All 39 constituents of the National Democratic Alliance (NDA) on Tuesday reposed faith in Prime Minister Narendra Modi and resolved to contest the 2024 Lok Sabha elections unitedly under his leadership.
tailwinds of a remarkable year and handsome investor returns, Indian equities are set for an eventful journey in 2024, with a slew of local and global cues -- varying from interest rates to Lok Sabha polls to geopolitical happenings. Analysts are of the view that the bull run in the domestic equity market will continue, and over the next 3-6 months, the benchmark indices -- Sensex and Nifty -- could climb up to 7 per cent. In 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent, and the NSE Nifty climbed 3,626.1 points or 20 per cent.
The Reserve Bank has told the International Monetary Fund (IMF) that the objective of frequent interventions in the forex market is to curb excessive volatility, dismissing the Fund's rationale for reclassifying India's exchange rate regime. The IMF, following the Article IV consultation with the Indian authorities, reclassified the status of the exchange rate regime to "stabilised arrangement" from "floating" for period between December 2022 to October 2023. India's Executive Director at IMF K V Subramanian and Senior Advisors Sanjay Kumar Hansda and Anand Singh questioned the selection period adopted by the Fund for analysis and also reclassification of the country's exchange rate regime.
The Indian economy is projected to grow at 6.3 per cent in current financial year aided by investment and domestic demand. According to a World Bank report released on Tuesday, India continues to show resilience against the backdrop of a challenging global environment. In India, which accounts for the bulk of South Asia region, growth is expected to remain robust at 6.3 per cent in 2023-24, India Development Update of the World Bank said.
The rupee depreciated by 9 paise and settled at its all-time low level of 83.13 against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency. Forex traders said the Indian rupee depreciated as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.
In 2013, the world gold exports were $283 billion approximately.
D&N cites positive changes in momentum in certain segments of economy, but says some areas of concern remain
Chief of Defence Staff General Anil Chauhan on Tuesday said the deployment of the Chinese military on India's northern borders is not increasing day by day.
As Chinese President Hu Jintao arrives in Washington, DC, to begin his four-day state visit, senior analyst B Raman takes a closer look on the attempts to redefine the relations between the two most powerful nations in the world.
The finance ministry has cautioned that global and regional uncertainties and domestic disruptions may keep inflationary pressures elevated in the coming months, warranting "greater vigilance" by the government and the Reserve Bank of India (RBI). "Russia's decision to terminate the Black Sea grain deal, along with dry conditions in major wheat-growing areas, caused a price spike in cereals. Domestic factors like white fly disease and an uneven distribution of monsoon exerted pressure on vegetable prices in India," the ministry said in its latest Monthly Economic Report for July, released on Tuesday. However, the report maintained, the recent price surge in certain food items "is expected to be transitory". "Tomato prices are likely to decline with the arrival of fresh stocks by the end of August or early September.
rediffGURU Rohit Gupta, co-founder and COO of College Vidya, offers expert advice on career programmes in India.
Manufacturing activities in India fell to a five-month low in September as new orders rose at a softer pace, which tempered production growth, a monthly survey said on Tuesday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) fell to 57.5 in September, down from 58.6 in August -- the lowest in five months. The September PMI data pointed to an improvement in overall operating conditions for the 27th straight month.
Tokyo had been seen as an early favourite, with Madrid hurt by Spain's ongoing economic woes and Istanbul suffering from anti-government protests, the escalating war in neighbouring Syria and a series of doping scandals.
'As part of our D33 strategy, the plan is to establish 30 unicorns in Dubai within the next 10 years.'
In nearly 100 seats, the BJP stands almost no chance of winning. In 200 seats, it is a direct fight between the BJP and the Congress where the BJP has an upper hand. In 243 seats, the BJP is pitted against regional parties and it is not going to be easy. That is why 400 seats may end up as a pipe dream, states Ramesh Menon, author of Modi Demystified: The Making of a Prime Minister.
He said countries should work for promoting open and inclusive cooperation for win-win outcomes.
If Indira Gandhi hadn't targeted the RSS, Narendra Modi wouldn't be sitting pretty with his second majority and looking at a third, asserts Shekhar Gupta.
China has spent half a century plotting to defeat America and in some respects, the Chinese military is already at par with the US armed forces, Haley said in a major policy speech on the economy in the key early primary State of New Hampshire on Friday.
The United States today is stronger at home and more respected in the world, Hillary Clinton has said in her last foreign policy speech as the secretary of state.
There were concerns in Sri Lanka about the huge trade imbalance.
The former Union minister asserted that an objective analysis of the political situation will lead to the conclusion that the Congress has to be the "pole" around which Opposition unity in the 2024 Lok Sabha election can be built.
GDP growth of 7.7 per cent in the first half of this fiscal has "left sceptics gasping and woefully behind the curve", an RBI article said on Wednesday. It also stressed the buildup in the growth momentum is likely to be sustained. The article on the state of the economy published in the Reserve Bank's December Bulletin on Wednesday also said CPI-based retail inflation is expected to ease to 4.6 per cent in the first three quarters of 2024-25 from 5.6 per cent in November.
Shehbaz Sharif, the younger brother of former premier Nawaz Sharif, is expected to become Pakistan's new prime minister as the coalition of leading political parties led by them is set to comfortably cross the simple majority mark to form the next government after elections produced a split mandate.
Singh emphasised that the Indo-Pacific is no more a maritime construct, but a full-fledged geo-strategic issue, and that the region is facing "a complex web" of security challenges, including boundary disputes and piracy.
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
There is no doubt that competition is increasing the world over, but there are cities that are more competitive than others.
By the year 2027, which marks the centennial of the founding of the People's Liberation Army, China will build a fully modern military, a goal that is in alignment with the national strength and will fulfil the future national defence need, state-run Global Times quoted Chinese analysts as saying.
China's assisting and arming Pakistan has made "it a second class enemy", but its economic strength overpowering India is not a real concern, according to Tata Group Chairman Ratan Tata.
'AI may perform tasks, but deep expertise and specialisation remain uniquely human.'
Kirby said India is a strong partner with the United States on many levels.
Calling India a 'growing world power', the United States has said that the country, which aspires to become a permanent member of the UNSC, remains a leader of developing nations and the Non-Aligned Movement in the post-Cold War era.
After a year's delay due to COVID-19, the 19th Asian Games officially opens in Hangzhou on Saturday with hosts China eager to lift a country mired in economic gloom.
A 'business-as-usual' approach will not work if the Indian economy is to achieve its long-term 9 per cent annual growth target, which is "very ambitious" in the backdrop of global uncertainties, Prime Minister Manmohan Singh.
In a surprise development, Pakistan Muslim League-Nawaz on Tuesday nominated its president Shehbaz Sharif as the prime ministerial candidate of Pakistan instead of the party supremo and three-time former premier Nawaz Sharif.
It's great to win election after election on the strength of Modi's charisma and voter appeal, but the larger the Modi myth grows, the more the BJP diminishes, notes Saisuresh Sivaswamy.
The general elections in April/May 2024 are expected to add volatility to the Indian markets, keeping investors on their toes.
Modi attended the 20th ASEAN-India Summit in Jakarta. Secretary-General of ASEAN Dr Kao Kim Hourn also attended the summit.
'The group commands 85 per cent of the global GDP, and if you are able to convey your point of view effectively to this group then you have reached more or less all the important players that matter.'
China has signalled that it will prevent India from assuming leadership of the Global South, observes Ambassador T P Sreenivasan.
