This kind of growth will turn India into a $8 trillion economy.
Sebastian Coe, a contender for the International Olympic Committee (IOC) president's post, believes India's bid to host the 2036 Olympic Games is a "strong case" but acknowledges that the competition will be intense with several other countries vying for the honor. Coe, considered a frontrunner in the race to succeed Thomas Bach as IOC president, expressed his support for India's commitment to global sport and the Olympic movement.
Technically, the Indian economy is on road to recovery.
The government has also set targets for the next 25 years. We are working on the target of becoming a $5-10 trillion economy as well as taking exports to a record high, he said.
Uttar Pradesh Chief Minister Yogi Adityanath has hit out at the Opposition for initiating impeachment notices against Rajya Sabha chairman Jagdeep Dhankhar and Allahabad high court's Justice Shekhar Kumar Yadav, saying 'whoever speaks the truth' is threatened in this way.
State Bank of India, Adani Ports, Tata Consultancy Services, ICICI Bank, Reliance Industries and PowerGrid were also among the laggards.
For the home side, it has been a season of mixed returns so far. After early defeats to Royal Challengers Bengaluru and Mumbai Indians, KKR roared back to form in their last outing -- a commanding win over Sunrisers Hyderabad.
Trade tensions between India and the US have been rising with President Donald Trump complaining that tariffs imposed by New Delhi on American products were "no longer acceptable".
Countries like Qatar, and Saudi Arabia are also in the running for the 2036 Games hosting rights and it would take a significant effort from India to upstage their bids.
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday expressed confidence that in the years to come India could emerge as the fastest growing economy in the world, beating China as the nation has yet to achieve its full growth potential.
IndiGo on Wednesday said it was exploring an earlier introduction of wide-body planes in its fleet to meet the growing demand for international travel. Industry sources said the airline was in talks with Norse Atlantic Airways to wet-lease six B787 planes in its fleet.
Buoyed by 8.4 per cent growth in the second quarter, Finance Minister Jaswant Singh said on Friday that growth of India's gross domestic product would be even better in the subsequent quarters
However, if the rupee depreciates much, the economy in dollar terms would be that much smaller.
We must bring a laser focus on our own interests, and define our friends and foes more clearly instead of trying to live by somebody else's rules. We must grow up, think for ourselves, think India First, asserts R Jagannathan.
India needs another shot of difficult reform, of the kind only possible at gunpoint. Mr Trump holds that gun to our heads now. A drastic reduction in tariff protection, other elements of sarkari wet-nursing will force entrepreneurial India to become competitive again, argues Shekhar Gupta.
Indian economy is expected to improve marginally in the current financial year with its GDP at market price projected to expand by 3.4 per cent from 3.3 per cent in the previous fiscal, think tank OECD said.
Finance Minister (FM) Nirmala Sitharaman has presented a forward-looking Budget, reinforcing the government's commitment to 'Reform, Perform, and Transform'.
The country's per capita income is likely to grow by close to 70 per cent to $4,000 by fiscal 2030 from $2,450 in fiscal 2023, helping it become a middle-income economy with $6-trillion GDP, more than half of which will be coming in from household consumption, says a research report. Per capita income/GDP has risen from $460 in fiscal 2001 to $1,413 in fiscal 2011 and further to $2,150 in fiscal 2021. The biggest growth driver will be external trade which may nearly double to $2.1 trillion by 2030 from $1.2 trillion in fiscal 2023 when the GDP printed in at $3.5 trillion, Standard Chartered Bank said in a weekend report which assumes a 10 per cent nominal GDP growth annually from now on.
Boosted by the strength of India and China, developing nations would grow 1.2 per cent this year, but without the two, these economies would shrink 1.6 per cent, says the World Bank. Warning that the world is entering an era of "slower growth", the multilateral
India, the world's third largest oil consuming and importing nation, bought crude oil worth 49 billion euros from Russia in the third year of Moscow's invasion of Ukraine, a global think tank said. India, which has traditionally sourced its oil from the Middle East, began importing a large volume of oil from Russia soon after the invasion of Ukraine in February 2022.
Chidambaram also hit out at senior BJP leader Yashwant Sinha, saying his performance as finance minister.
Five years after the catastrophic collapse of the Wall Street, the American economy is growing and the businesses are creating jobs, Obama said yesterday while nominating Timothy Massad to run the Commodity Futures Trading Commission.
The Indian economy may grow at 7.2 per cent this fiscal on the back of improvement in consumer sentiment, policy reforms and projected growth in agriculture and industrial sector, a Assocham survey said.
Nine Indian universities and institutions have secured a place among the world's top 50 in the QS subject-wise rankings, with the Indian School of Mines (ISM) Dhanbad claiming the highest position at 20th globally for Engineering-Mineral and Mining. Despite the success, some top institutions, including three IITs, two IIMs and JNU, have experienced a drop in their rankings. The QS World University Rankings by Subject, in its 15th edition, highlight India's growing higher education ecosystem in terms of both size and quality.
Headline growth was quite weak heading into the Covid period but averaged 6.4 per cent and 6.7 per cent in the five years between FY16 and FY20 for GVA and GDP respectively, points out Abhishek Upadhyay.
The economy is likely to grow at about 5.6 per cent in 2014-15 and fiscal and current account deficits no longer pose a threat to macroeconomic stability, India Ratings said on Friday.
'Additionally, the significant employment multiplier will boost direct and indirect jobs of up to 1.1 million.'
Even as services helped the Indian economy clock better than expected growth in the first half, many economists say that the sector would slow down much more in the second half and restrict growth to seven per cent or less for the whole fiscal.
Parliament's approval of the Waqf (Amendment) Bill, a contentious piece of legislation aimed at reforming Waqf bodies, has sparked strong reactions from the opposition, who allege that the bill was "bulldozed" through Parliament. The bill, considered the government's most consequential legislation in its third term, was passed with comfortable majorities in both the Lok Sabha and Rajya Sabha despite opposition claims of a lack of consultation and an intrusion into religious affairs. Other notable bills approved during the session included the Finance Bill, Appropriation Bill, Immigration and Foreigners Bill, and Tribhuvan Sahkari University Bill. The session, which saw high productivity, also witnessed debates on issues such as economic distress, delimitation, and the three-language policy. While the government touted its achievements, the opposition criticized the government's approach and vowed to challenge the Waqf bill in court.
The Janata Dal (United), an ally of the ruling Bharatiya Janata Party (BJP), has sought an extension in the tenure of the Joint Parliamentary Committee (JPC) scrutinising the bills proposing simultaneous elections. The party argued that the committee, which has only met once, requires more time for extensive consultations. Meanwhile, the Lok Janshakti Party (Ram Vilas), another BJP ally, has demanded a "special industrial package" for Bihar, highlighting the state's low per capita income compared to the national average.
The government on Monday forecast annual economic growth to accelerate to 7.4 per cent in the fiscal year ending in March 2015
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
While celebrated coaches like Marcelo Lippi, Jean Tigana, Segio Batista and Henk ten Cate are making their presence, so are a few big ticket players. Rediff.com takes a look at a few stars who have preferred to move eastwards from their respective European clubs.
'The bull market cycle ran for five years. It's the end of that cycle.' 'The next cycle is a down cycle, and in that down cycle, you will see the Sensex falling from their highs of around 68,000 to maybe 40,000-50,000 at the bottom of the cycle.'
Equity markets will take cues from the US tariff related developments, global trends and trading activity of foreign investors this week, analysts said.
President Xi Jinping has said that no one can ever stop Taiwan's reunification with China as he signed off 2024 amid growing anxieties in the country over the continued slowdown of the economy and the return of Donald Trump, who has threatened to impose punitive tariffs and trade measures against Beijing in his second term.
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'.
C Rangarajan, chairman of the Prime Minister's Economic Advisory Council, on Thursday said he expects the Indian economy to grow by 8.5 per cent in FY'12 on the back of services sector and industry expansion, though he hinted that agriculture might not be a big contributor.
'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
India's GDP expanded 13.5 per cent in the April-June quarter, the quickest pace in a year, to retain the world's fastest growing economy tag but rising interest costs and the looming threat of a recession in major world economies could slow the momentum in the coming quarters.
