Page 7 - Indian Economy

Bengal needs to plug into national economy: West Bengal FM Swapan Dasgupta

With one of the highest debt-to-gross state domestic product ratios, West Bengal has limited fiscal space, making central assistance critical

India's private sector activity fell to 4-year low in July: Flash PMI

Business activity weakened as sales and output growth moderated while inflationary pressures intensified amid renewed tensions in West Asia

Foreign firms rent 105 mn sq ft space since 2022 to establish GCCs in India

Foreign companies are actively setting up global capability centres (GCCs) in India, with nearly 105 million sq ft of prime office space taken on rent by them since 2022 across seven major cities, according to Colliers. Real estate consultant Colliers India on Friday released a report on 'GCCs in India: Global leadership through scale, competitiveness, talent & innovation'. "India continues to be the most preferred destination for GCCs, underpinned by its deep and diverse talent pool, cost competitiveness, robust technology ecosystem, and favourable business environment," the consultant said. There were more than 2,100 GCCs in India at the end of 2025 and the number is projected to grow at over 4,000 centres by 2030, as per the report. The rising number of GCCs is increasingly influencing office space demand. During January 2022 and June 2026 period, foreign firms, largely from the US, have rented 104.6 million sq ft of office spaces to set up GCCs across top-seven office markets.

Reviving the 1991 spirit: Reform lessons from then should not be ignored

Thirty-five years after the landmark 1991 Budget, India must revive the reform spirit with fresh policy changes, stronger institutions and wider reforms beyond the economy

RBI sees resilient economy despite West Asia conflict, monsoon concerns

Reserve Bank of India said the economy remains resilient, supported by healthy demand and strong industrial and services activity, while warning that the Iran war and a deficient monsoon pose risks

India's GDP likely grew 6.4-6.6% in Q1 FY27 despite cost pressures: Icra

Economic activity rose to a 32-month high in June, but Icra expects GDP growth to moderate from 7.8 per cent in Q4 FY26 amid pressure on margins in key sectors

Why a weaker rupee is not necessarily a sign of economic weakness

A stable economy does not require a permanently stable exchange rate

India needs stable rules, should resist special concessions for FPIs

India needs long-term stable foreign investment. Ad hoc short-term concessions serve a limited purpose

Going beyond trickle-down: Rethinking value for 200 million consumers

The middle-income households will be spread evenly across population clusters, making up 63 per cent of households in the Big Six by 2031, 59 per cent in Boomtowns, 57 per cent in Breakout Cities and

Piyush Goyal addresses India-Estonia Business Forum, calls for deeper ties

He emphasised that India's strong growth trajectory, expanding manufacturing base, vibrant innovation ecosystem and progressive reforms present significant opportunities

Will continue to prioritise inflation, says RBI governor Sanjay Malhotra

"We have to watch out for monsoon… how it progress because a significant population depends on agriculture," he said

India to launch headline services output index within months: Govt

The proposed index will provide India's first official monthly measure of output across the services sector, complementing existing manufacturing indicators

Iran threatens to shut Bab el-Mandeb: What it means for India and the world

Iran has asked Yemen's Houthis to prepare for a possible closure of the Bab el-Mandeb Strait, raising concerns over its impact on global shipping, energy markets and trade

India overtakes US in PPP-based global savings, trails only China: Report

India's share of global savings rose from 3.3 per cent in 1992 to 10.3 per cent in 2025, placing it ahead of the US in PPP terms

West Asia tensions, weak monsoon key risks for Indian economy: RBI Governor

RBI Governor Sanjay Malhotra said inflation risks remain elevated due to West Asia tensions, rising oil prices and the possibility of a weak monsoon, even as supply-side pressures dominate

CBDT raises Cost Inflation Index to 384 for financial year 2026-27

The Cost Inflation Index for FY27 will apply from April 1, 2026, though indexation is now available only in limited cases involving certain land and building sales

India's million-plus cities reveal stark differences in jobs and pay

In building the first city-level portrait of urban work, the National Statistics Office has taken a step towards the evidence-based view that sound urban policy depends on

Monitoring measures: New services index will help gauge activity over time

Earlier attempts to construct a services production index were constrained by the absence of reliable monthly data

India's exports rise 15.5% in June, trade deficit widens to $30.43 bn

India's exports rose by 15.5 per cent to USD 40.41 billion in June, even as the trade deficit widened to USD 30.43 billion. Imports in June went up by about 31 per cent to USD 70.84 billion. During April-June this fiscal, exports increased 15.92 per cent to USD 129.32 billion, while imports rose 19.89 per cent to USD 216.18 billion. Gold imports in the first quarter of this fiscal year rose to USD 11.01 billion from USD 7.49 billion in April-June last year. India's exports to West Asian countries rose 7.29 per cent to USD 5 billion in June, Commerce Secretary Rajesh Agarwal said in a press briefing on trade data. Agarwal attributed the increase in the country's inbound shipments to higher imports of crude oil, electronics, machinery, and precious metals.

India giving new model of development to world: PM Modi in New Zealand

India's pace of development is unprecedented despite global challenges, Prime Minister Narendra Modi said on Saturday, asserting that the country is giving the world a new model of development. Speaking at an Indian community event titled 'Kia Ora Modi' in Auckland, also attended by his Kiwi counterpart Christopher Luxon, Modi said that the relationship between India and New Zealand is built on cherished memories, enduring friendship, shared values and a mutual commitment. "Amidst global challenges, the speed at which India is developing is unprecedented. Today, India is the world's fastest-growing major economy," Modi said, amid cheers and applause from the audience. Prime Minister Modi said India is giving the world a new model of development. "Today in India, billions of digital transactions are happening every month through UPI. India is touching new heights in drone technology and the space economy," he said, amid cheers and chants of 'Modi Modi'. Stating that the future of I