India’s manufacturing sector experienced a slowdown in growth during May, with the HSBC final India Manufacturing Purchasing Managers’ Index falling to 57.5 from 58.8 in April. Despite this decline, the index remained above the 50-mark, indicating continued expansion in the sector. The slowdown was attributed to a combination of factors, including a heatwave that led…
India FY24 GDP growth data: Indian economy grew at a faster-than-expected rate of 7.8% year-on-year in the January-March quarter, driven by robust growth in the manufacturing sector. For the full year 2023-24 it is estimated that India’s GDP is estimated to have grown at a robust 8.2%. Economists anticipate this momentum will remain strong throughout…
India is poised for a long-awaited economic take-off, driven by rising aggregate demand and increased non-food spending in the rural economy, according to the Reserve Bank of India‘s May Bulletin released on Tuesday. Rising aggregate demand The RBI’s article on the ‘State of the Economy’ highlighted a quickening momentum in aggregate demand. Recent indicators show…
Big achievement! India is on track to surpass Japan as the world’s fourth-largest economy by 2025, according to Amitabh Kant, India’s G20 Sherpa and former CEO of Niti Aayog. According to Kant, based on several positive macroeconomic indicators. India’s GDP currently ranks fifth, following the United States, China, Germany, and Japan, having overtaken the United…
NEW DELHI: India’s foreign exchange reserves declined for the second week, after having risen for the seventh straight week to hit an all-time high of USD 648.562 billion.As per the latest data released by the Reserve Bank of India (RBI), the country’s foreign exchange kitty declined by USD 2.828 billion to USD 640.334 billion in…
India is in a mini-Goldilocks! Motilal Oswal Financial Services in its latest report titled, “April 2024 India Strategy” has said that “India is big, bold and blazing!” According to MOFSL’s report, India is currently enjoying favorable macroeconomic conditions, marked by robust corporate earnings, stable interest rates, moderate inflation, and consistent policy momentum.This positive environment is…
War of Words! Krishnamurthy Subramanian, the Executive Director at the International Monetary Fund has said that the IMF’s GDP growth forecasts for India have been consistently ‘INACCURATE’. In contrast, he claimed that his predictions of India’s GDP growth have been accurate. The issue stems from IMF spokesperson Julie Kozack recently stating that Krishnamurthy Subramanian’s 8%…
Services PMI grows, employment increases at the fastest rate in seven months! India’s services industry showed faster growth in March, driven by strong demand, as per a private survey. The HSBC India Services Purchasing Managers’ Index, compiled by S&P Global, increased to 61.2 last month, surpassing expectations. This marks the 32nd consecutive month of growth.Job…
Indian Economy GDP growth seen at 7.5% in 2024! The World Bank has projected that the Indian economy is set to grow at 7.5 per cent in 2024, marking a revision from its previous forecast by 1.2 per cent. This growth is part of a strong outlook for South Asia, with the region expected to…
Benchmark equity indices Sensex and Nifty ended the last day of trade of the 2023-24 fiscal on a bullish note on Thursday, driven by heavy buying in power, auto and banking stocks amid a positive trend in global markets. In the 2023-24 financial year, the BSE benchmark jumped 14,659.83 points or 24.85 per cent, and…
