The Federation of Indian Export Organisations (FIEO) has said the latest export numbers reflected the resilience of the country’s economy. Amidst geopolitical challenges such as the Russia-Ukraine war and the Red Sea crisis, the country clocked $776.86 billion in 2023-24 as compared to $776.40, Ashwani Kumar, President of FIEO, said. Commenting on the latest export … Read more
National Council of Applied Economic Research (NCAER) on Sunday said that Indian economy remained buoyant at the end of fiscal 2023-24 and set to clock 7.6 percent growth as projected in the CSO’s second Advance Estimate. Both the Purchasing Manager’s Index (PMI) for manufacturing and services are maintaining a robust trend, raising optimism about the … Read more
Painting a bullish picture on the growth momentum of the Indian economy, foreign brokerage Morgan Stanley has raised the country’s GDP growth forecast for FY’24-25 to 6.8 per cent from 6.5 per cent estimated earlier. The upward revision comes in the wake of continued traction in industrial and capex activity. For the current calendar year, … Read more
Capex has emerged as a key growth driver in India after a decade of steady decline in the invest to GDP ratio. The capex cycle has more room to run up, and the current expansion is reminiscent of the years 2003 to 2007, said Morgan Stanley in a research note. The note highlighted that investment … Read more
Strong growth in manufacturing and good performance of mining and construction pushed the economic growth in October-December quarter (Q3) of Fiscal Year 2023-24 to 8.4 per cent, defying all the expectations. Also, growth rate for full fiscal of 2023-24 upped to 7.6 per cent from earlier projection of 7.3 per cent. “Robust 8.4 per cent … Read more
India, with the right policy mix, could potentially raise its GDP growth rate closer to 8 per cent, becoming the largest contributor to global growth by the end of this decade, Barclays Research said in a new report. This report, which is the latest edition of series of reports titled India’s Breakout Moment, noted that the ability … Read more
With the Indian economy growing at a faster rate than other economies, S&P Global has announced the launch of the ‘India Research Chapter’. It aims to provide India-oriented research and reports. Also read: India set to become 3rd largest economy by 2030, says S&P Global “We are creating a platform for continuous dialogue, insights, and … Read more
Finance Minister Nirmala Sitharaman on Saturday said that the government managed to save over ₹20,000 crore through new accounting mechanisms to provide funds for various schemes. Also read: Centre’s White Paper makes foreign investment pitch The government has seen good amount of reforms in the not-so-glamorous side of reforms, said Sitharaman while replying to a … Read more
India’s services sector performed exceptionally well in January, as purchasing managers’ index (PMI) surged to six-month high at 61.8 against 59 in December. Job opportunities, too, recorded a rise last month. Services has more than 53 per cent share in gross value added (GVA). “New business expanded at a faster pace and managers’ expectation for … Read more