Page 50 - Indian Economy

BS BFSI Summit: RBI action on some NBFCs warranted, says K V Kamath

Kamath said that the Reserve Bank of India's action on unsecured lending and non-banking finance companies (NBFCs) was warranted

Indian Tea Association suggests quality grading system for packet tea

About 75 to 80 per cent of tea consumption has shifted to the packaged format

BS BFSI Summit: Tracking food inflation as well as US Fed, say economists

BS BFSI Summit: While food inflation is a prominent factor in India's economic policy, global influences, particularly from the US Fed, cannot be overlooked, say economists at Business Standard summit

BS BFSI Summit: Why go to Mauritius, come to GIFT City, say fund managers

BS BFSI Summit: As GIFT City gains traction, panellists agreed it is well-positioned to become a key player in international finance, transforming India's role in the global financial landscape

India will become $35 trillion economy in next 25 years: Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal on Friday said India's growth story will take the country's USD 3.5 trillion economy now to USD 35 trillion in the next 25 years. Addressing the inaugural session of Amazing Goa Global Business Summit 2024, Goyal said that the 21st century belongs to India and it was on track to become the third largest world economy in three years. Chief Minister Pramod Sawant, former Union minister Suresh Prabhu and others were present during the inaugural function of the summit, an initiative of the Vibrant Goa Foundation. "Prime Minister Narendra Modi has rightfully said the 21st century is India's century. He also said that the 21st century has stopped being small. What we do today is the best and the biggest," Goyal said. "We are working with a focused approach to make India a developed and prosperous nation by 2047 when we celebrate 100 years of Independence," he said. He said India's growth story will take the economy from USD 3.5 trillion

Education: The secret sauce that helped China in beating India at growth

Thanks to a 50-year head-start in exposure to Western learning, India had a student population that was eight times bigger than China's at the turn of the 20th century

Banks' credit-deposit ratio on downward trend, at 79.5% on Sept 20

Banks have intensified efforts to strengthen their liability franchise

India's smartphone market becomes second largest globally by unit volume

In Q3 smartphone shipments, India accounted for 15.5 per cent of global shipments, second only to China, which led with a 22 per cent share

Reimagining agriculture's role in economic development and growth

An agriculture worker in China generates merely one-fourth of the income generated by a non-agricultural worker. India and Vietnam are close to China while Indonesia shows lower disparity

BS BFSI Summit: MF CIOs flag market risks, stress need for diversification

BS BFSI Summit: Certain pockets may present risks, but the broader market is not in bubble territory, say leading mutual fund CIOs. They also highlight the need for diversified investment portfolios

Managerial roles waning in formal manufacturing sector, shows ASI data

Experts attribute the changing nature of the manufacturing workforce to the adoption of automation in various administrative job roles and increasing contractualisation by producers

Rising small-loan defaults may throw risk into India's broader economy

Personal-loan growth is moderating as the central bank last year clamped down on risky lending practices following a post-pandemic surge in credit

India's EV market sees festive season boost, reversing recent slump

This year has seen the EV sector on a roll, as it took only 10 months to hit the 1.5 million mark-a feat that took a full 12 months last year

Indian economy expected to follow its natural course of modest growth

India's economy has long been characterised by modest growth cycles, rarely experiencing recession, but also failing to achieve sustainable acceleration

41% workers on contract in formal manufacturing sector in FY23: ASI data

Contract workers are employed by an industrial establishment through contractual agreements for a specified period or task

Statsguru: Delhi AQI worst among major cities after Diwali celebrations

Delhi experienced a significant drop in air quality following Diwali, marking a stark contrast to relatively clearer skies over the past two years

Trade gains or headwinds? Experts debate US election's impact on India

Experts say higher trade curbs under Donald Trump could hurt India's export competitiveness

Six industries contribute over 50% of formal sector manufacturing GVA: NSO

According to NSO data, this highlights the skewed nature of productivity

Freight corridors driving equitable economic growth across India: Study

The dedicated freight corridors of the Indian Railways have had a social-equalising effect with states that have a lower per-capita GDP experiencing significant benefits, a study by the University of New South Wales, Australia, has revealed. This suggests that the corridors are helping bridge the economic gap, offering a path towards more equitable economic growth across the country, it stated. Though the study, published in Elsevier Journal, focused on the Western Dedicated Freight Corridor (WDFC) for the financial year 2019-20, experts say that overall, it benefits several industries and consumers, giving a big push to the Indian economy. The study said the dedicated freight corridor gives financial benefits to all regions of the country. However, areas closer to it gain more due to a significant reduction in the travel cost, it said. "The model finds a universal decrease in the cost of freighting, with GDP improvements being observed in regions with the greatest decreases in cos

Climate change to put APAC GDP on thin ice with 41% melt by 2100

India alone could face 24.7% loss in GDP by 2070