Page 97 - Indian Economy

Festive demand ebullient, but miles to go on inflation front: RBI bulletin

High-frequency food price data for this month up to Nov. 13 indicates that cereal and pulse prices have increased further, while edible oil prices continued to decline, the RBI said

Record merchandise trade deficit in Oct likely to be a one-off: Analysts

India's merchandise trade deficit rose to an all-time high of $31.46 billion in October, widening sharply from the $19.37 billion print in prior month. Imports jumped from $65 billion from $53.8 bn

Exports up 6.21% to $33.57 bn in Oct; trade deficit high at $31.36 bn

India's exports rose by 6.21 per cent to USD 33.57 billion in October this year, as against USD 31.6 billion a year-ago, government data showed on Wednesday. Imports also increased to USD 65.03 billion in the month under consideration, as against USD 57.91 billion recorded in October 2022. The country's trade deficit in October stood at USD 31.46 billion. During the April-October period of this fiscal year, exports contracted by 7 per cent to USD 244.89 billion. Imports during the seven-month period fell by 8.95 per cent to USD 391.96 billion. Commerce Secretary Sunil Barthwal said the trade numbers in October reflect 'green shoots'.

NASDAQ can play key role in attracting global investors to India: Official

NASDAQ can play a key role in bringing much-needed investment into India from global investors, according to a top official of the American stock exchange. India has right now "over 200 very large startup companies that could go public in future" and that's unheard of anywhere else in the world, NASDAQ executive vice chairman Edward Knight told PTI in an interview on Tuesday. NASDAQ (National Association of Securities Dealers Automated Quotations) is a stock exchange that lists some of the world's largest technology companies, such as Apple, Microsoft, and Amazon. It is one of the world's oldest and second-largest stock exchanges by market capitalisation, after the New York Stock Exchange (NYSE). Knight noted that India has "a very strong legal system...very strong universities" and "all the ingredients that have produced and could continue to produce great early-stage companies, innovation and technological innovation". "But," he said, "you need capital and the capital needs of In

To be a developed nation by 2047, India needs to change a range of policies

For achieving over 8 per cent annual economic growth, the country will have to improve its human capital

Nine states record higher inflation rates compared to national average

Among the advanced economies, only the UK has recorded higher prices compared to India

The super power of longer work hours

'More hours' does different things at the level of individual, firm or country

Dominance and vibrancy: Is Indian business getting oligopolistic?

With cash in the bank and low debt, the bigger players may establish their dominance in markets that require scale, but that does not seem to mean smaller companies will do poorly, writes T N Ninan

Domestic demand to sustain India growth in the near term, says Moody's

Economy's strong second-quarter momentum continued in the third quarter, says agency's 'Global Macro Outlook 2024' report

Decoupling of emissions and GDP not yet achieved: RBI deputy governor Patra

Patra further said that central banks and financial institutions must actively address climate change, as it impacts their mandates of price and financial stability

11 states budgeted revenue deficit in FY24 amid tapering grants: Report

The 15th finance commission has recommended revenue deficit grants worth Rs 2.95 trillion for 17 states between FY22 to FY26

UBS upgrades India's FY24 real GDP growth estimate marginally to 6.3%

Foreign brokerage UBS on Wednesday upgraded its FY24 real GDP growth estimate marginally to 6.3 per cent. The brokerage's chief India economist Tanvee Gupta Jain said domestic economic activities are fairing better than expected, but added that managing the macro risks and next year's General Elections are the key factors to watch out for. "We expect growth momentum in the near term to get support from higher household spending during the ongoing festive season, buoyant credit growth and reallocation of government spending towards pro-rural pro-social schemes ahead of a tight election calendar, she said. Jain said she's upping her expectations despite slower global growth but added that the revised estimate is lower than the 6.4 per cent consensus. It can be noted that the Reserve Bank has estimated growth to come at 6.5 per cent for FY24, while Governor Shaktikanta Das recently said that the number for the July-September 2023 period will surprise on the upside. Jain said going ..

Fitch upgrades India's medium-term GDP growth projection to 6.2%

The ten emerging economies include Brazil, China, India, Indonesia, Korea, Mexico, Poland, Russia, South Africa, and Turkey

India likely to close discussions on 2 more IPEF pillars in US next week

According to government officials, the process for domestic approval for signing the supply chain resilience agreement is underway

Planning for megapolises: What to expect from infra boom in NCR and Mumbai

In time we might see the Indian equivalent of the Greater Bay area of southern China. It may be time to plan ahead for better outcomes than we have seen so far in India's cities, writes T N Ninan

What does it take to decarbonise India's industrial base?

Decarbonising India's industrial juggernauts is not a distant dream anymore

Raising receipts, accelerating economy's size key to address debt problem

The Centre's debt had risen by around ten percentage points of GDP during 2020-21 compared to the previous year, while the state's debt by little more than four percentage points of GDP

Two-pillar tax deal can help countries but needs a rejig to suit India

Tax in the time of digital

Tech-powered aspirations for Amrit Kaal

A decadal calendar of multiple such technology-powered goals for Amrit Kaal may be essential if Bharat is to realise the Prime Minister's vision of becoming a developed nation by 2047

October GST collection rises 13% to Rs 1.72 trn, second-highest ever

With this, the average gross monthly GST collection in FY24 now stands at Rs 1.66 trillion, an 11 per cent increase year-on-year, the ministry observed