After a contraction in the current financial year, India's economy is forecast to bounce back with a sharp growth rate of 9.5 per cent next year provided it avoids further deterioration in financial sector health, Fitch Ratings said on Wednesday. The coronavirus pandemic will lead to shrinking of the already slowing economy in 2020-21 that started in April. Fitch Ratings forecast a 5 per cent contraction in the GDP in the ongoing financial year.
"The outlook for exports in 2008-09 may not be as bright as in the past few years with lower projections in world GDP and world imports and exchange rate developments," according to the pre-Budget Economic Survey tabled in Parliament.
83% of the CEOS plan to hire more in the new year.
The UN Conference on Trade and Development (UNCTAD) said in a report on Monday that a lower but positive economic growth in India in the post-Covid-19 pandemic period and India's large market will continue to attract market-seeking investments to the country. The World Investment Report 2020 by UNCTAD said that India was the 9th largest recipient of FDI in 2019, with 51 billion dollars of inflows during the year, an increase from the 42 billion dollars of FDI received in 2018, when India ranked 12 among the top 20 host economies in the world.
Deutsche Bank expects the Sensex to climb only 8% in 2017 to 29,000, and expects high volatility.
'2020 will show whether India's troubled domestic economic and political house reveals a mismatch in their strategic association or whether closer strategic ties are yet possible,' says Anita Inder Singh.
He said more than one crore children have sent him 'their Mann Ki Baat' via postcards which have come from many parts of the country and even from abroad.
With rest of the world showing no signs of growth and headwinds ahead for US growth, chances are that we might continue to see central banks pumping money into their economies
Moody's on Monday slashed India's growth forecast for 2020 to 5.4 per cent from 6.6 per cent projected earlier, on slower than expected economic recovery. In its update on Global Macro Outlook, Moody's Investors Service said India's economy has decelerated rapidly over the last 2 years and economic recovery is likely to be 'shallow'.
Only India is anticipated to witness better growth momentum among the BRIC bloc
Janet Yellen is guiding the Federal Reserve towards its first rate rise in a decade armed with traditional economic models that some economists worry could fail her in a world of massive money printing and near zero rates.
The external affairs minister, delivering the Sardar Patel Memorial lecture, also made it clear that any attempt to unilaterally change the status quo of the Line of Actual Control (LAC) is 'unacceptable' to India.
Few people know Ratan Tata as well as R K Krishna Kumar does. Widely perceived to be among the managers closest to Tata, Krishna Kumar assesses Ratan Tata, the man and business leader, in this exclusive interview to Rediff.com's Vaihayasi Pande Daniel.
Equity benchmark Sensex tumbled 674 points on Friday, weighed by losses in banking stocks as an unabated spike in new coronavirus cases fuelled uncertainty over the economic impact of the pandemic. After hitting a low of 27,500.79 during the day, the 30-share BSE barometer ended 674.36 points or 2.39 per cent lower at 27,590.95. The NSE Nifty shed 170 points, or 2.06 per cent, to finish at 8,083.80.
Most forecasts do not have a track record of transparency and accuracy
Bill Gates specifically complimented India's Aadhaar identity system and the country's performance in the financial services and pharma sectors.
In the first eight months of 2019, 70 per cent stocks in the BSE 500 universe were down. These stocks account for 94 per cent of India's total market capitalisation.
'The prospect is of a self-confident and self-sustaining India will make it a more effective player in the global arena,' External Affairs Minister Dr Subrahmanyam Jaishankar points out delivering the Sardar Patel Lecture-2020: India and the Post-Covid World.
The industry is expecting double-digit growth on a year-on-year basis, helped by a possible price correction after softening of raw material inputs and factors such as positive sentiments, pent up demand and improving economic conditions. Besides, a shift in consumer behaviour from price consciousness towards technologically advanced premium products with quality, value proposition and safety aspects leading to a rise in demand for home automation products is making the industry upbeat. With the government's production linked incentive (PLI) scheme for white goods, which has witnessed a committed investment of Rs 4,614 crore, in place, many manufacturers are gearing up to make the most out of the opportunity as well as take steps towards reducing their dependency on imports and make products more affordable.
Had India agreed to join the trade pact, Indian markets would have been flooded with cheap Chinese products.
US rate hike fear keeps Asian firms in check; India most upbeat.
Moody's has a 'Baa3' rating for India, with a positive outlook.
Bank of America (BofA) Securities expects India to be the third-largest economy in the world by 2031. The economic rise could become a reality by 2028, but the Covid pandemic delayed the pace, BofA Securities economists Indranil Sen Gupta and Aastha Gudwani wrote in a report.
'I hope that the incoming Biden-Harris Administration works with India to address some of the most profound geopolitical transboundary challenges.'
US State Department's report said that this has resulted in many investors retreating slightly from their once forward-leaning support of the BJP-led government
It is hard to tell whether the prime minister is unable to confront the reality or so supremely confident in his abilities that he can convince the rest of us that the reality is different from our perception of it, observes Aakar Patel.
The UK India Business Council expects more emphasis to be put on improving bilateral economic ties.
Indian economy is witnessing stable growth momentum, says OECD.
Relationship problems? Let Love Guru help.
'COVID-19 will not stop the expansion of China's 'infrastructure power'.'
India will become the largest single source of global oil demand growth after 2020, the International Energy Agency said.
The Quad has come of age and its agenda covering areas like vaccines, climate change and emerging technologies makes it a force for global good, Prime Minister Narendra Modi said at the first summit of the coalition. In his opening remarks, he also talked about shared values and promoting a secure, stable and prosperous Indo-Pacific.
In an address at the Indian Council of World Affairs, he said Nepal wants to take the relations with India to the next level, but at the same time added: "We should be mindful equally that healthy relations require continuous nurturing, creative thinking, promptness and readiness to understand each other in changing dynamics."
The world economy is going through a tough phase.
People are interested in the strength of India's economy, the country's stability, and the opportunities, says Stuart Tait, regional head of commercial banking, Asia-Pacific at HSBC.
'There shall be no change in India-Japan ties,' predicts Rajaram Panda.
The US president also cut funding for international groups that provide abortions, and froze hiring of some federal workers.
The drop in oil to around $50 a barrel this year has triggered steep cutbacks in production of US shale oil
When he speaks of them, it is either in denial or to highlight successes that are only part of a larger story that is worrisome in its totality, observes T N Ninan.
The retrenchments at the company promoted by Mumbai BJP chief Mangal Prabhat Lodha come at a time when the economic growth has dipped to a six-year low of 5 per cent, which has led many to fear if the spectre of job losses across sectors awaits next.
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