'India has formed tremendous resilience and still a strong growth.'
Former Prime Minister Manmohan Singh's 1991 budget unshackled India's economy, significantly enhancing the economic prospects for hundreds of millions of Indians, first deputy managing director of the International Monetary Fund (IMF) Gita Gopinath said on Friday.
Miller said that US President Donald Trump has a 'tremendous' relationship with Prime Minister Narendra Modi, and that the peace options for the region are on the table.
The defence minister also announced that India has taken up the challenge of developing a powerful indigenous aero-engine, adding that preparations for this critical project are now almost complete and the work will soon be visible.
President Droupadi Murmu addressed the nation on the eve of Independence Day, praising the response to terrorism, highlighting achievements in defense self-reliance, and emphasizing unity and progress.
The defence minister, without naming anyone, said some people are not liking the rapid development of India and are unable to digest it.
Tamil Nadu Industries Minister TRB Rajaa claims Uttar Pradesh's development is funded by Tamil Nadu's tax contributions to the central government, sparking a political debate over regional economic disparities.
'The India-UK FTA is an enormous win for both the Indian consumer and the Scotch whisky industry. It will make whisky more affordable while expanding the Scotch market by about a billion dollars.'
Putin further described the Ukraine conflict as a mere "pretext" by Western powers to take these broader punitive measures against countries maintaining strong economic ties with Russia.
A top military official has revealed details about India's proposed air defence system, Sudarshan Chakra, describing it as a comprehensive system that will include counter-drone, counter-UAV, and counter-hypersonic capabilities.
Nepal's former Chief Justice Sushila Karki is set to lead an interim government, announced by the President's office, following the resignation of prime minister K P Sharma Oli. She will be the first woman prime minister of Nepal.
India will take all necessary steps to safeguard and promote national interest, Commerce and Industry Minister Piyush Goyal said on Thursday, a day after US President Donald Trump announced 25 per cent tariffs plus penalty on domestic exports to America from August 1.
On Thursday, the UN pegged the calender 2013 growth at 6.4 per cent, while the ADB last projected that the domestic economy would reach 6 per cent in the current fiscal.
India's computer services exports have risen 30 per cent since the advent of ChatGPT in November 2022, even as overall services exports have plateaued, World Bank's South Asia Chief Economist Franziska Ohnsorge said, terming Artificial Intelligence (AI) and the conclusion of more trade agreements that can trigger a "manufacturing renaissance", as the two big investment opportunities for India in coming years.
Recent documents by NITI Aayog and periodic labour force surveys on employment show that the importance of agriculture is rising in the Indian economy.
'While the concept was introduced globally over four decades ago, branded residences have taken off now in India.'
The gig economy market is expected to grow at a compound annual growth rate (CAGR) of 17 per cent to reach a gross volume of $455 billion by the end of 2024, according to a white paper by The Forum for Progressive Gig Workers. Estimates suggest the gig economy has the potential to create 90 million jobs and add 1.25 per cent to India's GDP (gross domestic product) over time.
'Generating employment requires a shift in policy.' 'If not, the country will face economic, social and political challenges in the coming years.'
This would be a 100 per cent jump over 2024, when the state had logged tourist inflow of 650 million
The 25 per cent US tariffs, plus a penalty for Russian imports, could dent India's GDP growth by 30 basis points in the current fiscal, but the higher duty is unlikely to significantly affect India's domestic demand-driven economy, Barclays said on Thursday. If the 25 per cent tariff, announced by US President Donald Trump on Wednesday, is implemented from August 1, the effective average US import tariff on Indian goods will rise to 20.6 per cent in trade-weighted terms, as per Barclays estimates.
'That is going to have an impact on literally every one, whether you buy a toothpaste, a safety pin, a car, shoes or medicines or you go to a diagnostic centre.'
India is poised to be the fastest-growing major economy in the world and an engine of global growth despite global headwinds, says leading industrialist and Aditya Birla Group Chairman Kumar Mangalam Birla. The economic activity in India has witnessed a sharp recovery to pre-pandemic levels on the back of a rapid and widespread rollout of the vaccination programme, Birla said in the latest annual report of UltraTech Cement Ltd. "A strong digital ecosystem, fiscal and monetary policy and various government schemes helped small and medium enterprises and the worst affected sections of the population to survive while reviving demand and bringing the economy back on track," said Birla while addressing UltraTech's shareholders.
Auto majors Maruti Suzuki, Tata Motors and Mahindra & Mahindra reported robust sales in September as reduced price tags owing to GST rationalisation led to record demand in the Navaratri period. The month also saw Tata Motors and Mahindra & Mahindra settling at number two and three positions, respectively in vehicle wholesales ahead of Hyundai Motor India.
The crisis may not be as visible this time, but the stakes are just as high, points out Rajeswari Sengupta.
'New Delhi is not naive about its foreign policy choices.'
S&P Global Ratings on Monday retained India's GDP growth forecast at 6 per cent saying it will be the fastest growing economy among Asia Pacific nations. The GDP growth forecast for the current and the next fiscal has been kept unchanged from the forecast made in March partly on account of domestic resilience. "We see the fastest growth at about 6 per cent in India, Vietnam, and the Philippines, S&P Global Ratings said in its quarterly economic update for Asia-Pacific.
'With a solid investment programme and sustainable development strategy, India can exceed 7 per cent growth per year, or a doubling of high-quality national income within a decade.'
Amit Kshatriya, a decorated Indian-American and NASA veteran, has been appointed as NASA's new associate administrator, marking a significant step in the agency's exploration efforts.
Private consumption is back driven by festive spending, and the medium-term economic outlook remains bullish as the innate strength of the macro-fundamentals reasserts itself, the Reserve Bank Bulletin said on Wednesday. Global economic activity remained resilient during Q4:2024 amidst fragile confidence and rising protectionism, said an article on 'State of the Economy' published in the November Bulletin.
The next many decades belong to India as the global economic powerhouse, and it will be essential to continue demonstrating policy stability, as the country aspires to be the world's manufacturing hub, Maruti Suzuki India MD and CEO Hisashi Takeuchi said on Friday.
However, under several external factors -- such as technological disruption or advancement, regulatory or policy changes, or economic shocks -- the gig workforce may grow only to 32.5 million by 2047, a report points out.
'The US slump could hit our hosiery market hard since 40 per cent of our exports go there.' 'Job losses could be severe if the government doesn't step in fast.'
Brave statements such as we will continue to be the fastest growing large country are of no consolation, because the direction of trade also determines the flow of investment, points out M Govinda Rao.
The trade relationship between India and the United States has been strained by the imposition of 25% tariff by the US on Indian goods.
Festive sales are expected to surge 27 per cent to cross Rs 120,000 crore in 2025, driving Amazon and Flipkart to expand warehousing capacity by millions of cubic feet and extend delivery networks to thousands of new pin codes -- an infrastructure buildout that could reshape India's retail landscape for years.
India's economic growth forecast for 2025 has been revised downward to 6.3 per cent, and despite a projected moderation, the country remains one of the fastest-growing large economies, supported by resilient consumption and government spending, the United Nations has said.
'We need to be very vigilant as we are passing through some fraught times.'
The average Indian worker must labour for an extraordinary 160 full working days to afford Apple's latest iPhone 17 Pro.
The $1.2 billion in-space manufacturing market is expected to grow and be worth more than $20 billion by 2033.
