Core sector companies have seen volumes drop to single digit in the first nine months of FY16.
India can become a $6.7 trillion economy by 2031, from $3.4 trillion currently, if the country clocks an average growth of 6.7 per cent for 7 years, an S&P Global report said on Thursday. India had clocked a 7.2 per cent GDP growth in 2022-23 fiscal. But a global slowdown and lagged effect of a policy rate hike by RBI could slow down growth to 6 per cent in the current fiscal, S&P Global said in a report titled 'Look Forward: India's Money'.
In 2005, the Border Road Organisation was asked to construct 73 roads in the strategically important regions along the Sino-India border but there has been huge delay in implementation of the project which has apparently left the army unhappy.
Modi held a "productive meeting" with his Ethiopian counterpart Abiy Ahmed Ali on a day when BRICS (Brazil, Russia, India, China and South Africa) leaders officially endorsed Ethiopia's entry into the bloc.
The S&P BSE Sensex and the Nifty50 have hit record highs amid the poll outcome-triggered bull frenzy at the bourses. Most analysts feel that the indices are on course to rise further over the next few months - till the general elections - albeit amid intermittent corrections - largely triggered by global developments. Bharatiya Janata Party's (BJP's) win in the three state elections of Madhya Pradesh (MP), Rajasthan and Chhattisgarh, analysts at Jefferies believe, reinforces the consensus expectations of a Modi win 2024 national elections with a greater likelihood of over 300 seats for the BJP.
'Tax cuts will have only marginal effects in the short run and significant positive effects in the medium term,' says Shankar Acharya, former chief economic adviser to the Government of India.
The relationship between the US and India has been very productive, in particular on the trade and technology front, and 2023 can be considered the best year historically for bilateral ties, according to a former top American trade official. Arun Kumar, an Indian-American, who served as the assistant secretary of Commerce for Global Markets and director general of the US and Foreign Commercial Service (USFCS) during the Obama administration, said this during an interview with PTI in Washington. "Looking back on 2023, it was a very productive year for the US-India relationship, by many accounts the best year historically," he said.
A piece of slightly negative news can cause a serious setback, warns Debashis Basu.
India needs to revive corporate sector investment, push critical reforms and remove infrastructural bottlenecks to boost industrial growth in the country, says a government document.
India's exports could witness a significant improvement in coming years if the government adopts proactive measures like easy availability of trade finance, improvement in marketing and boosting infrastructure sector, research firm Dun and Bradstreet says.
Britain has finalised 1 billion pounds worth of new trade and investment with India, creating over 6,500 jobs in the UK, to be signed off at a virtual summit between Prime Minister Boris Johnson and his Indian counterpart Narendra Modi on Tuesday. The investments confirmed by Downing Street on Monday evening form part of an Enhanced Trade Partnership (ETP), which will set the ambition to double the value of UK-India trade by 2030 and declare a shared intent to begin work towards a comprehensive Free Trade Agreement (FTA). "Like every aspect of the UK-India relationship, the economic links between our countries make our people stronger and safer," Johnson said.
Modi attended the 20th ASEAN-India Summit in Jakarta. Secretary-General of ASEAN Dr Kao Kim Hourn also attended the summit.
With economic problems and job cuts, Hangzhou locals and people in other parts of China are not very pleased about hosting the Asian Games.
Prime Minister Narendra Modi Wednesday said the International Monetary Fund (IMF) sees India as a "bright spot" in the global economy and as per the World Bank, India is in a better position to deal with the global headwinds than many other countries. This is because of India's strong "macroeconomic fundamentals", Modi said while virtually addressing the inaugural function of the 7th edition of Invest Madhya Pradesh-Global Investors Summit in Indore. In the past eight years, the government has increased the speed of reforms and removed many hurdles in the way of investments.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
Wrapping up his four-day state visit to the US, Prime Minister Narendra Modi on Friday asserted that a new and proud journey of India-US ties has begun and the world is watching the two great democracies strengthening their bond.
The recent surge in crude oil prices could shave off the gains made by India Inc in profit margins in the past few quarters. Worse, it comes at a time when consumer demand in the country is slipping and major global economies are witnessing a slowdown. A back-of-the-envelope calculation suggests that the margin expansion accounted for three-fourths of the rise in the listed firms' operating profit between the April-June quarter (Q1) of FY23 and Q1FY24, and only a quarter of profits gains came from revenue growth.
In his media statement after the meeting, Modi said he and Prachanda have taken many important decisions to make the partnership between the two countries a 'super hit' in the future.
About 416 Myanmarese soldiers crossed over to India in view of the situation arising out of the fighting between Myanmar's armed ethnic groups and the government forces, and Indian military is 'closely watching' the unfolding developments, Army Chief General Manoj Pande said on Thursday.
Navi Mumbai airport's construction is facing delays, and is likely to commence commercial operations in 2025 instead of 2024, aviation consultancy firm CAPA has said in a report. When asked about this matter, the Adani Group told Business Standard that the Navi Mumbai airport project is "being executed as per scheduled implementation plan and will be operational by the original target date of December, 2024, without any delay". Navi Mumbai International Airport Limited (NMIAL), responsible for both the construction and operation of the airport, is a subsidiary of the Adani Group.
The prime minister sought to allay slowdown concerns saying the fundamentals of the economy are strong, with low inflation and a potential to boost exports.
India and the US on Monday committed to further improving bilateral ties, exploring alternate mechanisms for funding renewable energy and actively pursuing the G20 agenda which includes strengthening MDBs and taking coordinated action to deal with climate change. Several issues, including climate action, rising indebtedness in low and middle income countries and digital public infrastructure, figured during a bilateral meeting between Finance Minister Nirmala Sitharaman and US Treasury Secretary Janet Yellen held on the sidelines of the G20 meeting of Finance Ministers and Central Bank Governors. India, Sitharaman said, will "look forward to furthering ... bilateral interests through development cooperation and new investment opportunities through Alternate Investment platforms for renewable energy."
Capital gains exemption limit and a steep reduction in the highest surcharge will empower the masses with enhanced liquidity flow that can be invested in real estate, points out Dhaval Ajmera.
The ED carried out searches against two former auditor firms of IL&FS -- BSR and Associates and Deloitte Haskins and Sells -- on Wednesday in connection with its money-laundering probe into alleged financial irregularities at the infrastructure development and finance company, official sources said. The premises linked to the two auditors in Mumbai were searched under the provisions of the Prevention of Money Laundering Act (PMLA), they added. The action came a week after the Supreme Court set aside a Bombay High Court verdict that quashed an SFIO probe against the two companies, both former auditors of IL&FS Financial Services, paving the way for action against them under the Companies Act and allowing the National Company Law Tribunal (NCLT) to take forward its enquiry against them.
Something is cooking in online food delivery. After 15 years of grappling with the demands of the business - read cash burn - Gurugram-based Zomato reported its first profit in the first quarter of 2023-24 (FY24). Not satiated, it reported a profit in the following quarter as well: Of Rs 36 crore in the second quarter compared to Rs 2 crore in the first. A year ago, in the second quarter of FY23, it had reported a loss of Rs 251 crore.
'Baseball/softball, cricket (T20), flag football, lacrosse (sixes) and squash will be in the programme at LA28.'
Fiscal pressure for the Indian economy is gradually rising, suggested analysts at Jefferies in a recent note, as oil prices (Brent) - which are close to the $100 a barrel mark - continue to climb ahead of a busy election calendar. They added that the sharp rally in the equity markets during the last few months has made valuations costly. As a result, Jefferies expects the Indian markets to remain choppy in the near term.
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
Putin made these remarks on Tuesday while speaking at the Plenary session of the 8th Eastern Economic Forum in Vladivostok, a major port city in sanctions-hit Russia's Far East region
As part of its efforts to boost the sector, the Tourism Ministry has decided to announce policy initiatives for promotion of innovative programmes like 'caravan' and 'heliport tourism' in its 100-day agenda.
Ivraj Kaur and Prabhsimran Kaur, alumni of Mai Bhago Armed Forces Preparatory Institute (AFPI) for girls in Mohali, were commissioned as flying officers from the Air Force Academy in Dundigal and Hyderabad.
The softer interest rate regime and boom in housing, retail and infrastructure sectors boosted credit of banks by Rs 1,19,684 crore (Rs 1,196.84 billion) last fiscal.
"They (opposition parties) are not concerned about the development of the children of the country's poor. Their common minimum programme is to increase corruption for their family. Democracy means 'of the people, by the people, for the people'. But these dynastic parties have the mantra of 'of the family, by the family, for the family'. For them, their family is first, and the nation is nothing," he said.
Making a marginal recovery, India's exports entered the positive zone after a gap of eight months, recording a growth of 0.82 per cent to $25.58 in January.
'The cracks I saw yesterday were the largest I have seen in my life. We are scared.'
The statement said that the global economy is being held back by a shortfall in demand, while addressing supply constraints is key to lifting potential growth.
In 2022, he raced past Usain Bolt, 'the world's fastest man', to become the world's most written-about athlete. The attention has followed a stream of medals: Asian Games gold twice, an Olympic gold, and silver and gold at the World Athletics Championships.
The proposed legislation on special economic zones would give a big boost to the inflow of foreign direct investment in the country, Commerce and Industry Minister Kamal Nath said in New Delhi on Friday.
The Chief of Air Staff, addressing a press conference ahead of the Air Force Day on October 8, asserted that the IAF will continue to remain deployed along the frontier in the region till complete disengagement takes place in the remaining contested areas.
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