Page 2 - India Gdp Growth

Generative AI to add $359 bn-$438 bn to India's GDP by FY30: RBI DG Patra

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

GDP growth, inflation among key triggers that may drive mkts in Samvat 2081

While GDP growth may have moderated in Q2FY25, inflation might not weigh so heavily on markets in Samvat 2081 say analysts. Here are some key insights on what may drive markets going forward

India fastest growing major economy, soon to become 3rd largest: Prez Murmu

India is the fastest growing major economy and is likely to become the third largest economy soon, President Droupadi Murmu said on Tuesday. Addressing an event in Delhi, she said the Indian economy had been demonstrating resilience in the face of geopolitical challenges and the country's economy was likely to grow tenfold by 2047. "India is the fastest growing major economy and is likely to become the third largest economy soon," Murmu said. According to the latest World Bank estimate, India contributed 16 per cent to global economic growth in 2023. "Our economy is likely to grow tenfold by 2047," the president said, addressing probationers of the Indian Trade Service and the Indian Cost Accounts Service who had called on Murmu at the Rashtrapati Bhavan. With a rapid economic growth of 8.2 per cent in 2023-24, the Indian economy has been demonstrating resilience in the face of geopolitical challenges, she said. India needs to attract private investment to increase per capita inc

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

Peak power demand declines in Sept; renewable energy generation increases

While coal and gas-based power generation experienced reductions of 5% and 15%, respectively, hydro, nuclear, and renewable energy sources saw a rise

India's per capita to income to increase by $2,000 over 5 years: Sitharaman

Speaking at Kautilya Economic Conclave, Finance Minister Nirmala Sitharaman noted that while it took the country 75 years to achieve a per capita income of $2,730, the next leap will be much faster

ADB retains India's economic growth forecast at 7% for FY24, 7.2% for FY25

Due to the government's efforts toward fiscal consolidation, central government debt is projected to decline from 58.2 per cent of GDP in FY2023 to 56.8 per cent in FY2024

India lags in filling void left by Chinese export retreat: World Bank

India's share of global apparel exports has decreased from 4 per cent in 2018 to 3 per cent in 2022, mainly due to rising production costs and declining productivity, according to the World Bank

India needs faster growth for a decade to meet goals: RBI Dy Guv Patra

It's possible for India's per capita income to climb to levels required to be considered a high income or developed country, Patra said

World Bank follows IMF. Revises India's FY25 GDP growth forecast to 7%

The International Monetary Fund had earlier also raised India's growth forecast to 7 per cent for the financial year 2024-25 (FY25), following the conclusion of general elections in the country

Nomura expects RBI to pivot to rate cuts from Oct amid weakening growth

Data released on Friday showed India's gross domestic product (GDP) grew at a slower-than-expected pace of 6.7 per cent on an annual basis in the April-June quarter

India's GDP growth slows to 15-month low of 6.7% in April-June quarter

India's gross domestic product slowed to a quarter low of 6.7 per cent in April-June this fiscal against 8.2 per cent in the year-ago period, mainly due to poor showing by the farm sector, according to government data. India remains the fastest-growing major economy, as China's GDP growth in the April-June quarter was 4.7 per cent. The agriculture sector recorded a 2 per cent growth, down from 3.7 per cent in the April-June quarter of 2023-24, as per the National Statistical Office (NSO) data released on Friday. However, the growth in the manufacturing sector accelerated to 7 per cent in the first quarter of the current fiscal compared to 5 per cent in the year-ago period. The previous GDP low was 6.2 per cent in January-March 2023.

India bond yields may inch higher as markets await weekly debt auction

The benchmark 10-year yield is likely to move between 6.85 per cent and 6.89 per cent till the debt auction

Share Market Today: Reliance 2024 AGM eyed; Asia dips after Nvidia results

Share market today, August 29, 2024: Indian equities are expected to open lower; US GDP, Reliance Industries (RIL) 2024 AGM, Premiere Energies IPO on radar

GDP growth rate likely to decline to 7.1% in Q1, say SBI economists

Economists at the country's largest lender SBI on Monday joined other watchers forecasting a slip in the economic growth and estimated India's real GDP growth to come at 7.1 per cent for the June quarter. The economists said the growth in gross value added (GVA) will fall below 7 per cent to 6.7-6.8 per cent for the April-June period this fiscal when compared to the year-ago period. "As per our 'Nowcasting Model', the forecasted GDP growth for Q1 FY25 would be 7.0-7.1 per cent, and GVA is at 6.7-6.8 per cent with a downward bias," the economists said. It can be noted that the real GDP growth had come at 7.8 per cent in the June quarter last year and the preceding March quarter. A slew of analysts have been pointing to a moderation in economic activity in the June quarter, mainly driven by softer manufacturing and lower government spending due to the general elections. The report also said that given the uncertain global growth outlook and the softening inflation, there is a space f

Likely to lose 1% of GDP growth in FY25, FY26 due to rate-cut delay: Varma

The only available yardstick for evaluating the tightness of monetary policy is the real interest rate. The nominal repo rate is useless for this purpose

Grasim achieves highest-ever Ebitda of Rs 20,837 cr: Kumar Mangalam Birla

Speaking at the company's 77th Annual General Meeting, Kumar Mangalam Birla said that Grasim Industries invested Rs 7,000 crore in its paints business

India could be $55 trillion economy by 2047 with 8% growth: IMF official

Krishnamurthy V Subramanian says India can achieve the feat if the country can keep the inflation below 5%

IMF's Gita Gopinath says India could become 3rd largest economy by 2027

India's growth was much better than IMF expectations the last fiscal year and those carryover effects are affecting our forecast for this year, said Gita Gopinath

Ind-Ra ups FY25 GDP growth forecast to 7.5% on expectation of high demand

India Ratings & Research (Ind-Ra) on Wednesday upped India's GDP growth forecast for the current fiscal to 7.5 per cent from 7.1 per cent projected earlier on expectation of improved consumption demand. It said The ongoing growth momentum led by government capex, deleveraged balance sheets of corporates/banks, and incipient private corporate capex cycle has now found support from the union government budget. The budget promises to bolster agricultural/rural spending, improve credit delivery to MSMEs and incentivise employment creation in the economy. "Ind-Ra believes these measures would help in broad basing the consumption demand," the rating agency said while revising up its GDP growth estimate for FY25 to 7.5 per cent. Ind-Ra's growth projection is higher than that of RBI which projected FY25 growth at 7.2 per cent and Finance Ministry's Economic Survey which estimated GDP expansion between 6.5-7 per cent. Ind-Ra expects Private Final Consumption Expenditure (PFCE) to grow to a