Alibaba's pervasive economic and social influence in China is seen as a threat to the authority of the Chinese Communist party, notes Shyam Saran.
It is rare for Cabinet ministers to tick off state-owned companies publicly, yet that was what then petroleum and natural gas minister Dharmendra Pradhan did for ONGC. Speaking at an event on June 29, Pradhan said he has asked India's premier exploration company to find fresh oil acreages fast. "Do it yourself through some joint venture (or) through a new business model. But the government cannot permit you to hold resources for an indefinite time." The reason for this stricture is India's rising dependence on imported oil and gas. Or, to put it another way, falling domestic production (see chart: "Crude truth"), especially from ONGC, which faces a simple problem.
Globally, gold fell by 0.94 per cent to $1,094.20.
The total demand has remained subdued mainly due to high interest rates and property prices.
'The outlook for private investment, which has been such a weak link for India for so long, remains challenging.'
India is projected to see moderate average annual growth of 5.9 per cent during the 2014-18 period amid the country witnessing macroeconomic weaknesses, according to Paris-based think tank OECD.
Gross non-performing assets of public sector banks surged to 9.32 per cent (Rs 4.76 lakh crore) of advances in 2015-16, from 5.43 per cent (Rs 2.67 lakh crore) in 2014-15.
India's upbeat outlook contrasts with neighbouring China, where growth slipped to 6.7 in the first quarter
Weakness of dollar in the overseas market also boosted the domestic currency, a forex dealer said.
Comparative to other Asian GDP growths, India would have the fastest economic expansion, it said
'We look at firms that can be regional or global leaders.'
The 30-share Sensex ended higher by 177.46 points at 28,885.21 and the Nifty gained 63.90 points at 8,778.30.
South and South-West Asia could witness an economic growth of 5.3 per cent in 2015, which will be a four-year high.
The elections held in April-May 2019 will be an important determinant of future growth and investment.
The current slowdown has lasted for over 18 months and is the longest incident of sluggishness since 2006.
Goldman Sachs forecasts real GDP growth to accelerate to 7.9 per cent in FY17 from a projected 7.5 per cent in FY16.
Interestingly, in his entire remarks, Modi never once mentioned regional security, Ambassador M K Bhadrakumar points out.
The rupee had dropped by 60 paise or 0.89 per cent in previous three trading days.
Moody's assigns 'Baa3' rating on India, with a stable outlook.
Indian economy is set for a 'goldilocks' period -- used to describe a timeframe of high growth and low inflation -- while it can become Asia's fastest growing economy in 2016, Japanese financial major Nomura said.
Paytm e-commerce plans to add close to a billion products from across the globe to its platform before the festive season this year.
IHS said low regulated gas prices have precipitated a supply shortfall in India, but proposed that reforms to the pricing formula could yield higher domestic production and boost India's economy.
Exports in January 2014 stood at $26.89 billion.
With more favourable view on Indian economy and business environment under the Narendra Modi government, the risk premium for Indian papers began to climb down.
Nifty could fall to 9,500 levels; not a good time to bottom fish, say experts
'Our technology is going to help Indian agriculture the way the White Revolution helped milk production.'
The fund industry may have embraced machines and robots, but managing money still needs the human touch
The 30-share Sensex stayed in the green for the better part of the session and hit the day's high of 38,297.70 as buying pace gathered momentum towards the fag-end.
The downgraded World Bank forecast follows a similar move by the International Monetary Fund, which cut its growth forecasts two months ago
OIL, IOC, HPCL, BPCL slipped between 0.1-1.5% each while the oil producing companies such as ONGC (0.1%), RIL (1.5%), GAIL(2.6%) also edged lower.
Several brokerages lifted their outlooks for the BSE Sensex and companies were queuing to ride the wave of political euphoria
Since its peak, the S&P BSE Sensex has dropped nearly 3,000 points.
The NSE Nifty, which dipped below the key 10,800-mark to touch a low of 10,755.40, bounced back on late buying to close at 10,817.70, up 9.65 points, or 0.09 per cent.
In the forward market, the premium for dollar moved up on fresh paying pressure corporates.
Because of India's weak fiscal position, the plethora of debt-burdened infrastructure companies and the poor asset quality of public sector banks, economic growth in 2015-16 may be limited to about six per cent, say Shankar Acharya.
The rupee has been falling for five straight weeks, taking its losses this quarter to 6.6 per cent, making it the worst performing currencies in Asia during this period.
Airline says can't discuss dues publicly, denies grounding of planes
The NSE Nifty too recovered over 100 points, or 0.96 per cent, to end at 10,576.85.
China is keen to rebalance its economy towards higher consumption, services, technology use and value-added exports. The hope is that its currency will strengthen as the world embraces it as a global trade and reserve currency, say Abheek Barua & Bidisha Ganguly.
The broader NSE Nifty, after shuttling between 10,651.60 and 10.532.70 points on alternate bouts of buying and selling, closed 6.20 points, or 0.06 per cent, down at 10,576.30.
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