Page 28 - Indian Economy

Indian economy to surpass Germany, Japan in 3 years: NITI Aayog CEO

The Indian economy will be bigger than Germany and Japan in the next three years, and also it could become the second largest economy by 2047, NITI Aayog CEO B V R Subrahmanyam said on Thursday. Addressing an event here, Subrahmanyam further said India can become an education hub for the world as the single biggest advantage it has, keeping all other things aside, is its democracy. "Currently, the Indian economy is the fifth largest in the world. End of next year, we will be the fourth largest. Year after that will be the third largest," he said. According to the latest IMF data, size of India economy currently stands at USD 4.3 trillion. "We will be bigger than Germany and Japan in three years' time. By 2047, we could be the second largest economy (USD 30 trillion)," he added. Subrahmanyam urged Indian companies, including law firms and accounting firms to aspire to become world leaders. The NITI Aayog CEO noted that problems faced by middle-income countries are very different f

Kerala logged highest inflation in March, Telangana lowest, shows NSO data

Only states with a population of more than 5 million, according to the 2011 census have been taken into consideration

US is top trading partner of India in FY25; trade deficit with China widens

India's exports to the US grew by 11.6 per cent in 2024-25, rising to $86.51 billion, compared to $77.52 billion in 2023-24

States put up united front in fight for a higher share in divisible pie

Most governments, including those run by BJP, want the 16th Finance Commission to increase their share to 45-50 per cent from 41 per cent

Microfinance: Its rising importance and relevance in the Indian economy

Presently, MFIs account for around 40% of the portfolio while the remainder is shared by banks, SFBs and NBFCs. The overall portfolio touched Rs 4.4 trn with around 85 mn unique borrowers last year

ADB revises India's FY26 growth forecast to 6.7% amid US tariff risks

Risks could 'potentially be mitigated' by trade agreement between India and the US, it says in April outlook

India to be 6th largest insurance market by 2032, says FM Sitharaman

Sitharaman in a tweet highlighted decriminalisation and reduction in compliance burden for businesses and individuals among reforms undertaken by the government in the last ten years

RBI's rate cut to cushion economy amidst global turmoil, says India Inc

The Reserve Bank's move to lower its benchmark repo rate for the second time in a row will cushion India's economy against external shocks in the face of reciprocal tariffs imposed by the US that has triggered a global turmoil, industry bodies said on Wednesday. The RBI on Wednesday slashed the key interest rate by 25 basis points to 6 per cent providing relief to home, auto and corporate loan borrowers. CII Director General Chandrajit Banerjee termed the decision to continue with the rate easing cycle as timely and prudent. "The rate cut coupled with the shift in monetary policy stance from 'neutral' to 'accommodative', too, is a big positive," Banerjee said. The RBI's rate cut, and stance change reflect concerns about the impact of slower global growth on domestic economy and a relatively benign outlook for domestic inflation, he added. CII is of the view that RBI's accommodative monetary policy combined with the government's growth-centric fiscal policy will help boost domestic

India's growth trajectory remains strong, says FM Nirmala Sitharaman

"Our government remains committed to continued reforms, maintaining macroeconomic stability, and ensuring that growth benefits every section of society," she said

Piyush Goyal calls for 'economic nationalism' to boost local supply chains

The Minister's comments come as India positions itself as a viable manufacturing alternative amidst shifting global trade patterns

Datanomics: India's BoP moderately weakened even before Trump's tariffs

This happened because there was capital outflow of around $27 billion on a net basis between October-December against a net inflow of $36 billion during July-September in FY25

Govt approves four railway ministry projects worth ₹18,658 crore

These four projects, spread across 15 districts in Maharashtra, Odisha, and Chhattisgarh, will expand the Indian Railways network by approximately 1,247 km

India Inc evaluates impact of Trump tariffs; shifts focus to local market

India Inc leaders say they are turning their attention inward, seeking fresh investment opportunities in domestic markets

Rupee inches up as dollar index moderates on US economic growth concerns

The dollar index, which measures the strength of the greenback against a basket of six major currencies, dropped below the 102 mark on Thursday

Parl panel seeks Rs 400 daily MGNREGA wage, higher social security pensions

"Without a fair wage, the scheme fails in its objective of providing economic security to rural workers," the panel said

Semiconductors escape US tariffs, easing concerns for chip industry

Semiconductors were spared Trump's reciprocal tariffs, reflecting their key role in global supply chains, say industry experts

India needs planned deregulation to reduce government size, expenditure

The combined expenditure of the Centre and state governments increased hugely in 1980s-by almost 10% of gross domestic product (GDP) to 27 per cent of GDP by 1991, and has remained high since then

Telangana women, Goa men spent most time on job activities in 2024

Among union territories (UTs), men in Delhi spent the highest time (406 minutes) on 'employment-related activities'

US tariffs may hit agri, machinery, pharma, electrical sectors: Experts

Goods from sectors, including agriculture, precious stones, chemicals, pharma, medical devices, electricals, and machinery may get impacted if the US will go ahead with imposing reciprocal tariffs on Indian products, according to experts. They said that these sectors could face additional customs duties from the Trump administration because of the high tariff differential or gap, which is the difference between the import duties imposed by the US and India on a product. At the broad sector level, the potential tariff gaps between India and the US vary across the sectors. The gap is 8.6 per cent for chemicals and pharmaceuticals; 5.6 per cent for plastics; 1.4 per cent for textiles and clothing; 13.3 per cent for diamonds, gold, and jewellery; 2.5 per cent for iron, steel, and base metals; 5.3 per cent for machinery and computers; 7.2 per cent for electronics; and 23.1 per cent for automobiles and auto components. "The higher the tariff gap, the worse affected a sector could be," an

Trump's 'Liberation Day' countdown begins, world braces for tariffs impact

Trump has declared April 2 as 'Liberation Day', asserting that the tariffs will liberate the US from its dependence on foreign goods