand recovery after the coronavirus pandemic. "We have retained our India growth outlook at 7.3 per cent for the fiscal year 2022-2023 and 6.5 per cent for the next fiscal year, although we see the risks tilted to the downside," it said. Other agencies have cut India's GDP growth forecast amid higher inflation and rising policy interest rates. Earlier this month, Fitch Ratings slashed the growth estimate to 7 per cent for the current fiscal from 7.8 per cent pegged earlier. India Ratings & Research too had reduced its projections to 6.9 per cent from 7 per cent earlier. Asian Development Bank has cut the projection to 7 per cent from ...

1 in 3 families may splurge over Rs 10,000 this festival season: Survey

LocalCircles report said CMIE had reported that the consumer sentiments decreased in August after rising in July

A renewed multilateralism

India has an opportunity over the next months and years to repair the stressed post-War order

Tax collections to continue rising trend in coming months, say experts

The trend of increase in income tax collection is expected to continue in the coming months on increased compliance, higher corporate profitability and increased trade in festive season, experts said. The gross direct tax collection grew 30 per cent to Rs 8.36 lakh crore in the April to mid-September period of the current fiscal on increased corporate tax and personal income tax (PIT) mop up due to increased economic activity. Deloitte India Partner Rohinton Sidhwa said the reason for rising tax collection, aside from the increase in economic activity, is attributable to the marked increase in compliance demonstrated by the number of returns filed. "The increase in compliance also stems from influencing behaviour like the sharing of details of income generating activity that taxpayers are being shown on the e-filing portal. "It's expected that the trend will continue for now. While corporate tax returns are still to be filed for the last fiscal, advance tax collections show strong

India matters more in current polarised world, says EAM Jaishankar

India matters more in the current polarised world and is perceived widely as the voice of the global South, External Affairs Minister S Jaishankar has said, asserting that New Delhi always speaks for many developing nations and highlights their pressing problems at international forums. Jaishankar wrapped up the New York leg of his visit to the US as he addressed the high-level UN General Assembly session on Saturday, concluding a hectic week of whirlwind diplomatic engagements during which he met over 100 of his counterparts from around the world and held several bilateral and multilateral meetings. "There's no question this UNGA reflects the state of the world, which is particularly polarised at this moment. What the state of the world actually reveals in a way is that India matters more. We are a bridge, we are a voice, we are a viewpoint, a channel," Jaishankar told a group of Indian reporters here as he highlighted some of the big takeaways of his week-long visit to the UN and .

Manmohan Singh extraordinary but Indian economy stalled under UPA: Murthy

IT czar and Infosys co-founder NR Narayana Murthy on Friday lamented that economic activities in India were stalled during UPA government

Citigroup sets India as high priority market amid rising China risks

The nation saw a record $82 billion in merger and acquisition deals in the second quarter, defying a slump elsewhere

Country's economy grows when rural sector is strengthened: Yogi Adityanath

Uttar Pradesh Chief Minister Yogi Adityanath on Thursday said the country's economy progresses when rural economy is strengthened. The chief minister was addressing a rural development exhibition organised by the Pandit Deendayal Upadhyaya Smriti Mahotsav Samiti in Mathura via video-conferencing from his official residence in Lucknow. "Deendayal Upadhyaya-ji had said that the standard of the economy of any country is judged by the economic condition of the person in the lowest rung," Adityanath said. He said emphasis has been laid on the use of technology to reduce the cost of farming and increase the production efficiency of agriculture. To bring happiness in the lives of farmers, programmes like Soil Health Card, Pradhan Mantri Krishi Sinchai Yojana, Pradhan Mantri Fasal Bima Yojana etc. are being run in the country, the chief minister said. He said his government has provided concessions on electricity bills of tube wells used by farmers. "The state government has collaborated

India, US 10-year yield spread at its lowest in 12 years, shows data

The current spread is nearly 142 bps lower than the 10-year average spread of 518 bps, and 66 bps lower than the 20-year average spread of 442.3 bps

Depreciating rupee not likely to cause fiscal slippage, say experts

Petroleum, fertiliser imports to become expensive, subsidy bill set to rise

Regulating Digital India

Discriminatory algorithms will be the most complex of challenges for regulators

Retail inflation in Sept to rise to five-month high at 7.4%: Deutsche Bank

India's headline retail inflation is expected to rise to a five-month high of 7.4% in September, with the risk of going higher if the momentum of food and vegetable prices picks up further in the rest

Is a re-rating on the cards for capital goods stocks?

Robust demand in economy -- aided by government spending -- has enabled capital goods companies to sustain strong order inflows. Takes a look at key factors which make analysts bullish on this space

India not so coupled with global economy, recession unlikely: S&P

Global rating agency S&P on Tuesday said even though the US and the Euro zone are headed to recession, India is unlikely to face the impact given the "not so coupled" nature of its economy with the global economy. "Indian economy is a lot decoupled from the global economy than we normally think of, given its large domestic demand, even though you (India) are a net importer of energy. But you have enough forex reserves on one hand and your companies have managed to maintain healthy balance sheets," Paul F Gruenwald, S&P global chief economist and managing director, told reporters here. In fact, India was never coupled fully with the global economy and so is relatively independent of global markets, he said, adding that a lot depends on how global fund flows behave if there is a recession in the US and Europe. Their inflation numbers continue to dodge the monetary actions by their central banks as the gap between the US core inflation target and the actual number is three times .