'Global uncertainty is something which definitely occupies the minds of officials when we are preparing for the Budget.'
Growth in India is expected to slow to 6.3 per cent in FY 2023/24 (April-March), a 0.3 percentage point downward revision from January, the World Bank said Tuesday but noted there is an unexpected resilience in private consumption and investment and robust growth in the services. The World Bank made these points in its latest edition of Global Economic Prospects according to which global growth is projected to decelerate from 3.1 per cent in 2022 to 2.1 per cent in 2023. In Emerging Markets and Developing Economies (EMDEs) other than China, growth is set to slow to 2.9 per cent this year from 4.1 per cent last year. These forecasts reflect broad-based downgrades.
Although risks from advanced economies have eased and growth is firming, despite ongoing contraction in the Euro Area, the pick-up in developing countries will be modest because of capacity constraints in several middle income countries.
'In India's case, an extended earnings slowdown accompanied by rich valuations have dimmed returns since late 2024.'
ServiceNow has announced an expansion of its AI Control Tower offering with new capabilities that give enterprises control over every AI system, agent, and workflow, regardless of where it runs.
Domestic gold exchange-traded funds (ETFs) saw their holdings jump 65 per cent to 95 tonnes in 2025, elevating Indian ETFs to sixth place globally, going by holdings of the yellow metal. At the end of 2024, they ranked eighth with 57.5 tonnes of holding, according to an analysis of data from the World Gold Council (WGC).
Cognizant has announced the launch of Technoverse Hackathon 2026, a national platform for engineering students to demonstrate AI-powered problem-solving skills in various industries. The hackathon aims to bridge academic learning with real-world applications and promote innovation.
Iranian President Masoud Pezeshkian stated that Iran is considering various paths to address regional tensions, including negotiations conducted with dignity and authority, while emphasising that military gains should be reinforced through diplomacy.
The SC has gone a step further to state that even if one were to not apply the codified GAAR provisions, the judicial GAAR would continue to apply, point out Pranav Sayta and Bhargav Selarka.
Sun Pharmaceutical Industries' Executive Chairman Dilip Shanghvi described the USD 11.75 billion acquisition of US-based Organon & Co as both a "happy" and "bit anxious" moment, acknowledging the significant debt required to fund the large transaction.
India is closely monitoring Sri Lanka's decision to offer foreign investors control of an airport near the China-controlled Hambantota port, as it could present a rare opening for Indian firms seeking strategic footholds in the Indian Ocean.
'It was diminishing even before Trump came to power.' 'The US was at the centre of the global economy. That position is going to become less and less important and less central.'
India is set to compete in the Billie Jean King Cup Asia-Oceania Group I ties, aiming for promotion to the 2026 play-offs. Despite a setback with Shrivalli Bhamidipaty's withdrawal, the team hopes to capitalise on home advantage.
Cleaner balance sheets, regulatory support and strong growth prospects helped Indian private banks attract over $6 billion in foreign capital, with more deals expected in 2026.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
'When we start describing somebody as an enemy that is the start of politics and emotion after which no business can take place.' 'We need to get out of this, allow Indian businessmen to do business with China.'
Nayagam PP, career counsellor and founder of EduJobs360, explains how traditional engineering choices are being replaced with flexible, future-ready career paths that align with industry requirements.
The Enforcement Directorate (ED) reports a decline in traditional financial crimes due to sustained investigative actions and government initiatives, while highlighting emerging challenges like cryptocurrency fraud and terror financing.
Extreme poverty in India declined by 38 million in 2021 to 167.49 million after a surge in the two preceding years, but remained above the 2018 level, the latest World Bank data shows. While for most countries poverty rose in 2020, when the Covid-19 pandemic hit the global economy, the data shows poverty shot up in India a year earlier in 2019 to 176.09 million from 151.79 million in 2018, the lowest pre-pandemic count. India's poverty rate at 11.9 per cent in 2021 also remained higher than the 2018 level of 11.09 per cent, though easing from 14.72 per cent in 2020.
The Bank's projections show that developing countries face a financing shortfall of $270 to $700 billion this year, as private sector creditors shun emerging markets, and only one quarter of the most vulnerable countries have the resources to prevent a rise in poverty.
Reserve Bank of India (RBI) Governor Sanjay Malhotra stated that preventing second-round effects of supply shocks, where inflation expectations rise due to prolonged disruptions, is the primary role of monetary policy. He also defended the RBI's foreign exchange market interventions, asserting it did not commit to an 'indefensible peg'.
World Bank has predicted a downward trend for India's GDP in 2008. China to follow too.
The Wrestling Federation of India has appointed three foreign coaches and a High Performance Director to enhance national camps in preparation for the Asian Games and the 2028 Olympics.
'At the first sign of real trouble, that money will move. There will be a run.'
For India, much is at stake: Crucial energy supplies traversing the Strait of Hormuz, the fate of its 10 million citizens living and working in West Asia -- who send generous remittances home -- and its major trade links with the region.
This comes at a time when the global recovery remains fragile and is expected to slow later this year as the impact of the fiscal stimulus measures wanes.
For engineers across the country, the Oracle job cuts served as a rude reminder of what the AI era has in store for the tech world.
The World Bank has appointed Indermit Gill, an Indian national, chief economist and senior vice-president for development economics at the multilateral development bank. "Indermit Gill brings to this role a combination of leadership, invaluable expertise and practical experience working with country governments on macroeconomic imbalances, growth, poverty, institutions, conflict, and climate change," World Bank President David Malpass said in a statement. His appointment will be effective September 1, 2022.
The recipe for Indian higher education institutions to succeed in the global markets is excellence in academics, promoting contemporary socially relevant material, and enabling individuals (learners) to realise their full potential, suggests N Ravichandran.
Among the Sensex constituents, Asian Paints, Tech Mahindra, HCL Technologies, Tata Steel, Maruti Suzuki India, Sun Pharmaceuticals, Tata Consultancy Services, ICICI Bank, Bajaj Finance, UltraTech Cement, Mahindra & Mahindra and Tata Motors Passenger Vehicles were the laggards. However, Eternal, Titan, Adani Ports, Bharat Electronics Ltd, State Bank of India, Bajaj Finserv, NTPC and Bharti Airtel were among the gainers.
'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
Wipro has launched its AI-Data Centre solution, integrating NVIDIA's AI Enterprise platform, to accelerate enterprise-scale AI adoption and modernise data centre environments.
The downgraded World Bank forecast follows a similar move by the International Monetary Fund, which cut its growth forecasts two months ago
The Indian economy is likely to grow at 7.4 per cent in 2025-26, up from 6.5 per cent in the previous fiscal, mainly on account of better performance of manufacturing and services sectors, as per the government data released on Wednesday.
The multilateral agency had earlier projected that the world economy would expand by 3.6 per cent this year.
Defence Minister Rajnath Singh has launched a strong attack on West Bengal Chief Minister Mamata Banerjee, accusing her government of appeasement politics, encouraging illegal immigration for votes, and leading the state into misrule and corruption.
'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession.
Form and familiarity favour India in T20 World Cup
Swift and global banks are launching a new system to make international payments faster and cheaper for small businesses and consumers, starting with major global markets.
The World Bank on Tuesday revised upwards its GDP growth forecast for India to 6.9 per cent for 2022-23, from 6.5 per cent earlier.
