S&P Global Ratings on Monday raised India's growth forecast for the current financial year to 6.4 per cent, from 6 per cent, saying that robust domestic momentum has offset headwinds from high food inflation and weak exports. The US-based rating agency, however, has cut growth estimates for the next fiscal (2024-25) to 6.4 per cent, as it expects growth to slow in the second half (October-March) of the current fiscal, on higher base impact and subdued global growth.
Addressing a press conference virtually, India Meteorological Department Director General Mrutyunjay Mohapatra said September was likely to witness normal rainfall in the range of 91-109 per cent of the long period average of 167.9 mm.
More than half (56 per cent) of chief economists expect the global economy to weaken in 2024, with most saying the pace of geo-economic fragmentation will accelerate, according to the latest "Chief Economists Outlook" released on Monday at the World Economic Forum (WEF). The report indicates that the global economic prospects remain subdued and uncertain. Challenges include tight financial conditions, geopolitical rifts, and the rapid development of generative artificial intelligence (AI).
'I hope that Macho Man agrees to debate her, because I think she will do spectacularly well in the debate.'
Prime Minister Modi on Saturday left for Egypt after concluding his state visit during which he held wide-ranging talks with President Joe Biden and addressed the joint session of the US Congress.
India is the second most optimistic nation.
Several hundred students from Mumbai schools including 20 school-cricket teams, got the opportunity to take photographs with the ICC Men's Cricket ODI World Cup Trophy at the Bombay Scottish school situated at Mahim, north central Mumbai.
Market participants said expectations of a rise in interest rates by the RBI and US Fed's comments on its stimulus programme are likely to keep the market nervous in the week ahead.
In recent months, several pharma multinational corporations (MNCs) are increasingly turning to Indian companies to expand market reach in the country's pharmaceuticals sector. Sanofi's partnerships with Dr Reddy's, Cipla, and Emcure, AstraZeneca and Mankind Pharma - teaming up for asthma medication distribution - are a few instances of this trend. This strategy allows MNCs to leverage established Indian networks and reach a wider audience. Indian companies also benefit from global brands and expertise, say analysts.
National Security Council Coordinator for Strategic Communications (NSCCSC) John Kirby on Tuesday told a press conference in Washington, DC: "India will be a critical strategic partner for the United States in the coming decades."
33 per cent of all road accidents and 35 per cent of fatal accidents took place on national highways and expressways.
Navy chief Admiral R Hari Kumar on Monday flagged concerns over growing geo-political power play in the Indo-Pacific, and noted that the US-China rivalry in the region is likely to be a "marathon".
Uppal, 43, was detained last week in that country and the ED authorities are in touch with the Dubai authorities to get him deported to India, they said.
The delegation visiting India during September 5-8 will be led by assistant secretary of state for South and Central Asian affairs Donald Lu.
G P Sharma, President (Meteorology) of the Skymet Weather said the Long Period Average of the rainfall during June to September will be 103 per cent with an error margin of plus or minus 5 per cent.
Prabowo was accused in the late 1980s of making a number pro-democracy activists mysteriously disappear and for human rights abuses in the provinces of East Timor and Papua and was denied a visa to the US.
Cognizant Technology Solutions has restructured its global growth markets (GGM) by appointing two internal leaders who will now share the responsibility. The move follows the exit of former GGM leader Rob Walker last month and is among the slew of leadership changes the company has seen in the recent past. GGM refers to the company's emerging markets outside of North America.
The general elections in April/May 2024 are expected to add volatility to the Indian markets, keeping investors on their toes.
As the southwest monsoon continues to narrow its overall deficit, the India Meteorological Department (IMD) on Wednesday exuded confidence that the dreaded El Nino weather pattern was unlikely to affect monsoon rains this year.
The Trump regime has informed the Congress that it 'strongly supports' transfers of F-18 and F-16 fighter proposals put forth by Boeing and Lockheed Martin respectively.
The leaders of the Quad comprising India, the United States, Australia and Japan are set to demonstrate that the grouping is a 'force for global good' and has a unifying commitment to a rules-based international order amid China's increasingly intimidatory behaviour.
The world needs to wake up to this new dimension of war at sea and be prepared to face the 'unknown enemy' who have the advantage of attacking at their choice of location and time, cautions Commodore Venugopal Menon (retd).
Several global models are predicting El Nio to appear around the second half of the year, which are the crucial rain-bearing months.
Meanwhile, Israel has expressed its "deep disappointment" with China's response to the war.
India is expected to contribute 15 per cent to the global growth in 2023, an International Monetary Fund (IMF) official said on Tuesday. "Both India and China are expected to contribute 50 per cent of the global growth in the upcoming year (2023). "However, the share of India's contribution to global growth is expected to be around 15 per cent," Krishna Srinivasan, director, Asia and Pacific Department (APD) at IMF said at a roundtable with reporters from south Asian countries.
Indian policymakers must realise that in buying small quantities of equipment, it becomes hard to start manufacturing them in India, explains Ajai Shukla.
Rainfall in August is predicted to be below normal (less than 94 per cent of LPA), but the situation is expected to improve comparatively in September, the IMD said.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Fundraising via initial public offers (IPOs) dropped 52.2 per cent to $147.2 billion in the first eight months of calendar year 2023 (CY23), suggests a recent report by GlobalData, a London-based analytics and consulting company. At the country level, the report suggests, India topped the charts with 152 transactions worth $3.8 billion during this period, primarily due to a higher number of SME IPOs, followed by the US with 99 deals totaling $16 billion, while China ranked third with 88 transactions worth $32.3 billion. "An analysis of GlobalData's Deals Database reveals that there were 750 IPO listings registered with an aggregate deal value of $147.2 billion in the first eight months of 2023 on the stock exchanges worldwide.
S&P Global Ratings on Monday cut India's economic growth forecast for current fiscal year to 7 per cent, but said the domestic demand-led economy will be less impacted by the global slowdown. S&P had in September projected the Indian economy to grow 7.3 per cent in 2022-23 and 6.5 per cent in next fiscal year (2023-24). "The global slowdown will have less impact on domestic demand-led economies such as India... India's output will expand 7 per cent in fiscal year 2022-2023 and 6 per cent in next fiscal year," S&P Global Ratings Asia-Pacific chief economist Louis Kuijs said.
The El Nino impact on the Indian monsoon typically manifests by way of extended break in rainfall.
Pompeo would leave for New Delhi on June 24.
India is likely to experience below-normal monsoon rainfall this year, with a 20 per cent chance of drought due to the end of La Nina conditions and the potential for El Nino to take hold, private forecasting agency Skymet Weather said on Monday.
United States President Joe Biden will travel to India from September 7 to 10 to attend the G-20 Leaders' Summit during which he will discuss with other leaders a range of global challenges, including the Ukraine conflict, the White House announced on Tuesday.
Above-normal heatwave days are predicted in most parts of central, east and northwest India during this period.
East and northeast India recorded 29 per cent rain deficit -- 141.5 mm against the normal of 199.9 mm -- from March 1 to May 3.
Scientists had earlier said the cyclone pulled the moisture and convection, impacting the intensity of the monsoon and delaying its onset over Kerala.
Prime Minister Narendra Modi Thursday made a strong push for reforming multilateral institutions, including the United Nations, and spoke glowingly of India's ties with the United States, saying the two countries stand at a new dawn in their relationship that will not only shape their destiny but also that of the world.
Jaishankar, who arrived in Santo Domingo on his first official visit to the Dominican Republic, also said that India has seen a dramatic expansion in connectivity, contacts, and cooperation across the region.
Prime Minister Modi also made a veiled reference to China, saying the global order is based on the respect for the principles of the UN Charter, peaceful resolution of disputes, and respect for sovereignty and territorial integrity.
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