The Indian IT sector, which is doing exceedingly well going by the July-Sept quarter results, can sustain the momentum in the coming quarters as Indian IT firms enter new markets and gain business, experts say.
The Indian economy is likely to record a 7.4 per cent growth rate in the fourth quarter of fiscal 2009 as well as in the entire fiscal, a report by an economic think-tank on the economy, said.
Indian economy grew 7.9 per cent in the March quarter.
The XIth Plan targets should be recalibrated if the plan is to remain credible.
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Improved investor sentiment is expected to drive the economy forward in the coming quarters.
Economic growth rate had slipped to decade's low of 5 per cent in 2012-13 mainly on account of the impact of the global financial woes.
In his Budget speech, Finance Minister Pranab Mukherjee had pegged economic growth for 2011-12 at 9 per cent.
Economic recovery from the pandemic in the US has helped India achieve the $400-billion mark for exports for the first time in any fiscal year. According to the preliminary data compiled by the Department of Commerce, India exported goods worth $73 billion to the US from April 1 to March 21 - up 47 per cent, compared to last year. The US' share of exports, compared to total exports, stood at 18.2 per cent. The country is also India's largest trading partner and export destination.
Fitch Ratings has cut India's economic growth forecast to 8.7 per cent for the current fiscal but raised GDP growth projection for FY23 to 10 per cent, saying the second COVID-19 wave delayed rather than derail the economic recovery. In its APAC Sovereign Credit Overview, Fitch Ratings said India's 'BBB-/Negative' sovereign rating "balances a still-strong medium-term growth outlook and external resilience from solid foreign- reserve buffers, against high public debt, a weak financial sector and some lagging structural factors". The 'Negative' outlook, it said, reflects uncertainty over the debt trajectory following the sharp deterioration in India's public finances due to the pandemic shock.
The FIIs, after being bearish on India since November 2010, turned positive post the Union Budget presentation, which largely addressed the challenges relating to growth and liquidity despite surging inflation.
The passage of the Bankruptcy Code could set the stage for other important legislation that may see India undergo more economic change than all governments combined since the reforms implemented by P V Narasimha Rao in 1991-93, says Ben Merton.
The agency said announcements by Modi and Finance Minister Arun Jaitley after government formation 'signal a strong intention to pursue reforms'.
'RBI is already late in addressing inflation pressures.'
'Then select those that are well-aligned with your risk-return profile and investment time horizon.'
Automaker Kia India is looking to strengthen its product portfolio as it gears up to introduce a multi-purpose vehicle (MPV) in the country in the first quarter of next year, as per a top company official. The company, which currently sells three products in India -- Seltos, Sonet and Carnival -- is all set to globally unveil its fourth model, a multi-purpose vehicle (codenamed KY), on December 16. While the global showcase would happen next month, the actual market launch of the model would take place later in the January-March quarter.
However, India's economy will rebound to 8.5 per cent in 2009-10, Manila-based Asian Development Bank said in its Asian Development Outlook 2008. Narhari Rao, Principal Economist with India Resident Mission of ADB, said recent duty cuts by the government to arrest inflation, which is racing towards 7 per cent, are likely to show results in 2-3 weeks.
"For the next 25 years we need to focus on the five resolves - developed India, removing every trace of bondage from our mind, taking pride in our glorious heritage, unity, and fulfilling our duties," he said.
The economy of India is the eleventh largest in the world by nominal GDP and the fourth largest by purchasing power parity (PPP).
India's high growth level may not sustain and government's reforms may run out of steam as the main parties concentrate on winning support ahead of elections due in 2009, says a study.
Legendary singer Lata Mangeshkar, who was in the intensive care unit of Mumbai's Breach Candy Hospital, passed away on Sunday morning. She was 92.
India must be prepared for a broad range of external challenges as its capabilities grow and stake in the international system increases, said West Bengal Governor and former national security advisor M K Narayanan on Wednesday.
In short term lower interest rates can be of relief to Indian economy.
The World Bank on Wednesday cut India's economic growth projection to 6% for the current fiscal from 6.9% estimated earlier and blamed the slow down on corruption scandals and a host of policy issues including uncertainty in tax policies.
Indian economy has clocked a growth of 8.7 per cent in the first half of the calendar year. It said strong farm production will help drive economic recovery and also bring down food inflation, even though it said, 'inflation remains worrying.'
There was an improvement in the eighties to an average of 5.6 per cent per annum. When even moderate growth became unsustainable, and there was a threat of collapse, India made a decisive shift in 1991.
The FDI announcements made by the government in multi-brand retail, single-brand retail, aviation sector and broadcast sector are expected to change the landscape of the respective industry.
It said the money supply recovered to its pre-demonetisation level in mid-2017 and is now increasing steadily, similar to the previous trend.
The report, authored by Citi India chief economist Rohini Malkani, further said if the drought conditions worsen, growth may slip further to 4.9 per cent.
Y V Reddy, outlined certain key milestones in the Indian economy's growth story and envisioned the future trajectory
In India, democracy has not allowed the rule of the majority, says Fareed Zakaria
With the Indian economy expected to emerge as the third largest by 2030, investors have earmarked significant capital to actively participate in the India growth story.
We are in this mess as the machinery of the government in a market economy is broken. We need technically sound banking regulation, so that capital is not misallocated, and the landscape does not get littered with zombie firms kept alive through evergreening, says Ajay Shah.
Moody's Investors Service on Wednesday slashed India's growth projection to 9.6 per cent for the 2021 calendar year, from its earlier estimate of 13.9 per cent, and said faster vaccination progress will be paramount in restricting economic losses to June quarter.
For the 2009-10 fiscal, Pranab said, he expects the economy to grow by 7.2 per cent.
When stock brokers start quoting Oscar Wilde, it's probably a good time to bet on the markets. After the dismal Q4 GDP numbers, some experts are rushing to write the obituary of the India story. So, is this really endgame for India? It seems not.
As the Ukraine conflict impacts the global GDP, India is projected to grow by 6.4 per cent in 2022, slower than the last year's 8.8 per cent but still the fastest-growing major economy, with higher inflationary pressures and uneven recovery of the labour market curbing private consumption and investment, according to a UN report. The UN Department of Economic and Social Affairs said in its World Economic Situation and Prospects (WESP) report released on Wednesday that the war in Ukraine has upended the fragile economic recovery from the pandemic, triggering a devastating humanitarian crisis in Europe, increasing food and commodity prices and globally exacerbating inflationary pressures. The global economy is now projected to grow by only 3.1 per cent in 2022, down from the 4.0 per cent growth forecast released in January 2022.
In view of India's faster industrial growth and improved business confidence, UK-based Standard Chartered Bank (SCB) on Tuesday revised upwards its forecast for the country's economic growth to 8.1 per cent for the current fiscal.
This comes at a time when the global recovery remains fragile and is expected to slow later this year as the impact of the fiscal stimulus measures wanes.
Prime Minister Manmohan Singh on Thursday expressed confidence that the Indian economy, currently growing at an unprecedented 8 per cent for the third straight year, would expand by 9-10 per cent annually over the next five years.
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