India Economy

Understanding India's growth: Lessons from its economic episodes

How can we create conditions for a next Indian growth episode?

Smallholder agriculture key to achieving Viksit Bharat goal by 2047: Mishra

Mishra emphasised the critical role of agricultural growth in poverty reduction, especially in rural areas

Economy needs new thinking, can't progress when handful get benefits: Rahul

Congress leader Rahul Gandhi expressed concern on Sunday over India's GDP growth rate declining to its lowest in two years and said the country's economy cannot progress as long as a handful of billionaires accrue its benefits. He said a new thinking is required for India's economy and a new deal for businesses should be an important part of it. "When everyone gets an equal opportunity to move forward, only then will the wheel of our economy move forward," he said in a post in Hindi on X. The leader of opposition in the Lok Sabha said India's Gross Domestic Product (GDP) growth rate has fallen to 5.4 per cent, its lowest in two years. "The thing is clear -- the Indian economy cannot progress as long as a handful of billionaires are accruing its benefits and the farmers, labourers, middle class and the poor are struggling with various economic problems," he asserted. Sharing some facts, Gandhi said it is a worrying situation as retail inflation has risen to a 14-month high of 6.21

India, Japan hold first round of economic security, strategic trade talks

The first round of the India-Japan Dialogue on Economic Security, including Strategic Trade and Technology, was held in Tokyo on Wednesday during which the two sides underscored the need for "closer collaboration" to protect economic interests and build resilient supply chains and critical infrastructure in identified sectors. Both sides also agreed to bring "concrete results" through enhanced holistic collaboration in focus areas, the Ministry of External Affairs (MEA) said. "Foreign Secretary Vikram Misri co-chaired the 1st round of India-Japan Dialogue on Economic Security, including Strategic Trade and Technology, in Tokyo on November 27, 2024 along with Vice Minister, Ministry of Foreign Affairs of Japan, Masataka Okano," the MEA said in a statement. The dialogue, attended by stakeholder ministries, departments and agencies from both the governments, was announced during the India-Japan 2+2 ministerial meeting held in New Delhi on August 20. The meeting in Tokyo provided an ..

India's economy: Extended tight monetary policy may curb growth further

The forward-looking policy bias might create room to lower rates in early 2025

Need to link cooperative movement with circular economy, says PM Modi

Prime Minister Narendra Modi on Monday emphasised the need to link cooperative movement to circular economy and promote international collaboration in the sector. Addressing the ICA Global Cooperative Conference 2024 at the Bharat Mandapam here, Modi said that for India, cooperatives are the basis of culture and a way of life. He further said India sees a huge role for cooperatives in its future growth and in the last 10 years the country has worked to transform the entire ecosystem related to cooperatives. "Our effort is to make cooperative societies multipurpose," he said, adding that with the objective in mind, the government of India created a separate cooperative ministry. Modi said cooperatives are also playing a key role in the housing sector as well as in the banking segment. There are about 2 lakh housing cooperative societies in the country. He said the government has strengthened the cooperative banking sector and reformed it. "India is among the fastest growing econo

BS BFSI summit highlights: 'Data science can help pre-identify those vulnerable to cyber fraud'

Business Standard BFSI Summit 2024 highlights: Catch all the updates related to the BFSI summit here

BFSI summit highlights: Not acquisition but integration a challenge, says Razorpay's MD

Business Standard BFSI Summit 2024 updates: Catch all the updates related to the BFSI summit here

Fiscal burden of subsidies triggers political debate, rethink on freebies

Political parties routinely make pre-poll promises of subsidies and freebies, but the fiscal burden of such guarantees weighs heavily on state budgets once in power

India now holds more gold domestically, marking 60% increase: RBI data

Latest data from the central bank shows that 510 metric tonne of gold is held domestically

Strong demand for premium products persists despite inflation pressures

Amid shifting retail dynamics driven by India's quick commerce boom, premium products are moving off shelves faster across all channels

Privatising banks is essential: Arizona State University Economist Mehra

Mehra said that the bureaucracy is not going to voluntarily do anything that diminishes its influence

Rural demand rises but urban areas 'slow down'; will it impact GDP growth?

While rural demand has shown an uptick, rising food inflation and a slowdown in credit growth pose challenges, potentially dampening the country's growth in the second quarter of 2024-25

Positives outweigh negatives in economy: RBI Governor Shaktikanta Das

Says action against NBFCs in the best interest of customers

IMF predicts India's GDP growth to moderate to 7% in 2024, 6.5% in 2025

India's GDP growth is likely to moderate from 8.2 per cent in 2023 to 7 per cent in 2024 and 6.5 per cent in 2025 because the pent-up demand accumulated during Covid has exhausted, as the economy reconnects with its potential, the International Monetary Fund (IMF) said on Tuesday. About the global economy, the IMF said the battle against inflation has largely been won, even though price pressures persist in some countries. After peaking at 9.4 per cent year over year in the third quarter of 2022, headline inflation rates are now projected to reach 3.5 per cent by the end of 2025, below the average level of 3.6 per cent between 2000 and 2019, it said. The annual World Economic Outlook released here projected global economic growth to stay steady at 3.2 per cent in 2024 and 2025, even though a few countries, especially low-income developing countries, have seen sizable downside growth revisions. "In India, the outlook is for GDP growth to moderate from 8.2 per cent in 2023 to 7 per c

Robust domestic engines supporting India's growth outlook: RBI Bulletin

India's growth outlook is supported by robust domestic engines and private investment showing some encouraging signs despite geopolitical tensions, the Reserve Bank's October Bulletin said on Monday. The global economy remained resilient in the first half of 2024, with declining inflation supporting household spending. Stable growth momentum amid monetary policy easing is becoming the prevailing theme across most economies, according to an article on 'State of the Economy' published in the Bulletin. "In spite of geopolitical tensions, India's growth outlook is supported by robust domestic engines," it said. It also noted that some high-frequency indicators have, however, shown a slackening of momentum in the second quarter of 2024-25, partly attributable to idiosyncratic factors like unusually heavy rains in August and September. "Looking ahead, private investment is showing some encouraging signs in terms of lead indicators while consumption spending is shaping up for a festival

'Every Indian owes you a debt': Ratan Tata's letter to former PM goes viral

In a letter, philanthropist and industrialist Ratan Tata conveyed his admiration for former Prime Minister PV Narasimha Rao's "outstanding achievement" in initiating vital economic reforms in India

India's economy: Glass permanently half full on the road to development

Only three-four countries in the past 100 years have transformed themselves into developed nations - Japan, Taiwan, South Korea; and China in the 1990s

Forex reserves top $700 bn, India becomes 4th country to cross this mark

India is only the fourth economy in the world to cross $700 billion in reserves after China, Japan, and Switzerland

Govt discussing proposal to formulate scheme for 'Made in India' label

The government is discussing a proposal to formulate a scheme for 'made in India' label with a view to promote brand India in the global markets, an official said. The official said that a high level committee is examining the details of the scheme. The objective is to create a strong brand identity for India, similar to how 'made in Japan' or 'made in Switzerland' evokes about specific images and qualities. "That we want for India also," the official said, adding, for instance, "when we think of Switzerland, we often think of their watches, chocolates, and banking systems." "We are having discussions on how we can do that. Do we make this scheme for specific sectors like textiles where we have strength in that. So we are looking into such things," the official added. According to experts, quality consciousness is key to promote Brand India. The government at present has India Brand Equity Foundation (IBEF) to promote and create international awareness about the 'made in India' l