India GDP Growth

After utilising India's strengths in IT and software for its global operations, Rockwell Automation is betting on turning India into an important manufacturing hub, a senior company official has said. The US-headquartered automation major has started work on a factory in Chennai that will get commissioned in two phases, its president for Asia Pacific region Scott Wooldridge told PTI on the sidelines of the company's automation fair here. "both for software development and for manufacturing, we see India is going to be a very important hub for Rockwell," Wooldridge said at a time when the country is trying to increase the contributions of the manufacturing industry in the overall economy. The company had taken initial steps on manufacturing in the country about two years ago and the Chennai plant will be an extension of the same, he added. It can be noted that many global companies have been looking at the 'China plus one' strategy, which aims to reduce the reliance on India's north

In the previous trading session, the benchmark indices ended their five-day winning streak in response to the RBI Monetary Policy Committee's decision to maintain the repo rate at 6.5 per cent

Industry body CII has suggested the government to stick to the fiscal deficit target of 4.9 per cent of GDP for 2024-25 and 4.5 per cent for 2025-26, cautioning that "overly aggressive targets" beyond these could adversely affect India's economic growth. "India has been growing rapidly amidst a slowing global economy. Prudent fiscal management for macroeconomic stability has been pivotal to this growth," said Chandrajit Banerjee, Director General, CII, elaborating on suggestions for the forthcoming Union Budget. CII also highlighted the announcement in the Union Budget 2024-25 to keep the fiscal deficit at levels that help reduce the debt-to-GDP ratio. In preparation for this, the forthcoming budget could lay out a glide path to bring the central government's debt to below 50 per cent of GDP in the medium term (by 2030-31), and below 40 per cent of GDP in the long term, CII has suggested. Such an explicit target will have a positive impact on India's sovereign credit rating and ...

Share of credit outstanding to MSMEs by scheduled commercial banks as a percentage of outstanding non-food credit is tepid

Reserve Bank of India Monetary Policy Committee: Food prices likely to keep headline inflation up in the near future

Speaking at Assocham's Bharat@100 Summit, CEA V Anantha Nageswaran emphasised that India's underlying growth story remains intact despite dismal Q2 GDP figures

The 10-year bond yield has fallen to three-year lows and the spread with the repo rate has declined to a 7-year low

India's swelling urban middle class has been the engine of its growth for far longer than government capex has

India's potential GDP growth is in the range of 6.5-7 per cent and the country should be able to achieve it on the back of things that done already in the last 10 years, Chief Economic Advisor V Anantha Nageswaran said on Monday. The Economic Survey projected India's GDP to grow at 6.5-7 per cent in 2024-25, down from a high of 8.2 per cent in the preceding financial year. Addressing IVCA's GreenReturns Summit, he said, "India's potential GDP growth is in the range of 6.5-7 per cent and we should be able to achieve it on the back of things that we have done already in the last 10 yearswhether it is in terms of augmenting the physical infrastructure or achieving financial inclusion." Emphasising the investment areas, he said, "We all know about the issue of intermittency. The investment shouldn't focus on setting up solar power plants or wind energy plants as we need to take into consideration the increasing cost of recycling solar panel waste and wind turbine waste. That is an area

Economic Affairs Secretary Ajay Seth on Monday said second quarter GDP growth at 5.4 per cent is lower than the potential but exuded confidence that the second half to be better. Several high-frequency indicators in the month of October are pointing towards that, he told reporter here. Seth also said that quarterly estimates have been revised upwards in the past when full GDP numbers are available. "Numbers are lower than what our potential is but not alarming...GDP growth will be much higher in the third and fourth quarter," he said. The Economic Survey projected India's GDP to grow at 6.5-7 per cent in 2024-25, down from a high of 8.2 per cent in the the preceding financial year. India's economic growth slowed to near two-year low of 5.4 per cent in the July-September quarter of this fiscal due to poor performance of manufacturing and mining sectors as well as weak consumption. The gross domestic product (GDP) had expanded by 8.1 per cent in the July-September quarter of 2023-2

India's GDP recorded a 5.4% growth in the July-September quarter, its slowest in two years

A survey conducted by Business Standard revealed that majority respondents believed that the RBI might revise its growth and inflation projections for the financial year

The credit for the largest allocation in the budget for the cash transfer to women goes to Maharashtra, which has earmarked $5.4 billion, accounting for 1.1 per cent of the state's GDP

According to the RBI's assessment, the slow growth in H1FY25 was temporary, attributed to inadequate public spending in Q1FY25 due to the general election and excess rainfall in Q2FY25

The Q2FY25 growth in manufacturing slowed to 2.2 per cent, significantly below the 7 per cent recorded in Q1 and 14.3 per cent a year earlier

Passenger vehicle sales recorded their first decline in 10 quarters and sales of two-wheelers experienced a sharp slowdown

S&P Global Ratings on Monday revised down its estimate for India's economic growth in the next two financial years as high interest rate and lower fiscal impulse temper urban demand. In an update to its economic forecast for Asia-Pacific economies after US election results, the rating agency projected a 6.7 per cent GDP growth rate in 2025-26 financial year (April 2025 to March 2026) and 6.8 per cent in the following fiscal year, down from 6.9 per cent and 7 per cent, respectively in previous projections. For FY25, S&P Global pegged GDP growth rate at 6.8 per cent. "In India we see GDP growth easing to 6.8 per cent this fiscal year as high interest rates and a lower fiscal impulse temper urban demand. While purchasing manager indices (PMIs) remain convincingly in the expansion zone, other high-frequency indicators indicate some transitory softening of growth momentum due to the hit to the construction sector in the September quarter," it said. The agency expects India's GDP to

There is a very high chance that the actual fiscal deficit target will undershoot even 4.9 per cent of GDP as there was a decline in government expenditure during the general elections

Domestic rating agency Icra on Wednesday said India's real GDP growth for the September quarter is likely to decline to 6.5 per cent due to heavy rains and weaker corporate performance. The agency, however, maintained its FY25 growth estimate at 7 per cent on expectations of a pick up in economic activity in the second half of the fiscal. The estimates and commentary on the outlook come at a time when there are concerns around the growth slowdown on a slew of factors like slowing down urban demand. The RBI is sticking to its estimate of 7.2 per cent growth for the fiscal, but a majority of watchers expect it to be under the 7 per cent figure and many have been revising down in the last few weeks. Official data for the Q2 economic activity is expected to be published on November 30. In Q1, the GDP expansion had come at 6.7 per cent. Icra said the dip in Q2 will be due to factors like heavy rains and weak corporate margins. "While government spending and kharif sowing have shown ..

Private sector banks are leading technology adoption, said Michael Debabrata Patra, deputy governor, Reserve Bank of India