India decisively withstood global headwinds in 2023 and is likely to remain as the world's fastest-growing major economy on the back of growing demand, moderate inflation, stable interest rate regime and robust foreign exchange reserves. Despite widespread pessimism witnessed among the developed nations and the worsening geopolitical situation, India recorded a gross domestic product (GDP) expansion of 6.1 per cent in the March quarter. The growth moved up to 7.8 per cent in the June quarter and was 7.6 per cent in the September quarter. For the first six months of this fiscal, the growth was 7.7 per cent.
The main Opposition BNP of former premier Khaleda Zia, 78, who is under house arrest, is boycotting the elections amidst violence.
The new year will witness two unmanned missions under the "Gaganyaan" project, deep ocean exploration project, "Samudrayaan" and many more.
Maharashtra fell behind Gujarat in attracting foreign investment during the MVA's tenure but in the next two years the present government would take Maharashtra ahead, said Fadnavis.
Over half, or 269 NSE 500 stocks, have given over 10-fold (10x) returns in the last two decades, finds a recent report by Goldman Sachs that analysed 10 major markets across emerging and developed markets (EM/DM) that covered 6,700 stocks. The report examined '10-baggers' - stocks that have generated at least 10x total returns within a rolling 5-year period over the past two decades. Some of the prominent ones that comprise these 269 stocks in the Indian context stocks that delivered over 10x total returns over a 5-year rolling period since 2000 as per Goldman Sachs includes Westlife Foodworld, Bharti Airtel, Adani Total Gas, Patanjali Foods, Larsen & Toubro, BEML, Blue Star, Shree Cement, Lupin, Godrej Industries, Astral, Adani Enterprises, Hindustan Petroleum and Deepak Fertilisers.
The International Monetary Fund (IMF) warned on Tuesday that India's general government debt (comprising both central and state government debt) could exceed 100 per cent of gross domestic product (GDP) in the medium term. It also cautioned that long-term debt sustainability risks are high due to the significant investment required to meet India's climate change mitigation targets. The Indian government, however, disagreed, arguing that risks from sovereign debt are extremely limited as it is predominantly denominated in domestic currency.
Trinamool Congress MP Mahua Moitra on Wednesday wrote to Lok Sabha Speaker Om Birla flagging alerts received by several opposition leaders about 'state-sponsored' attacks on their iPhones, and urged him to provide them protection to continue doing their duties.
The rupee weakened even as the dollar fell against major global currencies
The rupee ended marginally lower by three paise at 66.36 against the US dollar.
Prime Minister Narendra Modi on Wednesday said the world looks at India as an important pillar of stability, a trusted friend, an engine of growth in the global economy, a technology hub for finding solutions and a powerhouse of talented youth. He also said that in the rapidly changing world order, India is moving forward as 'vishwa mitra' (friend of the world). Speaking at the inauguration of the 10th edition of the Vibrant Gujarat Global Summit, which saw participation of state hea
Hasina said her talks with Modi would focus on improving the condition of the people in their respective countries, poverty alleviation and economic development.
The rupee extended its losses and slumped 10 paise to close at a record low of 77.72 (provisional) against the US dollar on Thursday, weighed down by a negative trend in domestic equities and unabated foreign fund outflows. At the interbank foreign exchange market, the rupee opened lower at 77.72 against the greenback, and finally settled for the day at 77.72, down 10 paise over its previous close. During the trading session, the rupee touched an intra-day low of 77.76 and a high of 77.63.
The rupee on Tuesday recovered from its all-time intra day low of 77.79 to close higher by 7 paise on a stellar rally in domestic stock markets. After opening lower at 77.67, the local unit plunged further to its all-time intra-day low of 77.79 due to a spike in crude oil prices and disappointing macroeconomic data. However, a strong rally in domestic equities helped the rupee rebound and close at 77.48 (provisional), showing net gains of 7 paise over the last close of 77.55. The forex market was closed on Monday on account of Buddha Purnima.
A Chinese Navy warship capable of surveillance has docked at the Colombo port, nearly a year after another spy vessel berthed at a strategic port in the country and raised concerns in India.
Prime Minister Modi's visit saw India and the US signing several major deals to boost cooperation in key areas such as defence, space and trade.
United States Defence Secretary Leon Panetta has ruled out paying Pakistan USD 5,000 per truck carrying vital supplies across its territory for NATO troops in Afghanistan, citing financial challenges faced by America.
The rupee extended its losses and slumped 60 paise to close at a record low of 77.50 (provisional) against the US dollar on Monday, pressured by the strength of the American currency overseas and unabated foreign fund outflows. Forex traders said risk appetite has weakened amid mounting concerns about inflation that may trigger more aggressive rate hikes by global central banks. At the interbank foreign exchange market, the rupee opened lower at 77.17 against the greenback, and finally settled for the day at 77.50, down 60 paise over its previous close.
Persistent foreign capital inflows also boosted sentiment.
"The figure is showing a recovery in the global markets, especially in European economies," an official said. Mauritius, Singapore, the US, UK, Netherlands, Japan, Germany and the UAE are the major investors in India.
Benchmark indices Sensex and Nifty declined in early trade on Wednesday due to selling in financials, oil and IT stocks amid weak global trends.
Americans from across all 50 states donated to President Trump's campaign within the first five hours of the "sham indictment", the statement said.
The government has cut the windfall profit tax on crude oil produced in the country while the levy on exports of diesel and ATF has been hiked, an official notification said. The tax, levied in the form of special additional excise duty or SAED, on domestically produced crude oil was reduced to Rs 6,700 per tonne from Rs 7,100 a tonne. SAED on the export of diesel was increased to Rs 6 per litre from Rs 5.50 a litre and on jet fuel or ATF to Rs 4 per litre from Rs 2, the notification said.
The central contracts stand-off between Pakistan Cricket Board and top national players ended on Wednesday.
As per the Associated Chambers of Commerce and Industry of India, the two Asian giants can emerge as world's largest trading partners by 2030.
Twitter has replaced its recognisable bird logo with the letter 'X' as its new official mark marking the latest major shift since Elon Musk's takeover of the social media platform.
OceanGate was meant to explore the wreck of the sunken Titanic, in the Atlantic Ocean off Newfoundland, Canada.
Air India on Tuesday signed agreements with Airbus and Boeing for acquiring 470 planes for an estimated $70 billion at list prices. The Tata Group-owned airline had announced that it will buy 470 aircraft, including wide-body planes, in February this year. The "firm orders include 34 A350-1000, 6 A350-900, 20 Boeing 787 Dreamliners and 10 Boeing 777X widebody aircraft, as well as 140 Airbus A320neo, 70 Airbus A321neo and 190 Boeing 737MAX narrow-body aircraft," the airline said in a release.
Those close to Khanna, 46, say he is keeping his options open ahead of a potential presidential run in 2028 or beyond. But others in his orbit are talking about an even more compressed timeline: running in 2024 if President Joe Biden, 80, decided not to, according to Politico, a political newspaper company based in Arlington County in the US.
Five out of every thousand children born in the United States start life with the ill effects of alcoholism by their mother.
Soft drinks and foods major Pepsico India Holdings Pvt Ltd has applied to the Foreign Investment Promotion Board to invest an additional $200 million (around Rs 950 crore) as equity in its Indian operations.
Hours before his arraignment, former US president Donald Trump sent an email to his supporters, which he claimed was the last one before his arrest, saying that the United States is becoming a "Marxist Third World" country and went on social media questioning the fairness of the judiciary.
An Indian-origin couple and their two children were found dead in their home in the US state of New Jersey and the police are investigating the matter as a homicide.
A cricket match involving India and Pakistan is not just about top-quality cricket, but it is also about roaring fans giving the stadium the atmosphere of a Roman colosseum.
The rupee has lost 32 paise, or 0.50 per cent, in five trading days
The project is part of FIFA's mission to develop the game in various parts of the world.
'Israelis arrested us before this war and continue to do so -- even more so -- now.'
The bank adds it expects Modi to fight inflation through administrative measure
External Affairs Minister S Jaishankar, who was on a visit to the US last month, said that America's relationship with Pakistan has "not served" either of the two countries and raised questions on the Biden administration's approval of a USD 450-million sustenance package for the F-16 fleet.
One of the key factors contributing to the decline in the value of the rupee against the US dollar is the tightening yield spread between the 10-year India government bond and the US government bond. The yield on 10-year Indian government bonds is now only 295 basis points higher than that of US 10-year treasury bonds, the lowest since January 2007. Lower spread means lower incentive for foreign investors to invest in rupee assets, which adversely affects foreign capital inflows into the country and weighs on the rupee-dollar exchange rate.
Indian shuttler Kiran George says his giant-killing act at the Thailand Open Super 500 tournament earlier this year gave him the self-belief, which proved to be the key en route his second BWF title at the Indonesia Masters.
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