She also addressed the Indian Community at a reception held in her honour in Jakarta.
India has not been able to compete with countries such as Bangladesh and Vietnam.
Monetary policy stance to depend on inflation data
Analysts say lack of strong moves in stocks or sectors contributed to markets moving indecisively.
The government is expected to defer the mega initial public offering (IPO) of LIC to the next financial year as the ongoing Russia-Ukraine war has dampened fund managers' interest in the public issue, market experts said on Sunday. The government was looking to sell 5 per cent stake in Life Insurance Corporation (LIC) this month, which could have fetched over Rs 60,000 crore to the exchequer. The IPO would have helped meet the curtailed divestment target of Rs 78,000 crore this fiscal.
The department of economic affairs, in its Monthly Economic Review for September, said critical reforms undertaken by the government will put India to a strong and sustainable growth path in the long run.
The large current account deficit and the growing vulnerability on the external front have largely contributed towards the secular decline and the current volatility of the rupee.
'India missed the software products revolution (and now is in danger of missing the platform revolution), complacent that we are the software experts of the world based on IT services prowess,' points out Rajeev Srinivasan.
The previous United Progressive Alliance government had permitted up to 51 per cent foreign direct investment in multi-brand retail but the current National Democratic Alliance government is opposed to it.
In 2010, Abbott acquired both the pharmaceutical business of Solvay, which had a presence in India, and Piramal Healthcare Solutions, which was part of Piramal Group.
Given the relative rates of gross domestic product growth, the differential will increase.
The rupee appreciated by 10 paise to close at a nearly six-week high of 60.29 against the US dollar in the previous session tracking a solid rally in local shares and continued dollar selling by exporters and some banks.
India's GDP for the three-month period ended September 30 grew 7.4%.
Higher rural incomes, pay commission benefits, and lower interest rates are key positives: Analysts
It is learnt that the US had recently presented two separate papers to India.
The main factor boosting production was a sustained rise in new work inflows.
Facebook -- which counts India among its largest markets with over 300 million users -- has been in the eye of a storm after a Wall Street Journal (WSJ) report alleged that the social media platform's content policies favoured the ruling party in India. The report had accused Facebook of ignoring posts containing hate speech by BJP MLA Raja Singh. Since then, the ruling BJP and Congress have been trading barbs over the social media giant's alleged political bias.
The government plans to bring down its stake to 26 per cent in these two banks, which are yet to be identified. This may not come in the way of getting investors for these banks, provided the government is willing to step back rather than run them the way it had been doing for over five decades since these banks were nationalised, points out Tamal Bandyopadhyay.
Here are the key decisions announced by the Reserve Bank of India on Thursday.
'The new government will have to contend with slowing economic growth, weak private investment, anaemic exports and vulnerable external imbalances, a stressed financial system, mounting fiscal pressures (including high government debt-to-GDP ratios) and an exceptionally bad employment situation,' says Shankar Acharya, former chief economic adviser to the Government of India.
The RBI is understood to be dithering since it would want more clarity on the cost of the fiscal policies the new government would undertake before it decides to cut rates, even though it has pencilled in a lower gross domestic product growth rate for this fiscal year.
Sources had earlier said Modi and Putin would also deliberate on impact of US sanctions on import of crude oil from Iran.
Markets ended higher for the second straight session mainly on the back of upbeat corporate earnings.
Prime Minister Narendra Modi will on Friday launch two schemes of the Reserve Bank of India (RBI) that may go a long way in changing how the household sector invests, and complains if anything goes wrong with their savings. These schemes - retail direct and an integrated ombudsman - will be launched by the Prime Minister virtually, in the presence of Finance Minister Nirmala Sitharaman. With the introduction of retail direct, a common man can directly take a position in government securities (G-Sec), considered to be the safest asset class a sovereign can offer.
Retail inflation remained above the RBI's comfort level for the second consecutive month despite slipping slightly to 6.26 per cent in June while the factory output recorded a growth of 29.3 per cent in May, mainly on account of the base effect, the government data showed. The marginal slippage in the Consumer Price Index (CPI)-based inflation was noticed despite little firmness witnessed in the food inflation which inched up to 5.15 per cent in June from 5.01 per cent a month ago. Retail inflation based on Consumer Price Index (CPI) was 6.3 per cent in May 2021 and 6.23 per cent in June 2020.
Although the first woman to hold the position of chief economist at IMF, it would be wrong to see her appointment through the lens of gender
She would be the first Indian to be occupying the coveted post at IMF after former RBI governor Raghuram Rajan
Modi also made a call for European Union unity and said India would play a positive role in enhancing that through Germany.
Given that there are hundreds of players in the shadow banking space, it's hard to make a credible estimate of potential NPAs. That creates more scope for panic, says Devangshu Datta.
ICICI Bank and SBI were among the top Sensex gainers along with FMCG majors ITC and HUL.
The market is clinging to support above the 8,000 mark and hitting resistance above 8,150.
The benchmark BSE Sensex reclaimed the 28,000 mark, spurting by 409 points or 1.4% at 28,114 and Nifty settled above the 8,500 mark at 8,532, gains of 111 points.
The rupee is expected to remain volatile in the new financial year.
Inflation based on the Wholesale Price Index cooled to a 5-year low of 1.77 per cent in October driven by softening prices of fuel and food items.
A weaker rupee might stimulate Indian exports and nullify some of the effects of Chinese devaluation.
'For its part, Pakistan often gives safe haven to agents of chaos, violence, and terror.'
The S&P BSE Sensex ended down 371 points at 24,966 and the Nifty50 closed 101 points lower at 7,615.
The government on Saturday made its prior approval mandatory for foreign investments from countries that share land border with India to curb 'opportunistic takeovers' of domestic firms following the COVID-19 pandemic, a move which will restrict Foreign Direct Investment from China.
Moon Jae-in's visit will play a crucial role in exploring complementarities between India's Act East policy and South Korea's New Southern policy, says Dr Rahul Mishra.
Chetan Ghate, Pami Dua and Ravindra Dholakia have been appointed for 4 years
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