Page 9 - Indian Economy

NRI deposits witness $7.82 billion inflows in April-August 2024: RBI data

The total outstanding NRI deposits as of August 2024 stood at $158.94 billion

RBI sold $6.49 billion in spot forex market in August, shows bulletin

The RBI said it purchased $16.14 billion and sold $22.64 billion in the spot forex market in August

GST collection falls, exports drop: Is India's economic growth slowing?

The index of industrial production (IIP), which tracks the output of eight core industries, such as coal, oil, and electricity, was negative in August for the first time in three years

Fresh formal hirings fell to a four month low in August, shows EPFO data

EPFO data also showed that share in the 18-25 age group also declined slightly

India's steel industry faces challenges as Chinese exports continue to rise

Reports indicate China is on track to export more than 100 mt in 2024 - the most since 2016

India's hunger crisis deepens as GHI 2024 shows rising child malnutrition

Child undernutrition in India is closely linked to the poor health status of mothers as evidenced by the high prevalence of anaemia among women aged 15-49 years

RBI walks the talk: NBFCs should cut usurious interest rates, high fees now

The NBFCs, which have been punished or are likely to be punished, should bring down the usurious interest rates, high fees and penalties without losing time

India, Germany to ink pact on labour mobility, skill recognition next week

Pact will help the Indian workforce to move into non-traditional sectors like teaching, nursing and manufacturing

BIMARU in education: 5 states struggling to send people to school

Causes for disengagement include financial constraints, parental unwillingness

Everyone wants to do business with India due to strong fundamentals: Goyal

Commerce and Industry Minister Piyush Goyal on Friday said the entire world wants to do business with India today as the country's fundamentals are strong. He said that inflation is under control, foreign exchange reserves crossed USD 700 billion and the country is recording healthy economic growth rates. He added that India is also the most preferred investment destination. "John Chambers mentioned to me 2-3 days ago that there is USD 3 trillion (money) looking for investment avenues and there is no better destination than India for that money. The former Cisco boss offered his services as India's brand Ambassador to the world. That is India today," Goyal said at an event here. Further, he said that the world is looking at India as a trusted partner. "We are now the envy of the world and the entire world wants to do business with India," he said.

Expanding bond market to ease capital needs key to India's $5 trn goal

Nothing illustrates that challenge better than the Rs 47 trillion ($559 billion) corporate bond market. It's one of the world's smallest as a percentage of gross domestic product, at just 16 per cent

India's growth rate among shiniest parts in world economy: Ajay Banga

India's growth rate is the shiniest part in the global economy, World Bank president Ajay Banga said on Thursday, noting that a lot of this is driven by the domestic market. There is no doubt that India's growth rate is among the shiniest parts in the world economy. I think being able to grow at six, seven per cent and more in this kind of environment shows you that they've done a number of things to get there, Banga told reporters ahead of next week's annual meeting of the World Bank and the International Monetary Fund. A lot of that growth is in India, is driven by the domestic market as well, which actually is a healthy sign, in some ways. What India needs to work on as the prime minister laid out is things on quality of life, like air and the quality of water and the like, he said. We are actively engaged with them on a number of topics to do with these, and I think we will see more results of those coming out in the coming months in terms of projects, Banga said in response to

Market Today: GIFT Nifty sinks, Q2 results, Sinwar killed, Gold tops $2,700

At 6:30 AM, GIFT Nifty Futures were trading about 103 points lower at 24,741, suggesting a gap-down start for Indian markets.

India poised to be 3rd largest economy, rising population a challenge: S&P

India is poised to be the third largest global economy by 2030 but rising population presents mounting challenges in basic service coverage and growing investment needs to maintain productivity, S&P Global Ratings said on Thursday. It said emerging economies have high ambitions for the next decade and beyond with India aiming to become a USD 30 trillion economy by 2047, from the current USD 3.6 trillion. India is currently the fifth largest economy. "India is poised to be the fastest-growing major economy over the next three years and the third largest globally by 2030. Its 2024 entry into JP Morgan's Government Emerging Market Bond Index could provide additional government funding and unlock significant resources in domestic capital markets. This is only a first step --investors will continue looking for improved market access and settlement procedures," S&P said. In its report titled 'Look forward Emerging Markets: A decisive decade', S&P said emerging markets will play .

Indian coastal vessels may not need trading licence for operations

Coastal Shipping Bill, 2024, gets Cabinet nod; foreign vessel rules from 2018 proposed to be revoked

India growth, population to grow demand for carbon-intensive goods: Moody's

Moody's Ratings on Thursday said India has made rapid progress building its renewables capacity, but its fast-growing economy and expanding population will drive up carbon-intensive product demand. Moody's expects India to remain one of the fastest growing economies in the world with real GDP growing 7.2 per cent in 2024 and 6.6 per cent in 2025. The country is likely to sustain similarly high rates of growth over the next decade, it said. "With a rising population and industrialization, this will drive higher energy needs. Increasing household incomes will also bolster demand for energy-intensive products such as automobiles," Moody's Ratings said. India's share of global greenhouse gas (GHG) emissions increased to 7.5 per cent in 2022, from 6.7 per cent in 2019. The government's ability to attract private investment and address negative spillovers from decarbonization, including job losses in legacy industries, will determine whether India's credit exposure to carbon transition

Fund managers pare India allocation in favour of China: BofA survey

Foreign investors have taken out nearly $8 billion from Indian equities so far in October, on track to be the largest outflow since March 2020 at the peak of the pandemic fears

PVR Inox to find its comeback role in Q4, says CFO Gaurav Sharma

PVR Inox to hit play on profitability with big releases, bigger footfall

129 mn Indians living in extreme poverty in 2024: World Bank report

Earlier, the World Bank had said that extreme poverty in India declined by 38 million in 2021 to 167.49 million, following a surge in the two preceding years

RBI looking to establish a global model of risk-focused supervision: DG

He highlighted that historically, crises have acted as catalysts for bringing supervisors together to address shared challenges