Page 26 - Indian Economy

Services sector growth steady in May as demand remains strong, shows PMI

New business - a key gauge for demand - expanded at a sharp pace in May, largely aligned with growth rates seen from February through April

Investments into equity MFs seen gathering pace in May, shows data

In May, MFs' net equity buying nearly trebled compared to April. MFs together bought ₹49,108 crore worth of shares in May, the highest in four months

RBI documentary series premieres on JioHotstar with first of five parts

The five-part series on the Reserve Bank of India explores its 90-year journey, covering its vision, achievements, and the critical roles it plays in India's economy

Indian economy to be close to $30 trillion mark by 2047: Amitabh Kant

India's economy, which is currently USD 4 trillion in size, is expected to be close to USD 30 trillion by 2047 and the country also has the advantage of younger demographics, G20 Sherpa Amitabh Kant said on Monday. He was speaking at a session on the sidelines of the International Air Transport Association (IATA) in the national capital. "The demographics are very young. The Western part of the world is ageing and Japan has already aged, even China is ageing. India is just 28 and even when we become 100, the average age will be 35 years. It is a country of baby boomers," Kant said. According to him, the country's economy will be close to USD 30 trillion in 2047. The country is a USD 4 trillion economy and just became the fourth largest economy in the world, he added. While emphasising about sustainable urbanisation, Kant said the country will see around 5 million people getting into the process of urbanisation and there will be a need to create 500 new cities in India. "You need

Datanomics: India closes in on Japan to be fourth-largest economy this year

India is likely to overtake Germany in 2028 as the third largest economy in the world, according to projections by the IMF

India fastest growing economy for fourth consecutive year: FM Sitharaman

India has remained the fastest-growing major economy for the fourth straight year, driven by strong manufacturing, services, and farm sector growth, the finance minister said

India's GDP growth likely accelerated in Q4 on rural demand, state spending

Rural consumption improved during the quarter, while urban demand indicators remained mixed

Trust, deregulate, and reciprocate to escape middle-income trap: CEA

Nageswaran also said India should not be overly consumed by global uncertainty, especially with a domestic economy where private consumption accounts for 60 per cent of GDP

Economists see global growth coming under strain; India story intact: WEF

Chief economists from across the world are the most optimistic about a strong economic expansion in South Asia, with India looking set to be the primary engine of growth in 2025 and 2026, a new survey showed on Wednesday. The chief economists, however, warned of the overall global growth coming under strain from trade policy shocks and AI disruption, the World Economic Forum (WEF) said in its latest 'Chief Economists Outlook' report. A majority of surveyed economists saw the current US economic policy as having a lasting global impact, with 87 per cent expecting it to delay strategic business decisions and heighten recession risks. The global growth outlook was divided, with weak prospects in North America, resilience in Asia-Pacific and cautious optimism in Europe. "The outlook for China remains muted, and the chief economists were divided over whether it will reach its target of 5 per cent GDP growth this year. "Optimism remains highest for South Asia, where 33 per cent expect .

Cong cites auto sales, says most Indians locked out of consumption economy

Flagging reported drop in the share of passenger cars in the overall auto sales, the Congress on Wednesday claimed that it points to a state of the economy where most Indians are locked out of the consumption economy, there is growing inequality, stagnant incomes and weak investment. Congress general secretary in-charge communications Jairam Ramesh shared a media report which claimed that while the middle class is increasingly unable to transition from two-wheelers to entry-level cars, the sport utility vehicle (SUV) segment is recording a rising share of first-time buyers. There was no immediate response from the government or the BJP on the claims. "India Inc is raising the siren once again -? this time for auto sales. In 2018-19, passenger cars made up 65% of total sales of vehicles -? that share is now only 31%. SUVs and multi-purpose vehicles now account for 65% of sales," Ramesh said in a post on X. Noting that car sales have long been considered an indicator of the economy's

India becomes 4th largest economy: What's driving this growth?

India has become the 4th largest economy in the world, overtaking Japan, NITI Aayog has reported, citing IMF data.

'We've a long way to go': Zerodha CEO on India as 4th largest economy

Nithin Kamath says India must focus on boosting labour participation, productivity, and R&D spending to achieve sustainable, long-term growth

Policy changes, swift decisions made India 4th largest economy: Chouhan

Union Minister Shivraj Singh Chouhan said on Monday that India's economy jumped from the 11th position in 2014 to the current fourth spot, due to policy changes and swift decision-making under Prime Minister Narendra Modi. On the second day of his Vikas Bharat Sankalp Padyatra' launched in his parliamentary constituency, Vidisha in Madhya Pradesh, he expressed confidence that the country would soon become the third largest economy and even bag the number one position in future. During his foot march, Chouhan interacted with people from Bijla Jod, Chanda Grahan Jod and Bhairunda villages over the Centre's public welfare schemes. The Union minister, who had a long stint as the chief minister of MP, said that he had embarked on the foot march to fulfil PM Modi's pledge of building a developed India (Viksit Bharat). In 2014, our economy was number 11 in the world, but under the leadership of PM Modi, it gradually reached the fifth position and now India has become the fourth largest ..

NITI Aayog nudges states to finalise intermediate targets for 2030, 2035

These include precise and achievable targets by 2030 and 2035, in addition to the broader 2047 target of making India a $30 trillion economy

India beats Japan, now fourth-largest economy: NITI CEO Subrahmanyam

IMF projects India's GDP to cross Japan's in FY25; NITI Aayog chief says India will surpass Germany in 2.5-3 years to claim third-largest economy spot

Agri output likely to propel India's Q4 GDP growth to 4-quarter high

Industrial sector expansion is, however, expected to remain subdued

Tariff uncertainties pose growth risks, says RBI Governor Sanjay Malhotra

The governor said India's domestic growth is supported by stable policies, healthy corporate balance sheets and strong macroeconomic fundamentals that bode well for the economy.

Fitch upgrades India's medium-term growth outlook to 6.4% till FY26

Fitch Ratings raises India's medium-term growth forecast to 6.4% citing higher labour force participation, even as it trims projections for most emerging markets

Nearly half of Indian consumers polled switching to private labels: EY

Indian consumers are re-evaluating their retail choices and nearly half of them are switching to private labels, according to an EY report which highlights heightened consumer expectations of value, trust and relevance from their purchase experiences. According to the latest EY Future Consumer Index (FCI) India edition, the growing preference for private label products is transforming consumer perceptions, positioning store brands as the favoured alternative to traditional branded options. The EY Future Consumer Index tracks changing consumer sentiment and behaviours across time horizons and global markets, identifying the new consumer segments that are emerging. The 15th edition of the EY Future Consumer Index surveyed over 1,000 consumers across India, between January 24, 2025, to February 20, 2025. The report said the growing preference for private label products is transforming consumer perceptions, positioning store brands as the favoured alternative to traditional branded ...

RBI seeks govt nod for bigger contingent risk buffer band after ECF review

Board to meet on May 23 to decide transferable surplus based on new range