CAD touched a historic high of $88 billion in 2012-13.
The only path to recovery of the economy lies in profit growth that triggers off employment growth, and finally investment, notes Ajay Shah.
Foreign investors are betting top dollar on the country as growth is likely to recover at a time when other emerging markets are battling macroeconomic adjustments.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
India leads global remittances in the year 2013 with a whopping $70 billion in its kitty, of which USD 65 billion were earned from the country's flagship software services exports, the World Bank reported.
Expressing the government's commitment to continue with reforms, Finance Minister Nirmala Sitharaman on Thursday assured India Inc that it is ready to do everything required to revive and support economic growth hit by the COVID-19 pandemic. Stressing that there is a need to promote growth as it helps bring down poverty, she however said it would not be at the cost of inflation. RBI has been mandated to keep inflation at 4 per cent, with tolerance level of 2 per cent on either side.
The Enforcement Directorate has attached assets worth over Rs 14 crore belonging to the Gitanjali Group and its promoter and jeweller Mehul Choksi, one of the prime accused in the alleged over Rs 13,000 crore PNB loan fraud case. The properties attached, under the anti-money laundering law, include a flat measuring 1,460 sq feet located at O2 Tower in Goregaon area of Mumbai, gold and platinum jewellery, diamond stones, necklaces made of silver and pearls, watches and a Mercedes Benz car, the ED said in a statement. A provisional order for attachment has been issued under the Prevention of Money Laundering Act (PMLA) for the assets worth a total Rs 14.45 crore that are in the name of Gitanjali Group of companies and its director Mehul Choksi, it said.
To combat terror financing, India and the US committed to work together to check illicit money transfers.
'I don't think anybody would want to be in my position today where every head of State has to be explained that I am prioritising my country because there is a surge in cases.'
'Unless we start making the products we need, we cannot become a developed country or call ourselves an economic power.'
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India's trade deficit widened to $20.1 billion in May because of high gold imports while exports declined by over a per cent, raising concerns about economic recovery.
The Reserve Bank on Wednesday retained the GDP growth forecast at 9.5 per cent for the current fiscal but cautioned that the economic recovery is not yet strong enough to be self-sustaining and durable.
The benchmark BSE Sensex ended down 2.23 per cent. The Bank Nifty fell 3.59 per cent.
Tehran plans to lift exports by 500,000 barrels per day
'There will be a series of rate hikes, but the pace and quantum will depend on how the economy in the US and the rest of the world behave.'
A strong currency helps in fighting some of the import-led inflation.
India's likely medium-term potential growth will almost certainly be markedly lower than that experienced in pre-pandemic years, warns Shankar Acharya, former chief economic advisor to the Government of India.
Fitch Ratings says in a report published on Thursday that the spillover effects of a weaker rupee have not significantly hurt India's creditworthiness, and hence would not trigger any rating action as this point.
'Earning expectations remain strong.'
The industry alleges the government has been apathetic, despite their pleas for quick action. However, H2 may be different as The US-China trade war had opened a window for Indian exporters to ship more to America.
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Chidambaram further said government has taken a number of fiscal and administrative measures from time to time to contain inflation especially food.
It's hard to say because of the winner-take-all nature of new platform and network businesses, but Reliance has not been an efficient user of capital, and Adani numbers are varied, observes T N Ninan.
India seeks greater market access for its products including textiles, pharmaceuticals and bovine meat.
Do a straw poll of any business friends and you will laugh and weep at what they go through, points out Rahul Jacob.
The World War I had been triggered by an assassination in then relatively unknown Serbia.
While RBI's foreign exchange reserves have swelled to over $400 billion, it has a 'sell' position of $981 billion.
China has cast a long shadow on India's economy.
Make in India right now is just a slogan. The policy content is missing or not clearly articulated. The lion with cogs and wheels must now show some majestic movement forward, says Rahul Khullar.
The argument for a weaker rupee is substantial.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
BofA-ML revised its end-2015 rupee-dollar forecast to 60 from 64 earlier.
'Listing Masood Azhar as a 'global terrorist' was done with Islamabad and Imran Khan's concurrence.' 'It was not prompted by the so-called 'Wuhan spirit'.' 'The relationship between the two 'iron brothers' has not been dented,' points out former RA&W officer and China expert Jayadeva Ranade.
The Tata Sons' chief said that world's reliance on China for sourcing goods will reduce, and India will definitely have an opportunity to participate.
'The prospects for both India and the global economy is that we are headed towards a very difficult time.' 'I see very uncertain at least 8-10 months for both India and the rest of the world.'
'Fear psychosis has gripped the entire world.' 'Nobody is going to enter shops freely in the next 5, 6 months.' 'Secondly, the priority has changed.' 'Now that they have seen the bottom of the economy, people will prefer to save for tomorrow.'
Russia has been grappling with sanctions slapped by the US and its allies over Moscow's invasion of Crimea.
The India government needs to work on policies that can enhance global trade.
Make in India has few advantages and some disadvatnages too.
Iran can now unlock $4.2 billion of payments for its oil stuck with major clients including India, China, Japan and South Korea after it reached an interim deal with six world powers in November over its nuclear programme.
For India, struggling for competitiveness, the current rupee overvaluation in terms of real effective exchange rate is a genuine constraint.
